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tv   After the Bell  FOX Business  October 15, 2015 4:00pm-5:01pm EDT

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thank you so much. i want to send it back to the new york. "countdown to the closing bell" is done. david, melissa, take it from here. david: you will stay close. melissa: liz, we will have your exclusive interview with treasury secretary jack lew coming up. david: the president backpedaling on his plans to withdraw troops in afghanistan. did he cry uncle with a wrestling match in the pentagon? [closing bell rings] dow closing up well over 1%, 218 as it settles. here is what is happening with all the various stocks today. melissa: here is where we end the day on major indices. look at nasdaq, up 1.8%. david: wow. melissa: almost 2% on the day. crude oil bouncing back. gold higher as well. david: while markets wait for tomorrow, here is everything you need to know right now. joining me with a big exclusive interview with treasury secretary jack lew our own liz claman. liz?
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liz: i had my glasses on checking very latest news. everything is changing moment by moment but a bit of a bombshell dropped this morn being when jack lew, the treasury secretary sent this letter to congress. in it he says we need to push up the calendar. he had said october 1st, november 5th was the day we would hit the debt ceiling that is the point where we can no longer service the debt and that has changed. it is pushed up by two days because tax revenues came in much thinner than expected and it has become extremely disconcerting for treasury department but what does it mean for you? why now is it different? david, melissa, there is complete questionable behavior who will be next speaker of the house on the gop side. that's who he of course negotiates with. i began by asking him how serious is this going to be, especially when we have unsure political circumstances in d.c. listen? >> we had a pretty consistent message around the world to
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other countries not to devalue their currencies, not to get into competitive devaluation that is both unfair and dangerous to the global economy. i think it's a sign of progress we've cotten all major international bodies to agree that those are principles we all agree to but i have to tell you engage, when i see any signs a country is doing something to lower value of its currency to gain unfair advantage i engage immediately and push back, we have a great deal of success when we engage. liz: that is no, no intervention on u.s. dollar? >> we have to maintain a strong u.s. economy and needs to be a stronger global u.s. economy. liz: he didn't say we have to maintain a strong dollar, we have to maintain a strong economy. we know the u.s. dollar is markedly affecting negatively saying that strong dollar hurts our exports. makes it more expensive for foreigners to buy our products.
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david and melissa, what does that mean? could they start flooding market with u.s. dollars? that is called intervening. he was very clear when he said he doesn't like other countries devalue their currency. you just don't know at this point. there is teeny bit of wiggle room. david: you pushed him down. he had a chance to talk down the dollar and he didn't do it. more of liz's exclusive interview later this hour. you will not want to miss it. melissa. melissa: art laffer, former reagan economic advisor. thanks for joining us. give reaction what you heard? >> i think stronger dollar better the country so i'm very much for a strong dollar. i thought he was correct what he said. we've got to make sure country es deliberately devaluing their currencies or hoarding huge amount of reserves, not allowing market forces to operate, that is a form of protectionism. shouldn't be allowed at least be allowed in the context of the
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secretary talking to them. i thought what he said was perfectly correct. melissa: what do you think of the idea of the debt ceiling and the fact we keep going through this fire alarm, we have to raise the debt ceiling at the same time you understand the other side of the aisle when republicans are talking about the fact that we can't keep marching on to this larger and larger debt without some sort of a discussion? this seems to be only time anyone is paying attention when we run up against the debt ceiling. >> but where the budget should be inhaled or should be controlled is through spending legislation. that is where we should really stop this problem. i don't see the debt ceiling really matters much in the form of the overall u.s. economy but it matters a lot politically and when you look at it politically would inure very much to the detriment of congress and republicans if they really allowed the government to close down and let obama and all these people use political advantage. my view, pass the debt ceiling. let it go.
