tv Cavuto Coast to Coast FOX Business October 16, 2015 12:00pm-2:01pm EDT
prediction comes true. so we've got a lot of can you be fans out in the audience, this studio is jam-packed with mets fans as you might suspect since this is new york city. our time, ladies and gentlemen, is done. neil cavuto waiting right there, his time is almost starting. now. neil: are you guys talking about be abl baseball? thanks to my buddy charles payne for being in in my absence, we are celebrating right now as we speak, in fact, they're having democratic confabs about shrinking deficits about 439 billion in the latest peer, in other words, we are bragging of having deficits of half a trillion dollars. by the way, not too long ago used to be what our government spent. now, who am i to go off on a network-like rant i mean like this? come on. >> i wanted to get up right now and go to the window, open
it and stick your head out and yell i'm as mad as hell, and i'm not going to take this anymore. neil: and you know why we're mad as hell and not taking it anymore? because even if you send a dollar more then you are taking that dollar gets added to our debt, which is closing in on $19 trillion. which is not shrinking any time soon. which the best of the republican candidates who offers the plan to shrink it says it would take eight years to do it, which means that you will pile up eight years of deficits to said debt, bringing us to likely over $20 trillion and he's the most active of the bunch, that is john kasich. the fact of the matter is that we're bragging about half a trillion dollars deficits as if we did a home run when, in fact, we had no plan to get out of this debt. something that news editor jeffrey has been warning about for quite sometime. i think this movie was way ahead of its time in talking
about something very, very different but this idea that we're celebrating craziness. we just finished a democratic debate where they all the spending and boost spending again without a single thought how you pay for it. what is going on? >> well, there's no doubt that, neil, that this presidential campaign ought to be a debate about how the united states gets away from what seems like an inevitable financial crisis. we're headed to i think two major trends happening in the country. one is inevitable, we have on going retirement as the baby boomer generation. each other more folks going onto medicare and social security and therefore getting government benefits from the people who are still working. and the other trend is the massive expansion and the federal welfare state. for example, in food stamps and medicaid, we have a decline in labor force participation, 62.4% in september that's as low as any time since 1977. so the bottom line is we have a shrinking percentage of the population working to support
a growing percentage that isn't working and where in the olden days families took care of their own, increasingly we have the government taking care of older people and government taking care of younger people and middle age middle class people burying the burden through taxes. neil: the bottom line is -- and i understand there was a time when the president stepped into office, we are a trillion a year, so by comparison that's a home run, the fact of the matter it gets added year after year and to your point a lot of the baby boomer generation when they start, retiring and needing the benefits that you alluded to, that's going to grow dramatically. but we're not making any serious effort to address, and i've always likened to a grenade that's unpinned, i'm surprised it hasn't blown up already. what do you think of it? >> well, i think it's going to blow up unless we do something. you have the congressional budget office saying debt and the track we're on could very well lead us to a fiscal crisis. right now the debt of the united states the treasury is
paying just slightly over 2% interest. back in early 2001 they were paying over 6% interest. we could easily triple the interest we're paying and pay $233 billion cash out of the treasury and interest in face cal 2015, you triple that and it's almost 700 billion. neil: very good point. >> on the debt that we have now. neil: very good. terry, thank you very much. can we show that chart again? i'm not a big guy on charts but this explains the problem. in other words, what we make collectively as a country is being dwarfed by our debt. 300% our bills are running up, our collective debt is running up and the means by which we pay for it isn't remotely keeping pace. unsustainable to the guys who saw this long before appreciated of the problem, former senator tom. first is it undo, i know he's been going through cancer treatment, how are you feeling? >> i'm doing great, neil. neil: so the doctor gave you
great news. >> great prognosis and i'm out there beating the bushes. neil: i'm happy to hear that. kudos to you and maybe a warning sign to your critics saying you were making a big deal about this. you're still on the warpath. now we get a lot of folks bragging about, hey, we're on the way home here. i don't know. what do you think? >> well, i think you have to look at what the government consumes of what we produce. and if you take federal government state and local, we're 27, 28% of our gdp, which means one out of every three or four dollars that we produce, government's consuming. number two is the government isn't honest. they said last year we had a deficit of 480 some billion dollars. but our liabilities increased by 6.2 trillion. so that -- there's no general accepted accounting principles used by the federal government. neil: by the way, i want to clarify. you just said something that people missed. unfunded liabilities dwarf whatever fiscal statistics we're being told is baked into our debt.
but the debt we're running up against now, the idea to expend it, raise the credit line and that will get us through this near term crisis. what do you think of that. >> well, i, first of all, i wouldn't vote to increase the debt because you're fixing the symptoms not the problems. and the problems are -- and we showed through the gao, the congressional research service and the igs, there's every bid of $400 billion verse of stupidity, duplication, and fraud, in the government programs that are running right now. and nobody -- one of the reasons i left the senate is nobody would help fix that. nobody -- neil: they're still not doing it, senator. >> no. and even those who try to tinker with it, paul ryan gets crucified just trying to slow the growth let's say in medicare. so where is it changing? >> it's not there and that's why the solution, our founders gave us a great solution, neil, they gave us what's called an art cal five convention of the state where 34 states come together and say, hey, the federal government didn't create the
states, the states created the federal government and, by the way, you're spending the future of our kids and present day income ask we think it ought to change and here's the things you have to do to change it and there's three things you can do. put turmoil on members of congress, force the amendment general accepting accounting principle, whys that happened? whys that passed the senator of the house? they're not working on the real problems, they're treating symptoms and then you limit the scope and the jurisdiction of the federal government and bring that power back to the states and. neil: that's been supposedly in their dna and behind their recent electoral victories, to gain the house and the senate, being you understand where there's a body for leadership& the soul of the party. shouldn't this soul of a party be arithmetic being to money in, money out. >> it ought to be arithmetic but from a compassion sense is, you know, what we're doing is wasting money that we
shouldn't -- we're wasting money -- spending money on things we don't have and not investing the limited area of the federal government should be. there's $100 billion worth of waste in the pentagon. now, a lot of people would dispute that, but i can show it. so why wouldn't we ask to get better value out of the 100 billion that's not being spent wisely now rather than increase it? but what we do is we don't force clang. we don't force change through the bureaucracies and congress has given away its ability to control those things because they've handed it over to the executive branch. so we don't have a problem in front of us that we can't fix. what we lack is the leadership to do it. and the way we're going to get the leadership is the states and the people are going to demand a convention of the states where we limit their power, and we return the power to us and we say you will balance the budget. neil: very well said but the urgency has to be relied here and a reminder to future generations to your point, senator, has to be relayed. i'm very happy to hear that you are better, you're feeling
better, you survived a scary blow there. >> can i make one last point? neil: real quick. >> 142 trillion is what our unfunded liabilities are. million dollars per taxpayer. neil: incredible. just incredible. senator, thank you very, very much. i know a lot of what you're saying, everyone calm down, we've gotten through this, we've got to raise the debt. but it's the 80 some odd times that we've done this, folks -- it's not the latest brink we're up against. the fact we keep doing this. so we rob peter to pay paul to get through it and the fact of the matter is you can't play those games very long and we have debates in both parties where no one even comes up with -- well, how are you going to pay for this? i am telling you the fbn today, that's going to come up. i've got david and connell. and charles payne. begin with you, charles. it's like investors don't focus on this. it's a big picture problem, not a worry.
