tv Cavuto Coast to Coast FOX Business October 19, 2015 12:00pm-2:01pm EDT
record as secretary of state . stuart: wall street journal mary on a potential joe biden run and the late news is that joe is leaning toward running, and he'll make the announcement soon. my time is , neil cavuto, it's yours, sir. neil: thank you very much, stuart. we're getting news out of texas, they're trying to kill this planned parenthood, because if washington can't do it, a number of states are going to try. texas for cutting planned parenthood, it follows half a dozen states that have done the same. position but as soon as they do something like that, legal challenges crop up from l.a. for example, have stopped and defund planned parenthood in louisiana. whatever is going on here is moving fast and furious to blake berman on this latest. >> good afternoon to you. this all began earlier today from a letter from the texas inspector general, five pages long, just gave it a read over, the inspector general there is stuart, in this
letter here, he cites videos showing the fetal tissue basically those videos that we've seen that were filmed at texas and through planned parenthood facilities all across the country. this letter goes to planned parenthood gulf coast, which is basically the planned parenthood there in texas and he says as you see there, the state has determined that you and your planned parenthood facilities are no longer capable of performing medical services that professional confident safe, and ethic manner so the inspector general there citing those videos and what they're doing in texas saying no more medicaid funding from the state, no more state money. but as you know planned parenthood receives money from different avenues as well, through the federal government, through means of its own right and as you mentioned, neil, they will likely set up a legal battle with this, doing the same thing in louisiana with a judge there, the same thing medicaid blocking and they
ruled in favor of planned parenthood and in this letter stuart bowen tells planned parenthood that they can fight this. so a legal charge is certainly setting up but the headline out of texas today, no more state funded planned parenthood there. neil: all right. thank you. that includes the side texas louisiana, north carolina, arkansas, alabama, utah, new hampshire, indiana, and ohio. all of these are examples of states that have tried to reign in state medicaid funding. in other words, just the amount of medicaid money they get to stop funding planned parenthood. that does not get it off at the national level. keep in mind it has many discretionary funding prerogatives in washington that would not simply kill it off but choke it at the local level. but the planned parenthood has been a galvanizing for within the republican party particularly among the likes of ted cruz and bobby who is
facing a judge slapping down for going too far. steve forbes on that and what this means. steve, what do you think? >> well, it just goes to show the base of the republican party and indeed among some independents there's real outrage about what those videos showed and the question is okay. what can you do about it? and so they're trying to find legal remedies both in the local level and federal level to cut this thing off. as you know, neil, the federal government is not supposed to fund abortions. that's been true since the 1970s with the hide amendment. so planned parenthood because money fundable, has been getting around that, the legal prohibition going back to the '70s on abortion. neil: now, we should be clear. federal monies we're told planned parenthood do not go for federal abortion but money is fungible and we do know -- looks at abortions and handles abortions. so where do taxpayers draw the
difference, the line? >> well, that's what this is all about and in terms of planned parenthood what congress is trying to do is saying since money is fungible since you're getting around the spirit of the 1970s, law cut you off and put you on money for the clinics that provide health services around the country. planned parenthood is not the only one in the business of health services and that's what the republicans are trying to make the point about. . stuart: so wouldn't republicans be wiser to have a more doable, winnable strategy, not entirely defunding planned parenthood because that seems to be an uphill battle. but defund those that's fair to say hint going toward abortions or this type of activity? >> well, they could put language in if they can't defund planned parenthood as a whole by teaching legislation that the white house would consider a must. you could put in stronger language or should give local government efforts to attack medicaid funding that may be going to funding abortions
like planned parenthood. neil: all right. steve, i want to bring viewers up to speed on late-breaking news about what we're following here. we have now the state of texas effectively saying planned parenthood in our state, you are -- you cannot be allowed to operate in our state. but steve, what that gets back to is among the eight to 12 other states that have toyed with this, a judge stops them in florida no less than three cities, as soon as the government hinted he wanted to do this, three cities challenging a foreseen effort. so this doesn't end without a big fight; right? >> well, on something like this issue where you have sides that are very, very attached to it that's no surprise you're going to get legal challenges. but the thing is you keep probing trying to find ways to carry out the will of the legislature in this case and eventually you will succeed. if you take a passive approach, that's what frustrates people, you keep
trying to probe, find ways to do it. and legal ways to do it. and so one judge says one thing. i guarantee you that at a higher court level and another state a judge or panel of judges is going to say something else. so this will eventually perk its way up in the next couple of years to the supreme court. but to get there, you've got to fight on the local level as well as the federal level. neil: all right. and ted cruz getting a lot of money for his campaign, picking up in the polls. do you think this is the reason? continuing to fight a good fight on this? >> it's one of the reasons but i think the case of the party in case donald trump falters is looking for somebody else who can carry the banner. he's trying to do it, carly fiorina is trying to do it, which, by the way, why the debate at the end of this month among republicans is going to be a very fiery one all of these candidates know they have to break through. neil: but do you think that this gets to the point of
being worth threatening to shut down the government? >> well, in terms of -- we know that possibility is coming up. and one of the things i think we're looking to the leadership of the house is do you have a plan b? do you have ways of doing this? for example, there's an article today by steve moore the famed economist pointing out about how you can use the debt ceiling in a much more constructive way of starting to reign in the government by tying the debt to gdp ratio to government spending and having restrictions on that and automatic cuts if these restrictions are blown away. so there are various ways you can do this and i think what people are looking for, okay. the nuclear approach of government shut down doesn't work, what other tools dow and are willing to try? and i think that's what you're going to see play out in this case in terms of the government debt ceiling. neil: all right. thank you very much. keep in mind if this sounds familiar to you, it's very analogous to the fight of
obamacare and take it to the states and if you understand at a state level. you've heard a lot about that, essentially detoothing it at various state levels. now, the question is whether they can do the same with planned parenthood. we shall see. all right. well, we shall also see whether one joe biden errants the debate on this and errants the presidential debate period. there is talk now that a decision on his part is eminent whether to enter this race. big joe biden don't evener and supporter joe bartman with us now. what is the likelihood he does enter this race? >> neil, good to see you again, i think it is an excellent opportunity and the odds are about 99% that the vice president will, in fact announce. neil: what's been prompting this slow go approach deciding? >> i don't know exactly. obviously i'm not privy to everything the vice president considers. but i think it was a number of factors, including the family and now that has been ruled
