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tv   After the Bell  FOX Business  November 2, 2015 4:00pm-5:01pm EST

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making their demands known when it comes to future presidential debates. bret baier, moderator of fox news debate back in august, will give us his take on legitimacy of those demands. david: what he thinks is going on. government spent $43 million building a gas station in afghanistan, just one. a huge number especially when it was only supposed to cost 1% of that. [closing bell rings] melissa: how is that possible? david: how many other projects are like that out there? melissa: economic data on china, we're heading positive for the year. you heard them. this is where we end the day up 165 points on the dow. s&p up by 1.2%. the nasdaq, biggest gainer on percentage basis. david. david: here is everything you have to know right now. hundreds of protesters mobbing the chicago mercantile exchange, blocking entrances to buildings demanding levying new taxes on
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trades to illinois's budget shortfall which is substantial. several arrests have been made. jeff flock joins us live from the streets with an update. looks kind of quiet there now, jeff? reporter: all over including shouting, dave and melissa. there was a lot of shouting. we have pictures to show you how crazy it got. we were expecting protest. it was nothing this size but entrance to historic chicago board of trade building were shut down. nobody could get in or out. important to note trading continued. nothing happened on inside. it was a day and, as you report, protesters would like to see a tax on these trades that take place here. there is currently not a specific financial tax on the individual trades. they would like a dollar or perhaps $2 a trade. that by all accounts would put people out of business. what about a nickel?
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what about a dime on each trade? a lot of people ask the question as well. because, chicago and illinois is in a severe budget hole. maybe it wasn't traders that caused it. they have a lot of money they need. perhaps that is one source for it. inside traders might have different perspective. david? david: by the way, older gentleman you saw in the video we just ran, appeared to be bill ayres. we're not sure it is. we're ascertaining whether or not that is bill ayres, old friend of barack obama. we'll keep you informed. jeff flock, thank you for reporting. appreciate it. melissa: we're joined by cme trader todd colvin for reaction what he has been seeing outside of the cme today. what are your thoughts? >> i'm totally for any american who wants to gather and protest peacefully and discuss ways they can make a change in society. but when you take people take day off work to protest those
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who are working, closing off trying to disturb their business makes no sense to me. this whole protest could be done more differently and smoother pointing a finger at minority of traders that is the global industry of electronic trading in chicago. this could have taken place in any city in the united states. yet they chose chicago because of historical ties to open outcry. melissa: they're talking about a tax on trades to cover a budget shortfall. easy to sell these things as we take from the rich and give to the poor. what is reality of who pays for a tax like this? >> reality is this. if you tax cme which will take the burden of their tax, they will lift their headquarters out of chicago and take it somewhere else. that is what chicago and cme do not need, another major corporation fleeing because of tax problems. melissa: todd, thank you so much. appreciate it. david?
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david: for more reaction, moody's chief economist john lonski and "barron's" jack hough. should the city be worried about this? rahm emanuel, just got $543 million tax increase on property taxes. that is not even though he got that, that is nowhere near the $20 billion that will be needed to pay off those unfunded liabilities for pensions. >> right now, setting aside puerto rico which is territory, illinois and city of chicago have the weakest public finances in the united states among municipalityies and states. what is very worrisome about the current situation, they have problems and economic growth is still pretty darn good. what will happen to their finances once that recession finally occurs a couple years from now? david: jack, i'm wondering how many companies pull out of chicago because of economic problems? >> that is big concern.
