tv Cavuto on Business FOX News December 17, 2011 10:30am-11:00am EST
bad for water-- >> jonas bull or bear. >> forget zynga, eu sports actually makes money. >> bull or bear? >> bear. >> don't like that one. no gains, coming up it's all business on cavuto on business. >> well, a funny thing happening in the fox news republican debate. the frontrunners actually agree. hi everybody, i'm neil cavuto and fox on top of mitt romney and newt gingrich talking about a new plan by the red and blue to save green, maybe a lot of green, with the bipartisan what they're calling medicare fix. an off shoot of paul ryan's original fix, the same fix you might recall newt gingrich slammed and so i asked gingrich about the switcharoo in iowa. >> earlier on this, this might have confused congressman ryan and others for whom you had said was the initial medicare fix that it was right wing social engineering and later
on you backed off the comment and said there was much you could find in mr. ryan's plan to like. >> can can you blame governor romney for saying you have a consistency problem on this issue? >> i'm not in the business of blaming governor romney. i'm in the business of trying to understand what we're doing as a policy. governor romney came up with a great variation on the plan which allowed the maintenance of the current system and paul adopted that and a brave act by weeden. i've enforced it and i think na governor romney deserves some credit to help figure out how to make this thing workable. a nice thing to actually have a bipartisan plan in washington that we can look at in a positive way and hope would help save medicare. >> neil: governor romney, you want to respond to that compliment. >> yeah, thank you. today republicans and democrats came together with senator widen, a congressman
ryan saying we have a solution to remove the 62 trillion dollars, this is a big day for our kids and grandkids, it's an enormous achievement. we finally have the prospects of dealing with something which has the potential of crushing our future generations and a good democrat and good republican came together and this is the impact of people on both sides of the aisle that care about america in a critical time and i applaud it, it's good news. >> neil: all right. so newt likes it, mitt likes it. what to make of it because the white house, well, it's not a big fan of it. or actually these guys. and blasted the medicare plan saying it would end medicare as we know it for millions of seniors, so, are we looking at granny off the cliff part two? i'm still convinced that's the late great harvey korman, but i digress. to dagen mcdowell and adam, and dagen, what do you think of this? >> the white house communications people said that this plan from widen and ryan, by the way, who is a
democrat, who calls caused medicare to whiither on the vine and play book in 2012. they're going to talk about it endlessly, it's going to that the republicans want to end it, and push granny and granddaddy off the cliff. and this is going to be something that they try to hammer, but i do believe that the ryan-weiden plan at least opens the door, bipartisan to a normal ragsal conversation. >> i don't want to get too wonky about this, but-- i am a dork, but me, okay. charles, the idea was that this was going to give people flexibility. you can go with this health care plan or stick with the medicare plan, easier said than done. you have a democrat on board, top republican on board, makes it bipartisan. >> you look, we were talking earlier about, moving on about the president's poll numbers and recent approval numbers very bad.
i think this is a degree of fatigue with the president in terms he's against anything, that makes sense and it's starting to see-- if you think about it, simpson bowles was another one of these bipartisan ways of dealing with deficits and social security and entitlements and reforming it, he's against it, against this, a bipartisan plan. at some point, that starts seeping in and people say, what are you for, the status quo? i'll tell you, i'll say this right now, that this president, the economy could get better, but the president is going to have an uphill battle unless newt gingrich gets elected and it gets nominated and the president has an uphill battle because he is the status quo and that's not good. >> of course, we want to talk to you, larry, we're aware-- >> larry. >> and the snapshot right now, adam lashinsky looks like the president resisting any adjustments in the medicare
program, that can't be good even among medicare recipients who like the deal they have now? >> well, i think politically, the president is not against any consensus or anything right now. charlie, he's against anything that the republicans say, because-- >> and yeah, but this was-- >> i'm not, he's running-- he's running for president. and this essentially is the ryan plan. whatever the merits for it are-- >> and well, because for the same reason that romney and newt agreed about something the other night. >> and why did erskine bowles join with-- >> i love being grilled, i love being grilled by you, while i'm trying to make my point. which is he hasn't-- by the way, he's not against bowles simpson, he just didn't do anything about it. i mean, i agree with you, he has not been good on this and he's not being good on this issue, either. it's silly, by the way, to suggest that the republican invented the scare tactics on "mediscare."