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don't use it for advantage this time. when 2017 comes around and we have republican president and republican congress we can get to control budget items and bring the budget back into balance. melissa: let me go back to the strong dollar a second. this is one of those conversations that goes on and on. strong dollar is hurting a lot of companies right now. this has been a real challenge in terms of doing business overseas and does seem like other governments defend their companies better by devaluing their currency. what do you say to companies that are throwing up wadded pieces of paper at the screen? >> don't look at this just in the terms of u.s. exports and domestics production. look at it in terms of u.s. consumers as well. we're getting high quality foreign products at much lower prices than we were before. so we have both the consumption and production side of a currency. on production side, weak dollar is better for companies. when you look at from
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consumption side, a strong dollar says we buy a lot more foreign products cheaper and better for u.s. consumers. market should set exchange rate on dollar in foreign exchanges but there should never be any pressure on the part of the u.s. to deliberately devalue the dollar. in the long term that has never worked out. if you look at the time period when the dollar is strong like during the reagan period, that gives you a strong economy and gives you a strong currency. melissa: art, you said we have to control spending in the legislature. we all know that is not happening. >> that not today but it will be. thank you, liz. melissa: from your lips to god's ear. thank you very much. david: reagan and clinton, one thing they agreed on was a strong dollar. alleged government double-standard, group ever whistle-blowers saying unfair treatment in the hillary clinton email investigation. fox news chief intelligence correspondent catherine herridge in d.c. with the latest. this is fascinating. reporter: thank you, david, good afternoon.
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speaking here at the press club in washington the whistle-blower said there is a double-standard. they were aggressively prosecuted under espionage act for sharing information, sometimes classified information with working journalists to expose alleged government is misconduct. former cia officer jeffrey sterling went to congress with his complaints but ultimately sentenced in may to 3 1/2 years in prison for violating the espionage act for giving classified information to a "new york times" reporter. sterling was also convicted on obstruction of justice charges because a single email was missing from his account, even though the government could not show he was responsible. also there today was thomas drake, former senior nsa official also prosecuted under espionage act for sharing information with "the baltimore sun" reporter. he says their cases showed there is a law for average citizen and different set of rules for the powerful. >> this is secretary of state, one of the most targeted individuals by other intelligence agencies and entities in the world, using a
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private server to traffic in highly sensitive information. no doubt including classified information and no doubt information including sources and methods. but, hey, i'm secretary of state. even obama gave her cover. reporter: one of mrs. clinton's primary defenses she did not know the emails contained classified information because they were not marked in that way but leading national security defense attorneys say that that is no excuse under the law. >> the fact that something is not marked or that the person may or may not know it was classified would not be relevant at all in a prosecution. reporter: all the charges were eventually dropped against drake who pled guilty to a misdemeanor but in the process he lost his job, his clearance and his life savings on his defense. it is also worth noting that while the former cia officer sterling was accused of deleting a single email, mrs. clinton has
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publicly admitted she ordered wiping of that server and destruction of 30,000 messages, david? david: different rules seem to apply. catherine, that is very interesting report. thank you very much. more bad news for hillary clinton. 60% of the voters believe the former secretary of state has been deceitful about the state department's role in the whole benghazi attack. even among democrats, nearly one in three say clinton has been dishonest. one in five think the congressional investigation should continue. melissa. melissa: tensions escalating in israel as the country deploys hundreds of troops to deal with the wave of deadly attacks on civilians by palestinian terrorists. prime minister benjamin netanyahu speaking today as the u.s. faces pressure to help. joining me is fox news's john huddy live from jerusalem. john? reporter, melissa, actually israel's military called up troops to help boarder police forces here on ground here in
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jerusalem pause of, as you mentioned the escalating te johne. kerry said that he will be coming to the region soon to essentially try to broker peace talks between israeli and palestinian leaders. really last 24 hours has been dominated by the politics and headlines having to do accusations between israeli and palestinian leaders back and forth. last night palestinian empty mahmoud abbas, said in a speech, accused israel of executing palestinians in quote, unquote, cold blood. those were his words and using, holding up a picture of a 13-year-old palestinian boy that was not executed. but instead was wounded and is being treated in a hospital here in israel after stabbing another teen his age. that really dominated headlines. there is anger about and israeli prime minister netanyahu said
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that abbas is spreading lies and misinformation and that israel is not using any excessive force. meanwhile security is very heavy. there are security checkpoints and roadblocks in and around east jerusalem and palestinian areas there. there is concern about basically the city being divided between the east and the west. that inciting and angering and inciting violence and hostilities. there is also concern, melissa, about the tourism industry here in israel and jerusalem taking a hit because of violence, if the violence continues. we saw that last year during the war in gaza. a 30% drop in tourism. 250 million-dollar loss. so there is definitely concern. i spoke with a tour guide the other day. he said he is being very cautious and avoiding parts of the old city but hopes all of this will de-escalate. melissa? melissa: john, thank you so much for that report. david. david: double-whammy for seniors
