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tv   Cavuto  FOX Business  March 4, 2013 11:00pm-12:00am EST

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is in the meantime got more of it, got spoiled by it and got arrogant by it. lou: is an arrogant fromump street. i have had them on my employer's tale over the course of time from january 2009. he is nasty about it. what do you think, is this recoverable? >> president obama got reelected to a second term. lou: so we're talking about the right guy, right? wait a minute, you say i can't, just witnessed it. you tell me what it is when the icon of american journalism bob woodward does what he has done and says what he has said that
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he is now joined by many of those national media saying how threatening this administration has been. what are you saying? >> has been long time since a late challenge him when the word regret is used. i'm talking about woodward. that blew up in his face. lou: what blew up into his face? anybody's face getting splattered here, looks like president of the united states. agree with me 100%. maybe 90%. thank you so much. thank you for being with us, we appreciate it. that is it for us, thank you for being with us. rudy giuliani will join us in "new york times" best-selling author will join us. have a great evening. new york.
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neil: the first business day of sequestration hell, and what the hell, the sun still came up and down the east coast at least it still went down. planes still flew, skies still safe. mr. ed still in the barn, not on our plate. mental patients still getting their meds. students still learning. no telltale delays, disaster. nothing even hinting this week of the armageddon promise as early as last week. >> sequester equals job loss. >> cost 750,000 jobs. >> job creating investment,
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thousands of teachers, educators will be laid off. neil: we are not saying this might still not happen, as a slow grind just promised this weekend will not materialize, but then again sending threatening e-mails, so we're not putting much stock into it either is saying now or any week. welcome, everybody. i am your "cavuto." one business day in, you have to look at the sky didn't fall yet. which is a far cry from the hell we were all supposed be facing republicans didn't link and stop the sequestration cuts from coming. they came, the market shrugged for a second all-time high. great pain over relatively low cuts. i'm talking about the leaders. none of this is to save the trouble may still not come at all. already promising in fact today,
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homeland security forces will be cut and it will be severe. they want to make of all of this you can cry wolf so many times before you want to see a wolf. so far, no wolf. what happened? >> not that we have been able to see. i flew in on a business trip on saturday, customs official got up and said because of sequestration it would take two hours for domestic travelers, three hours international travelers, they didn't have overtime or employees. i have never gotten through customs that fast before. government workers will work harder than they did before american business workers have been doing that since 2008, households have been tightening up since 2008. you can't reduce your spending 2% commission and be
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running a company. there is a lot of room for cutting besides people thawe absolutely have to have to assure our safety. neil: the reading we got from a number of democrats today was just the cuts will be phased in, the slower process we were told last week would be immediate in sweeping. take it at their word this is coming, but in the scheme of things i think they protest too much. >> exactly. in 1985 we had our first sequester, everybody said the world was going to end. we are going to survive this. we're still spending $15 billion more than we were last year and with the cuts implemented this year, 42 billion, $3.5 trillion budget. we're asking politicians to basically cut a little more than a penny out of every dollar that they spend.