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first if you want to protest tax law, last time i checked commodity traders don't make tax law. go to the capitol to make your protest. taking business like this one of the most mobile you can imagine to put a tax has appearance of rich people, put a tax on transactions, that business will leave quickly and take a lot of jobs. david: this isn't fault -- john? >> this is not fault of traders but fault of politicians that made promises to pensions to state workers they couldn't fulfill. david: promises they knew they couldn't fill. >> this pension, i would be favor of outlawing practice. so easy for politicians to make promises today that make crowds cheer. then use fancy math, not provide proper funding and bill doesn't come due until they're out of office. david: only solution, never get $20 billion in unfunded liabilities go bankrupt. and plead with the bankruptcy court to lower those pensions. that is the only thing that will
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negate contracts that were made. >> holders of state and local government bonds from illinois will be bear this burden. david: that is what happens in bankruptcy. >> that's why you have to put pressure on politicians not to promise more than they can deliver. david: it is a little late for that, isn't it, jack? >> i think so, thank you, john lonski, jack hough, good to see you both. melissa: the 20 trillion-dollar man. president obama signing new budget deal into law. the national debt will nearly double during the president's eight years in office, nearly double. fox business's peter barnes is the a the white house with the latest on this gigantic bill. peter? reporter: hey, melissa. actually a little closer to about 19.5 trillion, but, round it up to 20. what the president signed today, people seem to be forgetting this, this is two-year budget deal will spend $8 trillion for fiscal 2016 and 2017.
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that includes a trillion 1/2 dollars of increase on the national debt, through march of 2017. punting the budget battles to the next congress and next president. >> by locking in two years of funding, it should finally free us from the cycle of shutdown threats and last-minute fixes. it allows us to therefore plan for the future. reporter: when the president took office in january 2009, the national debt was $10.6 trillion. it was 18.1 trillion in march when the treasury hit debt ceiling. it is expected to rise to 19.6 trillion by march 2017 when the debt ceiling will have to be raised again. analysts point out that the national debt also doubled under president bush from 5 trillion to 10 trillion. obviously post-9/11 and with the wars in iraq and afghanistan
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driving those, in part driving those higher deficits. melissa, back to you. melissa: your point is well-taken. everyone overspent too much. we all need to stop. that is my takeaway from your report, peter. thank you so much. david. david: from national to local happening all over. gop candidates laying down new ground rules for the next republican debate with the collective push to give campaigns a little more control and rnc a little less control after last week's widely criticized event on cnbc. here with details, carl cameron, live from d.c. a little bit of a slap-down to the head of the rnc? >> oh, sure. this is first any major party ever tried to exert itself and exert control over debate process. it began after 2012, when republicans decided some 25 debates was not necessarily in their best interests. priebus and reince priebus, chairman of the republican national committee was trying to take over control of it.
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he kind of lost it last night. because of time constraints candidates said fox business network debate next week in milwaukee will have exemption of sorts from questions and demands gop candidates are putting forward. they have pretty much made it clear that washington's super lawyer, ben ginsburg, a master debate negotiator and veteran of multiple presidential campaigns is working with them. reince priebus and rnc was not welcome at meeting last night. they would like them to keep out of the process to directly negotiate with the broadcasters. here is what ben ginsburg had to say. >> what campaigns want more accountability and transparency in the debate process. they want information well in advance of the debate to be able to make decisions whether to participate or not. reporter: for that, that means essentially the campaigns want rnc out of the way so they can deal with things like lighting, the length of questions, whether
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they get opening statements or not. even such things as camera angles and their green rooms are part after 2 1/2 page letter of questions that all candidates and campaigns can send to the broadcasters and they want answers within 30 days of the actual event so they can make a determination if they want to go. all of this, reince priebus says is not him being put on the out with the candidates. he says he will be their chief arbiter. watch. >> there are 14 campaigns, it take as few people i guess to create a narrative but, no, the truth is, we're involved, we're in control. we're setting the calendar. in fact, if, what happened from last night goes forward, i think it is exactly where we want to be. reporter: bottom line the candidates want opening statements, closing statements, fixed times and fixed rules. information about each debate 30 days in advance to make a decision themselves because in
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where their view the rnc is go between and hasn't worked out for the candidates best interests. david: when he says we're in control he may be putting best face on it. carl cameron, thank you. melissa. melissa: bret baier ainge sore of "special report," you may remember he hosted the first presidential debate back in august. bret, thank you so much for joining us. i went through comments on things they wanted to change. i wanted to ask your opinion because some are interesting. undercard candidates want inclusion in main stage but of course they do but it is too big. why don't they split the field 14 randomly with two equal fields. there is something like that, the early debate is becoming a graveyard forgotten, and might benefit networks. if you split up candidates bringing in ratings you have more people watching both. what do you think about that one? >> we thought about it. we thought about it and dismissed it.