focused on the netflix of news, focused on apple, whether it's going to sell enough iphones. this is all. a theory. >> it's ain't theory but here's the problem. sort of being a career criminal, someone who really did something wrong for a long time. you can get away with it a thousand times. once you get caught, you get caught. but until then and that's the point. we only can get caught on this once. we can only go over this cliff once. neil: so why didn't the markets worry about it more? >> because we don't know where the cliff is. we know it's out there, and the scientists said it will implode one day. it's not going to happen in my lifetime. neil: are you kidding me? >> it was mans fault but that's a different topic. >> you worry about who's going to buy our debt? in a pinch, the federal reserve will certainly step in and buy it. that's one of the reasons why people aren't worried about it. >> how long can they play this game? >> politicians are not going to worry about this until it's a crisis situation. when it will be too late to
deal with, but it's all about what? the federal government has to pay to borrow. i said it yesterday. neil: one out of four of our dollars. >> right. neil: you know. >> roughly five years from now, the -- what we pay for interest on our debt will equal our defense budget. neil: incredible. >> five years from now. it is unfathomable but they're not going to do anything about it until the bottom falls out. >> and when they dodo something about it, nobody listens to them object the commissions get dissolved. remember we all covered that a few years ago. neil: right. >> collecting dust. of course and the things that they were suggesting if you're a liberal you could find a few things wrong with it, a conservative the same deal but at the end of the day you say, well, these guys are making an and effort everyone's, like, no, i don't think so so that's the nature we live. '08 was the example of the financial crisis, we don't act until you have to. neil: well, everyone seems to be seeing low interest rates right now, and they're letting us through the hump here.
what i want to know -- i don't like to scare people, to your point i just think we can't ignore this. yet i see it being ignored and republican debates activities ignored, and democratic debates where the issue never came up again. >> they want to keep giving. neil: give if that's your nature, then please to me how you're going to pay for it and that doesn't even come up. >> well, the way they explain it something come up and the magical pot of money that the 1% have will pay for and everything of course we all know that's self defeating and not true but it's a populous argument, it works, but they don't care about it. they just want to get elected. neil: and look at what happens to the ones who have proposed things like chris christy. >> no mojo. neil: nothing and what he did with medicare you could do the sanely and john kasich his eight-year plan, the wisdom or the answer, but you are ripped a new one just even trying to
go out on a limb. >> of course and they are going to pay for it, anybody will tell you got to borrow money and interest rates are low. neil: right. >> so i understand everything and i've got to outline, at some point. >> it will blow up in our faces and very quickly is medicare. neil: absolutely. >> because the cost of medicare are exploding. you know that there's -- neil: next month is it's going to go up from 20 to 50%. >> 50% increase on one third of people of medicare part b potentially unless something is done with the cost of drugs and cost of care going up. neil: shipped that to another way and tax something to get that. >> but you're going to get to the point. everybody's taxed out and then how are you going to pay for it? . charles: all i know, folks, we're taking in $3.5 trillion every year. >> it isn't the money problem. neil: so even if we do bump up against the debt, your paychecks are still coming in ask the government is still getting its money. that's uninterrupted. so that 3.5 trillion is uninterrupted. then what the hell is
happening to the trillions more that's going out? that's the issue. all right. and in the middle of that, we have a benghazi hearing to tell you about. blake berman on the latest stuff that could cause a big, big bump in the road for hillary clinton. but it's not hillary's stage today, blake, tell us what's happening. >> no. indeed, neil. the one behind closed doors right now, she walked into the hearing room a little while ago, she didn't stop to answer any questions. 12:15 so she's been there for an hour so, congress is out of right now, we're told two members of the committee inside are along with staff members and those are the ones questioning. she of course was one of hillary clinton's top advisors at the state department. it was interesting kneel because the committee went out of its way yesterday to stress that the questioning today for her will focus on the events surrounding the deadly 2012
attack before, during, and after. i bring that up because the hearing comes after the house majority leader kevin mccarthy made his gas a couple of weeks ago which he has since walked back against the clinton polling numbers. one of the democratic numbers, he walked out of the room half an hour ago, went right to the microphones, right to the cameras, and basically slammed the committee as he has for months but this time he was saying it is something that the victims families had warned against. that being a political football. she of course is the fourth member of clinton's inner circle to testify along with mills, bloomthol, hillary clinton is next week, her testimony will be public. kneel. neil: thank you, my friend. all right. you probably heard that there's this big movie, the truth it's based on that controversial issue in which cbs might have rushed to air, and cbs evening news rushed to air a false report on governor
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learn more by calling switch to liberty mutual and you can save up to $509. for a free quote today,call liberty mutual insurance at see car insurance in a whole new light. liberty mutual insurance. neil: that movie in which he plays dan and going back in time and a big day on then george bush a load of you know what, that it's not the truth at all. but sony pictures that has the film has been trying to pro moat it including cbs on the late show, the cbs morning shows, 60 minutes, the cbs evening news and they were turned down.
