tv Lou Dobbs Tonight FOX Business August 20, 2012 7:00pm-8:00pm EDT
indeed, it's about time. that's my "2 cents more." deming a tomorrow, as we barreled toward the fiscal cliff will be joined by one of the top number-cruncher's out there. that's it for tonight "lou dobbs tonight." thank you for joining as. have a great evening. as the right becker tomorrow night. ♪ lou: good evening. president obama miss the white house press corps a little more than, perhaps, we all realized. also in the rising criticism from the romney campaign and even the national media for backing the white house press corps in favor of local news and in to tell reporters. the press corps, given and a budget today to ask the president's direct questions for the first time in months. also tonight the romney ticketing days in a serious debate on medicare. the president so far seems to be succeeding in avoiding his
record. is the country ready for serious discussion of serious issues? former deputy chief of staff to president bush karl rove the answers. also ahead, leading economists say that ben bernanke will deliver a third round of quantitative easing. billionaire investor and bed -- businessmen on the impact of the presidential race and are struggling economy. swing state voters are no happier than they were four years ago. do they really want four more years of this president, economy. the best-selling author karen klein joins us. first, president obama dropping in on press secretary jay carney said daily briefings uprisings reporters so not been able to ask that president questions says early june, and years of the first question and all that time from the white house press corps went today. >> let me start off with gen. >> thank you, mr. president.
thank you for being here. you are no doubt aware of the comments made on abortion. wondered if you think those views represent the views of the republican party and general. >> these particular comments have led governor romney and other republicans to distance themselves. lou: meanwhile the president's bidding the rest of his time at the podium trying to rationalize a reelection campaign that has taken a decidedly negative town >> i feel very comfortable with the fact that when you look at the campaign we're running we're focused on the issues and the differences that mattered to working families all across america, and that is exactly the kind of debate of the american people deserve. lou: but the debate initiated by the president's campaign team has centered on governor romney's taxes, accusations of
felonies, an act that is attaching responsibility for a woman's death to get around these days at bain capital, and the president's impromptu appearance full of questions today. oh, yes. and answers as well. therefore the impromptu appearance and has our report. >> state tells me you guys have been missing me. >> for the first time in eight weeks president obama base to the white house press corps and insisted he is not running a negative campaign. >> we don't go out of bounds. >> sharply denying his team ever called mitt romney a felon or suggest to the republican is hiding something improper in his tax return. >> every accused mr. rodney of being a felon. there is a difference within plan by the same set of rules and doing something illegal. in no way have we suggested the lesser. >> in fact, the president's deputy campaign manager suggested weeks ago, romney may have committed a felony over his exit from bain capital.
>> either mitt romney, through his own work and own signature, was misrepresenting his position to be -- to the sec which is a felony, or he was misrepresenting his position to the american people. >> as late as yesterday mitt romney is a highly educated man and has clearly made its decision that what is in those tax returns is far more damaging to him then to do what every presidential candidate has done, which is show the american people your personal finance. >> as for the so-called cancer at suggesting romney had something to do with the death of a laid-off steelworkers life. >> i don't think mitt romney understands what he has done to people's lives. >> three weeks after its effort the president began the first person in his orbit to say. >> i don't think that governor romney is somehow responsible for the death of the woman that was portrayed in an ad. but keep in mind, this is an ad that i did not approve, i did
not produce, and as far as i can sell, has barely run. >> although it has been all over new shows and has been heavy traffic on line. the president would not denounce the attic, instead hammering romney for all welfare effort earlier this month that has gone three pinocchio's from washington post which they can run the campaign that they once, but the tooth of the matter is, you can't just make stuff up that is one thing that u.s. president of the united states. >> earlier in the day they claim the president is the one not telling the truth about his record. >> this is the first president to have served with, and i have never seen such a bitter partisan rhetoric like the kind that we have today. >> meanwhile, a new e-but by political cleanse the president has a personal hatred for romney, though aides say differences are just over policy. >> i can tell you, i never heard the president expressed anything like that. >> the book also alleges
