tv The Daily Show With Jon Stewart Comedy Central April 9, 2015 11:00pm-11:32pm PDT
ah! - [bleep] 'em! - the south park video game, coming to stores soon. - yeah, and if you believe that, i got a big, floppy wiener to dangle in your face. from comedy central world news headquarters in new york, this is "the daily show" with jon stewart! (cheers and applause) ♪ captioning sponsored by comedy central >> jon: welcome to "the daily show." i'm jon stewart. my guest tonight, massachusetts senator elizabeth warren and i'm excited to announce that she is, in fact, running... on time. (applause)
there's a saying for something you see something a little off, strange, you think, oh we're not in kansas anymore. that originated when the base player and drummer were fired from kansas. (laughter) i believe they may have turned to each other and said we're not in kansas anymore. kansas is our standard bearer of normalcy to some extent but now it's run by governor sam brownback who walked the walked of his conservative princecals and transformed the states into a utopia of rights, low taxes and deregulation for everything! >> kansas governor sam brownback has signed a new concealed weapons law for kansas. >> the measure eliminates the eight hours of training previously required by state law and the need to carry a permit. >> that's eight hours you could have already been shooting stuff! (laughter)
same state that believes eight hours of gun training requires 1,000 hours of training for ease for for estheticians. you can't be too careful with hot wax and butt hair. (laughter) we've all been there. but before you go to see the barbed wire museum in kansas, there's no need for kansas shooters to go to safety school. >> brownback said he signed the bill into law because kansas gun owners have shown they're responsible. >> that's the reason you allow your children to get a hamster. oh, you've shown you're responsible. you can take care of the
hamster. by the way even then you're going to want to keep a couple of shoeboxes around. you know what i'm saying? why is that kid still smiling? he never changes expressions. is that a live hamster? doesn't care. why would kansas do this? >> one of the bill's sponsors say removing the training requirement might actually improve the training. >> sitting in a classroom where you're -- basically the state is lecturing you on what the law sand what you should and shouldn't do to absolve themselves from the liability. >> so you're saying you improve the training by getting rid of the training -- i don't need some damn government egg head gun instructor telling me what to do! i go to the school of trial and error just like my grandpa one-nut bobby -- one-nut bobby -- one-nut bobby couture-lovelady! is that -- couture-lovelady!
(laughter) what is couture-lovelady doing in the kansas state house when he should run his own fancy hat store? (laughter) erase your destiny travis couture-lovelady! now, normally at this point in the news story you try out token lefties on the gun training requirement but on this issue you don't have to go too far left. >> even gun owners at a shooting range agree removing the gun training takes things too far. but lawmakers are saying they're erring on the side of freedom. >> you know what they say about guns, better son rithan safe. nice to know we both agree you're erring. it is an outgrowth of the confidence governor brownback feels in fellow kansans. like when he came in office in
2012 and said his faith was in the people of kansas not the government because the people know better how to spend their money. ted brownback trusted the good people of kansas. what about the people of kansas who aren't good? we know the poor ones. >> brownback is expected to sign a new bill into law this week. it would put limits on where people receiving welfare can spend their government assistance. >> ahhh! so when it comes to the poor people we're deciding to err on the side of fire of fiefdom. it used to be alcohol, gambling and smoking, now kansas decide toaksd band restrictions. >> won't be allowed at moving theaters swimming pools.
>> malls and nail salons. so if you're on welfare in kansas you can cross this mall off your list. (laughter) >> jon: of course, one fun accessory you can get with relief money. >> guns and ammo. >> jon: it's true, poor but still an american. the brownback principle is government mas no right to dictate to you how to spend your money or hold your gun. something like this or something like this or like this -- it's your choice! until you're on the dole. then you forfeit those inalienable rights and the government can then step in and treat you like a bad child. you haven't recovered from a national economic collapse? no movies. it should only be for what you need! and the government gets to tell you what you need! which comes to this point for
kansas to be making this decision is a little strange because according to the latest figures available, for every dollar kansas contributes to a federal government it loses $1.29. >> kansas school districts say they have to close early because they're out of money. >> have to take money away from highway repair projects. >> governor brownback is reducing the contribution to the program. >> cuts are to the museum and the zoo. >> barbed wire museum is still safe. i have an anniversary coming up. (laughter) that's the fact, kansas you're on the dole. if you need to take tax money from new york and illinois that's okay, just remember the fact that you're accepting government assistance shows you can't be trusted to make your own decision and while you're on welfare you're still having fun. you'd love to eron the side of
freedom for kansas but for your own good we have to have restrictions on how to spend the state well fair. the state has a pretty flashy shape. all those extravagant right angles. all those roads paved in luxurious asphalt. i don't know. from now on your roads will be paved with used condoms! and all those ag subsidies instead of watering with freshwater, should taxpayers shouldn't have to support that, from now on, urine. this may feel insult bug maybe it will motivate you to escape federal dependency but until then let's see how you feel like
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what's in a drop? the expectation of what comes next. that's what keeps the energy going. the drop refreshes the beat every time. so what's in a drop? ♪ (cheers and applause) >> jon: welcome back! my guest tonight, united states senator elizabeth warren, whose book is called "a fighting chance"! please welcome back to the program, senator warren! (cheers and applause) ♪ >> thank you! >> jon: senator! >> jon: "a fighting chance" -- wait a minute.