cbs spokesman saying he is astounded how little truth there is that there are, in fact, too many distortions and conspiracy theories to journal and judgment into acts of terrorism. and they want nothing to do with it and they're making it very clear to sony hawk that flick elsewhere. charlie gasparino, i might point out that the conflicts love this movie. they think it's great, there are a couple of oscar candidates in that. what do you think about it? >> well, they think so it's a good movie, a fiction of a movie, an all-star cast. i tell you this is really a low point in journalism or one of the low points. if you think about it, the journalists themselves -- and we all make mistakes i do a lot of investigative reporting, i've had people throw stuff in my face and say you got this fact wrong, that fact wrong, but they failed at
a very fundamental level on this and that's why cbs wants to distance themself from this movie. it these reporters, the producers, they failed, they didn't verify a document. they based most of their story on a document that they didn't even try to verify it looks like. it looks like they rushed it out. so they failed at the most fundamental level. and yet like i said as a journalist, you know, there for the grace of god we all make mistakes, sometimes we get too close to stories and editorrers are there to pull us away. neil: a liberal news torsion go that far. but having that said, what do you just of cbs deciding years later the last thing you're going to do is promote this movie about this sorry chapter in our past. >> right. i don't blame them and what does anybody expect? the movie basically alleges that cbs pushed out dan because they didn't like the result of a truthful story, and they tried to cover it up
and cbs grews otherwise. they're a for profit company, they don't want to put ads on the air so it's not surprising to me and i don't blame them. neil: here's what i worry about, guys, just like a lot of young people and what happened to jfk and his assassination was framed through watching oliver stone's jfk, i'm afraid many will look at this movie and base their views of happened on what wa false narrative, a lie. >> well, that just is says -- maybe that's a segment for boomers, the millennials will take the movie. neil: millennials weren't the only ones doing that. >> but i think the bigger issue here is the business issue for cbs. they're caught between a rock and a hard place. they like ads, it pays the bills; right? so they'd like to take the ads for this movie. but if you promote this movie, it's going to destroy their brand and their name and their image. because it's basically saying that as a news organization,
you know, they cow tail the corporate interest. so this is an interesting busy story, between a rock and a hard place, and they basically said you've got to give kudos to them. they're basically saying, listen, instead of short-term, we're going to protect our brand first, it matters most. and we should also point out, you know, after the fact but cbs did go in there, do an investigation. neil: they did. >> and fire people. neil: they did. now, david, what's going to happen is you've seen the stars of this movie, and others make appearances on the today show, good morning, america, other venues, so they're going to pro moat the heck out of it. >> of course. neil: so is there still going to be damage to the cbs brand, david? >> there's going to be damage to the cbs brand, a lot of people who may not have thought about this before are going to assume that it's a true story about george w bush and, look, i see this all the time, neil, let's step back for a minute. all the time in tv and movies there are false narratives and story lines about how politics works. i see all the time there are television shows about wealthy
donors writing $1 million checks to a campaign, which is illegal. you can only give $2,700 per. and this happens all the time and leaves an impression with the american public. but, look, on the other hand time goes by and remember going to see jfk in the movie theater, i remember people walking out of the theater saying wow i didn't know that was true. >> i don't think this is going to damage the brand and i'll tell you why. neil: real quick. >> there may be some issues but the facts are so bad and i actually like dan, i met him a few times, he was good to me. neil: so you don't buy it. >> the facts are bad. neil: all right. good to know that you met dan and liked dan because i was worried. all right. when we come back. >> sorry. neil: apple is extending now its list of goodies to its stock awards to its workers. given how the stocks gone, i don't know if that's a good or bad thing. but we'll see the progress (vo) what does the world run on?
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>> i want to take a peek at twitter stock right now. talking to steve ballmer, the former microsoft chief. a stake in the company. the real story. someone has. now, again, his office has not confirmed that. twitter has no clue about that. wall street, they just sort of buy or sell and ask questions later. meanwhile, apple is making some news. ups and downs. opening up stock awards to some of its workers. you know, julian, i was thinking about that. the last folks, i am glad that
they are getting it. if that is an incentive to do their jobs together, that is the one job that doesn't a very good job. >> terry determined to solve whatever problems. here is idea. there is a talent war going on at all levels of technology. all the way down to those that are selling product. this is remarkable. those people will become eligible. what is remarkable out this really is that it is very rare for companies, especially in retail to workers. a long term play. also, you know, the one that really talks a lot about social
issues including social inequality. >> greedy investors come back to say as long as they are not issuing more stock and diluting the stock might do we know where they are getting this? >> it is an internal memo from tim cook. we want to do something a little bit different here. they will be able to nominate workers. neil: they are impressive. jo ling: you could probably even bring in an ibm and they could turn it into a mac. >> you are an idiot. they are good. thank you very much. this is not a very good week for the united states in regards to syria. charges where they are violating the agreement. the french are concerned about
iran. now, benjamin netanyahu is talking to vladimir putin about working together regarding syria. you do not like what those guys are thinking. ♪ ♪ they say that in life, we shouldn't sweat the small stuff. but when you're building a mercedes-benz, there really is no small stuff. every decision... every component... is an integral part of what makes the 2016 c-class one of our most sophisticated cars ever. because when you're setting a new benchmark for refinement,
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officials said they were. the united states has confirmed that iran has a missile capable of delivering a nuclear weapon. clear violation. i think the lieutenant general have some worries. good to have you back. what to make of this? >> more bad news for many. testing the limits of the international norms. firing off this, not this nuclear, but long range missile. >> this was not in violation of the agreement. violation of un resolutions already. >> exactly.
the sanctions, up to this point, preventing iran from doing such tests. that is a violation. i am not so sure i would agree with the point. really what is more important here is the topic of the conversation. iran challenging the international norms. also, are they doing it for the external aspects of really trying to bolster their position in the region? >> this may not be part of the agreement. spitting in the face of the united states doing these tests. >> well, they are. it is because they can. both internal and external. in my view, the leadership void,
the united states still need to maintain. with russia, this is all coming together. neil: i think that putin is trying to shorten netanyahu. the fact is, more than netanyahu in the president. >> they know nothing about power. the lack of power, i think that they will try to fill that void. >> i think that we should bolster our position in the region. i think that we need to make sure that we step up our air campaign. i think that we need to also clearly communicate with prime minister yahoo!. we will be the clearest. >> it will take international support.