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i feel like they can do that, neil. they should be able to do that. neil: i always feel for these contractors that will be affected eventually by some these cuts that will come to the defense and i take no late of their predicament. in the vast scheme of things that look of the country, the percentages, 85 billion a $3.8 trilln budget and a 16 and a half trillion dollars debt. in the scheme of things you cannot say cuts of that magnitude are really of any appreciable magnitude to do a fraction of the damage forecast it would go. >> if you're a defense contractor getting 50% of sequester and only 20% of the budget and military salaries are being held, yes, the concentrated cut on a few contractors and consultants and civilian personnel may be a little bit unpleasant, but the broader point is we have government growing too fast, federal government to big, all
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of this rhetoric coming out of the white house about we need more government spending to give us jobs. that is the same argument they used in 2009, they were wrong about the jobs creating impact and more government spending and they are wrong today about the job killing impact of less government spending. we reduced spending on the share of gdp under reagan and clinton and got much better performance thane have had under the bush-obama big government years. they wilneil: they will say dont believe the historica hysterica. they could be like climate change folks, if it is hot it is climate change, if it is cold, it is climate change. you know what i'm saying. you can add anything to it and there is no way to come out
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ahead of it. what do you make of that? >> the president is running the country. it is like running a business. if your board of directors tells you you have to make cuts, you have to make cuts and he should deal to make them without cutting any essential services particularly when the cuts are this small. we can do this if the president will lead, if the government will go forth in an effective manner. neil: what does it say the president say these cuts are to tony and anne cuts to the core, armageddon like, does he really have the appetite for the substantial things we need to see done for the continued resolutions? by the end of this month and more substantial cuts down the road in future months. >> i think the american people know these are not to tony and cuts, they are not severe cuts, we have a spending problem. when you spend more than you
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ring in you have a spending problem. they're making a bigger deal than this needs to be. government by crisis, running a business like crisis and you cannot succeed that way. we need leadership, we need rational thoughts going forward. it has to be done in i a way you're not creating a crisis every time something doesn't go your way. neil: michelle? >> neil, millions of americans have been dealing with this economy for years now reducing their budget. you don't see people in d.c. talking about there is going to be food contaminated creating this crisis. it is not until the jobs of government workers are on the line and it might be minimized just a little bit, they go crazy. americans realize how out of touch, they look like a bunch of spoiled brats in the beltway they feel like they should not have to suffer the realities of
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the economy while everybody else has to do that. neil: americans are getting used to not only the effort that got walloped, but 90% of working americans who saw what was taken out of their paycheck about 2%, which is a lot more than the cuts the government has to make right now. americans are adjusting and making those adjustments. would it kill washington to do the same? >> we should be not just trimming the federal government because that is all sequester is, cutting off a fingernail. we have gangrene and to save the body, to say the economy we have to tear back government entirely. here is the good news, this is the first real political victory that we have had over obama since he has taken office. did all those big expansions in the first two years, and at best we fought to a stalemate, he then got the tax increase at the
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end of a second term, but the sequester is a big defeat from a political perspective. we should enjoy this, build upon it and do everything we can to shrink government to allow faster private sector growth. neil: very good seeing you all. here is how things are getting for some unions, their own members are suing them. demanding longer union contracts just to stick with them. forget about being such sorrow, what if you can never ever ever depart at all? is that something you could swallow? wouldn't we hear about the teachers in michigan who are not about that. and maybe stocks won't hit the all-time high because tax revenues are at an all-time high. why that is why investors would [ indistinct conversations ]
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>> where is my money? >> i will get it, i will get it. >> no, no, please. >> you've got 24 hours. neil: i think they call this kind of a union offer too good to refuse until you try and you can't. now you know the blight on michigan teachers who want out, and now at issue, their union wants them to stick around for a while, pick 10 years. can unions actually forces kind of thing? trying to stop the union, american federation of teachers in michigan putting out this statement, contracts associated between the school district and the union ratified overwhelmingly by the school board, federation of teachers
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totally 100% legal. is it? >> thank you for having me on. it is actually my colleague who is setting this up, doing a fantastic job. no, what you're seeing is the unions trying to make an end run around the legislature and get the contract extensions in before right to work goes into effect march 28 trying to clan grandfather clause in. paying the union dues and not getting the rights under right to work for 10 years. neil: a lot of people have told me, have not seen a copy of the labor contract. in the event you want to leave the union or whatever, we have the right to extend your stay. blah blah blah. there is no way guys like you can stop that. >> in this case it is tha not en
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in the fine print. what the union did was unprecedented, they have a separate contract to the original collective bargaining agreement, so the thing that sets the working conditions just for locking the workers into 10 years of paying for stew. -- forced dues. that is where the thing in legal contract law that says each side has to get something and give something up to have a valid contract. in this case the woers are getting or the union is getting 10 years of forced dues and the only thing the workers are getting is a privilege to pay those dues until 2023. neil: we should explain the right to work, you as a right of the employee of the state whether you want to be in a union or not. if you're the union he said such a good deal because we will get better pay packages and the like, to be an honor to stay
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with them, you won't bat an eyelash at it. the people are concerned they will look at this coming to the quick conclusion isn't worth the money or the aggravation, and that is why they're doing this, right? >> the union is worry once workers are given a choice, that is all writes to work is, gives a choice whether to pay the union and still keep their job the unions worry once you have that choice they will say forget it, you are not doing a good job and i don't want to pay you. a lot of them say they look at the politics in this union wasted $125,000 on a failed constitutional amendment. it is not worth my time. neil: me like that campaign.