that is you! >> it is! >> jon: very nice to see you. congratulations. i have been reading -- i read sometimes, what are they called, blogs. you have your own wing now of the democratic party. there is a warren wing apparently. i don't know how big the wing is, could be just a couple of rooms, but i think it may be growing. do you feel that sense? >> you know, i do feel that sense. >> jon: yeah. and it's not my wing, it's our wing. it's the idea -- >> jon: it's a warren wing. don't fight the alliteration it works. before we get into it, this question has been on my mind for a while. the politicians in washington, are they cynically manipulating or are they or true believers? do they really believe the system is not corrupted or are they aware of pulling the levers of power to attain?
the latest case is this menendez indictment. >> you know, the way i see it is that powerful corporations, rich people have figured out that if you can bend the government to help you just a little bit, it's a tremendous payoff, and if you can bend it to help you just a little bit more and more, the playing field just gets more and more tilted and the rich and the powerful just do better and better. so they've invested in washington. they've invested in washington in contributions, but they've invested in washington in a million other ways. the lobbyists are there every day, every meeting that occurs, they're there in the regulatory agencies. they're there all over the town to make sure that the tender fannies of the rich and powerful are always carefully protected in every rule that's written, in every conversation, in every discussion.
>> jon: but does that no longer feel like corruption to them? in the way citizens united and the supreme court saying if it's not quid pro quo, if they don't say, here's a giant bag of money and you tell me exactly what you want to do, unless it's that explicit, they're suggesting that is no longer corruption. this menendez case this, guy gave him $500,000. he helped negotiate millions of dollars in contracts in the dominican republic. do they look at it as that's government? >> you know, i think that the problem we've got is that there is so much money flowing into washington, so much power, some -- so many lobbyists that it becomes the norm. and i want to say it this way the wind only blows from one direction, the direction from those who have money. i don't know if you remember but a long time ago i was on this program to talk about an idea for -- >> jon: i don't watch this program, so i don't -- >> it's a good program.
you would like it. >> jon: to be honest, i find it a little crass. >> one of the bigger episodes talked about the idea the biggest financial institutions basically cheat families, on they've done it on mortgages, credit cards payday loans. >> jon: sure yeah. and the problem wasn't there wasn't any law to cover this there were a lot of laws but they were scattered among seven different agencies and no agency felt responsible. those agencies always heard from the big banks never from the families. so i had an idea for a consumer agency. gapter up all those laws, put them with one agency, give that agency the authority to get the job done to level the playing field on behalf of families and to hold them responsible for it. you will be shocked to hear this but the big banks really didn't like that idea. >> jon: what? congress didn't even want to fund it! >> so where we started with this, we didn't have the agency at all. the question was could we get
this agency passed into law. i talked to a bunch of people in washington -- you know, i was a professor -- >> jon: at that time you were not a senator. >> i'm not a senator, i'm not connected in any way, i go around and talk to people and they tell me two things. they tell me, one, that is a great idea, you can actually make a difference with an agency like that and, two, don't do it. they said, don't even try because the big banks will shut this down. i know 100%! but here's the deal! we fought back and got organized. first conference call i ever did on this consumer agency had three people and i don't think that legally qualifies as a conference call -- >> jon: i'm sure it's not. but from there we started getting into groups like aarp, consumer reports, the afl-cio and the naacp and they all said, you know, this is not our first issue but this stuff about cheating consumers, it comes somewhere in the things we care about. more than 100 groups got
organized into americans for mansion reform. -- for financial reform. they pushed and we got that consumer agency passed into law. we did it. people did it. we worked hard and did it! (cheers and applause) >> jon: we're going to come back. i want to get into the student loan thing. back more with senator warren right after this.