even economic efforts. really trying to ulster our position. neil: thank you very much. a busy news day. we appreciate it. have you heard about el niño? tell us why it is such a big deal. we have talked about it so many times. how hard it has been hit by the drought. you say that el niño is coming and it may be coming "worse" than it did in the past. they need more rain. the economy is so hard. the drought in california. you are looking at an expectation of losing $5 billion in output. 4.9 billion. most of it from the agricultural sector. lots of pictures from our
affiliate. we look at the scenes in southern california. obviously, there is a double edge sword. making it a longer-range economic discussion. you could have problems. you could have problems. flooding or mudslides. for the most part, when you have forecast, more rain, a wetter than normal winter, that expectation is that it will be just right. next year, the drought is expected to continue. over the winter, we get a little more rain. it helps out the state. boy, the economy could really use it. >> thank you.
neil: janice dean. watch out. all right. you probably heard it already. a whole lot of controversy. nevada starting to say you can't use them. in our state, they will be illegal. ♪ but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro.
tending to other matters. nevada stopping to pick sites from operating in its state here and. jeff: a kind of homes in on their business. whether this is gambling or not. fantasy football, fantasy baseball. this is a whole new thing. i am not a whole new player. draft kings and sam duell, the two biggest sites, these are huge. everybody has invested in these things. i say everybody like major league baseball, the nba, broadcast networks, gerri jones, the owner of the dallas cowboys, robert kraft, the owner of the new england patriots. instead of betting on the
outcomes of games, you are betting on players. that is good. the gaming commission, i think, rightly sees this as gambling. honing in on their business. they do not like it. >> waiting for the slightest provocation to this. the state, arizona, iowa, montana and washington. they see it as gambling. maybe it is gambling. >> we are your betting from. >> apparently they can't. they have said that both will seize allowing people from the state of nevada to participate.
>> thank you, my friend. gerri willis has been following something that is very historic. it will end early tomorrow morning. gerri: that is right. the final u.s. airways flight departs friday night, tonight, and will arrive in philly in the morning. that will be the final one. named after u.s. airways predecessor. all right. enough of the nostalgia. this could create huge problems for flyers. the registration system, as they migrate those two together. 2004, u.s. air and america had similar problems. a heart and brain transplant on
the same person at the same time. that is just how difficult it is to beat this. americans have been working on this for three months. they have given themselves 90 days to try to get them back together. if you are flying over the weekend, saturday or sunday, be careful. especially if you are going through former u.s. air hubs. give yourself a lot of time. neil: thank you. gerri willis. keeping an eye on twitter. there is a rumor going around. it has not been confirmed directly by steve ballmer. a 4% stake in the company. we have yet to verify that. that cannot be good for him.
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$30 billion. that seems to be the reader things here. the fact of the matter is, tax money still comes in. you do run up against that debt into two not rated, there are a lot of things that you cannot do. you go about far, you could be violated. explain. >> remember as we learned in grade school. only that congress has so far out to borrow tax and spend. it is up to the president and executive branch to make sure that those things get carried out. technically, the president does not have the authority to say i need to borrow some money to increase the debt ceiling. some constitutional scholars. the 14th amendment is a
little-known thing. go borrow little more money and no one should question it. i am not sure if that necessarily holds. you cannot necessarily spend what congress tells you to spend. >> ivc, we get a little money. that money still comes in. it seems to me that it is what a typical couple would do. prioritizing the bills they want to pay. the government, in order to avoid the pool, interest payments on debt. make that first and then move on down the line. barring that, the president cannot just come into the middle of this and propose an executive
order. by definition, spending money. it is one thing to do it when the house is open, so to speak and the accounts are open. quite another when they are frozen. >> what makes this moment so known in history, it comes down to the last minute. who is going to be responsible for destroying the united states economy. the democrats or the republicans? the last minute a deal gets cut. everyone gets ready to go home. the republicans, who is running the show here. the president has no one to negotiate with. no one to fight with. no one to sit down with. it does not make any noise.
he could throw it to the supreme court and say, hey, guys, it you tell me what i am allowed to do. certainly it is an option. imagine those democratic contenders. how they may feel about their chances come 2016. the first time in our history. talking about a global crisis. >> thank you very, very much. the treasury secretary of the united states does not have the priority. all right, we avoid the polls if we continue to pay our interest payments on our debt. we do have our priorities here.
the fact of the matter is, with all that money coming in, i think we can prioritize. eighty some odd times since the end of world war i. that fear that is repetitious that makes us a mockery. how we sort of put a band-aid on it and go to the next. that is what makes us a mockery. nothing else. ♪ we live in a pick and choose world.
