tv Your World With Neil Cavuto FOX News October 17, 2011 1:00pm-2:00pm PDT
are down 2 percent today and neil cavuto will bring us context and perspective with fox report tonight at 7:00 eastern. >>neil: this guy 1,000 days in. these guys? a month occupying out. and, now, we can report this guy, the wall street crowd has their money on. welcome, everyone, i am neil cavuto and the numbers are in. and it is mitt. >> by asking the wealthiest citizens, folks making more than $1 million a year, to pay their fair share. neil cavuto wall: and fox busins network called it. and now it is ten times the rate of money going to the president,
right now. what is going on? charlie charlie -- >>reporter: i reported it from a fat cat fundraiser and i reported it on this show, the wall street guys that have supported him in the past necessity -- they boy cotted. my reporting showed they would not support the president in numbers. >>neil: who went to that? >>reporter: hedge fund guys. there are liberals on wall street new york doubt, the home of limousine liberals but the limousine is stopping and at the love left of center democrats on wall street, because of
dodd-frank, they blame the talk, the violence, on the rhetoric. and the c.e.o.'s are saying they understand. >>neil: out of fear? or anxiety? >>reporter: it is out of fear. >>neil: you have again to the rallies. >>reporter: i went saturday after i went to the gym to the epicenter in new york, to feel if they believe in anything other than the rhetoric. >>neil: did they recognize you? >>guest: a few. i kept on walking. here is the thing i picked up, a lot of the stuff about wall street does not make sense. they do not know about the
banking crisis, what caused it. it was not capitalism. one said "nationalize the fed," and she did not know the fed was nationalized. where they are articulate is on protest and the philosophy which is much more radical and much more marxist. i was just observing pictures of che, and ham -- pamphlets handed to me "marx was right," and they are not talking about groucho. >>neil: maybe they have had it with the rallies and the president, but this money is now moving to mitt, so, could they make that, the democrats, a political issue? how could that fall on the president? >>reporter: you can say this is the party of wall street
although i think there is a lot of, a big enough tea party element to the republican party now where you will know it is not the party of crony capitalism and dodd-frank allows this. >>neil: they don't have an a to grind what the president has done. too big to fail is still, but dodd-frank, that could be, but their bottom line has been helped. >>reporter: i don't think they like the image. >>neil: what changed? what changed? >>reporter: ground zero of the change when he used "fat cats," on "60 minutes," after scott
brown won the kennedy seat in massachusetts and he ramped up the warfare rhetorics and they are related to that rhetoric and the focus is not good for anyone, particularly for them. >>neil: charles gasparino, thank you, you are the best. and massachusetts congressman says that for the president, it could be a badge of honor. congressman, you thing all of the veterans are losing this crowd? ing some, he will lose this and gain others, wall street, unfortunately or unfortunately is not all of america but a portion of america, that happen to be more wealthy than the average american and that group in general has attended to be republican. >>neil: but the group in general went overwhelmingly for president obama. so, obviously something has changed, mr. obama it was the rhetoric, or, maybe, something more lasting. what do you think is really
going on? >>guest: if you talk to some of the people involved in the protests they are disappointed in the president as republicans. so, from what i see, it is general anger on many fronts. some of that anger i share. and, i think one of the questions still, what is the general focus? that is still yet to be answered by most. >>neil: congressman, a lot of the occupy wall street crowd is very angry at the bank bailouts and this president was and is a big part of that. so, when the president embraces their message, does he risk shooting himself in the foot? >>guest: i don't know every politician has to address this differently. there is not a political movement as i see it, it is a movement from the grass roots and every politician should be cautious lou they try to embrace it. i have supported them but generally not specifically. but in general i share their anger at 99 percent versus the 1
percent. >>neil: did you share that anger at the tea party, then, sir? >>guest: on some levels i did. i have always thought the tea party was a good grass roots support. i don't agree where they are on most goals but i support and encourage their activism. i do. i like people getting off the couch and push for change. >>neil: do you fine it odd in your party there is more support or recognition of what the occupy wall streeters are talking about than the tea party? >>guest: no, no, no, i don't agree with most of the tea party stands for but that doesn't mean i don't applaud their activism. there is some of that in this moment. again, since they are less focused and have not yet come out on a political spectrum, it is too early to determine that but that is the way the tea party started. they did not start as a politically active group. >>neil: that is a good point.