infighting among top advisers, though the obama campaign in jakarta fired back, this is a patchwork of hearsay, distortion , and under a faucet. if it were actually imprinted with belong in the fiction section. the book also claims that dnc chairman has seen her stock plummet inside the white house and that the obama camp because they believe she comes across as too partisan. when asked jay carney about this either a vote of confidence. lou: thank you very much. ed henry reporting from the white house. our next guest says democrats have long had an edge and the issue of medicare, and republicans, in fact, coward in fear. it's different this year. joining us now is karl rove, former deputy chief of staff a less senior adviser to president george w. bush, fox news contributor. great to have you with us. this is quite -- i'm going to turn to this press conference first. a drop in, pop and, impromptu press conference. is this the president technology
the reality that he was getting hammered on the back -- his he famously said, skinny but tough, but not tough enough to take on the questions. >> yes. this was a check the box. criticized for not showing up. also up, take questions, spend some estimates, blow out of there and know that the deep of the white house press corps seems to be suffering from a stockholm syndrome. the first question out of the boxes, was elected to announce the republican candidate for being an extremist? and also, rear-ended to use that to tarnish? how is that for an opening question, mr. president? how many months did he fail to answer the questions? and, you know, the cbs reporter was, i have to admit, tough, but nobody followed up. the president said, we have never called mitt romney a felon despite the fact that it was heavily stephanie kutcher, as was noted among but bob bauer, former white house counsel and counsel to the obama reelection
campaign also repeated charges less than five weeks ago. so has the president got a short memory or is he just simply think that if he says it we will believe it? lou: and have to say, the preamble to the first question was also, i thought, -- i enjoyed tremendously. thank you for being here. turning to this race, we are looking, again, at two points in whenever poll you look at. this thing is as tight as it can be. are we seeing a significant shift in momentum, much ballyhoo over paul ryan who seems to have brought energy to the campaign. is there an impact? and is there, if you will, a clear path to the white house for governor on the? >> that is my view. first of all, as republicans have engaged on this issue of medicare early rather than late, normally what happens is in the closing moments of the campaign the democrats send mailers to
seniors in a late-night phone calls to scare them over medicare, and now we're having an honest debate about it. the american people understand programs are going bankrupt. we need to do something to save them. the republicans are laying out a concrete plan engaging. an element that the democrats can use at the end, but this has been going on for a while other republicans have been gaining a better pass in a tough election to victory in the democrats. president obama's problems are that people don't believe that what he has done, you know, is helping the economy. a recent poll said 46 percent said his policies will never approve the economy. that is pretty harsh when nearly one other every to say that he will never improve the economy. two-thirds say his policies have today either not helped or have actually hurt the economy. that is pretty tough if you're the incumbent to be dealing with those kind of numbers. whereas romney's problems are basically people don't know as much about him as then up the president's.
lou: you are this age. i would love to hear your explanation. his approval numbers, his head to head numbers year whatever romney don't seem to but said much despite to match what as you say, are calamitous numbers and the other context. >> well, remember two things. first of all, at this time the middle of august of 1980 jimmy carter was ahead of ronald reagan. second of all, remember the process. people basically have chosen this side are willing to choose a side. everyone else is floating out there. eight, ten, 12, 40 percent of the vote is either undecided or upper grabs. a weekly link. what they're doing is observing information and at some time, the need to make a decision and are ready. maybe after the conventions, maybe during the debate, but at some point they're going to make a decision and fall into the camp. you know, there is one of the number that came out today that is really astonishing, and it is
a sign of the momentum that you referred to earlier. the republicans announced last week that they had $186 million cash on hand at the end of july. the democrats waited until today, the legal deadline, to announce they have $124 million cash on hand it to the dnc and obama which means the republicans have as $62 million cash on hand advantage. remember this. at the end of april the democrats were up by 95 million. end of may, up by 61 commanded the indigent, a budget a million. obama won in 2008 in large measure because he spent far more money than john mccain did. they hope to take debt spending advantage in terms of their advantage in the fall this time around. , but there has been too much and raced to the vote despite 205 presidential fund-raisers. after the end of july they fell decisively behind ryan -- the romney ran ticket in raising money. lou: thank you very much.