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because you do not have the top candidates on the same stage in that scenario. you have alternating thing where you draw them out of a hat and put one here and two over here. these two separate debates. then you don't have marco rubio standing next to jeb bush and having that moment that arguably changed the race. and you don't have the interchange with the top candidates together on the same stage. now it is bumpersome, melissa, to have 10 on the stage -- cumbersome. that is the challenge all these networks are dealing with. the undercard for what it is still gets anywhere from five to seven million viewers in that early debate. melissa: okay. that's good. very interesting perspective and i didn't know that you even considered that so that is very enlightening. let me ask you about their idea they want equal number of questions per candidate. what do you think about that? >> that's wonderful and ideal
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but, when you have a raucous 10 candidates, trying to clamor for all of the attention sometimes they are jumping in without a question. so then you are in real time, timing out how much time they're taking in an answer that they were never asked. equation is happening as you are hosting this debate. that is the real challenge to be fair to all candidates. melissa: in general, what do you think of idea of them putting together a list of grievances? on one hand is journalistic endeavor, shouldn't dictate terms. on the other hand they feel abused after the last debate. what do you think? >> listen it, was final straw for a lot of these candidates and they wanted to get together and show influence. i don't think they're all on same page. some candidates who went to the meeting and didn't, said, we don't want to be perceived as whiners. we don't want to be perceived as we can't handle hard questions. donald trump campaign is
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splitting off saying they're going to negotiate and be frontman on negotiating with these television networks. melissa: right. >> i think you have some splintering happening. overall they're trying to have influence. melissa: bret, thank you so much. we appreciate it. thanks for stopping by. >> okay. melissa: be sure to tune in fox business debate, tuesday, november 10th, 6:00 p.m. and 9:00 p.m. reason time. looking forward to it. david: using old rules for that. colossal waste of government funds, $43 million to build a single gas station in afghanistan. your tax dollars at work. melissa: double-standard for carly fiorina. criticism of former ceo's status as government outsider. funny how donald trump and ben carson are being praised for the same thing. david: plus a health care challenge at chill pole tee. you might want -- chipolte, you might want to wait a little while before grabbing your next burrito.
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comcast business. built for business. david: the united states government spending taxpayer money to the tune of $43 million on one single gas station in afghanistan. this is 140 times more than it should have cost. department of defense unwilling to explain why the bad project was so expensive. joining me kt mcfarland, national security analyst. bad enough as it is looking at broad strokes of this thing but when you analyze details, there was 30 million in overhead, $30 million in everyahead. the employees who worked on project no longer employed. how many programs, how many examples of boondoggles are there like this at pentagon? >> so many it would make your head spin. the dirt secret the pentagon has
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not had an audit in 20 years. david: why? >> 20 years! the excuse is always given, well our computers systems are different. we have one system for one branch of the military. a lot of the accounting systems we've had go back to the 1970s. they're old, they're obsolete. every time, congressman dates every federal agency needs to be audited every year. every year the pentagon has excuse. david: there is an inspector general. it is inspector general's report that focused on this project in particular. but $43 million. it should have cost 500,000 if it should have been done at all. >> here is why there is bigger problem than what you're talking about. they're not sure where the money went in all the programs. not just procurement. biggest defense is procurement. how much the toilet seat really costs, how much the hammer really costs, how much the bass station really costs. the other thing -- david: i wonder how many
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projects, 30 million-dollar overhead to me sounds like pure core are upion. somebody in afghanistan was making a deal with one of the contractors or several contractors who have gone missing, who can no longer to be found. will we be a i believe to track this down? will congress find people to put them up in front of the witness stand? >> you will not because of accounting abnormalities in the whole system. every time congress said, go fix it, pentagon. you have to start from very beginning. a lot of data is corrupted. add on top of that, is where we have been doing business for the last 10 years, right? david: right. >> afghanistan, iraq -- david: where places that corruption is the norm. >> is the norm. and lack of transparency. i met with the foreign ministry of afghanistan and he said america is not giving them enough aid. where is the transparency?
