tv Lou Dobbs Tonight FOX Business June 5, 2013 7:00pm-8:01pm EDT
that is importunate "willis report." think you for joining us and don't forget to vbr be be on the show if you can't catch us live. we will see you tomorrow. lou: good evening and thank you for being with us. as we go through the days events and developments, it may help us to remember that we are all in this together. there is a lot to cover tonight. with the white house and this president engulfed in scandals, trust is on the road in eroding. but this president's toxic leadership style are much in evidence tonight. consider this, his approval rating dropped another point overnight.
it does remain a 47%. business confidence as measured by the jobs that business leaders create. given we are in the fifth year of an economic recovery. depending on whether you support this president or do not, his appointments of susan rice and samantha powell are either pulled or deft strokes by the president intent on not adding an outsider to his inner circle. while avoiding a confirmation process for the unpopular susan rice. likely to bring unrelenting pressure on mr. obama and his white house that is now managed to stonewall on benghazi, the internal revenues to service, and adding that today, a market that certainly has more than one reason to decline. but among those reasons, a widening despair.
both his administration's political and economic policy. fading hope the president obama can find a strong and positive voice and quality of leadership needed to restore prosperity. here is the president today. naming ambassador rice to the national security post in his administration. >> as our ambassador to the u.n., susan rice has been a tireless advocate. >> i am deeply grateful for your enduring confidence in me. we have much still to accomplish on behalf of the american people. i look forward to continuing to serve on your national security team, to keep our nation strong and safe. lou: there she is, the same susan rice that has spearheaded
falsely blaming the protests on anti-muslim video instead of blaming it on al qaeda. at best, susan rice provided misleading information. either way, president obama is saying the trust of the american people. it could not be clearer and it means that he is closing ranks, preparing for what might be a debilitating political and legal confrontation. the outcome of which may be a legacy as president. this is no longer the presidency of hope and change. this is a white house now dug in against its critics and foes. a new wall street journal poll shows that at least 55% of that each of these white house scandals raises doubts about the administration's honesty and its integrity. there is a high price to pay for
those doubts. for more on the president's controversial appointments today, we turn to chief white house correspondent ed henry with powerpoint. reporter: president obama second term charm offensive to the detour in the rose garden today. bipartisan outreach giving way to define this national security adviser resigned and was replaced with susan rice, confidant republicans have blocked them elevation to secretary of state over benghazi. >> this team of people has been extraordinarily dedicated. they have made america safer. reporter: she ducked important questions about the talking points. >> she was either complicit and i don't think that it is asking too much before she answer those
questions before she take up an important position as national security advisor. reporter: she was asked questions today. >> how did she get the information. >> i welcome the opportunity to correct the record. the central contested point that ambassador rice made on the sunday shows was drafted in the first instance and in every instance that after by the cia. reporter: republicans teed off on donnellan for never explaining his role in the white house is private reaction to the benghazi terrace attacks remap it is not just let susan rice on the tv shows last sunday. but the fact that donnellan was the key individual in the white house and probably, in my
opinion, the one most likely to have been the architect of changing what the cia started to what ended up being what susan rice did say. reporter: donovan was described as a tireless public servant and this change is vindicated for rice, who discussed her loyalty to the president. >> president. >> i am deeply grateful for your enduring confidence in me. reporter: president nominated another controversial figure. samantha power, to replace susan rice as the u.n. ambassador. she later apologized after calling hillary clinton a monster, and made a passionate plea for muscular american intervention. >> i have seen troopers built to protect the people of bosnia. as the most powerful and aspiring country on the earth, we have a critical role to play. reporter: she was an advocate on