those are fascinating numbers indeed. we appreciated as always. thank you. thirty republican house members on a fact-finding trip to israel meeting with a key ally. so why did lawmakers in the partying in the holy land. in one instance skinny dipping in the sea of galilee. how about a republican congressman who decides to a single handedly trash his own campaign for the senate. wall street holding steady after a summer surge is a bigger move to the upside ahead? billionaire businessman wilbur ross joins us next. ♪ so... [ gasps ]
♪ lou: we will be talking with investor businessman, a business leader when wilbur ross here in just a moment. let's turn to wall street. a funnel into what is happening on the street. stocks easing of of worst levels to finish flat on the day. the dow jones industrials slipping four points, s&p, nasdaq down less than one point on the date. adelle has closed lower, by then way, 11 of the past 12 mondays. make of that what you want, but 11 of the past 12 mondays. apple's shares today, did not know it was a monday. it fell more than two and a half percent. the tech giant, the most a valuable company of all time, closing with a market cap of
$623 billion, surpassing microsoft's record. the stock up nearly 6% announcing it will buy health care paying over $5 billion. surging 20% on the deal. gasoline prices tonight rising to an august record of $3.702 per gallon because of the domestic supply shortage in part because of refineries in the midwest that have been slowed. analysts predict the average could reach just about $3.705 by labor day. ratings agency moody's sector of reset that debt ratings. already declared bankruptcy this year. moody's is now morning more bankruptcy filings are expected. welcome our next guest says chairman ben bernanke will likely launched qe3, quantitative easing third round before the presidential election , but he says it may not
be effective. joining us now is legendary investor from wilbur ross, chairman and ceo of w. l. ross and company, one of the world's leading private equity farms. let's start with qe3. i love this discussion, and it seems to hold the markets in thrall to. qe3. you really believe that bernanke will do it? >> i think their is a good chance of it because inflation seems a very much under control. the economy clearly is not doing that well. his mandates are not holding inflation down like most of the economy. lou: and the effect will be just extraordinary, momentum, the economy will see a surge of growth. markets will scream out hallelujah. >> well, half of that is true. the markets may scream out hallelujah. i do not think the effect of the economy will be much if anything at all. the banks already have one chilean 700 billion of xx tech
to cut excess cash. they're not lending that out. but within that the next trillion. >> that is a very important point. why -- what is required to get these banks moving money again? what would you recommend to bernanke, treasury secretary gate near? >> well, i think there are several things. first of all, this is our financial protection groups of layoff instead of imposing more and more complicated rules. it's crazy to tell that the bank to lend money. it's not exactly conducive. second, i think we need to redefine the solution to the housing problem. and they are designing housing problem as being, howdy you keep people in residences in which they basically cannot afford. the real problem is, how do you get a clearing mechanism if things stabilize and get back to
normal? lou: i'm getting the impression from a number of folks to know what they're talking about that we have seen a bottom in housing and a starting to see the formation of some advance in the housing market in this country. what's your read? >> well, it's very spotty. allocation by location. miami, for example, has turned around 20 percent of the condominium's sold last year, sold to brazilians, mostly cash. lou: 0%. >> 20% of the home market. miami is becoming the america. and that is what it really takes to fix the housing slump is in down the migration. lou: inbound migration, especially of capital. >> yes. lou: and aside from the fact that we are starting to attract direct investment, whether it is chinese oil companies are
whether it is brazilian money in miami, the fact is, we have got to start building, and we have got to start exporting, and we have just about had it, have we not, with this when it comes to trade. we need to export. >> absolutely. one of the few things that would be good is to death in to q e. three because it will undoubtedly not our currency down to and have some marginal help for export. >> job creation. reelecting at a race now that is less than three months away. is it your sense that anything could be done to turn around this jobless recovery in the next 12 months irrespective of who is elected president? >> may be over 12 months, but certainly not between now and the election. there is just not enough time for anything to work. lou: that left everything to work, and yet this is a question of leaders in this economy. confidence that is starting debt