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have at it, stay with it. thank you, always good seeing you. in the meantime, mitt romney is back and he is looking back. how that could actually help republicans move forward. >> rehearse all the mistakes you made and i went through a number of my
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neil: is mitt romney feeling misty for christy? not quite, but mitt romney seems to be saying enough of the conservative pile on over christy and on christy. telling chris wallace that he is responsible for losing to barack obama. mitt romney, not chris christie,
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not the new jersey governor famous for his hurricane sandy embracing of barack obama. >> i will not worry about chris doing what he thought was best for the people of his state. i lost my election because of my campaign, not because of what anybody else did. we had to do a better job bringing minority voters and to vote for republicans, and that is hispanic americans, african-americans, other minorities. neil: does the loser have good advice for how the next republican nominee can turn things around and be a winner? should republicans take his cues? >> absolutely. he has some good retrospection on this. effecthe fact of the matter is d not do eugh in the emerging communities especially like ohio. we lost asians and hispanics 70-30 and african-americans but even more than that. we lost young people 60-40.
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we're not on campuses or in communities. how can people trust you and think you care about them when they have ever seen you, never seen people who work for you or volunteering for you, how are they supposed to trust you? we need to actually have some credibility, not just show up and say we are here and go out and make friends. neil: the one thing i thought listening to governor romney, he is a class act, but having said that, i do think there was something which he said about chris christie almost sending out a warning however you feel he might or might not have impacted, the governor seems to feel didn't, is he warnin a waro push a guy like christy aside? >> there is very much that message. in the last campaign the republicans really missed out on
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the moderate voters and the moderate voters are the ones who often don't want you in the pocketbook and don't want you in their personal life. neil: that is a balancing line christy walks. >> christy walks would ever walk he wants to walk. a lot of people like that. the willingness to upset the base republican side has to push forward because even mccain changed his tone going at the national spectrum. he was far me moderate before and iit is to the detriment of everyone. neil: you're kind of educated me about both parties nominees, republicans running to the right and democrats run to the left, they rush to the middle, but the more they kind of pull this kind of stuff, what rummy seems to be saying is republicans certainly risk the mainstream vote or the moderate voter. >> has been a wild since he sat through democratic primary, but don't where this kind of litmus
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test between obama and hillary. neil: they were both are doing on the left. >> exactly right, but mitt romney had to completely take the record and tear it up essentially and come out against romney care, said he was not going to support a balanced budget. neil: you can never get past your party. so with christy alienated, the conservative base, he cannot get past that. speak to look at what christy is doing in new jersey. i happen to like chris christie. the reason is because he has instilled a number of values i like as a democrat. it may make people rethink it, but if you want to be competitive in four years, have a look at that. >> every single voter is making choices, either deciding i will go with my moral take, my
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quantitative take or financial pay, better economy means more to me than my personal rights and i think on both sides who have black people overwhelmingly against abortions but voting democratic. people are making choices and we have to make it easier for them. neil: yes, he lost, and he lost a lot, but he did not get annihilated. having said that, it was not as if it was a landslide. i am wondering if there is republicans coping too much, what do you make of that? >> i think there's a point to that. with chris christie especially. the people are not always from super conservative circles. campaign against marco rubio, inviting msnbc contributor. i don't think they're doing a
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litmus test for them. that is a good question. i think chris christie should be there. i am upset more for him saying the pork was okay then this other stuff. neil: accepting part of the health care law. he looked too malleable. >> mcdonald speaking, he actually about to hike taxes. >> the funny part is the big winners in the tea pack thing, for him to go would have been a huge political error if he is running for reelection. neil: but you know, if you almost wonder the same republicans who are rejecting
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the economy just a little bumpy or republicans lose control in the house, they will come right back to me like nobody's business. >> the freethinkers are looking at him, he tells it like it is. neil: normally civil wars withi parties are not constructed. >> you will see christy move immediately to the right. neil: business guys like him getting back to the very dna of this show, he preaches to their choir, he has the best chance. >> do you think is a legitimate contender? yes, he is. should he run a? sure, he should. turning around a state that is absolutely corrupts, absolutely bankrupt and turn it into a great day, others are very young and fresh, offer some promising things. not necessarily chris christie
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is any savior to the republican party. he's not a great articulator all the time. he speaks what he thinks and there is something to be said about that. neil: we will come back. we will have more on a lot of other issues. in the meantime what is the differce between wal-mart paying millions to mexico and senator john kerry doling out money to egypt. apparently a lot. a double standard we thought we would get into next. (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help.