libya and susan rice has said that the senate needs to act on her nomination as soon as possible. lou: thank you. ed henry, chief white house correspondent. president obama is not the only to find one in the midst of these scandals swirling about him. attorney general eric holder today missed a 5:00 p.m. deadline to personally explain questionable remarks he made before congress last month. when he testified, he was unaware of any potential prosecutions of journalist. house judiciary chairman congressman baca block received a low-level denial from the justice department this week. turning back to the appointments today, our first guest says that
ambassador susan wright is not confident but i'm confident that after her remarks on the sunday talk shows. joining us now is andrew mccarthy. they give are coming to the show >> thank you for having me on the show. she was about the business of pulling the wool over people's eyes. then she shouldn't be in a position of trust. if she honestly believed what she was saying under circumstances where as we now know, within minutes of the attack, the government in washington knew that this was a terrorist attack. certainly by the time she was on those programs, which has just
been a fraud through and through from the start, i don't see how she is competent to advise the president on matters like counter terrorism. lou: rather conveniently, it might be said, we will not have to testify in a confirmation process. in fact, the president's executive verbiage can be certified so that she doesn't have to testify at all to congress on the issue at benghaai. >> let's see if that is the case or we do have some history of the president's advisers being called to testify an important matter. the 9/11 commission, for example. it is whether the president is going to cooperate. that is the most transparent administration. to be cooperative with congress and getting to the bottom of it. lou: i think that is moved by this administration. >> it is good to remind him up,
click everyday. [laughter] lou: samantha power will be pasting the confirmation process, as you know. listen to her today about military intervention. this is a woman who has spoke about her opinions about the security council. security council. she has a strange voice review ambassador to the united nations. >> when you elect president obama, you get samantha power. i think that she would be implementing this policy. i think that is clear across the board. it is clear homeland security. lou: do you think it would pose her confirmation?
it is clear that her views and where those interventions could take place, i mean, it is really ironic given the as president last president obama and the republican party to rise above unilateralism. >> you know, i think that she would implement this policy. she is not the most objectionable nominee the fact is she's going to get through. look at who has gone through so far are you there have been many cases to stop number of nominees. i don't think this is the heel they are going on. lou: andrew, it is good to have you here. new developments concerning the embattled internal revenue service. putting two of its senior
staffers on administrative leave because he accepted free gives in violation of government ethics standards. the two employees tasked with enforcing obamacare. allegedly accepted more than a thousand dollars in free food during a lavish california conference in 2010. the move comes after an inspector general found the irs spent roughly $50 million in conferences over just three years. the irs scandal targeting conservative groups. playing politics and may be committing felonies. our guest joins us next. and a triple digit selloff on wall street. the dow jones below 50,000 for the first time in a month. is this a market correction? cantor fitzgerald's william nichols gives us his analysis. my mantra?
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lou: sharp losses on wall street today. a full-blown selloff. the dow jones industrials down 217 points..3 the biggest drop since april. the s&p lost 20 points, nasdaq down 44 points. on the big board, 3.6 and shares totaling almost $300 billion according to the wilshire 5000 index. general motors down. they announced that they will sell 30 million shares. a jobs report payroll processor
adp reported a disappointing 135 private sector jobs created last month. gold is up $1.30 finishing up $13.90 an ounce. crude oil is settling just under $94 per barrel. in the bond market, the yield on the ten-year following the 2.10%. our guest tonight says the artificially low rate put in place by the fed will generate more volatility in the markets. joining us now. it is good to have you here. this market today, it is your turn. >> if you look at the rally that we have had, without any meaningful pullback, april we were down just under 4%. a little mini ball off about
then. and in the last real correction was that a% move at the end of last year. seven or eight months of virtually a straight up market and i think it is due for a pullback. it is not necessarily due to this. lou: people are so spoiled. but this year we are looking at outrageous appreciation in these market. we are talking the market is going to be straight up. what is the market go from here? >> i think that you will see a little bit more volatility in the short term. in the short term, uncertainty out there.