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there is reports that they went to build statues to political leaders. he was offended united states would want to know where the money was. david: you mention details, 20 years without an audit. this is what happens. >> 8.5 trillion taxpayers money. you have to figure out how to audit this. david: melissa? melissa: wreckage of the cargo ship el faro has been found 15,000 feet below sea level. it sank during hurricane joaquin with 33 people on board. number of migrants entering europe by sea in october was roughly the same as total number of all of 2014. last month saw a record 218,000 people immigrate to europe. the largest group is from syria, followed by afghanistan. baseball royalty. the kansas city royals finishing off the mets in extra innings,
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winning first world series in 33 years. congrats, kansas city. david: they were unbeatable. round three for americans on obamacare. why the administration is setting very low expectations of enrollment growth this time around. amazon is getting a head start. the black friday push already on the second of november? we'll give you details coming up. ♪
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missing badly. missing badly at 14.22 million. carl icahn is calling it to be split into three public companies in the earnings core. aig is looking at significant staff reductions next year. avis budget group, car rental company, earnings coming in at 1.9a share. that misses estimates of $2.02. estimate was 2.billion. by all accounts earnings report, third quarter report being just a little flat. you can see that in after-hours reacting to that down, some 10, maybe 11% in extended trading. finally fitbit, wearable exercise devices. some people say this is one-trick pony. coming in at 24 cents adjusted for on estimate of 10 cents. so that's nice beat. revenue too coming in at
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409.3 million, easily beating estimate of 352 million. revenue nearly tripling for this company. but of course all-important holiday season straight ahead and we're seeing some loss in extended trading on fitbit as well. a lot of questions on this company. does it only have as its one device it is relying on. aa lot of competition in this category although some say there is lots of room for everybody in the fitness watch. we have apple watch not doing that great. fitbit nearly tripling revenue. for that their stock goes down. tough environment. melissa: ashley, thank you so much. >> sure. david: mocked for her smile, firing back, carly fiorina taking on her critics. is she being held to a different standard than hillary clinton? melissa: in latest on that plane crash in egypt. isis says, that they took it down. does this mark a new turn in the
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david: russian plane crash in egypt is raising a lot more questions than answers. militants are posting images of the crash, egyptian and russian authorities say it es premature to call this isis attack. no one has come up with an answer what went wrong. with his take, tom sullivan, he is a pilot, hoist of "the tom sullivan show." makes it clear from the debris
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field this exflowedded in the air somehow. what would have caused that? has that ever happened before outside after missile attack? >> yes. you've had, listen, you can have a breakup. you could have mechanical breakup. everybody is talking about the fact this particular plane did have part, had a tail strike, back in 2001. but that tail strike -- david: what is a tail strike? >> tail strike is when you take up and land at angle and tail is up up or down and you have tail damaged. you can repair those but can affect structure of the plane. they have to go through very extensive main r maintenance check. and every five and six year they look at all that, metal fatigue and corrosion, david, if there was a problem, they should have spotted it.
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unless you have got shoddy maintenance on this particular plane. otherwise planes don't just fall out of the air at 33,000 feet. david: they have two black boxes, tom. they have the flight data box and voice recorder f there was a strike of any kind or if the plane exploded in midair would that be reflected in the voice recorder? >> yes. you would hear the explosion and everything would go silent from there. so they would know. but when you talk to the people that keep track of terrorists they say that isis doesn't have anything that can get up to 30 somehow feet. david: right. >> and shoulder-fired missiles go up maybe 15,000 feet max. david: report that perhaps they planted something on the plane? >> could be. either structural failure or something, a terrorist bomb was on board because, otherwise, this doesn't make any sense. these planes just don't fall out of the sky. david: we'll hear what we can hear from the black boxes. at least we have them. some sullivan thank you very much. >> you bet. david: melissa. melissa: carly fiorina firing
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back at the women of "the view" who mocked their her face at recent show. here is what they said. >> kicked off her thing saying people tell me i didn't smile enough during the last debate. she looked demented. she did not, not downturn one time. >> it like halloween masker. i love that. >> carly fiorina? can you imagine? melissa: fiorina today challenged women to say, that to her face. >> liberals and unfortunately that includes liberal women when they don't like the message they attack messenger. so my message to the ladies of the view, man-up. melissa: to their credit man-up they are. fiorina on the show on friday. is fiorina on to something? i don't hear them mocking hillary clinton's appearance like that? ron christie, special assistant to george w. bush. hadley heath manning of independent women's forum. democratic strategist and fox news contributor julie row beginsski. i will start with you.