jill and others have come out in favor of him getting into the race. and i think that probably was the biggest single thing. neil: bill, do you know whether hillary clinton's debate performance last week made him a little bit more gun-shy. she did i think even the critics would agree a very good job in that debate, there by nullifying the need to see a biden entering. what do you think of that. >> i do think with most people she did do a decent job and kudos to her but, no, i don't think this has one drop of bearing of whether or not to run. you and i have seen lots of raises, lots of debates, good ones and bad ones don't win or lose races. neil: but still why did he drag this out? time is money and he's losing out on money and a lot of donors who were skeptical even hillary clinton donors superintendenthave decided to keep their lot -- not all, but do you think that's going to
weigh on him, he's so late in this as a sitting vice president he can obviously still get money when would have to move hard and fast or anything approaching hillary clinton money. >> i think it's quite the opposite. if you look at the statistics, 833 major donors to and on my only about 9% of them had given money to hillary clinton. think about that for a second. all 833 are major democrat donors, all of them want the democrats to keep the white house, all of them have been solicited by hillary and only 9% said "yes." if i were a hillary staffer, i would think that's equivalent to finding a dead canary in a coal mine. i think the other 91% are waiting for vice president biden to throw his hat in the campaign. neil: are they aware the same campaigner, my hat's on which to the vice president but his two other tries for this top office of not exactly been inspiring. so you do wonder whether even
the last effort will generate that. >> abraham lincoln lost eight elections. neil: i love you dealer but joe biden is no abraham lincoln. >> all certifies hat. neil: yeah, well, you could be right about that. let's take a look oil right now, it is getting hit hard and largely on the belief that china is not growing as fast and just under 7% clip and that was marginally better than thought but i should still stress this is china giving us these numbers. it would be analogous if i told you i weighed 175 pounds. really? well, that's the dilemma here. so how much faith do you place in a government that has routinely lied? after this
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. neil: china continues to rattle the local market and raddling saying that they grew at a third quarter at a 6.9 clip now, we might find that to be an envious growth rate and having said that though, 6.9% if you pick at the data you would be having a hard time to figure out how the economy grows. having said all of that, it seems to be china is slowing down, its once hot real estate market is cooling down and that has vladimir putin saying it is obviously impacting oil prices, obviously as the demand subsides. but, you know, i don't believe these guys. i didn't believe them when they said they were going at a 12% clip. like the john love it's just of the international community; right? you just cannot buy what they're saying.
so should we be really worrying as much as we are now? >> oh, i think we should be worrying more than we are now. i'm amazed that people take the 6.9 perverse that they're saying with any grain of truth, 12%, to do this year after year, it's ridiculous. and if you look under lying it, did you know china's bank debt has actually doubled since the financial crisis. it has more bank debt than the u.s. twice as much in the u.s. yet their economy is barrel half our size? come on . neil: all right. so what do you think is a realistic growth rate? half that? a quarter that? >> i think it's more a quarter of that and kneading recession. that's what people don't want to admit, this economy is very likely heading into recession, something they can't imagine given its dictatorship is going to tell you something different or plan something different with be but i think it's kneading recession, a quarter of that would be a good guess . neil: so the fear, and you know, bob, you've expressed
this well in the past but potentially in the world it's a big market that freezes up on us and it's the start of a conphage we've already got signs out of japan that the third quarter gdp could be very, very weak. but the part of the regional and now global issue that we can't we don't appreciate. do you agree with that? >> no. question. before a distill, again, another country having real trouble. even canada. canada is flirting with recession and that's partly because low commodities prices. it's hurting everything, certainly hurting our stock market. but the idea that it's going to rebound in the next year or two because china's going to do more stimulus, that's where they are massive stimulus already, i don't know it's going to rebound because of more stimulus . neil: they own a lot of our debt 1.3 trickling worth, and scheme of things really small, but it could pick up; right? >> it could pick up. there's no question they're
under pressure, that could cause more declines, more selling of bonds. so you're right. not just the economic issues from lower demand and lower exports or imports but absolutely the effect on the currency markets, as a matter of fact, on our stock market falls, there's falls. no question about it . neil: where else are investors going to go? still the best bet as far as investing -- even at 0% rates because we're stable. we're stable. what do you make of that? >> well, we are stable but that's assuming we're always stable. the reality was mortgage bonds were a great deal in 2006. people were jumping all over them . neil: you're right? >> because they had no, and i couldn't got a nice return on them. so all over the world they were buying bonds in 2006 and 2008 they were toxic . neil: thank you very much. and other developments we're following in texas, that state delayed to say planned parenthood you're not getting a dime. other states had done the same.
in louisiana bobby tried to force the bausch a judge slapped him down saying you do not have that power of prerogative. now, expect other legal challenges as they have popped up there, but a notch republican governors and legislatures have been saying what you can't do, we will do. if that looks familiar to you, like health care battle, it should because that was exactly the same script. we've got that and the latest on how wall street is factoring all of this in and how it is still betting on a president jeb bush. really? if more on that
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them and taking down their border to find that open its border serbia for some migrants to come in totally. unfortunately, thousands took advantage of the moment when they were only looking at a few hundred and that stranded activity on the border and froze it with police then trying to bring it in but not before 2,000 got in. keep in mind that there are a number of states within the european community that are similarly looking at letting some of those millions in. but if you total them all up, it still amounts to about 800,000 tops. 4million now. likely be 8 million soon. i think the word is mess. now to politics and charlie gasparino so jeb bush and the mess he's facing in the polls and maybe, maybe what are has his biggest advantage. money. >> trailing off. that's been in the news lately, and i'll tell you. it confirms some of the -- his
ability to raise money translated into his staffers taking pay cuts. and number one, this is a static picture, last quarter he got most of the wall street money from most of the candidates, and 100,000 compared to -- i'm going by memory . neil: they were close. >> yeah. they were close. but still far away anybody else. but even that money is trailing off. as he sits in 6th place and people are saying on the street because i remember him talking about all the time well, look at ruby, he might be the established candidate. look at -- and let's hold back because trump still isn't fading as much as we thought he'd fade and let's take a second look to carly fiorina. it's really interesting to see just how jeb is faring right now, or not faring right now. how poorly he's doing among his core constituency, how they are now raising questions more than ever before .