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out there. just as millions find out they could be paying up to 50% more for medicare b plans, the social security administration announces they will be freezing increases in retirement checks. melissa: another hit to fantasy sports sites. the fbi and justice department are launching their own investigation. david: it will take more than luck for a new crop of illinois lottery winners to cash in. if you won the state may not pay at ally bank ♪ uals great rates. it's a fact. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda. when a moment turns romantic why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines,
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what is the latest? reporter: melissa, many said it was just a matter of time before the questions start coming. "wall street journal" is reporting that the fbi and department of justice is investigating the business model of the increasingly popular daily fantasy sports league. boston, where the industry leader draftkings has is located are already contacting the site's customers as part of the investigation. fox reached out to federal law enforcement. they would not comment on the journal story. earlier i got ahold of massachusetts attorney general's office and spokesperson said its office is speaking with representatives from draftkings and other high-profile competitor fanduel to make sure the right consumer protections are in place. scrutiny became heightened earlier this month when it was revealed a draftkings employee won $350,000 on fanduel the very same week he released inside information after the start of nfl games. they are allowed to operate
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because after 2006 law that allowed fantasy sports games of skill. that was well before the rise of daily and weekly buy-in fantasy leagues. earlier this week i asked las vegas hotel magnate phil ruffin, about the threat this proposes to traditional vegas betting. >> that is pure gambling. i don't know how it is legal. they're getting by with it so far. it is not taxed. it is amazing. i didn't realize you could do that. reporter: these leagues also attracted millions from investors. our parent company, 21st century fox being one of them. melissa. melissa: blake, thank you so much. interesting story. david. david: a few other stories on our radar. it is official there will be no raise in social security benefits next year for tens of millions of americans since the government says there is no inflation but that is little consolation for those seniors on medicare b plans who just found out they're getting hit with 50% increases.
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so much for low inflation. illinois lottery winners are out of luck. state officials say anyone who wins over $600, will only get an iou until the state passes a budget. two winners have filed federal lawsuits. a family of a crew member that sailed into your wayne joaquin filed 100 million-dollar lawsuit for negligence against the vessel's owner and it its captain. melissa: millenials outnumber baby boomers for the next election but they show up and vote? that is the question. mr. obama laying out a military strategy that involves keeping troops on the ground past his time in office.
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david: it is third quarter earnings season. earnings from mattel,
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schlumberger, wynn resorts. ashley webster following. >> advanced micro devices coming in loss of 17 cents. a miss there. expectation was for a loss of 12 cents. revenue beating slightly. estimate was for 995.8 million. that is amd. i want to point out wynn resorts for you. eps coming in at 86 cents. that was right on the money with expectations. although revenue coming in under 93.3 million. expectation was over a billion on revenue. wynn has a huge exposure to china. some 70% its revenue comes from china. let me say net revenue from operations in macau falling 37.9% that is a big hit for wynn. moving slightly lower in after-hours trading. back to you. david: wow. china reverberates around the globe.
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ashley, thank you very much. melissa: oil continuing its decline for fourth straight day, closing $46 per barrel after eia expects increase in crude stockpiles. gold on other hand continuing winning streak, touching high of $1191. the precious metal is up for fifth day in a row. seeing greater demand, you guessed it, fed uncertainty. david: fox business exclusive. liz claman's big interview with treasury secretary jack lew. a lot of questions will we get some kind of executive action on raising the debt ceiling? melissa: why was it okay for then senator obama to vote against raising debt ceiling? do you remember that? david: i do. melissa: we remember that all that and more coming up next.
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it's innovative enough to brake by itself, park itself and help you steer. it's been in the rain... the cold... and dragged through the mud. introducing the all-new mercedes-benz gle. it's where brains meet brawn. melissa: big surprise for the government. the government is going to run out of money two days earlier than before. liz claman had a exclusive interview with the treasury secretary earlier today. liz? liz: when he walked through the door in the treasury department for our interview, it was exclusive interview, he is only speaking to us today, he looked
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very calm and relaxed. i can tell you there is a low boil going on here. it is simmering of real concern. congress got unhappy breakfast message from the treasury secretary. we're running out of money for the government to pay off our debts, very, very quickly. more quicker than originally thought. november 5th was when we would hit the so-called debt ceiling. we paid interests on all loans we had taken out for things congress already approved. now that has been moved up 48 hours to november 3rd. why? because the tax receipts coming in are not coming in fast enough to cover those payments and which owe that we already planned for in the budget. so what happens? he sent this message to congress but as you know speaker of the house, john boehner, republicans control the house, is leaving at the end of october. he doesn't even know who he is going to sit across the table from to negotiate hiking the debt ceiling.