we are definitely over by a week or two ago. now we are more neutral. we are not oversold. a little bit more volatility. but i think that corporate america is well-positioned and we will find our footing. the next month or two could be a little bit choppy. lou: for those in the market, those aching about getting in the market. we think? >> i think it depends on the sector. some of the interest rates and a little bit of rallying today. maybe not do it all in one day,
but the people were kind of waiting for that pullback. so you have to start thinking about your favorite names and nibbling little bit. lou: okay, we talked about a correction. where dozen investors start to get comfortable with this correction? >> are such sentiment with the market. down 45%. people are cautious. certainly in a short period of time. the best action would probably be to buy at that level, but many are reluctant to pull the trigger. there is a seminal component to this as well. a lot of music head at any moment in time. a lot of this has largely been ignored and the market and kind of does what it wants to do a. lou: a lot of money.
thank you for joining us. bill nichols. meredith whitney joins us to talk about the new geography of prosperity in her new book, state of the states. and chris kyle was writing at the time of his tragic death. we will be joined by american soil. collaborator on the hook american gun. and how guns have shaped american history. up next, these people didn't know anything about the irs targeting conservative groups. our next guest doesn't believe that. we will hear from him in a lawsuit against the internal revenue service. he's our guest coming up next
10-year-old to be moved to the adult transplant list. battling cystic fibrosis, murdoch's, she could die within a matter of weeks. federal policy prevents children and rental from receiving donated adult long as. her hands in this were effectively tied. but the parents asked for a rules change. she said they would not intervene. they file a lawsuit. as a result, the judge has ruled that she will be permitted. this is not guaranteed, but it does guarantee to the optimistic outlook of her parents that she will have a very good chance of receiving a lung transplant. my next guest is representing 25 conservative organizations that are suing the internal revenue service, claiming that
constitutional rights were violated. joining us now, chief counsel for the american center for law and justice. good to have you here. >> thank you for having me. lou: this is a monumental, if i may say, a monumental legal action to go after the internal revenue service. you are going after many irs officials. how did you determine and what do you expect to be the outcome? >> those individuals, based on the information that we have based on the process of elimination. we knew who we were dealing with. steve miller said he had no idea and could not remember anybody's name. nobody could remember anybody's name. i had the supervisor's name. letters. this was not complicated for us. so we named it a complaint. those that we knew either
knowledge of or actual engagement and the unlawful acts of the irs. we listed, as you mentioned, ten -- it could be more -- i know because until we do discovery we will not know how deep this actually went in hacked -- how high up went. i will also tell you we will be amending that complaint in the next week or ten days probably adding another 25 organizations and some additional counts in the complaint areas that we have since learned that we are concerned about, including disclosure issues and and other constitutional challenge. it is a monumental undertaking, but the irs -- what are they going to say in their response? your lovely target. normally they would say denied. how they deny it? we dads the statements were they admitted it. that will make the cases. that will be one i am waiting to see. lou: the response in particular,
not only an acknowledgement of the admission of guilt, but an apology which compounds the evidence on your behalf. >> it does. the fact she made the admission and that we get the inspector general to the point where they knowledge and uncovered the targeting which is, by the way, if they keep calling it targeting as if that is not good targeting is actually a violation of the constitution. you cannot target someone based on their viewpoint. i have done multiple cases of the supreme court on that issue. right now -- i said this the other day when i was on your broadcast. i think the irs is institutionally incapable of self correcting. i know if you picked up or your people picked up today that this afternoon the irs placed on administrative leave to more officials, one in charge of the obamacare affordable care act enforcement. the agency right now is in complete meltdown in my view. what needs to happen, scrabble internal revenue code and start
all over again. short of that, what we need to see is justice and justice for our clients is that these unconstitutional acts stop. lou: you talk about changes, damages to cleanse the have to be satisfied here by an agency of the federal government. under our constitution is supposed to be serving the american people, not targeting and. is clear there were doing precisely at through their own admission. but what damages will you likely succeed or do you want to sscceed in recovering from the internal revenue service for your client? >> there are three things we're asking for. and clients, and i'm sure that will increase. pending for three years and no exemption. number two, number of these groups before we get involved incurred substantial legal and accounting fees just try to comply with these ridiculous questionnaires that were coming forward. so they needed reimbursement of their accounting and attorneys' fees. and we have clients that actually lost grants. we talked about this. this particular group that was
picked up in this dragnet. there were a conservative organization teaching constitutional conservatism command were picked up in this dragnet and ended up losing a grant of $30,000. there are real damage is here. and, of course, getting the government to stop. despite the protest, despite the statements to the contrary, the reality is on may 6 the 2013 we received another letter from one of our clients with more ridiculous questions. the process has not stopped, and it will take multiple funds to get that cause of action to get the government to correct itself, which without a court order they're just not capable of doing. lou: thank you for being with us. follow the right organization to move toward some satisfaction, some justice against the internal revenue service and the federal government. we will have much more on the internal revenue service scandal. it will take up the "a-team" next. stay with us. the breadwinner mom debate.