and the death penalty and obama care and-- >> and we promised-- >> you're right, both have plenty of blame i'm talking here and now, this example, scott, on this example. where we have at least the beginning of a bipartisan agreement to try to address or a combination of the program we have now, mixing a voluntary effort if you want to go that way, move past the throw granny off the cliff. the administration takes a pass. i think that to a lot of americans who want to see progress on entitlements, this is going to look like a president running for reelection. enough said. >> and i hope so diehl, like you said, it's a good start and i don't see what the wig deal is, guys, this is the end of medicare as we know it. medicare is broke anyway and going to hurt the 54 and under people that this is going to affect anyway and on this show, guys, and-- (laughter) >> listen, that's why i'm giving you the truth because the truth is, if you're 54 and under and medicare as the plan
stays now, it's not going to work out anyway. >> neil: wait, wait, 54 and under-- >> if you're 54 and under, medicare is not going to work the way-- >> i just want today hear you right. >> the reason this works as a tactic for the democrats, because republican or democrats on medicare, once they're in it, they like it for the most part. and they can-- people, my parents, for example, they spend a whole lot more money in medicare than they will ever put into it. and we have not yet had to truly face-- >> your poor parents are stumbling around on the medicare bill and they have the-- rich daughter not helping out with the medical bills? >> they're on medicare, and my point is we have not-- >> ar there's an argument to be made that-- >> helping mom and dad,
helping mom and dad and the not shoving them on medicare. >> and medicare is part of power fiscal crisis, but we don't have to pay for it yet. again, we're still borrowing money at 1.8, at 1.8% a year. >> people see europe and they say i'm not saying we have a sea change here, but people look at europe and say at some point when does it come to the point we can afford stuff. >> i'm particularly troubled about dagen and her parents. >> you know, i'm sorry, i'm the not going to pay for your cholesterol medication if you're going to eat cheese. >> what is mom and dad's collateral medication, you're shoving them on-- >> it's called entitlement, they put money in and dog gone, they want their medicare, republican or democrat they think the same way. >> maybe he they won't get any of it. >> on the way home-- >> they're in it and going to get it. >> and the people who made you and are counting on you. >> here we go. coming up, talk about a pain in the gas. and new gas prices as the
prices are coming down. next, the republican front runner throwing stones because they say the key to more jobs is being blocked by the white house. i know you're worried about making your savings last and having enough income when you retire. that's why i'm here. to help come up with a plan and get you on the right path. i have more than a thousand fidelity experts working with me so that i can work one-on-one with you. it's your green line. but i'll be there, every step of the way. call or come in for a free portfolio review today.
>> this is a fox news alert. live from america's news headquarters, i'm jamie colby. senators passing a two month extension of payroll tax cuts. both sides unable to agree to extend the payroll tax cut and unemployment benefits for a full year. now, the deal they made includes a provision speeding up president obama's decision on the keystone xl pipeline and adjustment medicare payments, avoiding steep cuts for doctors who treat patients on medicare, vote on a bill to fund the government for the rest of the fiscal year expected next and defense secretary, leon panetta, greeting during a historic visit to lib yachlt the first pentagon chief to step on libyan soil ace the removal the dictator gat if i serves ga
people have a right to determine their own future. i'll send it back to cavuto on business. i'm jamie colby, keep it on fox. >> given his opposition and the likelihood that the keystone issue could be up in the air for a year or more, how do you recommend republicans deal with this to force the issue? >> you know, neil, i sometimes get accused of using language that's too strong, so i've been standing here editing. (laughter) >> and i'm very concerned about not appearing to be zany and-- (laughter) >> it is, i'm using mild words here. utterly irrational to say i'm now going to veto a middle class tax cut to protect left wing environmental extremists
in san francisco so that we're going to kill american jobs, weaken american energy, make us more vulnerable to the iranians. >> no offense, sir, but you didn't answer my question. (laughter) >> what would you do. >> and i'd say to the president you want to look like you're totally out of touch with the american people, be my guest, but i'm not backing down when we're right and you are totally wrong. >> the radical environmentalist said president obama, you pass keystone, we are pnot going to do your volunteer door-to-door work. he's put his reelection, over the jobs and making america independence. i would say as the president of the united states we would have put keystone online immediately. >> neil: so that got to be a feisty debate there. and if you build it the jobs will come. and not opening up the keystone project-- but this is for a year until the election is resolved one way or the other, right? >> neil, and our energy, i
guess, policy history in the last couple years has been so good, right? we had solyndra and fist kerr and not going to do the pipeline because we're in election mode. we've got to get energy independent and a system going from canada and listen, you're going to create a lot of other jobs besides construction, a lot of economic benefit from externals from the pipeline so it's got to be a go. >> neil: you know, adam in first nonanswers from speaker gingrich, it was pretty good oversweeping view of this, it does seem ironic that at a time we're worried about, you know, the iranians and what they might be up to and whether we want to depends on mideast oil, we're shutting down what could be a, a valuable tool and outlook for oil here in this country and you know, we've got off the issue of what to do about it. but the point that we're fiddling while our energy rome is burning, so to speak what. do you make of that? >> i actually think in michele