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the. ♪ lamb. lou: -- >> think about this. walmart pace, and it is accused of bribery. secretary of state john kerry doles out to hundred and 50 million of our taxpayer dollars to ease it, and diplomacy. former reagan defense official says that smells more like hypocrisy. probably at the very least a double standard. >> hypocrisy and incompetence all in one because 200,000 employees, one of the biggest and successful parts of walmart. what do we get? the head of israel calls jewish
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descendants the pigs of apes, at talks about nurturing hatred. the muslim brotherhood guy. so not only -- neil: haven't you heard the good news? key is toning down his rhetoric. >> this is like paying somebody to do the homework before they have done the homework. he is not doing the homework. he have -- tea as an economy that is collapsing. the world's largest importer of wht. neil: would you not? >> what have they done for us? i believe in foreign assistance when i want something for it. henry kissinger, 1973, when he got something from egypt we gave them -- military and economic assistance and we get 30 years of peace, a peace agreement, a cease-fire and peace agreement. now what do you get? neil: hearing this administration tell the fed. >> thirty years of peace.
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neil: bizarre stuff. but you know, you know, just all of these guys. very little bang for the buck. why do we keep throwing all these? >> we get something for it. it is much cheaper and better. but if you're not getting anything for it, something that you are allowing to have happen is a country that is working against your interest. we are making a big mistake. the example i used pakistan. we give them to billion the year . over $20 billion to help kill and destroy. what did they do? took our money, use it for other things, and at the end of the day the only reason we were able to get him was because they did not tell the pakistanis who were coming to get them. neil: one guy who worked with them went to jail. >> you're right. neil: can you explain how this whole thing works? i have the sneaking suspicion that like when i was a kid and my dad al give you this if you
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quit ramming cars into the garage. to me, i'll do this if you do that. i knew if i appeared to eparch correctly or leave the car outside the driveway, i would be doing all the things to win his favor him even though i'm still allows a driver. so i'm just trying to buy his or at least his financial support, not that i could never do that, but fast forward to this. the same principle at work, a lot of these countries say and do the things that think we want them to do because of the stuff they think we want to hear, but it's all b.s. they don't mean a word of it. >> i think the proof is in the pudding. >> what do you look for? to you want to see them follow up on what they say? >> you definitely want to see them follow-up. what are they doing? for example, egypt. here's a country we encourage.
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we hope to have a democracy. guaranteeing. has that happened? no. what we want and we see is the muslim brotherhood which is on the record. destroy israel. not necessarily america's best friends. neil: obviously we are placing our bets on this very, very shaky muslim brotherhood-run government. >> and the thing that statement is vague. >> so would you just stop it because it does not look promising? >> i want to see some results. neil: like what? >> let's guarantee the rights of minorities. let's have israel come out coming egypt and out and say, encourage the fact that there will have a better relationship with israel, keep the peace treaty. neil: how would you trust them when a year ago there were recommending annihilating it? >> have they come out publicly and said that they're going to keep the peace agreement? no. the asset just the opposite, reconsidering it. when the president said, one of his first trip was to go visit
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the country we know is on the cusp of nuclear weapons. and step after step after step. they're not supporting our interest. neil: the timing of this in the middle of all sequestration debate. 250 million. a, you know, it was here. neil: for example, the other thing and i think is really questionable is military assistance to egypt right now. now, the administration says marriage is making good on the contracts that we have had for several years. but the imaginary equipment that we will be giving him. but will it be used for? it possibly be used against their own people, potentially against israel, so, you know, at a certain point you don't want to have the tail wag the dog whether it is aide ted egypt, pakistan, or any of the other countries that we keep doling out. once you start giving them aid your then almost in this trap where if you stop giving them aid, then you are going to get our eternal enmity. i think it should be the other
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way around. you want our, eight and we want something for. neil: well put. well put. thank you very more -- thank you very much. like so many ceos. [ lisa ] my name's lisa, and chantix helped me quit. i honestly loved smoking, and i honestly didn't think i would ever quit. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. it put me at ease that you could smoke on the first week.