neil: what -- i always phonic candidates, he was left with about $10 million. >> right. neil: which is still a good amount, but it shows a high turn rate, been burning through the dough he has. >> i think what's scaring him primarily is what scared him about walker, which made it impossible for people to raise money for walker is that they don't think he's a particularly good candidate. and, listen, i think jeb has got built in advantages over someone like walker, he can -- he can rise above his -- neil: we don't know whether these rumors moves of marco rubio are true. they have a lot of money between the two of them or three of them,. >> billions . neil: how likely is it they commit to one candidate? >> not now. and i don't hear that the coke brothers are -- just so you know they don't talk to me directly. but through intermediaries that allegedly know them, are not particularly inspired by jeb bush and i'm telling youene notice he's got a
network, the bush family name is royalty in the republican party, he's got a network of fund raisers, you can hear the questions and if he stays in this, which he's been what? 6%, 8% in the polls, if he stays through through the end of the year, is he forced to drop out? . neil: charlie, thank you very, very much. we told you at the beginning of the broadcast that texas became the next state to defund planned parenthood. and on the phone now, clinic director abbey johnson. abbey, how realistic of a threat to planned parenthood in texas is this? >> i think it's pretty significant. in texas we've already been successful at taking away 29 of the $31 million of money here that was going to planned parenthood. that has stuck in the court. this is the remaining 2 million.
i think that we certainly have enough evidence -- not just because of the videos but other things as well that's been going on medicaid fraud i think we certainly have enough evidence to make this stick. neil: you know, abbey, i always think that the other states tried and couldn't, louisiana comes to mind because the same day a judge slapped down for essentially and florida, three different cities in florida making preempted moves that if governor rick scott tries anything like that, they will go ahead and file so it sounds like something a lot easier said than done. >> yeah. i think many times it is. i think one of the differences here is that -- i can't talk about it too much. but he we have a significant amount of evidence here in the state with different departments in the state that we believe we will be successful at defending this we know it will go to the circuit, we know that, you know, it may even go higher than that. but we think based on the
evidence that we have that's not even completely public yet, we believe that we do have a solid case. . neil: now, abbey, i'm not a lawyer but i think the legal argument is planned parenthood is doing things that its legally not supposed to do especially with taxpayer money. there by has defrauded taxpayers in this case. is that the gist of it? >> that's correct. and reserve the right to cancel the contract, the medicaid contract if they do have overwhelming evidence if one of the players is committing some sort of fraud and the state of texas believes that we have that evidence. so i believe that we're really confident . neil: all right. we'll watch very, very closely. thank you. in the meantime we are going to be getting more updates from texas because this is as big as they get challenging federal funded organization. but not exclusively federally funded. planned parenthood is one of those hybrid agencies that gets a lot of local support,
even down in some cases to cities. and that has been at least challenged now up to i'm told ten states. all right. in the meantime senator bernie sanders on taxing everybody. well, at least he's being fair and balanced if you include a top 90% fair or very unbalanced. after this can a business have a mind? a subconscious. a knack for predicting the future.
neil: if you are looking about guaranteed paid family and medical leave. virtually every other country has. >> that would hit everybody. >> yes, it would. we are the only country, only major country on earth that does not guarantee paid family and medical leave. neil: to bernie sanders wants to make sure that everyone is a little bit more. at least he's consistent to say that everyone would have to pay their fair share. what we had back in the 1950s. good to have you. what do you make? >> if you think big government is the solution to our economic
problems, evening free enterprise and individual liberty is the way to go, then he is not your guy. if you think the post office is run well and fedex and ups are run poorly, you should go for bernie sanders. it all depends on your view. people should be able to keep as much as possible. jimmy carter and barack obama and bernie sanders do not believe. it is a difference of opinion. >> we have heard this argument before. this is what other countries do and in europe. i would just urge not to go there. this is what they do. there seems to be -- well, it is working for them.
portugal not far behind. leading to these governments in the disarray that they are in. >> you can throw spain into those as well. this is what happens in europe. that is a good example for the free market system. we have more investment coming into this country. resembling a strong economic recovery. the land of the blind. right now, we are the one i'd and. people are investing. you are not in europe. with the exception of germany. germany has no military. we dropped out. staying off the threat from russia. their economy would not be doing
well either. i hope to keep choosing it. neil: it makes hillary look, in comparison -- maybe he is helping her. >> he is certainly dragging her to the left. you get a lot of support from the far left and the democratic party. a lot like when donald trump says something. you're pulling candidates to the extreme as we go through these primaries. that is a negative for everybody. a negative one that they actually have to govern. it is a much bigger concern to me who gets the nomination. who gets the president sees the new gets the nomination. i know you were big backer and supporter with mitt romney.