bachmann's answer we saw the difference between running for president and governing, she said i'd turn this thing on right away. he when you're president you have something like what happens in the gulf with bp happened and say i'm going to be on the line if i just turned it on. make sure that it's safe and then he we turn it on. i mean, everyone agrees that there are good jobs here and that's the issue with obama. >> you're joking, this is not an issue of safety at all. it's a political issue, he doesn't want to deal with it until after the election next year. number one, the more ironies, the teamsters and other unions want this to happen because of the job creation and the irony is-- >> it's still going to happen and the eyed was, he didn't want to stick with his environmentalist friends and it's possible that the canadian prime minister could be shipping the chinese and-- >> that's another irony, if you ship this oil to china, the-- it's the pollution from the shipping, it's substandard refining and then it's going-- >> very good points. >> then it's going into
factories, causing more pollution-- >> and so the people are determined to destroy us, gaedz. >> and i would point out the reason you had bp such a problem, adam, because it was so far off shore and the reason it was so far off shore because of environmental reasons and build it so far and the whole lie about how if you turned it, you know, the oil won't come immediately and won't do anything to deal with gas prices and you understand that oil is set in the futures market and the future markets sees future supply and the price of oil generally goes down and i tell you, this is going to be a hard thing to fight against during the election and people don't like high gas prices. >> and you understand there's a lot of oil in the deep water in the gulf. >> doesn't that sort of depend, whether this is a factor the at all on oil prices? >> if you can argue anything, you know, all over extreme swings in the market, maybe this isn't a factor, so, the president gets a pass, what do you think? >> i'm not sure, neil. i'd argue the last couple of
weeks as far as the oil price movement is clearly because of the issues in iran and not because demand going up over the holidays, it's right. it's a futures issue and if the energy market sees that more supply is going to come on, naturally, price is going to go down and i think, generally, that's going to be a good effect on gas prices in america. >> you know, though, i wonder, i tried to get this out of governor huntsman, but adam to the point, is there a point where the republicans or should there be, maybe i'm talking to the wrong guy, there is some environmental consideration, where you would put a limit on tapping oil. in other words, where the need to protect our environment, trumps whatever, the systems and new jobs he gets. and would there-- the republicans just seeing the environmental ground and saying it's dot, dot, dot? >> again, it becomes an issue of governing, it was nixon who did so much to promote the epa and a sitting republican president, of course, would do that when push comes to shove. >> okay, that's a very erudite
they met with the branch manager and they said, "look, we've got this little hot dog cart, and it's on a really good corner. let's see if we can buy the property." and the branch manager said, "all right, i will take a chance with the two of you." and we've been loyal to bank of america for the last 71 years. >> koich coming up, mitt romney taking heat for cash
president obama was on his own dash for cash at $18,000 per plate. a big fundraiser in the nation's capital. and that's a lot of capital. >> so, no, no surprise, no reaction. what was it for the occupiers? >> charles? >> you know, obama, basically has set records with wall street fund raising over the last, i guess, five years since 2007. >> and what's pacing now? >> mitt is ahead of obama. 7.8 versus obama's 4.-- >> all you have to do is look at one firm and you get it, go goldm goldman sach's, the a number one contributor to mitt romney, that's you have to look at. >> and look at numbers, and
how much mitt is rising and back-to-back visits in new york in the past week, and why not the president? that's, that's just, you know, fair is fair? >> neil, i agree and don't forget in 2008 he took all of his donations from the private sector and set records as charlie said and look, mitt and obama going back and forth as far as the lead, but blowing away the other republican candidates, so, maybe we should tell the occupy wall streeters that information. >> and i did want to point out that the finance insurance and real he estate and obama back in 2008 whooped john mccain in terms ever raising money for them. 42 million versus-- >> and i could have raised more money than john mccain. >> i think that john mccain was essentially, you know, detested by wall street. >> and people forget-- >> 41 million dollars raised-- >> and point out obama's wall street support is interesting. not the banks that equal fat
cats kind of public figures. >> jamie dimon and it's the hedge funds, the guys behind the scenes that work quietly and those guys are giving a lot of money to obama and they've been lining his pockets for years. >> i think that charlie just made-- i think that charlie just made an astute observation. >> and goldman is going for romney, that's very good news for obama, given goldman's esteem right now in the country. >> all right, my thanks, very much to charlie and dagen, have a great weekend, guys. >> okay. >> meanwhile, who needs a fundraiser he when you can improve your funds with these stocks. our gang with the names that no one should protest-- . ywhere. real, objective investing help? that's a little harder to find. but here's what i know -- td ameritrade doesn't manage mutual funds... or underwrite stocks and bonds. or even publish their own research. so, guidance from td ameritrade isn't about their priorities. it's about mine. straightforward guidance.
market growth. and raise funds. adam what do you make of that pick? >> this is predicated on a strong retail environment. i am optmistic about retailing now. it is a stock that has done well. >> what are you doing now? >> one less out of favor. corning glass and extremely inexpensive. six times of the revenue. there is concerns about the pipe line. it is a good company. it will be fund raise. >> adam said it. it has been out of a favor for a reason it is a money loser >> are we heading into something bad. everybody seems to think recession . >> i am worried about europe. 20 percent of the s&p 500 earnings come from over there. and i think that's what stocks are doing? >> adam? >> there is a