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♪ neil: well, he is a billionaire, that that does not mean more than a ceos, warren buffett's annual lecture letter to be more than a bit rich pointing the finger on then this ceos for doing too little and often too much quoting from the berkshire hathaway titans latest, if you are a ceo has some large profitable project, short-term maurice. let us sunbird new. so to the guy you read that and it darn near made him puke, talk about, i use that for a fact, easy fort millionaire investors to swap ceo investor concerns.
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with us as well, former best buy seal brad anderson it thinks that the billionaire is contradicting himsslf. let's go to you first. you heard that and of what? >> the oracle of omaha is way off on that one. we should do more than wind. we should have a result. will we take a look at the small-business owners, they have been hit with the bulk of all the tax increases. this impending obamacare in next year. the maneuvering for getting ready for the impact is happening right now, and people are not adding jobs. neil: now, brad, i understand, but brad anderson, what he is
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saying here is, i understand he said wins in the understand. i'm paraphrasing. it is almost -- route this country's history, he is back to 1776, there have been, always, theschallenges. those bravenough to believe in this country and its future have stormed through them and the whiny and picking apart, all the stuff that, you know, paul was alluding to, it only limits the potential. what do you say to that? >> the first part of that i thoroughly agree with. i still think this is the best country to invest in. one of the things that bob was ironic was eyes are on a variety of boards and am aware of any ceos too timid to make decisions where they think there style is in profitable, but i think that warren buffett supporting a lot of things that are making things substantially worse for, and some industries. if you're in the health care industry looking in a major investor you gonna will be paying the bill, what the
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regulations you will be acquiring, you will be paid for for this of the -- facilities and to you wl be required to serve. that is going to be a major change happening in a few months, the beginning of 2014. no guidance. if the -- war and would not be making an investment without being aware of the consequences of some of the strategic decisions being made by washington. neil: but he could -- i put my money where my mouth is and to your industry in a way, his acquisition is proof of that that he sees enormous opportunity in synergies there and growth potential there. so he is looking at your very business. this stuff to you have on all of your tables, but he is saying, i see growth. i see expanding global economy. you, clearly, have your doubts. right? >> i have my doubts, but it is not for the collective stamina and dedication and force a well that is getting this improvement
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in food service and hospitality, but in spite of the administrative efforts, not because of. a bunch of tough as obese, and we will have it be a successful operation no matter what. we are all working hard, all working day and night to just ease out a little bit more in our business sense to provide jobs and opportunity and advancement to our employees, but we need some help from the administration. when you increase payroll tax to percent, there is a pullback from the consumer standpoint. they don't amount to the restaurant they don't amount to best buy. the documents to the other retailers. that hurts us. and the things i mentioned before. not only is the obamacare limning large, but the whole access to capital has never improved since 2007. yes, there has bell of the movement there, but not enough to significantly helped the demand. people don't want to get into franchise. the capitol is just not there.
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neil: you will be saying that. i apologize. he could be saying, we are focused on the short term. all of these storms will come and go. longer term you will miss the but if you don't commit capital and do big things now. what do you say? >> i agree with them. and i think that the purchase of hines is a good example. else to think their is a perverse thing going on because, as paul alluded to, if he makes it harder for you to start a business, it makes the business all the more valuable because it is harder to compete with a long-established business. most places it is safe to make a capitol investment, but in other places, in this part of the foundation that grows our economy, destabilizing in challenging. it is much tougher to get money and much tougher to invest. neil: i wante thank you both very much. thank you. >> our pleasure. thanks. neil: in the meantime, great news. the money is flowing into washington. boy, is washington swelling about it. something tells me they are
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♪ neil: here is the good news. the government will taken almost 3 trillion in revenue. a new record. here's the bad news. they will take in the record two and half trillion in revenue this year, and that is a new record. more spending. what do you make of that that this could be a mixed blessing? >> it just proves we don't want to have a revenue problem. will we need to do is to stroll spend it -- control spending in the entitlement area, medicare, medicare, social security.