he said he can empathize a little bit with what is going through paul ryan's mind. he does not want to hurt his chances of paraphrasing. trying out for speaker. if it blemishes him, his residential prospects. do you think that that was the right thing to say? i know what he meant, but wasn't the right thing to say? >> the bigger problem here, the thing we need to be concerned about is why are we having such a difficult time finding somebody who is willing to take the number three position and our government here it this was an honor. this is something that people sought after. talking about being speaker try to keep frauds in a wheelbarrow. given the divisions in our party, it has become almost an impossible job. if republicans do not unify, this far right up of
representatives not trying to work out a deal with people that are in the center and far more numerous, the republican party will suffer. this is something that is happening every day. we need to come together. our problem is we are a party of fiscal conservatives. social conservatives. it is much easier for them to unified. as republicans, together we stand strong. divided, they will be this. people need to get their act together. they need to get it together now. neil: you are right about that. andy, thank you. neil: planned parenthood defunding effort in texas right now. congressman, you know the legal challenges to come.
similar efforts stopped by a judge. similar efforts in florida. trying to cut it off. easier said than done. >> you are correct. however, the state of texas is aware of the lawsuit and the ruling in louisiana. former attorney general. making this decision after that legal ruling. obviously, the state of texas think that they have other legal grounds for stopping the money. neil: what are they? the difference in the others working on similar efforts to shut down planned parenthood. >> one reason is the videos. the videos are a criminal violation. of course, the contract could be avoided are the state of texas. in the state, they have looked
at this issue, the inspector general of the state, you are not getting any money because of the fraud on the own legal acts taken place in the video. maybe that is the different twist that is taking place. there will be different grounds, that is for sure. >> i appreciate it. the latest state to say no to planned parenthood did there will be no planned parenthood texas. we will keep you posted on that. if you have a drone at home or you and your kids are working on one, you better register it. it is now the law of the land. like you would a motorcycle or a car. just so they can keep track of you. we will have war to this. ♪
neil: we are down about four and a half points right now. no big deal. china has showed that its growth has slowed. 4.6%. here today, that averages up a little bit north of 4% year-over-year. 46%. going down pretty much consistently. whether we should be related about it. jo ling, obviously, a lot of issues among them. do not worry, all is good. this concern is way overdone. >> taking a look at aly baba. you have seen stock take over the last year. quite a bit of a recovery. even since that aaron's article. looking at the overall situation with aly baba, they seem confident. they have entered a deal.
they want to buy the youtube of china for $3.5 billion. they want to take that company private. take advantage of all of those internet advertising revenue up even further. ali baba still confident. neil: we also know they have the world's most billionaires. it just keeps going on. >> you have to realize 242 new billionaires in the last year in china. keep in mind that is because of a bubbling market. if market continued to take a dive, that number will come down pretty darn quickly. it is just amazing to me how they can be right at 7% every quarter. these are fixed numbers. i do not i a lot of things that they say.
neil: i would be surprised. >> i do not know exact number is. i would say a lot lower. i look at these youtube videos of cities that were built that have nobody, and we are talking cities, nobody in them. that goes towards their gdp. you know something is up. i know it has been bouncing a bit. as soon as we came out with a bag employment number, the all-important corridor point and the big money started buying again for now. neil: yes. jo ling kent, they were actually humiliating themselves. that continues. i am wondering why. better to be friends then do business there? risk something worse happening because you are not there? >> the chinese internet market
will only get stronger even if our economic weekends. the government is still trying to get him. we are talking about twitter and facebook. mark zuckerberg sitting at the same table. you look closer at the issue. driving advertising rates. they are taking advertising revenue from china even though they are blocked they are entirely. it is a really big play. neil: you know, gary, really quickly, i do not believe anything i hear out of china. i believe what jo ling tells me. i think that country lies about double-digit growth. lies about how the people are working at a factory. if they are working at i'm really beginning to think they are worried. >> correct, my friend. markets realized over the last
few months that is what matters the most. i have this line that everything is always a okay. arresting people if they are shortselling. they know something is going on here. they know markets are reacting to something there. markets are pretty darn smart. i think you have to be very, very careful about that area. >> my sources and i china. among some of the wealthiest. what they are telling me is that there is a lack of direction. so many priorities. trying to tackle. slowing down. a crackdown on corruption. information inside china as
well. keeping things of flow. doing everything possible. i do not think it will continue for too long. i don't know if you knew this, our friends have a big election going on. continuing to do so. we love canada. we love maple syrup. we love hockey. the fact of the matter is the liberal government takes over for the climate change crowd. it is sweet. very suite. ♪
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neil: joe, just tell us. joe biden is telling his supporters that he is planning to jump into this presidential race, but he is not rushing it. this could be done this weekend at an iowa event. we do not know for sure. we just know that the president is taking his time on this. no way of knowing. it may be this week, next week. it may be after the entire nominating process is done. canada has election going on. today is the day. sixty days. right now, the conservative government is in peril.
if the name rings a bell, sort of a liberal icon. john kennedy. if you will. looking upon as being sort of the savior when it comes to environmental issues. we can go to paris, united as a country to reduce our emissions. a long holdout against emissions standards. the new prime minister they are has said that he too, is open to looking at the threat of unregulated emissions from factories. mark, i do not know if you are into hockey. you are a skeptic of those who
argue. if china moves, i'm sorry, china moves, canada moves to the left, we are getting closer to a policy. obama's advisers advising him on how to win. he will make a complete u-turn on climate policy in canada. united nations advisor to the united nations david king actually identified old australia and canada as the two holdouts. now, skeptics have lost australia. maybe on the verge of losing stephen harper. if you are a global warming skeptic, china may be the best hope to protect sovereignty. all eyes may be on china. neil: australia and canada were
considered the bad boys of climate change. their argument was i do not debate the fact that the claimant is changing, i do debate that we will have to spend $300 across the globe to fix something that i'm not sure entirely is man-made. >> socialist schemes. clearly on board. when president george w. bush and harper were very sympathetic to each other on the climate issue. australia and canada gone and president obama gunning for his climate legacy, john kerry and obama are essentially going to make any piece of paper put in front of them -- now with australia and kennedy backing them, we face a real possibility of having a new united states i
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to go the distance with you. call now to request your free decision guide. neil: i know we are all focused on who will ultimately become the next speaker of the house. this is a number that keeps moving were card list. it will keep moving whether we inch of the inside that limit and do not extend it. the debt that we already have just keeps piling up. up and up and up and up it goes. our total debt is north of the ceiling that we want to extend. that shows you how bad that it is. we will be down in another few legislative days. secretary lu has warned if we do not move fast we could be in a heap of trouble. we are very close. keep in mind, $3 trillion in tax
money keeps coming into washington. you would think that there is a way to prioritize. having said that, senate budget committee director with us. the bipartisan policy center. is it your sense that we will just sort of do what we have always done? find a way to raise the limit. rob peter pay paul and then revisit it in another few months. >> good afternoon, neil. yes, that is exactly where i think we are headed. we are expecting this to be the situation again. i would expect that we will not default. we have never defaulted.