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you and i are together on "outnumbered" all the time. similar format to the view around the circle. i'm trying to imagine, how awkward it is going to be on friday. how do you invite someone to the couch and say something like that, sit there in the table in their case? how are they even going to start that conversation? >> i don't know, if people realize, on "outnumbered" couch, that is tight couch. there is not much room for error. this is not just limited to democratic or republican or conservative or liberal women. women are usually harsh on each other. this drives me insane. no room especially trashing each other's looks. i hate when women do this to each other. i wish women of "the view" hadn't done that they need to cut women a break and not go off. that is terrible. melissa: i agree. two points, hadley, from "the view," they were all over donald trump when he took shots at carly fiorina's looks. they don't take swipes, no one does at hillary clinton's appearance. we all know that is not
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appropriate. that is not, she is not running based on her appearance. not trying to be supermodel. she is trying to be president. talking about someone's appearance is just totally inappropriate. >> i'm, i agree with you. i'm sure there is a lot of people who would be critical of hillary clinton's appearance but i don't think the talk show hosts on the view are among those. they're being critical of being miss fiorina, various reasons in part because they disagree with her. easy to be critical of someone who disagree. quote margaret thatcher, if someone attack you personally because they don't have political argument to back up what they're saying. melissa: ron, that's true. another woman coming out against carly fiorina, meg whitman. current ceo of hewlett-packard. blasted former ceo carly fiorina, does not have enough experience being president because she hasn't worked in government. that is interesting. if you look at meg whitman and carly fiorina, two people that ran in 2010 in california. neither one.
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they got in each other's face a lot. voters got confused who is who. both republican tech ceos. they look nothing alike but to voter not terribly engaged it can be confusing. i mean, what do you think of her taking a shot at carly? does it seem legitimate to you? >> i think it is unfortunate. you're violating ronald reagan's 11th commandment not to speak ill of another republican. if they were running same race i can understand. putting your record up against the opponent's, here is how i draw contrast. meg whitman, is only trying to draw contrast to bring herself into the equation. let me also say, i agree with my two colleagues, melissa, very interesting liberals love taking potshot at republican women and african-american conservatives think they can get away with it. you never see republicans doing same thing for democrats. i glad you called out double-standard. >> people calling up on her kankles.
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calling her shillary. melissa: not on tv. >> yes on tv for sure. what hillary should come out condemn women of "the view." there is no room for women or anybody to be criticizing other people's looks. i think it is reprehensible. you and i get it all the time from people who watch us. it is not right. you want to criticize somebody's views, that is great. don't criticize their looks, that is something they don't have anything much to do with. i wish hillary and women all across the country come out to condemn the behavior. melissa: don't hold regular people not taking shot at other people's appearance. that is human nature. when you hold a seat on national show where you have millions of viewers, you're held to more thoughtful standard where you're supposed to be adding to debate about the issues, rather than hammering somebody on just their appearance, when it isn't a beauty contest. all right, guys, thanks so much. david. david: good stuff. meanwhile look what is happening. world champions returning home.