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neil: i want to bring your attention to a huge scaffolding collapse in houston, texas right now. this is near minute maid park. four people were trapped in this rabble. two had to be pulled out and rescue. two others remain. we do not know their condition. we do know that they are still stuck. they are all alive. we hope that that obviously
remains the case. they still do not know what caused this collapse. we will keep an eye on it for you. let's switch quickly to politics. how much cash is on hand? blake bergman with the latest. >> talking about the debt ceiling. money in, money out. in this, for a presidential candidate, it is their burn rate. how much are they spending versus how much are they bringing in. for some, this could be the game changer. let me show you who is on top right now with money in the bank. it is hillary clinton. $33 million after this latest reporting period you can see it
is not much higher. the reason why, clinton has spent more than half of the money she has brought in. sanders only spent one third of the money he brought in. on the republican side, it is ted cruz with $13.8 million in the bank. that puts him on the top of the field. he is in second there with money in the bank at 11.3. followed by marco rubio. fundraising off the strong debate. somebody who may keep the look out lookout at their campaign is chris christie. all across the country. a little bit north of $1 million left in the bank. they can run in the hundreds of
thousands or millions each month. chris christie only has a million dollars left. marco rubio's campaign manager, he tweeted out that they have more cash in the bank dan jeb bush. i did not even mention donald trump. neil: it is nice to be king. we should stress, remember, john mccain was down to his last half-million. rudy giuliani. all the attention. senator mccain turned it around. some of these governors in particular, former governors as well, their own states including some senators that are feeling the pressure at home. i want to get into that a little bit. donald trump was telling me
earlier this week it could be a big problem for lindsey graham. >> all of a sudden he started attacking me. in south carolina, he is at three and i am at 32. he is a senator from south carolina. neil: technically, donald trump is right. how some of these candidates fare in their own states. none of them are leading in their home states right now. in and of itself it was a rather telling development. whether this could be a problem for those candidates. >> i think that it will be a big problem. you incriminate some much money and you are unstoppable. donors, campaign donors looking at this and saying you are trailing your protége. trailing this guy donald trump. i think that they will be pretty
nervous. neil: in florida, surely ben carson as well. >> yes. carson is warping them nationally. back and forth a little bit. today's real clear politics that trump, rubio, jeb and carson. neil: the situation in new jersey interested me. in his home state where he is making the case i turned it around. he has yet to convince jerseyans of that. >> what we hear 1000 miles away, that sounds horrible this traffic scandal, in new jersey, they had to sit in it. he won by a huge margin, his reelection. he is now at 5%. neil: is there any sense that there is a connection between
candidates that pull poorly in their state with how they eventually fare in the nomination? looking rocky in 1992. he reestablished himself. i do not want to put you on the spot. i do not always think that there is a dead on connection here. that candidates can surprise even their own state. >> i think that that is true. mitt romney in massachusetts, he had all of these umass problems. the republican party, they embrace them despite that. >> chris, thank you, thank you very much. getting word that united ceo has just suffered a heart attack. we do not know where or when. just that it was within the last 24 hours. outside of that, we do not know
his condition. trying to swallow u.s. air and make that official. late tonight. all planes will have american airlines stickers on them. they have had all sorts of problems. a lot of heat and pressure. it is a high-pressure business. the ceo right now suffered a heart attack. a little more after this. [ male announcer ] some come here
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i just had a horrible nightmare. my company's entire network went down, and i was home in bed, unaware. but that would never happen. comcast business monitors my company's network 24 hours a day and calls and e-mails me if something, like this scary storm, takes it offline. so i can rest easy. what. you don't have a desk bed? don't be left in the dark. get proactive alerts 24/7. comcast business. built for business. >> we want to keep you updated on this houston texas scaffolding collapse. four people were trapped in the rubble. two people rescued in two others
we are told are okay and reachable. suffering a heart attack. this guy just succeeded as ceo. a port authority scandal. a little more than a few days after a united airlines flight was divergent because a copilot was unconscious. people in the airline industry and not stock under pressure right now. very close to workers there. very good worker relations and was very much into turning the carrier around. we hope he will be okay. this happening in the last 24 hours. in the meantime, late sunday
night. you may not pay attention. china will release its latest quarterly gdp data. awful in china terms. this from a country that is traditionally reported near double-digit growth. stabilizing things. going all over the world. whatever number we get, do you trust it? >> it is garbage in, garbage out. you cannot trust any of these. the whole economy is based on intervention. it is based on political will. the government has spent billions and billions of dollars trying to prop up their stock market. trying to keep their interest rates low.
the carnage is one indication, probably the best indication that that ball of wax is ending to melt. >> the slowest since 2009. i do not buy it. >> i actually think that it is worse. look at chinese stocks. the chinese etf, the exchange traded fund, the big one, it sped 2007 levels. even further down. look at what happened to win casino resorts. at least 10-15% just because the chinese government has not told them how many tables they could have had in their new casino. it is failing in china before our eyes. neil: six and a half percent. do you read anything into that? >> the biggest winners in the
market have been the biggest losers from the downdraft. commodities, of emerging markets , quite considerable doubts. nowhere from the highs. it is a dead cat bounce. getting back to that period of the 90s. talking about the bad loans in china's economy. neil: thank you very much. appreciate it. the former deputy assistant. china is in a world of her. obviously, you have to be aware of the animal. if they just fall out of bed and can't pop this puppy back up, that has to boomerang. >> china has had decent growth to the economic downturn.
>> there has been some growth. if they do collapse, there will be some effects that will ripple around the world. neil: we got news that they have been actually selling, sellers of uss. they have a lot of our debt. chump change, as they say. >> the transpacific partnership. there are military issues. the united states has announced they will sail through these chinese islands in the south china sea that china claims as sovereign. this could be unhappiness. president obama, there could be tougher times ahead. no doubt about that.
neil: switching gears here. thank you for visiting. getting to where the secretary of state, john kerry, will be meeting with benjamin netanyahu next week. this comes on the helm of benjamin netanyahu and vladimir putin talking. nevertheless, they are talking. we are not. what do you make of that? >> i would hope that there be something good that came out of it. it is important that we talk to israel. with the russian intervention there, you also have this terrible terrorism that is happening in that part of the world. the last thing that they need is more instability. i would keep that modest. it is good that we're talking to our friends, the israelis. >> you handled out flawlessly.
neil: we do want to keep you up to date on this debt mess. running up against -- that would be like you, unable to charge more. unlike the government. you have to type in your belt or find a way. the government will presumably extend the credit line. the question is when. if you do, if you don't do that, then what? here we go yet again. even the most ambitious republican says it will take eight years to fix. in other words to get to a balanced budget. >> eight year plan. what do you make of that? >> that is before he negotiates
with congr the democrats can hold that plan hostage. i think we need to be a lot more radical. i think we need to tell the american people that we are in crisis. we have lost oxygen. they always tell you, put the gas mask on yourself first. it is only then that you can save the child. with us having this financial, not only deficit crisis, which is what case it was addressing, we have a debt crisis. neil: does not seem to care. they say-- hold them to what has happened. look at christie. making some minor adjustments.
one or 2% of the polls. whatever. our politicians looking and saying don't even talk about doing something about it? >> that is tragic. if you really want to fix america, america is the backbone to peace and stability for the world. elected or not, we are a republic or read should be a republic. guaranteed by the united states. if the united states becomes fiscally unstable, we start moving towards greece. that is a crisis for the united states and the world as well. we have to be radical. that social security, so-called noble lie that you will get money out that you put into it, that is a total falsehood. this generation of retirees are getting more money out then they put in. money from those of us that are still young enough to be working
and contributing our tax dollars. an absolute necessity. not a feel-good manner. neil: dropping the ball on this. it is not left or right. there is not enough money coming in for all of this money coming out. thank you. all right we told you about the united ceo having a heart attack. he is resting at a chicago hospital right now. we do not know his condition. we do know that just word of this got out and the stock is down. almost 2%. we will keep you posted. awe believe active management can protect capital long term.