he may be right up to the brink. whether that is secretary suggesting something from his perspective that we call extraordinary measures. neil: what would get us to default. treasury notes and bonds. >> i will say that any kind of nonpayment on the interest that is due, that would be very dangerous. that would be a major crisis from my perspective. i think that that would jeopardize our financial situation. significantly. particularly in the global markets. we are still the best looking one. i guess what i want to ask you
we do not increase this limit that may still even come in here and the people at home they have to prioritize. having to do the same thing. >> yes. there is a bill that will be considered later this week. doing exactly that. we prioritize our payments. the bonds that do come due. the second thing that would prioritize his security. the third day of the new month. yes, we could prioritize and make those payments. i will simply say that it makes it very difficult because 80 million payments that have to be made almost on a daily basis and determining who receives those payments. we also say it will be politically difficult. the argument will be made that
you are paying the interest for bondholders from china so to speak. you are not paying our military. it will be a controversial vote. stuart: i think that you can do all of the above. thank you very much. the search for a speaker to deal with this. mitt romney over the weekend warning he can well understand why paul ryan may be leery. it is risky. you become speaker. you could hurt your chances. also running for president. whether this was the right thing to say. i am just wondering whether it reminded people about the political risks that you take with this job. >> i think that history supports mitt romney's objective on this. if you want to be president of the united states, i do not think that speaker of the house
is a good path to take. paul ryan is an extraordinary leader with good capabilities. doing congress a great service if he steps up. it certainly could be described as something that would be the best path. neil: i might. i'm not willing to negotiate with them. very strict. providing the support. someone like a paul ryan. ryan's message to them is i will not play that game. >> it would. i think that he would at least have a honeymoon time. certainly respected by all of congress. he may not be all that conservative. his view is pretty conservative. if you did not do it, it is clear whether he would do it for
a minute late. that honeymoon. could get him through that if that is what he was thinking. they need a leader. they need someone to bring that republican family together. probably the only person in the conference that can do it. >> thank you very much. on the phones with us right now. trying to shut down a planned parenthood. the legal fight is on. defunding planned parenthood. i always hear easier said than done. part of this will be litigated. the house passed a bill a couple weeks ago. the flexibility to be able to withhold funding from an organization that they believe
engaged in an unlawful enterprise. neil: totally he funding the operation. the provision of obamacare. you did get some and not except his exchanges. can this do the same? planned parenthood is at its root. you can make the argument if you choke off medicaid funding within the state. you will not choke off all of it. >> making steps to remove planned parenthood from the service provider and they set up their own limited shelter that has actually gone quite well for the past two or three years. in fact, the latest data that i had showed a greater participation from these.
here's the bottom line, if the governor sends a letter termination for cause and he is not able to do that as someone who was a medicaid provider in texas when i was in practice, you understand that you have to play by the rules. if you violate the rules, the state may very well terminate any relationship with you. neil: we will watch very closely. easier said than done. he. >> services that planned parenthood provided. issue to basically stop those
funds. >> you just cut off state funding. easier if it was just a state-funded program. in the state of texas, cut off planned parenthood. what happened was the federal government told funding from that group. now it is fully funded by that state. neil: medicaid funding. if you are going to do this. charlie, you talk to a lot of campaign donors. whatever is moral merits. having democrats play. and then that it hurts them. charlie: i think that it feel suicidal if it hurts them. a pro-choice republican. that video was so, that video where the woman was talking
about body parts sending out how they cultivate fetuses. let's be clear here. how they warehouse fetuses for body parts and stuff that can be sold on the essentially, on the market. it is so sick as you think about it. here is the other reason why republican moderates have a problem with it. planned parenthood for lack of a better word is in addendum of a democratic party. they lobby a lot. they provide about of money to democratic candidates. the notion that they are funding and arm or any state government is funding an arm of the democratic hardy has even these moderate republicans who are nominally pro-life, many of them pro-choice wanting them to be the funded. >> one of the arguments in favor of planned parenthood is that they provide these valuable
services across the country to women. to my point, in the texas letter written about this very decision, they point out to be thousands of alternate providers in the state. std, birth control, cancer screenings and the like. it is something that you will hear more and more. >> the arm of the democratic party. neil: i am surprised that people are polled on this. charlie: it is clearly -- neil: just ignore it. charlie: well, they do. dagen: it is hard to make an argument in favor of planned parenthood when you have watched those videos.