an expert who studies the subject says the feminist cheerleaders are not looking at reality. to the manhattan institute joins us next. the white house is engulfed in scandal, and the president so far insulated. where is the smoking gun or guns? houseman before the trail leads to the oval office. best-selling author and syndicated columnist and coulter with her bed next.
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♪ lou: the first tropical storm of this year's hurricane season for mitt right now in the gulf of mexico. just about an hour ago. tropical storm andrea as it is now named. about 300 miles southwest of tampa. and -- not expected to strengthen to hurricane, set to make land fall over northwest florida like to mark. meanwhile, officials in oklahoma
are reporting the death toll from last week's deadly tornadoes as now reaching 20 people. those storms generated and ef5 tornado that is officially the widest ever recorded, almost 300 miles-per-hour winds and at its peak to a half miles wide. returning to the scandals that engulfed the obama administration, my next guest says the appointment is a slap in the face and she believes it was done to distract from the various scandals that are boiling around president obama. joining us now, best-selling author, syndicated conservative columnist, ann coulter. great to have you with us. you think there was politics and the appointment? >> yes. it reminds me of the clinton era , distract from one scandal by starting a new one. what are republicans supposed to do? all over the tv and lying about
the video being because of that attack on our ambassador and the deaths of four americans in benghazi. over and over again she was promoting what we now know to be an absolute lie. of course republicans are going to complain about this. it is like dangling a sardine in front of a cat. so just now you and i have already wasted 60 seconds on this, rather than amnesty, rather than the ira scandal, rather than -- lou: let's turn to, first, the internal revenue service. that scandal. and the prosecution, you just heard. he is going after the irs. his clients to have been the victims of egregious abuse of power. when they look at all of these scandals that are boiling around the president, i think the republicans have to get some considerable credit. they have -- and their leaders. they have maintained focus here
and constraint, and i think they're doing very well to this point. you? >> i absolutely agree. it is funny. if you watch the obama network, they keep complaining that republicans say that obama is behind this irs scandal. name a republican who said that. they say they want to find out and we need to investigate that. there are some facts that we do know, and they're pretty devastating. beyond the line dancing -- i mean, the hearing yesterday i think was very powerful for the donor list. being the least directly to the political opponents with the irs internal stamp on it, that then gets published. the pro marriage group, their donors get harassed. you have a pro-life group. all of its members have to pledge under penalty of perjury that they will not play outside
of planned parenthood facility. it is really outrageous harassment. lou: and the averages continue, including the fact that the attorney general refused to meet with the chairman of the house judiciary committee who demanded answers on the holder scandals, pearl. and now, you know, he and his committee will decide whether this attorney general committed perjury. as i listen to the statement and i cannot even imagine how you could doubt in any fuzzy way that he contradicted and contravened himself. >> it seems like -- and i don't have a strong opinion on that. my main point with the holder and the tapping of journalist's phone lines, both the ap and fox news james risen is that the national security justification
is a fraud. that seems to be the linchpin of the whole story. i mean, if james rose nor any other journalist were trying to pressure a member of the state department to release sensitive national security information, fine. have had it. listen to their phone. dry winters are the ones who do care. lou: more fundamental. polder, the judge she signed off on that subpoena the fbi agent to attested to probable cause. i think that they could face significant consequences because they were -- it was preposterous what they said and accepted as fact. we have about 15 seconds here. another you have been very concerned about the gang of eight and what you call the amnesty that is being proposed. do you think will pass? >> right now is on a freight train to pass. all of these statements and the media, this is to fool the