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i began by asking treasury secretary jack lew, is it different this time? how serious could this be because we don't want a repeat of 2013 when we had a partial government shut down. here is what he said. >> i believe that leaders of congress understand this has to happen. i don't think it was very good experience. the last time we got right up to the edge. we're talking about a global economy that is, it is an anxious time in the global economy. the u.s. is seen as island of strength in the global economy right now. this would be terrible time to raise concerns whether the u.s. has ability to pay its bills and maintain its stability. i think leader understand that. melissa: bring it home to people at home. what would happen, when we hit the debt ceiling? do we stop paying and reimbursing doctors for medicare? do bondholders who were waiting for their treasury payouts not get them? social security checks, can you articulate a little bit so people understand? >> the consequences of not being able to pay your bills means
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that the day will come when there isn't enough money in the federal account to keep current with our obligations. depending on what day it is, that will affect different kinds of obligations. to me it makes very little difference in terms of the consequence of keeping our word if we pay one but not the other. we have to pay all our bills. it is just unacceptable. we can't say we'll pay social security but not veterans. we'll pay medicare but not people who provide electricity to federal hospitals. we have to pay principle and interest on our debt. there has been a fallacious notion that you can pick and choose. our system was set up to pay our bills because the full faith and credit of the united states should never be called into question. liz: you brought up prioritizing, prioritization. looks like house ways and means committee marked up a bill which is default prevention act, talk about servicing debt first.
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making sure we don't default on interest but other things can be put on the backburner such as paying, certain things to the department of defense or the department of education if there was some payout there. why can we not prioritize? >> i think idea that the united states government say there is some set of obligations where we promised to pay, whether it's a benefit to an individual or paying for services that we've already received and we're going to not pay those because we don't have the money? that would be a terrible thing. what does that say about the creditworthiness of the united states. liz: let me be clear, you won't prioritize? >> i'm saying in entirety with, we have, tens of millions of transactions every period. liz: bill paying every month. >> bill paying. we don't have the capacity to pick and choose we'll pay this bill and that bill. the systems were not set up for that pickup. liz: president obama when he was
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senator voted against raising debt limit. why was it okay then and now he is intransigent? >> look at debt limits gotten through over time with some people voting for it and some people voting against it. the question is this congress is prepared to let majority work its will what a majority in congress knows they need to do, the authority for us to pay the bills they have committed to. i do not believe there is majority in congress that wants to default. i don't even think the leaders want to put it in that place. majority needs to be permitted. liz: do awe agree it looks hypocritical perhaps not just to republicans but to voters that the president was serving in the senate under a republican president said, no, i'm going to hold you hostage in a way not lift this? >> the debt ceiling last time it passed with i think over 170 democratic votes in the house. most republicans voting against it. they need to let majority work its will. liz: almighty u.s. dollar is
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muscling up and stronger than ever. may be down in the past couple days but it is great until it isn't. starting to meaningful hurt earnings of a lot of big u.s. companies that have multinational business. just yesterday walmart cited a strong u.s. dollar as part of the reason it has to downplay its next earnings over next couple years. is there any point where you as treasury secretary might not be as aggressive in allowing dollar to run so freely, maybe intervene to weaken it slightly? >> let's be clear what is going on in the global economy right now the u.s. economy on relative basis doing, performing more strongly than other economies. that naturally leads to a stronger currency. the answer is not for the u.s. economy to get weaker. it is for the rest of the globe to do better. for demand around the world to increase. this would work itself through. there are no doubt there are
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some headwinds right now because of the situation. but, at the core the u.s. economy is doing very well. we're, as i mentioned earlier, we've seen auto sales at a very high level, almost historic level. we're seeing confidence at very high level. we're seeing signs of a strong and stable continued growth path. i think we need to stick to making sure that we continue to take steps to strengthen the u.s. economy. i need to as i have been, at annual meetings in peru, urge our international partners to do more to strengthen their economies. what we can't tolerate, we can't tolerate if countries agree, take steps to gain unfair advantage to devalue their currencies. we're very aggressive pushing back on anything that looks like that. liz: you're saying no intervention to slightly weaken the dollar or slow down its march to strength? >> we had a pretty consistent
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message around the world to other countries not to devalue their currencies, not to get into competitive devaluation. that is unfair and dangerous to the global economy. i think it's a sign of progress that we've gotten all of the major international bodies to agree that those are principles we all agree to. but i have to tell you i engage when i have seen any signs a country is doing something to lower value of its currency to gain unfair advantage, i engage immediately, push back. we have great deal of success when we engage. liz: that is no, no intervention on u.s. dollar? >> we need to maintain a strong u.s. economy and needs to be stronger u.s. economy. liz: the dollar matters especially to our viewers, david and melissa, we watched company after company because maybe they don't hedge properly because of a stronger dollar and maybe can't manage their own books. the dollar so strong right now is certainly hurting a lot of companies and stocks that people own.