>> then all of a sudden, we try to neuter it. >> listen, just running a transcript of what they were saying. i am pro-choice. when i hear that, it makes my blood oil. >> pro-choice, pro- lifers here. thank you. thank you very much. and i'll annoy, not so much. that is where you want a lot of money. you will not be getting any money. maybe for a long, long time. look up in the sky and pray. ♪
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neil: this airbag thing is much bigger than we first expected. a recall is being expanded well beyond the 11 million vehicles recently cited. those that prematurely exploded or not exploded at all. 19 million vehicles affecting no fewer than 11 auto manufacturers. that, to could be increased here. a much, much lighter recall. also keeping you posted on what is happening right now. the economic hit this way. all information about what happened in the past. the gdp numbers. information in that time. kevin says look forward right now. you are not going to like what you see.
kevin says it is right in front of you what is scary. explain. >> and a lot of the information coming out of the third order was extremely weak. we look at the factory orders, retail sales, durable goods all trending lower. one better piece of information coming out of the university. third-quarter gdp is less than 1%. the question is going forward, will it matter much in terms of a rebound. are we starting to trend lower. we still think that the thing will be weak in the fourth quarter. we will end up with two-two and a half% growth. neil: i hear you. not great, but okay. what do you think? >> i have to agree.
moderate growth grows, we're going at a good pace. some of the things that you factor in, the furthering of the global growth issue, whatever you can believe out of china their own decline are all factors that will affect the economy in the fourth quarter. >> you look at oil prices or take a peek at those. normally it is a good roxie for demand. it does not justify the price. $46 a barrel. a lot of folks are saying we could have a deflationary spiral. the feeling seems to be that we are heading into something that is not as good. what do you think? >> i have to agree. well-known for 50. south of 40.
as long as we remain in its trendline between 40 and 50, it is not that big of a deal. the fact that earnings are not growing. we do find ourselves in a spiral. the key here is can the markets help absorb a fed rating? if they do, what does it do to the economy and what does it do to our prospects? >> things are so bad. you will not be getting any money. scott martin said illinois is not the only state. the only one for the time being. lottery winners and their money. scott, how bad is this getting? >> well, it is pretty bad. i think a few hundred million dollars in old funds is
efficiently pretty bad. what is interesting, just a few days ago, the state came out and said either way, if you are owed more than $600 via a wind from the lottery, you'll have to wait to get paid on those. if you feel lucky, play the lottery. people are not too happy. neil: there is no guarantee that you will get paid when you get a lottery check. i am noticing what is going on with chicago. a very strict budget. at least by any volunteers standards. higher property related taxes. a huge gap that just gets more. how bad do you think that this gets? >> i am pretty scared.
i dead rodent control to another scare tactic they have thrown out. the city has a lot of traps in it. i tell you, we are on the verge of a tax hike. the biggest in the city's history. we have the highest with regards to any major city in the country. the state income tax back in 2011. it was just rolled back. more taxes, more revenue for the states. less money to pay out and use for its citizens. neil: isn't oprah winfrey originally from chicago? that stock is up close to 100%. i think oprah should come out and say she's taking a stake in illinois debt. >> that would be great. as long as she does not use all
neil: i do not know what your views are on walmart. sometimes you cannot land the company for looking over its shoulder. there was an and the investigation about walmart trying to buy off and i a federation in the mexican market. the biggest baddest retailer on the block. it does remind you of other times people have gone after walmart.
terry willis has her input. gerri: absolutely right. walmart paid $24 million to local officials. paying off for environmental concerns. all kinds of things. a grand jury in virginia. did not happen. these documents. the "new york times." an editor from the times quoted in that story. has not apologized. >> they said, we're looking we are looking at how they did operations in india. shifting the story and the attention. you have to wonder, if walmart cannot get out of its weight even when they say they can. gerri: i was so astonished by
this story. they do not mention anything from that story. it was also on last week's news. the problems the company is having with operations right now. conservative stances and traditions. they imply that it is a very very bad a. >> the obvious in this case really shocked me. neil: oil prices started tumbling. where were the committee? looking into that unusual drop in energy prices. not there. not very balanced. >> i agree with you. i guess we can watch and see. this is a union that has been after walmart.
the democratic debates. they have not had anything to say either. >> it is amazing. keeping it up to date on these airbag recalls. it might be close to double. and maybe more than the 11 manufactured mentioned. guess what, we are on it next. ♪ why pause to take a pill when a moment spontaneously turns romantic? and why stop what you're doing to find a bathroom? with cialis for daily use, you don't have to plan around either. it's the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical
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iran apparently secured as part of the agreement, a post-sanction windfall on oil sales. the goal eventually on the part of iranian negotiators was to open up two million barrels a day. we're not there yet. but they are looking at half a million barrels a day. we're also told iran has asian african, european buyers already committed to the oil. 40 million oils of barrel stored at sea. i have no idea what that means but fortunately phil flynn does at cme. what it means to me, a lot more oil will hit the market and that is not environment i guess a lot of oil holders like, right? >> that is correct. you know, that is the mood of the market right now. we're very negative. now there are a lot of traders really with skepticism of some iranian claims about how much oil they can pump and how quickly they can do it in the short term but in the long run it could be major issue for oil markets that seems to be heavily
oversupplied. the other thing that is weighing not only on the oil market but the stock market and the mood of all the markets is the weak data out of china as well. couple this up with a slower global economic outlook, the possibility of more iranian oil in the market, it really overshadows some of the more bullish aspects of this market. for example, neil, you don't realize it, the demand for u.s. oil is the strongest it has been in five years. we use more oil in the month of september than we have in five years. that comes as we are seeing the most historic pullback in the energy sector probably in history. never before have we seen hundreds of billions of dollars of capital spending cuts in projects being shelved, but all of that doesn't matter today. the market today is focused on the negative mood on the market, slower demand from china, more oil from iran and that is really weighing on sentiment today. neil: you think bullish argument will win out despite the