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to were being treated at a nearby hospital. two other workers have lesser injuries. it looks like everyone will be all right. they are still trying to figure out how in the heck this happened. we will keep you posted on that. also keeping you posted on the heart attack. at a hospital being treated. the stock is down close to 3%. all we're hearing now is that he is being treated. what is a mild heart attack. you may call filed or severe. it is a heart attack and it is scary. all right. while i was out doing a business thing yesterday, you should have seen charles payne and ross nader going at it. wow, neil. this is how an interview should
be done. take a look. >> rising minimum wage increase consumer purchases which increase sales which increase profits which increase jobs. you do not get anywhere reducing or freezing the minimum wage ian up by inflation. [laughter] neil: that was very good. what you are saying, i understand what you were saying. what companies can absorb. that is not liberal orthodox. >> it is not. it is basic math. let's say an employer has $4000. minimum wages $10. that means you can have 10 employees. now minimum wages $15. now you have seven employees.
three less. that is pretty simple math. here is the important part. most of the folks are minimum wage. half of them are 16-24. they live in households with a lot of people making very little to low income. the more important aspect of this is three earners in a household. one loses their job. i do not care what you pay the other two, you bump them. this kind of stuff backfires on poor people so dramatically. when ralph nader talks about it, i want to cry. he is an intelligent man. he is just not doing basic math. neil: we should raise the minimal wage. not to $15. >> he is right about the fact that not a lot of people get this. it makes it an interesting
argument. 77 million hourly workers out there. it does mean something. neil: and follows a pattern. >> it is just like psychology. it could hurt this. there is a change. these are small businesses. these small businesses become large businesses. learning how to punch a clock, get a paycheck. it is part of a stepping stone. it is too small to be stuck in an important presidential topic. not too small that it does not matter to our economy. neil: okay. okay. i want to switch ears and talk about twitter. talked with steve ballmer. a 4% stake. these are pretty savvy investors
who now find this a bargain. what do you make of that. charles: at think a lot of people think that. i love this guy. >> he must be great to work for. you have to love him. this guy loves his basketball team. here is the thing, jack dorsey. he has two companies. he has another one that may go public any minute now. i do not think he is up to handle both of these jobs. they missed. they gave a press conference that was so casual. these two, him and the other guy were so comfortable with using people's money. we will figure it out. this silicon valley attitude. neil: why did the board keep that other job? >> i am just not sure. neil: steve jobs, it was either
or. charles: absolutely. there was no one else out there running. especially when they both have serious challenges. easy replicable business model. they have serious competition. it is not the business that people thought it would be three years ago. he will rescue two companies at the same time. the same guy that i saw chilling out at the press conference after he miss? this is the coolest dude in the world. i own some twitter. really, way too cool for school. neil: after he was running again. charles: i do not know. neil: the bottom line is it is unusual. charles: maybe ballmer can be persuaded to help with this.
neil: billionaires get bored. look at you. [laughter] charles: exactly. neil: the bitter boomers are very bitter about this. young people, millennial's working on campaigns. if they are the future, i think this is the boomers away of saying, we are going to pack up and go. ♪ mm hmm. just wanted to touch base. how did edward jones come to manage over $800 billion dollars in assets? huh. okay. here's our latest market outlook. two things that i'd like to point out... through face time when you really need it. so that's interesting, you know we had spoken about that before. it's how edward jones makes sense of investing. when a moment spontaneously turns romantic, . . and why stop what you're doing to find a bathroom?
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segment i do of the week. i don't have to say anything. i sit back and watch the sparks fly. what got my friendly, you know, boomers bitter is these reports now that all of the campaigns, their chief operators are very young. in fact they could be all of our kids. the staff of ben carson campaign is 22 years old. deputy campaign manager on mike huckabee's campaign, 28 years old. the press secretary for bobby jindal is 28 years old. that could explain. >> how old is trump's pr lady? neil: she is 12 years old. no. point is, man and women campaigns staffs are young. grueling process running a campaign. maybe that owes to it. many said the same about ham jordan handling jimmy carter's campaign. they were 20 at the time. you need young guys. our boomers don't buy this.
steven lieb, lizzie macdonald, charlie gasparino. charlie brady. what do you think, too young. >> too young and i think it will catch up with them. neil: what do you mean catch up? >> they will screw up. everybody screws up. one of the great things having a karl rove on your staff he seen past screw ups so many times he probably won't commit them again i think smart guys here done it, what makes people smart at this at any profession -- neil: talking about two young guys behind jimmy carter. >> look how great jimmy carter ended up. neil: kind of like the president. >> i don't think so much who is running campaign. charlie, i think agree with you. karl rove is seasoned guy, knows what is going on. but it is what are the issues that these people are going to campaign on? this country is going in the wrong direction. the millenials, now one of the articles i read, the millenials
are turning a little bit more toward the right. surprise? median income is falling. and student debts are rising. they're getting a little bit more going to the right. >> usage on campaign trail going through the roof. neil: yes there is.a lot of peog deal of their age. >> i think staffs of every campaign have been young by definition. my concern they're, issues they're focused on more social issues. more important things like economy and national security. >> totally right. i could not agree -- >> be clear here, they're smoking pot on the campaigns. you just know they're doing -- >> this is the problem. >> you didn't hear from me yet. neil: sorry, lizzie, can't wait. >> you're rivetted. so anticipating this. the millenials are for warren and sanders. that is no surprise given they come from totalitarian college campus, mullahs that don't allow free speech.
