tv Cavuto on Business FOX Business April 17, 2016 6:30am-7:01am EDT
anybody. >> john lay field, final word. >> i love pizza. >> thank you so much. >> they go hand in hand.e show. neil. now. all right. well all of the sudden fox business network interview that was about a lot more than business was suddenly about a lot more than just cable network. it went viral. students demand others off their desk. >> to have free public community college, it'll cost $62 billion. the u.s. government spent 6 # billion of dollars in 2014 just on financial aid programs. the money is there. >> what you're saying is you want to cut -- my hat's off to you -- >> we need to readjust it. >> fine, i agree with that. let's say we wipe down dfls
spend, now we're treading -- >> who is making that argument, neil? who is making that argument? >> i don't know, i'm just using an example. >> that'sth worst example. >> we can use better examples. >> i will let you talk, i promise. >> if we wipe that out, and you don't want to do that, i don't want to do that, we wiped it out. you know the government is still in the position of running in the red. so then what are we bragging on to get back to the things that you think are important? >> i shouldn't have to answer the question of how to handle the deficit that the government created. i'm not a government official. i wasn't elected into office to solve nese problems. i'm a tax paying citizen, a young person that is speaking opportunities and in a system that is unable to provide it, regardless of what the argument is and i say that this system of capitalism has proven itself ill legitimate and it cannot provide basic things like education, shelter, health care. we need to readjust how we view our society and someone has to
get on here and defend the rights for education. >> and on and on it went, the exchange on our fox business website as well as our fox news site, but to get to the point, how far should government go? i believe this is going to be the signature issue of this election. we want more government or less government. all i want to know is and what we're going to get into in this first part of the show. who is going to pay for all of that? enter charles payne, geri willis, zack, and adam. bulls and bears, charlie, i don't know where the hell charlie is. he's probably back, let's keep it that way. what do you think? >> you know, we know already that the progressive message has been free stuff free stuff free stuff, we always say how do you pay for it? one thing i'm seeing with them, they're fine tuning the message, well you pay for it through the e boles of capitalism and the
corporate balance sheet, the corporate income statement. and this has been a target for a long time. she talked about the billions, $52 billion, that has to come from somewhere. >> right. >> and it's really, it's really unfortunate that they don't make that particular leap or they see that part as being nefarious. words will generate to do all of these free things that society joes her and others. >> she never advocated she did think banks should pay more, very, very rich should pay more. bill gates and all of these. and that that will be -- i'm not sure to judge where money comes from, can we look at the money we're already spending? ironically the young woman is saying government failed us, but beneed more money from government to do right by us, what do you think? >> we're already paying her tab. i don't know if you noticed this or not, but in the president's
budget last year, these programs were already running at a deficit of $22 billion deficit. why? because of the pay as you earn program which forgives student debt. we're already making these payments, it's coming from tax payers without any kind of increase in taxes, it's just coming out of the general budget. what's more we know that 40 million of these kids are not -- pardon me, 40% of students with loans are not paying on those loans right now. so look, it's being squeeze out of the existing budget right now at some point, something's got to happen. something's got to give. >> adam, went back to again and again, this notion that other countries are much more generous than we are, i also point out that some of the same countries are in a world of hurt, greece or portugal or italy or spain or increasingly france that have promised cradle to grave alournss and comfort that now they're paying for.
so where does a liberal, for example, draw the line on government? >> well, it's worth pointing out that even in our country, even in my state of california, this used to be the policy. and there used to be -- >> now california is bad for the country. let's be honest. california is no longer part of america. make your point, i'm sorry. >> no, no, fair enough. and these are policies and they are possible. i think she was somewhat articulate in making that point. the question is, should we forgive debt? i happen to believe, generally, no, you borrow money, you should have to pay it back, but that doesn't mean we shouldn't have a policy conversation about what's important to us. where do we want to spend our money? >> i think you're right on that, one of the things i agreed was medicare and welcome to my life by the way, and my family, but having said that, and i want to read with you, i touched on it
and charles payne yesterday. this notion, do republicans, do conservatives, do wall streeters miss making a case when they dismiss their case? wall street, not you, my friend, but this argument, who are they to judge government handouts when they were the beneficiaries of the biggest of all handouts? in other words, is there a way to reach groups that right now are very, very angry? republicans by and large ignore them. >> there may be, to your point, yeah, everybody benefitted from the financial bailout of 2008, it does feel very much like 2008 if we were to say forgive these loans, but the notion of government has failed us, but we need more government, it's totally crazy. geri made the point, 7 million college debtors are in default. 93% of the student loan market is because of federal loan programs. so for you to say or somebody to say, hey, this is needing more government intervention is
crazy. if you want to find out where they're going to take the money, just look at the fat and sassy treasury department, which now has record revenues in its coughers, that's where they're going to go. >> that's where i completely disagree. i think again -- >> of course you do. >> you made a good point that you just budged, let's just say for the stake of argument that we're wasting our money on financial aid and this tald be far better spent paying for their education. now, i'm just saying, i don't know if that's the right approach, but i'm saying -- >> you know, and that's -- i'm agreeing with both of you in this respect, jared, i'm taking it up with you, before we start asking for more money, let's focus how we're spending the present money. >> record revenues coming in. obviously there's not a revenue issue then, right? >> and let's talk about how we're spending that education money. let me just give you a little example here, here's what's going on out there, mom and dad are paying for education and the