but do you think in both party ies, the uprising, they are venting at the wrong folks? maybe they should go 200 miles south to washington? >>guest: a little bit of both. a lost them see wall street, first of all that is a symbol, they see that as controlling washington. whether that is right or wrong, that is their judgment. and it is not necessarily misfocused. >>neil: you are not saying that as someone from washington? >>guest: i think wall street is part of the problem but washington is where decisions are made. i would love them to focus more on washington. even if they disagree with me i have in problem. as the tea party has on a regular basis, the content of americans getting off the couch to advisor thais -- their opinions is overdue, people have
been taking the time out but that is time to end that. >>neil: if the president stood for supporting the protests on wall street, if it gets violent or dicey or something like we had in the 60's with the vietnam war protesters, the silent majority whatever you call them, folks will say, a pox on the party in party. >>guest: that is a possibility. and that is the risk you take with any grass root movement. i think this is one, this particular movement, seems to have, they intend to have less focus, and whether that continues or whether that changes, it will be up to them and that will determine how people in the end will see them. >>neil: congressman, always good to see you. thank you very were. speaking of wall and broad and the protests they had a sell off to witness if they knew what was going on where the dow was
tumbling 250 points and a lot of this has to do with concern that the so-called tied up with the ribbon and ready to go package of support for ailing european banks may not be such a "go," and a rescue for the institutions and a back stop from the likes of the germans leading the effort is not so sure. that just has buyers bidding up the market averages to the first plus signs putting them back in minus territory. in the meantime, did the white house just throw cold water on reports that it will dump a key part of its own health care law? a republican senator who is no fan of that, john thune. that's good morning, veggie style. hmmm [ male announcer ] for half the calories -- plus veggie nutrition. could've had a v8.
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support repeal. what we should be doing is working together to address long-term care challenges we face in this country. and this is a reference to long-term care challenge. and reaction from senator thune who predicted this. senator, now what? >> well, i hope we can get it repealed. the president said he would veto a repeal of the class act although the secretary of health and human services who is responsible for it said it is not workable, it cannot be designed to be made to work. a conclusion she came to which many of us knew, months and months ago when this actually was passed in the first place. if they listened to the repeated warnings from the experts in their own department, the actuary of health and human services said this program will not work saying that way back before they pushed it through and this is something they wanted a political win on and, unfortunately, to the detriment of the american taxpayer this is
a rare occasion in washington where logic try ups politics. for now. but we need to push it through and get it repealed. >>neil: what is interesting, by backtracking and then the administration saying, well, it is not this is the way it is going do go after the secretary said on friday, well, it looks like it could have been a waste of time, this health care law itself, this was a key part of it, almost up there with having people forcibly buying insurance, this gets to bring the whole law into question. >>guest: you wonder what other parts of the health care bill, what do they know they are not telling you about other elements of the health care bill. because this was a massive new entitlement program that was not paid for. and, you knew, and they tried to get premium revenue in the first few years knowing when they got into the later years and the demand on the program came in it
would add to the deficit. that was clearly the congressional budget act coming into that conclusion and the actuaries, and the administration repeatedly ignored the warnings coming from their own administration that this will not work. and, so it draws into question other elements of the bill, now, but, we ought to repeal, get this off the books, do not give them an opportunity in the future to reactivate this. this in its current form does not work. >>neil: the only way to have it turned over when the court, maybe the supreme court, and that could happen next year, we don't know. but, barring that, is it safe to say the administration has made it clear, they will expound on the benefits, more people are covered than before, and pre-existing conditions are covered, and the benefits are there, and do not listen to republicans who say it is not worth the paper that it is printed on. >>guest: that has been the case all along.