softening signals, japan is latest, trumping all of that will demand that will eventually pick up and soak up all this oil out there? >> i agree. maybe not today. maybe not tomorrow, but i'm really scared, neil. i'm really concerned about our economy going forward. all these oil projects, we know we're going to need at some point in the future aren't going to be built. so we'll see some day where we're behind the curve. we're playing catch-up maybe for a decade like we did in 2000. i'm very concerned about the big picture, a lot of damage being done on production side. neil: real quickly, impact on us from the pump, what do you think? >> gasoline prices down 10 days in a row, neil, according to aaa. the national average is 22. we saw cash prices on gasoline fall apart because refinery came on line. good days ahead if you're a driver. that is good side. neil: you're so wicked smart at this energy stuff. thank you very much, phil flynn. >> thank you. neil: always explains it in a
way i can understand. that is tough because i don't understand much this guy is the same way when it comes to stocks. whole world says it looks like a basket case. charles payne is stepping back we're missing bullish underpinnings. what are they my friend? >> neil, after all the negativity we're hearing from three months we're not that far off all-time highs. we know starbucks, we know nike. we know the names, use them panned buy them. when you get past sort of craziness out there and wall street hijinks and that kind of stuff, if you buy great american brands you do pretty well. another thing going on, big wave of consolidation. big megamergers around the world, which point to the large industries and large businesses seeing potential up tick in demand, trying to prepare for it. neil: do you ever worry though charles, it doesn't take much to undo a lot of these guys, a slight up tick in rates, even
nominal one, carl icahn says it will do to the junk bond market. high yield market in general. can affect countries this side of stable, i mean barely doesn't take that much to undo the whole thing? >> i do worry there are things we don't see or things hard to quantify beneath the surface. we never know how strong things are, sort of old warren buffett, when the tide goes up you get to see what everybody truly looks like. i don't want to make it too visual like he always does always looking at warren buffett in a bathing suit. but having said that i do wonder why, 25 basis points. let's ticket up. i'm worried the way transportation stocks act. if you're sitting there about things to worry about, behavior of the federal reserve is at the top of the list. neil: all the deals delayed and postponed, they're now back on radar again. too many of them or will they
get hoodwinked or what? >> no. big major deals in terms of the corporate side budweiser sabmiller, if regulators let it go through that's fine. coors would be attractive. samuel adams that ac, and dell that will probably go through like western digital. $77 million of semiconductor mergers. sandisk at top of the list. micron acting pretty interesting. bottom line all the deals probably go through. the fact the idea the fed may start to raise rates will actually expedite some deals. we'll see maybe a large wave of new deal-making. neil: argue same thing with housing, people sitting on the fence. charles payne. >> thanks a lot, neil. neil: texas is trying to shut down planned parenthood in the state, defunding medicaid proceeds used to support planned
parenthood in texas. we already have a response. what is happening today in texas should be a national scandal. it is completely outrageous texas individuals are using thoroughly discredited fraudulent videos to cut women off health care and including canner screenings, hiv and birth control. the claims are completely false. i if memory serves me right, some videos were called into question, whether they might have been lumped and edited together. the maker said yes he did so to keep it under three hours. so after that he said, go to my site, see the videos in their entirety which people did. apparently not this person, the executive vice president of planned parenthood federation of america, saying what texas is doing and what other states by extension similarly doing is wrong. we'll have more after this. es firms? or 13,000 financial advisors who say thank you? it's why edward jones is the big company
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♪ ♪ ♪ (singing) you wouldn't haul a load without checking your clearance. so why would you invest without checking brokercheck? check your broker with brokercheck. >> i'm connell mcshane back here with your fox business brief. two quick topics to brief you on. one would be drones. new regulations for drone requiring registration for all unmanned aircraft with exception of toys not a big safety risk. but all drones will have to be regulated and registered. regulators struggling to keep up with more people flying the drones. so they're rushing to get more rules in.
homebuilders are optimistic. we that out today. national homebuilders association marketing index with a ratings of 64. which is quite good. anything above 50 that builders are generally positive on conditions. index has been positive since middle of last year. it has run up to levels we haven't seen since the bursting of housing bubble. we'll see back in october. 105.67. year later it was 31 the more kos to -- "coast to coast" after this.
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neil: weight watchers might be all about getting thin but its stock fat and happy today. it doubled in size, that is the stock, on news that oprah winfrey has a stake in the company. that stake when first announced it was 25 or $30 million. she doubled her money in a day. don't you hate it when obscenely rich people get richer in the course of a day? that is the oprah effect. supporting lifestyle changes and healthy message that she says weight watchers espouses. she believes in it. we don't know whether she is going to do commercials for them. she will be on the board as she should. in one fell swoop she becomes one of the major shareholders. weight watchers doubling in size today. amazon getting tough on those that are giving fake reviews. 1,000 sellers to the point often times saying absolutely awful things about products or
that the company says are unfair, could apply to positive things said on behalf of one company that is really just trying to gun the system to get you to buy stuff. heather hanson defends amazon. nick fortuna says amazon doesn't have a case. why doesn't it have a case nick? >> amazon is suing people because they don't like the fact that they're giving opinions. the opinions of these individual reviewers aren't necessarily actionable. they're legal to review products. for a company to pay a product reviewer for its opinion, there is nothing wrong with that. there is nothing illegal about that. neil: obviously though, you wonder do they pay them? >> look, consumer reports gets paid to review products. it is time that they have to put into it. they're getting professional opinion from a reviewer who does this on regular basis. amazon is picking on the lowest people on the totem pole. neil: heather, he raises issue you can maybe help me with. if i have a legitimate beef with
product at amazon, how will i escape being fingered by amazon something i felt truly the case? >> that is the reason amazon is trying to find actual names behind the ip addresses to sue the right people. truth is they're become paid to write reviews. they're signing on amazon, when you sign on a contract, that says you're not being paid to write reviews and -- neil: but isn't the review, paid to write a certain review or just a review? >> either way i think there is probably a question. there is definitely paid to write a certain review. it takes away a free speech argument. it's a breach of contract. neil: how would you distinguish defend that, distinguish between that of someone of his or her own volition writing a opinion? >> amazon filed a complaint against 1100 individuals, they only found two or three weren't writing reviews. all other people presumably were writing reviews.