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these are the kansas city royals. their family -- of course they won world championship in new york last night after evenly five games out of the world series. four out of seven, they got it in just five games. world series champions are now -- melissa: look at that little guy. david: there they are, holding the trophy up high for the residents. this city is going berzerk. they will enjoy spending time with their heroes, as they arrive back from new york. 43 chipolte stores closing down. e.coli striking company stores in oregon and washington of a affecting 22 people. chipolte is keeping the stores closed until state officials give the green light to open. fox news's dan springer standing by in seat tell how chipolte is handling this outbreak. reporter: they are doing what they can but at the same time not admitting guilt, voluntary closing 34 restaurants in
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washington and oregon state before health officials confirmed the source of e.coli. so far evidence is pointing to them. all but two people who gotten six so far ate at chipolte mex grand grill between october 2and november. coughing washington and down to the portland area. food samples were taken to the fda lab for testing. results are back later this week. health officials are trying to figure out exactly how many people got sick and what strain of e.coli they're dealing with. >> it is impossible to say whether the risk is ongoing. we certainly expect the people can still become i'll even if the risk is no longer present because the incubation period can be up to 10 days. reporter: chipolte which is based in denver colorado, has been in business for 22 years. it has grown to 1500 restaurants. their slogan is is, food with integrity. the e.coli outbreak was
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announced saturday. first thing this morning investors sold the stock like crazy. it came up with a comeback. chipolte is cooperating with health officials as they should. they released a statement, we're working with health department officials to determine the cause of the issue. we offer our deepest sympathies to those that have been affected by the situation. fortunately no one has died. eight people have been hospitalized. the number of people who are sickened will probably go up. we're expecting an update later on today. david? david: dan springer from seattle, thank you very much. you went to chipolte store. customers seemed to be there? melissa: let me be clear, right across the street from our network. it was still jammed. there was a camera crew from liz claman's show talking about it. most people were surprised. nobody left. the line is still out the door. david: when you want a burrito you got to have a burrito. melissa: any place is a crapshoot. david: particularly around here. melissa: all right.
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best jobs may be worth waiting for, even staying unemployed for. we'll bring you more on that new study coming up. rare discount on apple watch. the sale may be good for your wallet but what does it say about the health of that product, the apple watch? we'll be right back. ♪ 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. but it is not the device mobithat is mobile, it is you.
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melissa: the saying something is better than nothing may not apply to jobs. new ucla-princeton study finds settling for a job just for sake of being employed might hurt future job prospects eventually landing dream job you're thinking about. john lonski, moody's chief economist. jack hough is here. i heard this one on the way in the car. i couldn't believe it. this was found and published by national economic research. if they took a stop gap job, less than level they were applying for less than likely
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getting good job later than sitting home not working. do you buy this. >> i buy it. important lesson if you have job where your experience is not relevant to the job you're applying for, don't mention it. melissa: don't mention it? isn't that lying? >> i don't think it is lying. i think -- melissa: are you working right now and you say no? that's lying. >> you don't want to lie, right but -- i think you don't necessarily have to list it on your resume'. your resume' is advertisement for you. if you have job just paying bills while waiting to take your career back up, you will eventually have to is disclose that on many cancation, not resume'. melissa: i don't like message about this. i am someone believes every job has value. you should not be sitting home not earning a paycheck and relying on other people or loans or credit card. we can all get a job. i worked as hostess and waitress. i worked at minimum wage. i would do that out of work with something else. this tells you that the is wrong decision. i hate that! >> that is unfair. that is the way world operates.
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what you want to do, is maximize your chances of getting a new job and not mention anything that has nothing to do with the job you're applying for. >> tells me, i had opposite reaction to you, when i saw that, that fits perfectly what i see goes on. melissa: really? >> tells me companies really need some more thought and maybe better training how they hire people. just because you lost your job at certain level and had to take another job to pay the bills, it doesn't make you somehow a bad person. it doesn't make you someone who is not capable of picking up where you left off. companies need to get better figuring that off. melissa: i want somebody industry just taking care of their family and pay the bills ands pride of paycheck in any type? >> you're exactly right. how human resources view positions. tells us why the labor force participation rate is so low. people lose the job. they can't find something comparable to where they were previously. why work at all.
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>> tells me why the economy is not growing faster. people afraid to lose that job. >> no threat of faster wage inflation in this type of labor market. melissa: that's true. david? david: apple not known for making deals is offering a new discount for the apple watch. for details deirdre bolton joins us. that is good for consumers, deirdre but maybe not for apple. >> if this is on your christmas list, send your families and friends. you're right, the company not known for discount. you know what? they're doing it. apple watch sport and apple watch, a $50 coupon if you like, off if you buy a new iphone. it is surprising. but when you and i talked about apple's results, we noticed this is really weird. they didn't talk about the apple watch results, how many were sold. a lot of analysts in wall street community saying, you know he what? apple is pretty straightforward. maybe doesn't bode best for the product. best trying to get more of these
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devices on people's wrists. something else interesting as we head into the holiday season, david. believe it or not, men who are 65 years old, demographically the one who is spend most in apple's stores. this trumps any other age group. it trumps gender. so close to something like $900 per person. david: wow. >> men already on social security, buying for kids and grandkids. pure stats that is who is spending most. david: why are you looking at me talking about those old guys? i don't know. >> i am not looking at you. bail me out. david: deirdre, thank you very much. we'll see you at top of the hour for risk and reward. most men are good shoppers. anyway. not so affordable care act. obamacare is in critical condition. why consumers are bracing for sticker shock. more on that coming up. a fact. 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?