my view has been that a lot of times when they pass the new expansions of government and the health care bill when implemented is $2.5 trillion expansion, that is conservative, i believe, and assuming at some point in 9 future people will like, the programs will be so popular people will pay higher taxes to keep them going and we cannot afford that, we are in a huge fiscal whole and we have to start addressing that and we cannot dig the whole deeper. what the class act did, dig the hole deeper putting more and more debt on the back of our children and grandchild so at least temporarily this is a vick -- victory but we have to win the war. >>neil: ron paul says he can balance the budget in three years but how he plans to do it has brought a heck of an uproar.
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>>neil: and now, listen to what i say and not what we are showing on the screen, our previous guest, the member of the house of representatives, is a democrat. not a republican. a democrat. leading by cutting? ron paul introducing a plan to balance the budget not in 10 years. three years. by cutting $1 trillion if spending. now. and the executive director for "public notice," this is a pretty big move. how does he do it in the critics are saying he is doing too much too fast. what do you say? >>guest: well, it is a very ambitious plan and it is it too much too fast? i may agree.
there is a lot of stuff in here that are big items the american public anyway not be behind in the going. like repealing certain legislation which would be overwhelmingly popular among republicans but getting rid of certain agencies such as the department of education which "the washington post" poll last week said only 21 percent of the public is in favor of. >>neil: but the department of education, it is one thing if kids scored, if scores were going up, but they are dumber than they remain before. but i am wondering, the talk of bringing everything back to 2006 spending levels when the republicans were in power is that unrealistic? or is the congressman trying to standout with his own version of 999? >>guest: well, maybe 2006 levels could be a little ambitious and house republicans now are talking about 2008 levels, but, really, getting
spending back to historic levels which is right around 20 percent or up, that would be an appropriate amount. i don't know exactly if 2006 get us through but it could be less, around 18 percent. >>neil: you have the pain before the gain, as you alluded, the idea, that the food and drug administration would be cut 40 percent from present levels and people say, well that mean as lost dangerous drugs and poisonous food is headed our way. how does he counter that? >>guest: he has to. you put a proposal out in like this, a bold proposal, you have to take the criticism and answer that. that is a very valid criticism of the plan. the f.d.a. portion of it. but, also, a good thing, it will force his other competitors out there for this presidential primary to come out with a plan, to not just talk about cutting but to have strong, bold
proposals. >>neil: i, you know, the ten year plans get under my skin, i don't know about you, i barely know what i am having for breakfast tomorrow let alone what the government will cut now or later over 10 years. so this guy is say this is my plan over three years, at least it brings it more dramatically to the forefront. what is wrong with that >>guest: why think anything wrong with it, a ten year lap is -- ten year plan is not realistic. nearly every year, year after your talking about cutting the deficit in half, and here we are, $15 trillion in debt it did not do it. >>neil: thank you. ron people is owe special guest tomorrow to spell this out, and we will hear from the guy proposing all of the cutting.