it shows some sign of resurgence, consumer, investor. what is it going to take to see that price? i am really just tired of one-and-a-half percent growth. tired of hearing people talk about normal, talk about not having, well, frankly, the passion to go make something happen whether there are business leaders, political leaders. what you're going to take. >> well, the government has been substituting -- instituting borrowing for balanced income. people have been substituting borrowing for their income, living apart money. that is a very fundamental problems for the economy. >> households are starting to shape up, firm up their balance sheets as well. >> they are. a t of that is due to mortgage forgiveness and foreclosure. it is not exactly the best way to fix. lou: jobs would be a heck of a lot better. >> the new problem with the terms i believe is that we have a lot of structural unemployment
. the high-school are not turning out people who can work in factories. you have to have driven to meet mask or rudimentary science. factories are not a place for physical labor. it is computer-controlled machines. numerically controlled machines. if you're just not turning out people who can do it. lou: this is the time at which you would think that we would be hearing from this president and from the challengers with greater detail the vision of what life in america should be over the next 5-10 years. hopefully that is next. it is always good to talk with you. come back soon. >> thank you. lou: aging action heroes take over the weekend box office. the expense levels to. debuting a number one. the lions a sequel beat out
universal's movie and the family friendly animated comedy para norman. sorry, norman to running up the top three. 14 million. up next, paul ryan with a plan to save social security for the next generation. so does governor romney. the president's own fiscal commission has the same conclusion. what is going on here? will take a look retirement in america, looking at the important numbers that nobody is talking about. we will in tonight's "chalk talk." later, what can we expect from this president if he does when another term? the author of a fool me twice -- well, i may have given away the answer to that. he joins us here next. stay with us. ♪
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generous of terms, almost two decades worth now 36 million rbc being social security. it is supposed to pay out $778 million in benefits and now the trustees warned the fund could be exhausted by a 2033. 39% are not saving for retirement. at all. the percentage of workers from the traditional pension plan over the past 25 years years, 62% have the
attention. -- a pension that compares to how many now? fifteen%. a defined benefits program. they have been replaced by 401(k) but by comparison public employee unions have done well. think of how many enjoy a pension plans? the answer is 90%. meaning they will receiving guaranteed income until death. it is pretty clear we're not
about to the 99% it is a 50/50 society. that is then that covered article of "newsweek." i say the odds are 50/50. the country will have a serious debate to a bloated pension and retirement age that nobody is talking about in the government's role of retirement which is a responsibility for the federal government with the passage of social security in 1935. it looked like the best odds this country had in terms of
fixing problems in a long time. >> the obama's administrations picks losers. solyndra and alpha oscar automotive losing millions of taxpayer dollars. >> you have been missing me? [laughter] i thought i would say hello. the president decides to end the avoidance of their press corps. change ahead at agusta national and a feminist who led the demonstrations 10 years ago.
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lou: "usa today-gallup poll" shows the swing state voters say they are not better off than four years ago but they remain evenly split to. my next guest says obama's second term policies would be a nightmare. iran klein and his new book fool me twice. on "the new york times" best seller list debut this weekend. number nine on amazon. i was thinking of view brisker automotive having a recall all the money invested by the obama administration and green energy.
there is a commitment respective of the administration? >> and the corruption from obama's first stimulus. i have done investigations that show topple obama administration officials to companies that got hundreds of millions of dollars and every day we hear of another company hitting bankruptcy. yet obama's second term green stimulus with taxpayer money. lou: "the new york times", new york magazine magazine, what an extraordinary campaign document. he laid obama bear.