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helping corporations big growth in the economy. neil: proof that tax hikes work. bring in the revenue. revenue that has gone our way because of those types. we are off to the races. what to sue. -- what do you say? >> the economy's doing quite well. look at the stock market. over 14,000 points. adelle is doing pretty well, even despite the so-called tax increases that we were able to put into effect just recently. i think the problem is going to be that the american public does not trust congress anymore. they have seen both sides blaming each other for failure nothing getting done. republicans say no increase in revenues. democrats are saying don't get anything. as long as they take those positions, nothing will ever get accomplished.
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neil: time is a wasting. that is done dealing with this continued revolution of the potential shutdown. all the powers that be in both parties say they want to avoid that. they said that last time that we can close to one. we will be avoided now? >> they're going to avoid it. they will pass in the house and senate will accept this week. the house will pass a continuing resolution that we will include changes for defense and military construction. a little more latitude at the department of defense and what to do. and i don't think they're going to have another -- the sequester in budget deal to take 15 minutes. that's how long it took us to work it out. but they don't seem to want to talk in come to terms with intel and reforms. neil: but we don't have leaders like you guys. they're not willing smoke a matter of you, but you were pragmatic and the way you went to representative -- about things. announcing you were not loyal to your party core principles, but
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you were looking to get that shot of a love that you would not give it all, as ronald reagan would say. doing nothing and all. so does it fall on the president who warned about near armageddon if we did not get an alternative . neil: everybody else about it, and i think that the problem that congress has right now, there is no more strong middle-of-the-road members as we had back when others were in the lead. the republicans and house are far more conservative. the democrats have been far more liberal. we used to have a strong center group of centrists in the house and senators that used to be able to work together, take the best ideas from both sides, put them together, and come up with a compromise. that is the answer to this problem. we will have to come from the center, not from the far extremes of both parties. neil: there is no one in the center.
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so what i am asking you. time is wasting. if this drags out -- i cannot believe i am saying is, but there already talking about the midterm elections and the implications of that. and as you know, everyone is focusing on 2016. the precious time is already passing. >> absolutely outrageous they are already positning. his real goal is to take control of the house in 2014. we have some problems now that we need to address. they can be addressed. this is the year to do it because your two years, in effect, away from that next election. let's not start talking about 2016. neil: they don't want any damage to stick to them. the present is already saying whatever comes that we have that is going to be on republicans. it won't be a cyclical event. he will trace it back to whatever they did on sequestration are not. i don't know if that is right, but in the end, is that a winning strategy? is that the strategy for democrats to retake the house?
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>> the blame game is not a strategy for any solutions to big government of problems. what you see now is republicans blaming democrats, democrats blaming republicans, and the president is also blame the congress. the american people have sent a message. we're tired of that, tired of excuses, tired of the blame. leasing to washington to get something done. think the answer will have to come from the center of both parties. i hope that they will recognize that and move in that direction. neil: i'm not holding my breath and a gentleman. you are indications that hope springs eternal. thank you both very much. meanwhile, any of you remember the housing crash? it could be worse. the stu
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neil: that was me and my college roommate. they are laughing but the student loan debt is now approaching $1 trillion and one-third is delinquent. people are in no rush to pay because washington bails out subsidies. ron, there is no incentive because if you like history someone will take care of it? >> right. students cannot afford to pay a. it is the most underreported stories. six other than americans under 30 are unemployed in half of those are underemployed and stallone debt is off the chart, the nationalization of the program is one of the most
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immoral programs in united states history. yes, you must go to college and take of $30,000 of debt but if you can find a job too bad. defaults or delinquency. neil: many shirked their loans. is this like the housing crisis? did i went to college they guide for the bill grants i paid back every penny back. neil: because of them you are here. >> absolutely right. there are plenty of people in my shoes to could not afford college otherwise. neilwith the problem is we provide bigger loans for schools and the justification with higher tuition so there is a separate argument. we have a problem where kids
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figure the government will do something to help them out. >> but it is not your shoes, a college is more expensive to been by the capital marketas made it so easy to get capital like the housing bubble. neil: and it will erupt like that. it will be its own hot mass. neil: is there a solution or just add it to a list? >> programs are coming out obama put out pay-as-you-go allowing low-income students y 10 percent cut from of what they earned and then write it off after 20 years. we are setting ourselves up for a bigger problem down the road but the kids cannot pay off. >> serve single handedly the fastest


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