jerry seinfeld and chris rock won't go there to perform on college campus. millenial guys for warren or sanders we get it there, is corruption or oil executives. testify for congress. haul in college deans? neil: ignoring the fact -- i don't want to hear you yap. all these people are, i mentioned the young people who work for these republican candidates. >> who are the candidates again? carson? neil: bobby jindal has 23-year-old leading campaign. >> kick him out. he is not -- neil: george pataki. ted cruz a 19-year-old. >> ted cruz? none of them will be president. neil: no. very good point. >> youthful energy, don't see any "bitter boomers." working and voting for warren and sanders. >> this is the thing about the "bitter boomers," charlie makes fun because i talk about china.
neil: makes fun of you because he thinks you will die on air. >> number but look, what makes america, what has made america great, america was made great in the wake of the world war ii. bell labs all these inventions. sputnik, major threat to america. all of a sudden the apollo program appears. communism, major threat to eisenhower. interstate highways. neil: here we go. >> no breadth we think of except china and russia. look, china and russia are eating our lunch in cybersecurity. china all of sudden has stealth jets that match our jets. >> we all know about that. millenials are waking up to that. >> they are in good shape. neil: lizzie maybe young people in the campaigns, republicans democrats, maybe they find a fresh way to do something none older guys have done yet. >> that is optimistic way looking at it.
my fear from helicopter parents who did everything for them, leaning now towards bernie sanders who is promising big government around welfare state that will do everything for them >> we can not afford another eight years. millenials will be in 30s. neil: you're one of the smartest people in the building which says a lot about this building, i'm not counting. now,. >> how about ohio? neil: ohioians, right. >> getting hot in here. neil: these are young people on republican campaigns. not one of you had problem with that. >> i like youthful energy. neil: that is what i'm saying. picking only on the warren for democrats. >> they will vote for sanders. neil: you don't know that. >> they are. >> no way i will turn down millenial women. >> there are a lot of very pretty millenial women. >> did you see donald's press secretary? >> oh, god. >> no, she is very smart and extremely attractive.
neil: charlie, have anything to say? i'm looking at all of this, you guys have been lecturing to get involved, get, make a difference. all these young people have very tough jobs. very high-ranking jobs in these campaigns and you're glossing it over. damned if they do and damned if they don't. >> i'm so happy that hope picks up my phone call. >> i think young people doing the grunt work is fine as long as they have baby boomers as advisors. >> right. >> it was baby boomers that put in achieve things. neil: baby boomers spent all their money. >> no. the baby boomers were responsible for interstate highway. again the apollo program, the internet. >> so what? >> cyber highway. we're losing, we're losing out on -- neil: a lot of people come in thought they with suck up to them.
what about this? and he is very patient with each and all because he is very good guy. but you seem to get annoyed by them. >> yes. we had many conversations about this. >> we'll keep that off-camara. neil: be honest. >> millenials are so prevalent in the campaigns they're trying to get the millenial vote. millenials accounted for 15% in 2008. will be overwhelming percentage. right now they're leaning -- neil: i go into any campaign office, i see mostly young people in those offices. >> i hear what you're saying but to charlie's point, they come from a world of academia, no first amendment, no free speech. >> that is absolutely -- more than really bad -- >> give them credit. conservative millenials, we have to give them credit, they're attacked every day in college. >> that's right. >> and at the survived it. maybe that is why they're at these campaigns because they're battle hardened. >> that is really good point.
neil: wait a minute. fox alert should be that charlie gasparino says some millenials are okay. >> that is news. >> i give those gals that you give a hard time, what is her name -- >> only a boomer uses a the word gals. >> from "national review." think about it, they're good people because they were tough. they were attacked. >> thing for themselves. >> when i was in school, there were a lot of liberals but i would threaten the liberal professors back. neil: now that is inspiring. >> now, now you're so attacked by everybody. neil: i'm going to rip your head off [laughter] >> conservatives are very tough. >> we're putting political correctness, social issues, not that they shouldn't be ignored above issues at that will make make great again. we need infrastructure, technology. >> aren't these millenial conservatives like the marines, battle hardened?
got their asses kicked and now -- >> we do need. these are the people that may make america great. >> china! >> we have to wake up to china as a threat and russia as a threat too. i can't stand that idea. neil: i agree none of us got to the issue at hand. all right. speaking to the nation with president of south korea. we're getting confirmation, just as we thought, in fact twitter does have steve ballmer has a big investor, 4% stake. how do you say that in 140 characters or less? >> you just said it. neil: there we go. more after this.
>> i'm nicole petallides with your fox business brief. dow jones industrial average up 13 points right now, 17,154. for the month of october the major averages are up 5%, a winning week on wall street. transports to the downside. we're watching united continental. the ceo suffered a heart attack. at this time united directors are respecting his privacy. no updates are given. the stock has slipped down 3%. dow and s&p up it 2 at moment. winners are -- transportation index like dow and s&p that is loser this week africans city southern, we're watching railroads, that reported weakness and weakness from ryder earlier this week.
park goon -- feun-hye. north koreans are not listening to them. katie pavlich, and adam lashinsky on that threat. how big of a deal is this right now to get this in order here? >> very important we confront north koreans of credible force. not even incredible force. have extremely large army and within fairly easy range of seoul. they're tough customers. they are run by crazy man. for those big bleeding hearts, number one issue with south korea, they eat dogs. and dogs should not be a part of anyone's diet. neil: well i'm glad you brought that up. adam? >> well, the best news here, neil, is that the chinese are involved. this has been a foreign policy failure on part of the chinese they haven't been able to rein
the north koreans in. the very fact they're speaking to the united states and south korea, in a way china should do because they're a global power, that is very positive development. they can snap their fingers to get the north koreans in line if they only would. neil: katie, south korea is pushing three-way alliance with us and chinese. we didn't initiate that. i don't know what to read into that. what do you make of it? >> i agree with adam in terms of promising relationship with the chinese and us when it comes to south korea but this is over all snapshot how the world is looking at situation and allies in the situation. look at north korea and their nuclear program. and signed a deal with the iranians, same woman, wendy sherman, at state department, negotiated the north korean deal. the north koreans cheated on that deal.