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which are violent and taxpayers are footing the overtime bills, to say the least. my guest wants the longer the protests go on the deeper the cuts will be made to compensate for them. and the republican new york city councilman, good to have you. so the costs, and this should not strike you as usual, but, many are surprised, they will be substantial? >>guest: this is a very difficult budget time for all of us, the nation, the state, and particularly the city. we face the $4.6 billion, billion deficit and we cannot afford it. the blockburg administration called it a dire fiscal financial situation and you add a month-long protest of people camping out 24/7 with no end ahead who will pay for it? you will. i will. our kids. schools will be cut back, and
police are cut back. how is the city better offst we need a dialogue on the wall street protests on where we go from here with regard to the financial concern. >>neil: the concern was, last week, councilman, if they got in to lower manhattan and tried to clear the park where the folks everyone protesting, it might have incited something violent. and we got some violence over the weekend when this preceded to new york's times square, but do you think the authorities missed a golden opportunity? and now it is too late? >>guest: we cannot have a 24/7 protest camped out in a park. there has to be concern for the bottom line by wall street protesters we. throwing people out is not the right way, but you need to
engage the protesters and those trying to organize them to say, at some point, the rubber has to meet the road. how does the protest end or take on a more manageable timeline? >>neil: obviously it is taking on a lie of its own, a month into there and all the costs associated with trying to contain this, it is adding up. what do you think is compromised, say, just in your neck of the woods? >>guest: well, the police officers assigned here are being deployed to the wall street protesters from staten island, cops we did not have on the street here. the mayor cut and said we had a dire situation and cut 2 percent east overall budget. that comes out of people's services they get and you add this on top of it, it is going to cost more tax dollars and it will limit service for everyone else in the city. >>neil: do you worry that it is a global trend, if you have
been to athens, madrid, that is the worry, this is the new trend, that we will see something like this akin to a tent city if lower manhattan, if not else. >>guest: this cannot be the new normal. the city does not have the funds for it. you cannot catch out on a public park forever without recourse or without a result in the end of the day. my question is, when does it end? does winter end it? spring end it in the hot summer in? when do we stop seeing manhattan use lived as a camp for the protests? >>neil: thank you, we will watch closely. and this is spreading way beyond manhattan but president obama says the protesters make a lot of sense. words that make the president more appealing maybe to the base, but, if my guest is right
less appealing to the independent voters that the president needs. michael, that is the sort of choice the president risks making: appealing to the message of the protesters and his base but it backfires if it is akin to the 1968 and elsewhere, people saying wait, wait, wait this is not what we ordered. >>guest: embracing the protests the president is setting himself up to be hostage for whatever misbehavior the people engage in and the video of the type that you just showed is, really, that is not something that i think most elected politicians want to be associated with. it suggests that there is a certain amount of disorder in the country. which he has been the head of government for the last nearly three years. so, it is kind of a problem. i was in chicago in 1968 and i saw some of the we protests uppresent and i saw the damage
that did to the democratic party and the candidate for president. and, you know, this is, this is not, you get a tiger by the taylor -- tail if you try to pet this pussycat. >>neil: and this pussycat people are ranting about bailouts in the wall street community which the president was an integral part and his treasury secretary aggressively endorsed and sponsored so it could come back to bite you and probably would, right? >>guest: well, there is a certain tension between the president running as a warrior against wall street, and the public policies that he has backed and the campaign contributions he has gotten. goldman sachs was generous to him in 2008 as were the others and the dodd-frank bill which
president obama endorsed and signed, that, really, made or gave the big banks a too big to fail status and has enabled them to compete on unfair terms with smaller banks because they can obtain more money and the lending community has read, has read dodd-frank and knows the government will not let the banks fail. >>neil: be careful what you wish for in the case of the protesters with a large sell off on wall street because of the banking rescue plan in european could be disintegritying, so, say the european banks revisit tough times and that coming over here and for all we know we could see another financial meltdown and we have the protesters in the middle of it and we could go from bad to worse quickly. >>guest: you could and you
have had suggestions from senator durbin and senator sanders who is voting with the democrats although sheehan -- he is an independent in the senate. they are encouraging a bank run. >>neil: i am glad you messaged that, and when durbin said that, for a united states senator to all but uninvite what we had in england which was effectively a bank run. that is really bad. >>guest: that goes against the democratic party tradition of roosevelt when he came to office at the first fireside chat about the banks which were closed saying this is how the banking system will work and you can keep your money and you do not have to do a run on the bank now we have democratic senators urging a run on the bank. that could sound like a lot of fun to those characters down on wall street, the few thousand there and the few hundred that
have come together in a few other cities, but it is not going to be fun for the american taxpayers if we have a run on any of our major banks. >>neil: michael, great to see you, thank you very much. and now talking about desserts, generally i say the bigger the better, and the nutrition twins are loving these small treats. no financial scandal here.