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that is not his problem. he made that very clear. i think his big issue right now, the massive problem he sees is whether we hit the debt ceiling and whether congress doesn't get its act together and really make sure to lift it and fulfill our obligations. in fact he said if we don't, it is quote, a self-inflicted wound. we know what happens there. lots of bleeding. melissa: liz claman, great interview. great job. corn gratlations. good stuff. thank you for bringing it to us. thank you for doing it in our hour. we appreciate that. >> thank you. melissa: david? david: joining me with their reaction on all this, "wall street journal" james freeman and moody's chief economist john lonski. gentlemen, good to see you. first of all, a lot of people say hitting a debt ceiling which we'll do sooner rather than later according to the secretary does not mean defaulting on our debts. what do you say? >> it doesn't mean defaulting in the traditional sense. ultimately the u.s. government will make good on its promise to pay. however this could be very disruptive to the financial
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system. if only because there are a lost holders of u.s. treasury debt that rely on the steady payment of interest. david: but you can pay off bondholders, james first and sort of prioritize where you spend and make a deal with the president. that is what reagan did. that is what clinton did. >> certainly the government does have options. i don't think it would be a great move to stiff anybody, whether it's a bondholder or some contractor to the government but i think what is interesting here is, here we are about, less than a month, a few weeks out. the house essentially doesn't know who the next speaker is. you have a very large group, saying as they said for years, we want some spending reform to go with this debt limit increase. i see nothing in jack lew's letter, nothing here, no effort to reach out to meet them halfway. david: let's talk about spending. the debt is totally out of control. one figure, about 100% of our
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gdp. about $18 trillion. the gdp over 15-year period increased 44%. our economy increased. that is pretty good. you know how much our debt increased same time period? >> something much faster than that. david: 300%. they're supposed to grow in tandem. at this rate we're out of control. >> you're in a lot of trouble when recession comes. talking about total government debt, state, local and federal. look at government debt. david: intergovernmental debt. which means government has to borrow to pay off social security. >> i want to make the following comparison. before previous recessions we usually had federal debt of 35% of gdp. next time around federal debt will be 75% of gdp. that pretty much obviates applying same type of fiscal stimulus we did in the past in order to get the economy -- david: bottom line we have to get things under control. it is unsustainable at 18.4 trillion.
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james, finally good news to a lot of people. you can see this on the full interview on website. he did rule out or seemed to rule out executive action on the debt. that is he won't take one of these executive actions in order to raise the debt ceiling. >> yeah. but you would like to see some reform. david: would you like to see executive action by president obama to raise the debt ceiling? >> no. something beyond the sequester which is only spending reform we've gotten in this entire era. david: put a fine point. editorialists from "the wall street journal" is not saying that you would like to see executive action to raise a debt ceilings, are you? >> no. what i'm saying is what the administration should consider with a few weeks here, maybe they ought to think about some spending reforms so this isn't another dramatic moment at the cliff edge where they're warning about calamity but doing nothing to prevent it. david: last time it happened, markets recovered pretty quickly. >> they did.
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let's not forget if we really want reform as far as the federal budget is concerned, perhaps we have to do something with the presidential election rolls around. david: john lonski, james freeman. good stuff. melissa? melissa: president obama casting aside to end the war on his watch. our panel weighs in on his decision to keep troops in afghanistan. that is next. >> plus tensions escalating across israel. the nation's plan to end the violence. that is coming up. ment can protect capital long term. active management can tap global insights. active management can take calculated risks. active management can seek to outperform. because active investment management isn't reactive. it's active. that's the power of active management.