the iranians cheated on this deal. >> she is pathetic. >> south korea says united states is looking weak and emboldening enemies not allies. we'll see what the president has to say. it is an issue north korea being allied with iran and russians as well. neil: ben, i heard you there. we have obviously seen north koreans made a deal with republican and democratic presidents all the time, every time. >> always. wendy sherman is the weakest of the weak, weakest of the weak. neil: i see where you're coming from. now on this, this, ben, i'm wondering then what message says for iran and whether we do something to scrap the deal all together right now? >> we should scrap that deal. they're apparently already cheating. there is data in "the wall street journal" they're cheating already. let's scrap it. go back to the drawing board. rebuild america's defenses. get republicans and democrats working together to rebuild america's defenses.
they would be in seoul in half an hour. it is really, really scary. we have to rebuild the defenses. only thing holding north korea back that vague threat we would use nuclear weapons against them. that is not enough. we have to have meaningful forces there. it is just not enough. neil: adam i want to get your thoughts. pay our bills. quick commercial, back to the white house. the two leaders talking about how they deal with the threat. not iran, for the moment north korea, in their neck of the woods, a more bigger threat. more after this. wow!
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park geun-hye. they are asking united states to work with china to address the north korean threat. back with adam lashinsky and ben stein. katie pavlich had to go. she had it with these guys. no, she didn't. she had another thing to do. >> who can blame her. neil: what do you think about the importance of this. we're very concerned about north korea cheating? we know the history of north korea cheating and iran cheating. now we've got to do something but what? >> well i think it is fine and appropriate to look at north korea's cheating in the past, this makes us look weak. we came to an agreement, it didn't work out. we should be aware of that that being said everyone of these deals have its own levers. we have leverage in each deal. north korea is crazy. economic leverage doesn't would them. only thing as ben said the threat to obliterate them. iranians, i would hope they're a little more rational. neil: have you seen what they have done this week?
have you seen what they have done? testing mid-range missiles. >> yes. neil: nothing new that they threaten death to us. flaunting it, throwing it back in our face. ben stein that is what worries me. >> i don't think there has ever been a case where aggressive, militant, well-armed power confronted by a weak fading power did not take advantage of that weak, failing power and we're the weak failing power. we're the weak failing power. america, you say turkey was sixth man of europe. america is the sick man of world politics. >> but ben, i think, i don't think there, i think you're overstating things. i mean, we look weak, perhaps we're declining, relatively speaking, perhaps. but the to call us the weak man of europe to say, we're failing -- >> i said world politics. of world politics. neil: adam, i love you dearly, adam, french foreign minister, french foreign minister when he
got word of latest cheating of u.n. resolutions on these missile tests the french foreign minister was worried. i will leave it at that. >> i see your point. it is not look weak compared to the french. it's a fair point, neil. neil: i think it's a very fair point. ben stein what do you make of it? >> i make of it the fact they always cheat. all these aggressive militant powers always cheat. you can't go back in history and find countries that didn't cheat. they all cheat. why would be we surprised? iran has a goal, obliterate israel and dominant power in the middle east and one of the world's dominant powers. why are we surprised they're already cheating? russia wants to be dominant power in europe. why are we surprised they're cheating? we're only ones that live up to our agreements. everyone else is laughing at us. neil: when you see all the developments and markets shrug them off, their focus may be on more day-to-day concerns like twitter and rumors big
eninvestors coming in, not the big macro issues until they blow up in their face, but what do you think of that? adam, all these concerns and worries how we seem to be embarrassed in the middle east and whole thing with north korea spiting us but they just go on, what do you think of that? >> well i think it is appropriate and these investors we're talking about are computers, they're ultrarational, right, neil? i often marvel when they react to macro forces and geopolitical forces, then the next day everybody forgets about it and snap back again. you almost feel foolish for these stocks having trading down because of something or up because of good political news. they adjust to, what is the discounted cash flow? neil: something blows up in their face or greece will bolt on its debt or europe is going to fall apart or war in the middle east. only then they react that way.
that is human nature, ben, but i'm always intryinged by that. what do you think? >> i am intrigued, great expert in finance don't realize these traders are a bunch of young kids. they think about how they make money. neil: you can join our "bitter boomers." >> they're not political scientists. i'm older than that they are people who are, living in the moment. they just want to see what they can make money that hour or that day, that minute. they're not philosophers. they're not henry kissinger. they're players and want to make dollars to come from to buy their next $3500 pair of shoes. neil: adam, we're hearing, there are protesters outside the white house on this summit. i don't know against south korea, north korea or what ben said about the dogs. >> they could be dog lovers. >> yeah, dogs. neil: the fact the south korea
is very concerned about our tepid approach to north korea. should they be? >> of course they should be. they're 30 minutes -- neil: took your sweet time answering it, you know? >> there is 30 minutes from the dmz. they're in similar situation to the israelis, neil. they can be upset with us but ultimately they can't cross us too much. whatever they do they have to do in consultation with the united states because we guarranty their safety every single day. neil: all right. >> they know that. >> guys, tha you both very much. we're still waiting to hear from the president and his south korean counterpart to work a three-way deal to try to hold these nuts in north korea in line. easier said than done. a thing about country like north korea and run out of money and options, sanctioned up the ying-yang, that is my own term for up -- any way, they will do anything. they're very desperate. how that is spelled out what we he do in response, we'll bring
you up-to-date. steve ballmer is investor in twitter. and keep you up-to-date, aol off worse news of the day because the ceo had mild heart attack and will be back in the office in two weeks. that is how i leave it to my friend trish regan. trish: thank you so much, neil. i want to go back to the live picture at the white house we're showing you. we're awaiting a press conference from president obama and south korean leader. we'll bring you any breaking news. joe biden inching closer to a run as one of his aides outline as strategy to capture the white house. we'll have intel. donald trump calling bernie sanders a quote, maniac. we'll have more on showdown between billionaire capitalist and socialist ahead. hillary clinton is burning through her cash. spend, spend, spend. is this a sign of how she would run the white house? i'm trish regan.