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thank you for coming. does this work when you tell people you can still eat what you like but smaller portions? >>guest: we are fans of control. there is nothing better than a craving and being able to stop it with a portion-criminal -- control treat that does not break the calorie bank. after you finish that, if you want to go back and have more, you have to open up your wallet and people just do not do that. >>neil: i don't know about that. many do. >>guest: most don't. but what concerns us where there are a few small portions, grouped together, if you have one, it is too easy and a little too texting -- tempting to stico one.
>>neil: the companies that do this, you could just grab another. and another. and another. and another. >>guest: that is the problem. we are all faced with temptation and people do not have self control. those with the best intentions say we will only have one, two minutes later, all four are gone and one must be 100 calories but four, that is 400 calories. >>neil: and now, we go through the popular ones. you could loss all the savings right away. >>guest: if you have 400 calories, and you have it all every day over the course of the year you gain 42 pounds. >>neil: but if you have three a day. >>guest: you only gain 30 pounds. >>neil: sow have do work with people to get in shape and what have you we talked about this during the break, it is the portion control thought in your head as getting your body in shape, right, which wins out?
>>guest: the truth is, really, if you are not mentally ready for a change, you will not change. >>neil: what is ready? if you know you need to get in shape. >>guest: you have to be there and want to do it, someone telling you is not enough. if you told me i had to lose weight, it is like, well, thanks but if it came from myself, i know i have to do it. >>neil: if the doctor is saying why care if this cookie or snack or cupcake is smaller portion but it is city bad for you, you should not have it, are you giving your client a mixed message? >>guest: the truth is in order to stay on track people need to be given something they like to stay on track without going overboard and you can perfectly, hopefully, fit something like this your diet, a small and portion-controlled item. the beauty of the small treats
you have an entire day of great food at the end of the day or the middle of the day, if you have a little bit of a treat it keeps you on track and does not blow the bank. >>neil: but what the companies do is charge you a similar amount for the smaller portion, so, they still keep you sucked in, and the idea is, always keep you liking the stuff but you guys would not urge them to eat, and, it's a self dooming prophecy, that is my take. >>guest: i would agree. >>neil: that is what i think. >>guest: it sets you up for the kill if you have four in front of you, you are better to go for the portion control one pack. my clients sea they cannot have the snack packs in the house because they eat one and the next and the next so the strategy is they buy one small portion control treat. >>neil: they go out and buy it.
>>guest: right. and they do not buy a package of four because then they are in trouble. >>neil: so if you buy the entire bag of double stuffed oreos and eat them at a single sitting that is not --. >>guest: not ideal. we did not recommend it. >>neil: i think that the more dicey economic times are the more we eat comfort food and the fatter we get. >>guest: i grow. >>neil: really, i just made that up. >>guest: you are right. absolutely. people are looking for comfort. so, they fall back to the comfort, their comforting weight which for many, they rely on food. >>neil: so they look at the market selling off and that is a reason to pig out. >>guest: stress eating keeps us in business, unfortunately. >>neil: armageddon is good for you. thank you both, very much. >>guest: thank you. >>neil: do you remember the chicago demonstrators back in
>>neil: and now the snack cakes are gone. do you think this isn't this? the antiwar protesters in 1968 do not come close? you could be surprised. and now, we have a fellow who knows a thing or two about crowds. when there are demonstrations going on and they are widening, they are not good. >> they tell you, unless they blow up, what they tell you is,
that people are unhappy, there is huge anxiety. and we have a political class trying to glom on to this, and the republicans are saying, no, no, no, it is 19 family -- about fannie mae and freddie mac. >> but what if they are saying well, it is wall street? >>guest: but the president got the money from wall street and i don't know why the republicans depth say anything, they are defending wall street opposed to main street. look the anger against wall street extends from the far left to the far right. i have said this before. it is an issue that unites the wall street like nothing i have ever seen. but the problem is, if this blows up like what happened.