american people, keep them docile and alarmed. the way amnesty was stopped last time was what americans call the complaint. that is not happening this time because talk-radio hosts and all of the media, don't worry. it would pass anyway. right now it is going to pass. lou: always good to havewith us. >> thank you. lou: take a minute. join us at loudobbs.com. find links to our facebook page. e-mail me. follow my tweets. up next, breadwinner moms, the headline suggests a winner for america's feminists, but a deeper look into the numbers show there is no real big reason to cheer for literally millions of american mom's. the manhattan institute weighs in on the real struggle facing single moms next. ♪ tossing and turning have given way to sleeping. where sleepless nights yield to restful sleep, and lunesta eszopiclone can help you get there,
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mom's generating a lot of controversy in the national media. my next guest says contrary to many of the feminist victories that some say, it is a reminder that the feminist revolution has winners and losers. joining us now, senior fellow at the manhattan institute. great to have you with us. i understand the reaction of the part of some in the national media and politics because it is good news. 40 percent of women. you say it that way. there are now the breadwinner in the family. he looked at the numbers and find 63 percent are making on average $23,000 per year. there is no man in the household, and there are struggling with their children in their lives. >> right. yes. the report was read as a gender equality story. i really think it is a single mother story, something that we really need to look at very carefully. there has been a breakdown of marriage along lower-income, less educated women.
that is what we are seeing. it is about 60%, 40 percent of breadwinner mothers are actually single mothers. most of them, as you say, writing very little money. lou: we have got to understand the consequences of the public policies we are pursuing that are putting these -- it is hard to say. part of the matrix for the single moms who are living a very tough lives as a result. we have to understand the consequences and what we need to do to alter the atmosphere. >> one of the big questions is, what exactly to do. it is not at all clear, but one of the first thing that has to happen before we can even have the discussion is to come to some kind of consensus as to whether this really is a problem. or is me when we see the reaction is that people don't want to talk about it. it would rather talk about the married moms, not the single moms. lou: it is really an issue of
the divide it is in this country amongst those who are educattd and those who are not. the children who are at risk as a result of those to a far lesser degree you're not. and there is an orthodoxy among the national media, primarily liberal media that says to shut this thing down, don't even discuss it. you're attacking feminism, attacking equal rights. there are not equal outcomes here. >> that's right. zero other people think this is just tolerance. in this case, fewer opportunities for the children, we note from mountains of evidence now that children who grow up with single mothers are not going to do as well. lou: i would like to keep the conversation going, and we would love to have you back as soon as possible. >> absolutely. lou: thank you so much. we appreciate it. the manhattan institute. up next, a retired commander of
the pacific fleet's among james lyons in the so-called pivot to age, mental health professionals will also be on our guests. up next and i controversial choice for the president. the "a-team" reacts with a selection of susan rice, national security adviser, fox news contributors. here next. ♪ >> you want to invest in something really different? try this, invest in the weather. you can. invest in your neighbor's storage facility, invest in a life-insurance policy before you die.[ le a 9:20 a.m. e, you will lose 3 sets of keys 4 cell phones 7 socks and 6 weeks of sleep but one thing you don't want to lose is any more teeth. if you wear a partial, you are almost twice as likely to lose your supporting teeth. new poligrip and polident for partia 'seal and protect' helps minimize stress, which may damage supporting teeth, by s stabilizing your partia. and 'clean d protect'
♪ lou: joining me now, the "a-team." let me turn to you. looks as though the republicans are as organized as i certainly have ever seen them, both on capitol hill, as a party, as they go in search of truth in these hearings. what are your thoughts? >> i think they're doing a great job because certainly, lou, there has been an admission by the irs that they have done wrong. now the mission of the republicans is to get to the truth. democrats are being states people, rising to the occasion and understanding that something went terribly wrong. i was a target of the irs investigation when i ran freedom watch. they came after me personally for two years, our donors. -hey did not get a nickel from me or my daughters. we thought we were target politically. we could not prove it. but now putting it to enter together it is clear that the ira cease to be reformed. republicans are planning exactly correct.