it was extraordinary with the analysis. we see the liberal media respond. what is going on? >> the media is coming around zero or it is hillary clinton klan same story is because there was talk. lou: you stick together. >> apparently hillary believes obama's leftist politics would damage her to implement these plans. that is interesting that the obama's strategy hillary believes this though far beyond what the electorate
once she is afraid what the nation will look like in four more years. lou: if you read what is happening in the capital and the white house, the dissension reported by "politico", axelrod vs. cover. is it for real and significant? >> with all of my research what i find what we have we have the progressive the establishment perfecting for decades the progressive camp is united and continues full
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is the plastic bag fresh wrapped romaine lettuce. so far no illness reported in connects -- connection with the recall. fiscal automotive recalling 2400 sports sedan models. it comes after a hybrid crossfire this is not the first time it had a recall. it has received 200 million out of happen million on loan from the department of energy. the union boss makes 14 marks over the weekend if former president for the amalgamated transit union said the goal of the occupied movement is to
overthrow capitalism. >> progressive labor is a communist organization the objective to overthrow capitalism. eight organization has to be built to bring down capitalism of. lou: he used to lead the union that was the third largest in america. the day trait water and sewage department employees a horseshoer even though they don't own a horse. the union says it is not possible to eliminate positions because they're already short staffed. but an independent report said the water department
needed to cut 80 percent of the workforce but not the horseshoer. former secretary of state condoleeza rice and south carolina businesswoman the first women to support the jacket when the masters tournament reopens in october. they did the move in their own time. 10 years after the chairmen said the issue was of private club matter. telling women organizations they would have no influence on the decision. they were right to. swing state voters say they're not better off than 2008. is this a problem?
giving a softball interview then you start to wonder he could not even come up with his favorite mexican dish. green chili's are in everything. but seriously speaking there are so many issues. the world situation has not improved. he is too glib for my taste. lou: the old stumbling bumbling obama's? [laughter] either be is a angry or he is not to. [laughter] i offered stumbling and bumbling. [laughter] the master of criticizing.
[laughter] >> trying to make a joke. >> she is right. he will go crazy but there are so many serious issues and not asked today. >> you did not like thank you for being here? >> come on. everything that goes on in the world. >> what i wanted to hear is what he would do it afghanistan with a growing crisis with japan to put forth of program we did not get that today. i am sure the romney campaign in the wait to see
their plan because he had a stellar foreign policy record the. >> he sold that both to you. a sterling record. >> i cannot find osama bin laden. >> why are to you talking about congressman yoder? >> i read that to this morning. it is silly. i don't care that he got to make it. i would go swimming but why did he get so mad? i cannot be on point* with
everything. [laughter] is president lack of policy tour and jumping in the sea of galilee. he cheats israel like a fly over. lou: one question on syria with the chemical weapons with the president are you surprised that is of trigger point*? >> a humanitarian crisis, tens of thousands killed we don't know the legitimate government but the president is worried of chemical weapons? and what is the strategy and what do we have a plan to put forth? >> governor romney and paul
buy and doing a good job about medicare and entitlements but they are not attacking this record with any great enthusiasm. >> even more and get to know us. of lot of swaps are on their way. and then they will go after the democratic convention. >> you want to define your uploaded to and you try to link him so hard then he goes out of his way.
the next few months is a choice for the vision for the future. lou: you have to acknowledge is there any doubt seriously paul fayed has not brought great energy galvanizing the republican party. even obama has to give credit begrudgingly. >> he helped to certify his credibility. people don't vote for the vice president. >> they vote for optimism for about obama's has the boulder on his shoulder.
lou: day q4 being with us. the "a team" one fewer upset with
one congress man from missouri. tomorrow the president and vice president on the campaign trail and ed klein joins us. we are coming right back. since 1863 we've helped guide our clients, so they can take the steps to help grow, preserve, and pass along their wealth. so their footsteps can help the next generation find their own path. all of us serving you.