kids getting custom thrown omelette from the chef at school, standard of living of students is out of control. it's not right. it's going to the driving prices -- >> it's not only that, right? we look for the budge. i just use for an example, let's say we didn't spend the 600 plus billion. even with that, you'd be running at best, even, without risking going into a debt facility. that tells you something about the magnitude of the problem and she left off there entitlement programs, and republicans know better, they don't get specifics on entitlements themselves. so, how can we ever solve the problem if we just throw more money at the problem? >> we won't. i mean, i think that's the simple answer. and to your point, record amounts of money can always come in and we bring in 4 trillion, our government will spend five trillion. >> republicans are dumbfounded about the revenue coming in and they sure spent it. >> this is about an agreement
society that built on the idea of everyone's a victim. and it's a beautiful thing when you can actually kind of cry about being victims on the full stomach, you can't do that in most countries where people really are victims. you talked about republicans articulating a message. this is always one of the weak areas and i agree with that going back to the last election and the 47% comment. there's got to be a way to sort of educate people and a couple things, a, you have to realize where we are as a nation. we're not firing on all cylinders, this is the greatest and why? look at the foundation, figure out to plain somehow they can get involved. >> i feel like with charlie, we're not being contentious enough. i want to disagree, but i woulded to build on what you're saying. i don't think we're talking about being victims. i think we're talking about creating opportunities. then the question becomes, what's the best way to create opportunities? i don't think it's a terrible argument to have that's talking about how to get more young people educated. >> first of all, we were being
is 00% honest about this, adam, i joined the air force to go to college. and i understand none of my friends took any courses. i knew thousands of people didn't take advantage of $50 courses. i think to a large degree it's a farce. i don't think we're graduating high school students who are cape can believe of really, strong college curriculums. i think this does get back to the notion that something -- >> that i don't agree with. >> we're all victims and we'll blame capitalism and get the bad guys. >> opportunities are created -- >> health care spending, education spending, the entitlement program, the majority of the budget. sop we're doing what we can for the elderly, we're doing what we can for students. where does the spending stop? >> scott. >> if you're in college don't you love it when the government is getting more involved and handing out more money when a federal student loan programs comes out, you're going top drive up your cut. look at how the government has gotten involved in that market over the last several years and how college costs have skyrocketed hire than inflation.
there's your answer. >> there's 72 social welfare programs in this country. you know, i just so frustrated with the idea that we're just this evil, mean, nefarious country and europe is doing it all right. they're not. this is where all the innovation comes from. this is where all the upside comes from. we have a federal reserve official talking about more upside potential in denmark than america. this is a terrible narrative. >> no country has done more to free people than opportunities than all countries combined in history. >> i agree. >> let's leave it at that. leave the debate to ensue as to whether government can do more or less. i'm telling you my friends, left or the right, it is the dividing issue of this election. meanwhile, hillary clinton gets to the oval office she's ready for another office. an office for illegals. an office for illegals. would it be a cab
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weekend. i'm in washington, now back to cavuto. i would create the first ever office of immigrant affairs. >> did you hear that? office of immigrant affairs. what that office would be about is illegal immigrants and their issues. i don't know. charles payne, that kind of worries me right off. setting up an institution, american institution that would address those who aren't americans. >> yeah, i feel like we've already got this sort of red carpet telling illegals to come into this country. this will be the neon sign
blinking saying, you know, say hey, unlimited room, free room and board, food, shelter, everything you need -- it's absolutely -- >> and now you have 800 number for it. you know, now you'd have an 800 number for it. >> escalator, really, it's absolutely outrageous. >> well, i mean, didn't right away call the department of illegal immigrant concerns, but scott mark, it is all in line with a the love other stuff you heard about the delayed deportations, in the face of court rulings, saying those deportations should continue. granting licenses to illegals, all of that stuff because it misses something that these are issues that should be talked about, absolutely if you want to deal with it going forward, but they're illegals. if you want to talk about rights for americans it's one thing, but deal wl those who are legally here. >> it reminds me of a tax from a
few monthsing a that hillary threw out on kwlooet. it's very cheap, it's very populous. bernie sanders, people go away and vote for her in the fall, if she does get the presumed nomination, then therefore she's in some trouble. so if you're looking at this going forward as far as immigration goes, i'm for immigration, legal immigration, but if you're going to let all of these guys and gals in and undercut the american worker, you're looking at doing more damage to the economy than johnny manziel house party. >> i'm working on that one. the one thing i remember during a campaign, it was an emotional moment when hillary clinton embraced a child where she was, the child as well. now with an emotional like a norman rockwell moment. i thought of all those who are trying to get legal entry in the united states.