it to the truth with real people. the contrast between the witnesses to our taxes the irs has been night and day with the american people. lou: what is next? i mean, he has apparently insinuated the political arm of the white house throughout government year. the entire government. we are looking at so many departments, so many agencies. is it remedial? >> well, not in the short term. in not with this president. this is the government that he wants. he is not really unhappy about these things. he gives lip service to the idea that he is outraged and then he goes silent. if you're really of rage tour of the leading the fight, and leading from behind or just watching. when you look at even the irs, their conferences, the amount of spending that was going on during the recession of all times, i mean, that just shows the arrogance of government. and yet there is no fun during
outrage from the president, from capitol hill. i agree that the hearings are doing fine, but it seems to be a much larger problem about how government has disconnected itself. the irs treats the average taxpayer. and they cannot even account for all the money that they spend in the conference's. lou: your reaction? they say, well, maybe we should get rid of the irs, but we will reform the tax cut instead of deal with the cats, rooting out the corruption and the excess and the egregious abuses of power of the irs. clearly did a letter first. >> absolutely. the american people have spoken. we understand through the nbc, "wall street journal" poll that the vast majority of americans believe something is terribly wrong, not only at the irs, but the way this administration is handled it. what the republicans should do is speak to tax reform, but also
be looking to turn the irs inside out and make them accountable to the people. they are one agency, the president would like us to believe it is independent. it seems to be a symbiotic relationship. these reforms. lou: let's be clear. the president's assertion that the internal revenue service's independent is pure bull. and the idea that people need to notice something. a string of acting commissioners of internal revenue service. there is a reason this administration did not want someone in that job of sufficient standing in quality of character and capacity of talent as we have had throughout most of the internal revenue service is history. these people were being played. i mean, they come across as useful fools for political purpose. is that too harsh? >> look. if you want to control somebody, the bureaucracy, there is no better way than to give them the job on an acting basis because then you have got him jumping through hoops every day.
they say, use a job, they say how high because they want the job presumably. but i think his point is a good one about the president. one of the things about the polls that struck me is, most people do not blame the president personally. some aspect of this argument that the irs is independent, that he did not really defend -- they investigated it. the ap, the fox news report, that is just the justice department. some of the president has never been held responsible. that is his line. lou: i really don't believe it is somehow. i believe there is a reason for it, and it is right in front of us. is the way in which the media supports this presidency, supports the man who is in the office and who will not burke the intrusion of facts or accountability for whenever he says that turns up to be false or whatever he does that seems that is outside the law, whether
it is of enforcing law or whether he is enforcing something other than the law. >> we see both the cases. the justice department will come and get your phone records. lou: we keep wanting to believe in can be rock mountains in america. i don't believe that this is an accident that he is insinuating the political arm of his white house and to the internal revenue service, the treasury department. all of the departments in this government. i think we are looking at a rancid and corrupt administration. i don't know how sinister or complete the corruption is, but we sure need to find out, don't you think? >> there is no question about it. the president meant what he said when he said, wedding has consequences. the consequences are that they will do whatever they need to do that they feel is in their best interest. screw the american people. the american people are starting
and with responsive, dedicated support, we help you shine every day of the week. what if i told you what it has to do with more or less being kicked off? we have lost our faith in government. now, the last guy that we thought would have arbat might be leaving us in the lurch the era of liking the government is over. not quite, but the latest wall street journal poll has me wondering. and the president to congress, most folks seem to be having enough of this growing in to show anger. including the media, which takes a beating in the survey as well. clearly this is