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big day? ah, the usual. moved some new cars. hauled a bunch of steel. kept the supermarket shelves stocked. made sure everyone got their latest gadgets. what's up for the next shift? ah, nothing much. just keeping the lights on. (laugh) nice. doing the big things that move an economy. see you tomorrow, mac. see you tomorrow, sam. just another day at norfolk southern. if you're an adult with type 2 diabetes and your a1c is not at goal with certain diabetes pills or daily insulin, your doctor may be talking about adding medication to help lower your a1c. ask your doctor if adding once-a-week tanzeum is right for you. once-a-week tanzeum is an injectable prescription medicine that may improve blood sugar in adults with type 2 diabetes, along with diet and exercise. once-a-week tanzeum works by helping your body release its own natural insulin when it's needed. tanzeum is not recommended as the first medicine to treat diabetes or in people with severe stomach
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very narrow, critical missions, training afghan forces and supportings counterterrorism operations against the remnants of al qaeda. david: joining me to talk about this, mike baker, former cia covert officer and avij, reserve intelligence officer. mike, is the ped backpedaling? >> he is doing what he needs to do. it's a pragmatic decision. david: the answer is yes but good he is doing it? >> it is half measure unless he has no option unless he wants to see the place fall into chaos during his remaining time. david: he went against the generals, against the pentagon, pulling out of the iraq with almost all forces. generals said don't do it. as a result a lot of people say wave seen growth of isis. is that what he was being told, we would see in the same in afghanistan because of isis? >> i don't know about isis but yeah, look we were facing collapse of the government. i mean he wanted to go from legacy to drawdown afghanistan
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and kick the can down the road. that is what we've done. david: would we see the growth of isis if we pulled out precipitously from afghanistan? >> yes. the same way we're seeing it develop in other areas. isis, al qaeda or any other like-minded group, they take advantage of the vacuum. they take advantage of chaos. that they move into. look, taliban already have dealings with isis at this point. so there is no doubt, the problem with the president is, it's never this is what we're going to do and here is my strong, strategic leader-like decision. he is sort of the prince of pabulum. he said a lot of things, first, that sound really good. when you repeat them to yourself, today talking about afghanistan, i think we're all well aware i do not support idea of endless war. of course not. david: navid, it at least he appears to listen to generals in afghanistan now? >> he mentioned jalalabad,
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kandahar and with those places airfields. if you want to kick the can down the road you have airfield to send pair shoot troops in, you have a place to do it. david: has he given up iraq essentially ceding it to iranians? >> iranians have more influence in the region than modern times. what we've been seeing from this administration for the past seven years, a desire to step off the world stage. a desire to rule through committee of like-minded nations.when you do that somebos to be top dog whether regionally worldwide. david: good to he see you both. gentlemen. melissa? melissa: young voters could throw 2016 candidates a curve. we'll talk about the changing conditions he they have to apdad to. bloomberg for president? our own charlie gasparino weighs in on the lingering idea. that is next. ♪ technology empowers us to achieve more.
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melissa: the next gop debate hosted by cnbc could have a few empty podiums. the donald joining forces with ben carson threatening to boy cot the debate if longer than three hours. fiorina getting last word, that the two of them don't have endurance to debate here. we'll see. david: three hours is too long. mike bloomberg, meanwhile, served three terms as mayor of new york. he is worth $37 billion but is ready to be president? here with the details it charlie gasparino. charlie? >> bill ackman, famous short seller of herbalife, made other big bets, very prominent and very riff, runs in same circles with mr. bloomberg. at a conference he reiterated at a conference that michael
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bloomberg is running, he strongly believes this, running for president in 2016. he believes he will run as independent. announces his run in first quarter next year. one of the interesting things he doesn't say why he believes this according to people at conference. this was the managed futures association conference. it is in new york city. a lot of investors were there. i heard it when he said it. i was emailed by some of people there but none of them gave any context why mr. ackman thinks that way. i will tell you one other thing, david. i spoke with a bloomberg confidante. mike has told me nothing about running for president, he told me. i'm wondering how solid it is. it is bill ackman. he is saying it. he runs in the same circles. when you're a new york city mayor i guess you think you can be president. rudy giuliani did. for the record mr. bloomberg's spokesman declined to comment and so did mr. ackman's. would be great he got in just for ratings value. david: two billionaires running
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for president. whoever thought. charlie gasparino, thank you very much. very interesting. melissa? melissa: presidential hopefuls may enter uncharted territory in 2016. fir time the millenial electorate in the u.s. expected to pass boomers this year, leaving candidates to find the way to appeal to seeming opposites. which candidates will keep with the times without losing their boomer support? here to weigh in is catherine kemp, "national review" reporter and fox news contributor, james freeman of "wall street journal." guy benson, political editor and fox news contributor. thanks to all three of you for joining us. what do you think, catherine? who do you think millenials will like this race race? >> i there is common thing millenials have gop candidates which is a problem which is social issues. we don't really care about gay marriage and that kind of stuff. even though it is still legal they're talking about it. remember that i don't like gay marriage.