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it was geoffrey! it was jason. it could've been brenda.
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david: the affordable care act is making health care not so affordable. making it more expensive to stay insured. the law that was supposed to make health care more affordable seems to have opposite effect. the uninsured rather pay a penalty than get insurance. with me here, hadley heath manning, julie roginsky, john lonski. insurers costs are going up covering stuff they didn't use to cover and young and healthy are paying penalty. so not paying insurers. so costs will go up. >> they will go sky-high, that's for sure. recently we downgraded an insurance company because of its exposure to obama care. they are simply not able to get revenue they need of reimbursements from the government. so, health insurance premiums can only go in one direction and
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that is going to be sharply higher. david: hadley, these obama care exchanges are disaster. 10 of them are ready to close down, 10 out of 23. only 10 million people signed on for obamacare. nine million of those are just going in medicaid. that is the whole program really wasn't necessary. we should have put out the money to pay for those uninsured? >> well, you're right, that many of the consumer oriented plans and co-ops are about to fail. many announce they will close for 2016 coverage. in those exchanges, those plans many people receiving subsidies, tax credits for, what many people may not realize, in case of some middle income consumers subsidies and tax credits are not enough to offset increase in price, dramatic increase in price due to regulations what has to be in every health insurance plan should make us consider whether or not we're using right metrics to say the law was success. only 10 million people. david: by the president's own measure, president said could
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keep your health care plan, wouldn't cost you more money. costing us more money. millions of people lost their health care plan. we could have paid for the people ha were uninsured. that is what is happening now. nine out of the 10 million are just getting more money in medicaid which is completely subsidized by taxpayers. >> if you're endorsing medicare at all, my friend, come over to the cause. david: we changed entire health care system to the deficit of a lot of people who had good plans for what? >> this were a lot of us medicare for all for this very reason. if you're saying we should have insured people who didn't have insurance in the first place i absolutely agree with you. david: so are you saying obama care is failure? >> i am not saying. 10 million people have insurance. david: we changed the whole system just to insure those people. we could have pulled into our pockets and doled out money. >> i don't think insuring 10 million people have being access to health care -- david: john lonski, what expense? the expense we changed health care system for everybody, for 300 million people, many of whom lost plans that they liked even though the president said they wouldn't?
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>> hit the nail on the head. the government should have instituted this program in manner where would have minimized costs kept costs quite low. broken in over time. i think overly ambitious to start with. now premiums are going to be be surging this is to be a big issue in the upcoming presidential election. david: we lost our time. thank you, gang. appreciate it. good panel. melissa. melissa: better watch out, christmas music is coming to town and it is starting tonight. ♪
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. deirdre: ities the season to be jolly, starting in november your kids are still working their way through the halloween candy but you can start enjoying the tunes of christmas right now, david. david: we're talking about serious xm. they have their holiday music channel, and it's launching tonight at 5:00 p.m. in just 20 seconds from now. liz: i know but that's not the only one.
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we see the trees going up, you know -- it's like christmas starts now, the day after halloween. what happened to thanksgiving? my favorite holiday of the whole entire career, it's about family, it's about -- being together,. david: we can have both. >> that's fine. david: risk and reward starts now. >> all the big businesses, they have all these banks, everybody. tax the 1% and it will help pay for people that are in need, our veterans, our children. >> about that. >> well, i think we should help the 1% but a corporation is not necessarily the 1%. but if we tax them, if we tax the cme, put it on the dollar tax you're asking for, they're going to go to indiana. >> tax the rich at 90%, in the eisenhower years we taxed 90% and we had a great country, they have to pay more to have decent education, decent

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