we're not going to take those who are legally here doing anything with them, furthermore, we might do away with that as well. all you fools following the law to become those citizens, well, you're wasting your time. that was my take on it, i grant you. what say you? >> my take is that the emotional message that she's sending is neil is to remind the world that we are a compassionate nation and that we will try our very best to work our way through this thorny problem that presidents at least -- >> she's already worked through it. i mean, she's concluded that that's not going to happen. >> in my optimistic read on this trial balloon of an office is that she's listening to everybody, that you said earlier, you know, this campaign is defined by a certain number
no more secrets unless you're being forceded. microsoft suing uncle sam over its secret services and wanting to get more of it. the tech giant says it wants to protect your privacy, but where is this going? going to jump on the band wagon, i'm sure. >> i'm on the security side of this. i think the government is right. and remember, this is very different from the apple case. the government wanted to build a bridge. they wanted apple to come and build a bridge to private information. this is very different. this is about keeping that search private. which is a law from 1968. so, i don't have a problem with this. i want government to be on the side of security. we need security. we are in the war of our lives with isis. it makes sense to do this now. >> scott martin. >> yeah, i agree with jerry. what's funny, i think a lot of these companies like apple microsoft or google, are using this chance as a pr stunt to say hey, america, we're not in the pocket anymore. because that was a complaint about silicon valley, but i
totally think that security is priority number one. that's the government's job to let him get in there and get that data so we stay safe. >> add a dam. >> i don't think this is a pr stunt by the tech companies. i've been on the security side. i've got a little heat from that out here. i'm with the government. but i think microsoft, which come plies with the law in all these cases is saying this shouldn't be open ended. we'd like you to clarify this so you u tell us when it's over. i think it's a lot narrower. >> absolutely, you remember how apple presented itself to the world with the play on the 1984 and big brother during the super bowl, but having said that, i don't want government to be unlimited access to their database. there's a specific legal issue, i think companies should step up, but i don't think we give them a blank check. i worry about a government that has a blank check to rifle through this stuff anytime they want. >> sentiment changes. >> isn't that how you prevent
some of those attacks. think about san bernardino. some of the things that have been foiled over the years. that's because of tech help. number one. and number two, how government works. >> i'm just saying if they're going through, yeah -- >> it's like patting grandma down at the airport. >> that's interesting. what are they looking for? that's the thing i don't get. everybody's so scared about the government in their lives. what are you doing you're so afraid about the government finding out about? >> i didn't what the -- >> you don't want to know what i've been doing. >> the argument is all this becomes a moot point, another brussels. this changes. >> exactly and public sentiment will turn on a dime. no doubt about that. i want to thank jared, scott. speaking of jerry, a new book out next week. it's rich is not a four letter word. it's really very good. we're going to talk to her about it. but i thought more in your face titles, she rejecteded all of
them. all four letter words. all right, did you hear some of the good news? markets are back in agreements here. did you hear the better news? thousands of people came out today to run the race for retirement. so we asked them... are you completely prepared for retirement? okay, mostly prepared? could you save 1% more of your income? it doesn't sound like much, but saving an additional 1% now, could make a big difference over time. i'm going to be even better about saving. you can do it, it helps in the long run. prudential bring your challenges
[martha and mildred are good to. go. here's your invoice, ladies. a few stops later, and it looks like big ollie is on the mend. it might not seem that glamorous having an old pickup truck for an office... or filling your days looking down the south end of a heifer, but...i wouldn't have it any other way. look at that, i had my best month ever. and earned a shiny new office upgrade. i run on quickbooks. that's how i own it. this is the kind of stuff you're missing if you're not following my friend, charles payne. making money. what are some standouts? >> i like joy global. a play on the global
construction business. also, iron ore prices should start to go up over the next couple of years. oversold big time. i love the risk reward on the big stock. >> the trouble is that adam didn't get a chance to weigh in on which is how he planned it. see you next. just three days away from the big primary and hillary clinton's adopted state of new york and she's admitting she'll hike taxes in america. by more than a trillion bucks over the next ten years. but with news that americans are now paying more taxes to the federal government than ever before, steve forbes says we're already being squeezed dry. is he right or wrong? welcome to forbes on fox. let's go in focus with steve forbes. rich, bill, carrie, john and bruce jackson. well, another trillion on top of what we're already paying, steve. >> well, this will body slam the u.s. economy. knock it right to the ground. it will hurt