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that is something i get you have to appeal to boomers. now that is already legal maybe we can stop talking about it. marijuana, a lot of us don't care who is smoking weed. melissa: you will vote for president based on these things is what you're saying. >> i'm talking talk millenials n general. melissa: as opposed to big financial -- >> i don't see social issues changing no matter what. i will vote based on economy. overall most people don't understand how the economy works. but they know how they feel about social things. melissa: james freeman, one of the things millenials don't necessarily show up to vote as much there. is big idea we need them to come join us, i think last election 41% turned out to vote. in general population it is about 54%. do you try to appeal to these people? do you just look for our own base and put that together? no really challenge for hillary clinton where you had big turnout from this group in 2008, 2012, but obama campaign aide
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from that period says he thinks she is making mistake going hard left on these issues. believe it or not the young people support for obama was not idealogical. it was about the nature of historic candidacy, his magnetic personality. melissa: yeah. >> she has a real challenge. i don't think she inspires that same level of excitement. she may be making a mistake if she thinks it is all about issues. melissa: guy, what they're kind of both saying it is about feelings for millenials. which i mean, it is a little bit denigrating in a way. but you know i heard younger people say they like trump that he is not lying. first person to be out there and honest. the other side of appeal to millenials of bernie sanders. they feel like, no matter what we think, actually talking straight to them? >> i think one of the things, first of all there are similarities between millenials and boomers.
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not like these are two completely different electorates on everything. they care about the economy and jobs, right? these are things everyone cares about. to your point millenials in particular are looking for authenticity. that is one of the biggest liabilities hillary clinton has. say what you will as you just pointed out about bernie sanders he says what he believes. so does trump. a number of republicans do well in this area. hillary clinton has struggled to connect as an authentic person. i think that is achilles heal for potential millenniums. melissa: don't you think he is wrong? i don't think they care enough about the economy and jobs. for me -- >> i think they care but don't really understand how markets work because they don't really look into it that much. melissa: yeah. >> they also, in terms of the economy wait, republicans, republicans they want to take aware health care and want people to starve to death in the streets. that is narrative they are able to push. everybody says it is nice for people to have things.
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that is easier to understand rather than to look into how might not work out that way. melissa: this is very depressing. >> sorry. melissa: really underestimating these people. i don't want to take responsibility for what this panel has said at all. go ahead, james, dig deeper. please. >> if they did vote on feelings in '08 and 2012, there is sense they're moving towards mature decisions about life, work, family. >> think? >> for example, people thought this generation is totally different. millenials will not get married before they have kids. you see that changing now. melissa: we have to go. thanks, guys. david: did james just say young young -- youngsters. >> relatively. david: wild things. i love the tease. the zookeeper love triangle over a llama goes to court. you don't want to miss this. ♪ 't order szechuan without checking the spice level. it really opens the passages. waiter. water.
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. melissa: love gone wild.
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it is a tale as old as time. a zoo keeper's love triangle. a former mir cat expert must pay more than $1200 to a monkey handler over a dispute over a llama keeper. david: since the dispute, both women reported a split with a man, wow. melissa: there you go, mamma mia. take it away. >> when we hit the limit and can't borrow anymore, we're operating on a cash basis, we have to have enough money to operate the current day's bills but also the next day's bills. at the point on november 3rd when we run out of borrowing capacity, we will have roughly 30 billion dollars in reserve. that's very little. there are individual days when we have 60 billion dollars of expenditures. deirdre: the calculations heard around the nation. treasury secretary jack lew says he is cutting two days frme


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