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(cheers and applause) >> jon: back with senator elizabeth warren. i know you've got a huge thing on this student loan thing. what i want you to explain to me because this is the difference between cbl accounting and fair value accounting. what is -- what's the difference -- because apparently that makes all the difference in the world to student loans so
what is the difference and is there a difference? >> the question is right now in washington how you do the accounting for anything, where you spend money or have money coming in. >> jon: so we can now agree on science policy and math. >> and hire's why it matters on student loans. >> jon: all right. the interest rate on student loans depends on when you took the loan out. so there are folks who have loans at 6%, 8%, 10% even higher. >> jon: back then the interest rates are hiring, inflation was higher and -- >> even now the interest rate on student loans, depend tong the kind of loan, is pretty substantial. we're in a low interest rate environment. you can refinance your home. you can refinance your business loans, but you can't refinance your student loan debt, and the reason you can't refinance your student loan debt is because the government won't let you they won't refinance you. they keep you locked into the interest rate you've got.
>> jon: so you win if you lock in now and it goes up. >> yeah burks here's the trick. the student loan interest rates are set so that the federal government is making money off them. the loans, for example just from 2007 to 2012, just that slice of loans, is on target loans now to produce about $66 billion in profit for the united states government. >> jon: $66 billion just from that. >> that's after the bad debt and administrative costs. >> jon: under good value accounting they say that the federal government is losing money on those same loans. how is that possible? >> so what some folks want to say is that is obscene for the federal government to be doing that. i'm one of the people who thinks that is obscene. >> jon: okay. so those who have voted against reducing the interest rate on student loans said, well, if we used a different accounting method it wouldn't look like the federal government makes so much in profit. >> jon: but what is that accounting method? did they just make it up like for instance let's take out
$50 billion? >> yes. that is a big part of it. >> jon: right. so they say let's account for how the government's money works as if the government were a private company except the government is not a private company and it doesn't get the same kind of risk ratio. private companies who are not a big bank can actually go out of business. so there's a risk factor in accounting for private companies that's not there for the government, and what the republicans who voted against this say as well, it wouldn't be such a big profit if you would use a different form of accounting. >> jon: right. but keep this in mind about it. the real key is that it produces these profits the cbo says yep these are the profits it produces. why can't we just reduce ther are rate? we should not say to kids if your mom and dad could write a check for college you pay this
much for college but if they can't you've got to pay a much higher rate because you've got to pay more on your student loans. >> jon: wouldn't that count as economic stimulus if the government wasn't going to get it directly wouldn't that money be flowing back into the economy in other ways? >> let's do it that way. if we would reduce the interest rate on student loans young people would have a lot more money to spent. >> jon: and they could buy more weed and be quieter. i'm not wrong about that. >> but the federal reserve, the consumer financial protection bureau and the fdic also point out they can find more -- they can buy more homes, more cars, start more businesses, they can do more things both to get their own economic lives started and to keep this economy -- >> jon: the big banks have been at the fed discount window for years and years borrowing at zero%. why is that okay and why isn't that costing the federal government tons of money because those banks go back and buy
treasures which even if they're getting 2% or 3% the u.s. government is still using that money, why aren't students being penalized for not being businesses but businesses are being basically handed money. >> because the big banks have a lot better lobbyists than the students do. i'm sorry but that's what it comes down to. we should not be charging our kids more to get a loan to go to college than we charge big financial institutions in order to -- (cheers and applause) >> jon: i understand it a little better now. you should be a professor. >> it doesn't work out that way. >> jon: you should teach a class on this type of thing. "a fighting chance," senator elizabeth warren. (cheers and applause) ♪
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america! new yorkers love all-natural snapple and we want you to love it too! snapple's born in new york. it's one tradition that's never going out of style. snapple is more than just a drink. it's got simple ingredients: real sugar, real tea. salud! every time i open this and i hear that pop. (mouths: i love that pop!) new yorkers love it. you're gonna love it too! snapple, made from the best stuff on earth. >> jon: hey, that's our show! you know, in the spirit of this has been a time of some turnover here at the program as you know there have been announcements about a lot of different people but in fact i think i have been fired -- (laughter) but before i ever got to this program, there was a young documentary filmmaker who was very callanted, kahani, probably
back in 1942 when the show first started and she was, like one of the first people ever hired at "the daily show" with craig before i ever got here and has been here as just a rock and a font of insight and talent from that moment forward. well, today is her final program. she is now going off back to her true love filmmaking and documentaries and leaving a big hole here but we wish her well and we're excited for her and i know she's excited as well. (cheers and applause) >> it's important for young mothers to have lots of calcium. there you are. see you tomorrow night. >> bye. how are y
>> larry: tonightly. ( cheers and applause ) that's right. also tonightly, you really want more than this? ( cheers and applause ) and lastly tonightly, i want to thank you all for this. ( cheers ) that's you guys. we're showing spandex solidarity. we're all stuffed in and ready to go. it's "the nightly show." let's do this everybody. ( cheers and captioning sponsored by comedy central