>>neil: in 1968 with 9 -- the demonstrators it escalated after martin luther king's assassination and that of bobby kennedy, it took on a life its own and it was over-the-top in chicago. could we be looking at that? do they escalate? >>guest: if they are not properly organized. this is a free-floating situation, where people are coming from all their reasons. well, remember when this first started when the war was popular people listened because they were concerned about it and as it became more radical and more violent that was the beginning of negativity. >>neil: when the middle-class and upper middle class and college age kids got involved
--. >>guest: that was the late 60's. the problem is it went from the substance to the violence. we are nowhere near that. we had teach-ins. >>neil: i was too young. >>guest: they were having teach-ins and people explained the war. that went fine. and then, what happened, the opposition became more radical and more violent. and that is set the middle of the country off. >>neil: so if you were president obama or --. >>guest: and let me say the antiwar movement was more organized and was more, after nixon, middle-class oriented but no one is leading the ship. there is no voice saying they have something and they are right about wall street and the bailouts and fannie mae and freddie mac and the corruption is mutual.
>>neil: i don't think people are putting it out that way, and you are the expert and although i play one on tv, what they are looking at, and i think people are dismissing that the president cannot run with it, he has been saying the same stuff, their protesting it. >>guest: he has been saying it because the public has been against this for a long time and the white house does nothing that is not poll driven. >>neil: so polls say this is good? >>guest: the problem for the president is two-fold: he has been enabling wall street, appointing all these people, geithner and all these people, from wall street and he has the fannie mae team running the white house. so, yes, he does, and, also, when you grab something if it turns bad you cannot give it back. that is the danger. >>neil: thank, and he brought in his beautiful granddaughter.
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no, i deserve this. wow, got one of those with a mailman on top? priority mail flat rate shipping starts at just $4.95, only from the postal service. a simpler way to ship. >> neil: well, you know why i love working in new york city? it's a place of amazing contrast. health food store competing with the greasy spoon. the occupy wall street crowd protesting capitalism, but not two miles away the apple crowd celebrating capitalism. i tell you, it's weird. so close, but man so far and so way, way, way far apart. the protesters are inconsistent, too. have-nots against the evil haves.
wall street haves, bad. apple vas, good. bankers making money awful. apple making money hand over fist, fine. bankers aren't making much money these days and apple is making tons of money these days, aren't they? but protesters crowding streets to bash bankers for not opening their wallet. crowds stuffing themselveses in apple's stores and happily opening their wallet. one group bashing bankers for not sharing the wealth, but not the apple geeks for all but hoarding the wealth. i'm not here to judge. just ask. what is the real iphoneny? the company that can't make enough iphones or protesters who have no problem with the company printing money off the iphones. money is money, right? why are some company's green truer than others? exxon-mobil makes a mint titan tick. apple makes a per-share bigger mint. all good, all right, right? wrong. stop and ask yourself, bankers
leave much to be desired. the show robustly criticized under the last president, leave even more to be desire under this president. with money should come responsibility. but capitalism shouldn't come demanding it. apple shouldn't be ordered to take percentage of the iphone or shares. either the occupy wall street crowd seems okay distinguishing or crazy if i ask simply: who is asking and who is occupying wall street? who is just occupying things that seem off to wall street? what is good for the goose, good for the gander. something like that. ask yourself the next time you hear someone rapting about capitalism, why only certain capitalists, not all? fair and balanced. or crazy and unbalanced. that will do it here. tomorrow we have ron paul coming on to discuss the plan to cut $1 trillion and balance budget