amazon doesn't police consumer review. if i write a bad review of product because i'm mad at the company because of some other policy that is not objective review. neil: to the point, could have chilling effect, right? if you have something critical this is company that sues people for writing something negative. >> they do police reviews. they have had over 100 million reviews since they started. they have a 100 million reviews. they're looking -- neil: how do they know to parse out though? heather, go ahead. >> here they know as a result of a sting. they actually tried to solicit people to post these reviews and they were able to get people to do so. you tell me what to write. i won't even buy the product. you tell me what to write, i will write the review. they have a brand here. part of that brand is about credibility. everyone wants to protect credibility especially something that allows you to make money. this is valuable asset for amazon. >> neil, it is hypocritical to
amazon to criticize these people. it gets reviews free. their team isn't nearly big enough to look at all consumer reviews that are out there. basically, no, i'm sorry heather but i think that they really, picking on a few people to scare people off. the last lawsuit they filed against a legitimate company, is company ended up folding because they couldn't defend the lawsuit >> they were selling reviews. that is not legitimate company. >> people get paid $5 to do a product review. the companies should go to independent people and get a objective review. neil: paying someone to review something could at least infer some sort of a connection, right? >> but if people are doing this for a living -- neil: i hear you. >> you're signing a contract. when you sign on you're signing a contract saying that you're giving an honest review. it is simple breach of contract. this is being filed in washington because washington state has very, very strict consumer protection laws.
this is to protect consumer from false reviews. if i'm buying a book because i think it is wonderful and all the reviews are lies. that is certainly a violation of consumer protection laws. most importantly it's a breach of contract. it is simple breach of contract law. >> it is not a law if you don't agree with the opinion. neil: you both raised very good points. i have no idea where i stand on this issue. when i listen to nick, that is very good point. i listen to heather, that is very good point. it approvals you're both good lawyers. >> thank you, neil. neil: everyone says inflation is not a problem. have you looked at medicare and your premiums? i mean, there's inflation, trust me, big inflation. the hikes from hell about to hit you hard. at mfs investment management we believe active management can protect capital long term. active management can tap global insights.
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neil: you already know if you're getting social security you're not looking for a raise next year. more bad news what could be worses you will have to absorb a double-digit hike for your premiums. betsy mccaughey is here. >> there is no cost of living increase for social security but health care costs are rising. so medicare part b program, when you go to the doctor's office, needs more money. they want to raise medicare part b premiums. the hitch is, that about 70% of people who are on medicare part b, get their premium check deducted automatically from their social security. they get a net social security check. in order to avoid a cut to social security, they will not pay any increase.
the entire medicare part b increase is being put on the soldiers of 30% of people who don't get it automatically deducted from social security. that is clearly unfair. and that is why this is such a big hike for them. neil: would a quick fix, get a hike from social security so you dodge this. >> the quick fix, go into general revenue to pay for increase for those who can't afford it. instead the democrats, and republicans in congress refuse to find any place else in the federal budget they can cut. not one gravy train they can stop in order to help these seniors. that is what is really outrageous. neil: betsy, how much is the result of obamacare itself or is this separate -- >> really isn't a result of obamacare. neil: okay. >> but here's what individuals can do. if you're close to that age where you were going to sign up for social security, you should sign up now, get your november and december check, you will be home scot-free. if you're not close to at that
age, think again, you might lose money in the long run. that is quick fix for people who were going to sign up in january or february anyway, betsy, they had to see this train wreck coming? >> months and months ago. neil: it was telegraphed months ago. >> a stupid way to write the law, health care spending increases faster than general inflation. this will happen again and again. they have got to fix it. neil: do you get a sense there are other problems with medicare coming down the pike, including adjustments that we move out of programs and this could be preview to coming attractions? >> you bet. neil: you will not really like what's coming? >> you bet. as you mentioned before, over half of obamacare is paid for with cuts to medicare. many of them simply are not going to fly. they will have to go back and adjust them. neil: incredible. thank you very much, betsy mccaughey. oprah winfrey, i don't know where you are but seeing your
money is like gold. you took a stake in weight watchers. doubled the stock. i told you what you could do in illinois, your own chicago haunt, start buying debt. improve things. like to put onus on you, do something bigger, buy a stake in medicare and our deficit and our debt. you seem to be only liberal that i know of who is getting stuff done making money hand over fist. to chair, oprah. more after this. moves the world forward. invest with those who see the world as unstoppable. who have the curiosity to look beyond the expected and the conviction to be in it for the long term. oppenheimerfunds believes that's the right way to invest... ...in this big, bold, beautiful world.
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new you'll need the right it infrastructure. from a partner who knows how to make your enterprise more agile, borderless and secure. hp helps business move on all the possibilities of today. and stay ready for everything that is still to come. neil: all right. welcome back, everybody. it is a busy two hours. update you on one joe biden he is very close to entering presidential contest. he is not in rush to do so but that it might be this weekend might not, but he is going to be a presidential candidate. we'll see. texas is the latest state to say no to planned parenthood working through medicaid to defund the controversial agency. planned parenthood already shot back saying this is political gamesmanship.
there is takata, big airbag recall gone well beyond 11 million vehicles originally thought to be affected. more than 19, and more than a dozen or so auto manufacturers. in the latest list, good luck finding one not impacted one way or the other from the airbags. good news to tell you about if you're oprah winfrey or if you have hope talk show hosts know what they're doing when it comes to investing. she clearly does. she took an interest in weight watchers. that is all it took. after that she establish ad 5% stake. the stock has essentially doubled today. oprah is now about $65 million richer on the day. that is not too shabby. fat chance, get it? fat chance any other talk show host could do as well. oprah rules the world. and does in very thin trish regan know it? bothers me deeply. go ahead. trish: neil, turning into an activist.
you heard neil say, we're hearing a lot about it. joe biden will announce whether or not he will make a run for the white house any day now. what could this mean for hillary clinton and, is joe really going to take the leap? i am trish regan. welcome, everyone, to "the intelligence report." fox news says a decision is on the heels of tuesday's debate. many believes hillary's strong performance closed the door. the benghazi testimony this week may swing that door right back open again. joining me with intel on this story, democratic strategist matt lipman and former massachusetts senator scott brown. matt, you're talking to all the dems out there, what are they