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tv   Forbes on FOX  FOX Business  October 19, 2014 9:00am-9:31am EDT

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>> thanks. looking forward to having neil cavuto back next week and catch me on fox business "making money" monday through fridays. and thefor business continues, the place for business, fox. has been flat since 2003. responding to an emerging infectious disease threat this is particularly damaging. >> cut. >> that was the left hook. >> cut, cut. >> the right cross the sequestration. >> boy, talk about an ebola blame game. that new ad from a liberal group blaming republican budget cuts, supposedly, for ebola deaths at the same time the head ofhe national institute of health also blaming cuts for not having an ebola vaccine, and now calls for more money. but would the nih have more money if it didn't fund things like studying the behavior of drugged monkeys or whether male
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fruit flies prefer younger or older fee main flies? the list goes on. is it a spending cut problem or a priority problem? let's gonocus to find out with elizabeth macdonald, rich, bill ang with john tamny and rick unger. john, you say forget the spending cut blame game. we shouldn't be spending what we are spending? >> ablutely. if ebola is the big risk that people say it is, you want to slash federal spending and you want to do that, because you want to leave as much money as possible in the private sector ere it will find innovators in search of a cure. the reality is, innovators like thmas edison do not work for the federal government. seems foolhearty to think we should fund more waste on the way to a cure. >> bill, on the opposite end pup say definitely spend more mon? >> definitely spend more money. the budget of the cdc has in fact more than doubled in real terms after inflation since the turn of the century, but you could also say the same thing
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about spending on combating terrorism and the harsh truth is, if we want to start either pandemic or terrorist wes have to post sentries on every corner of the bloeb and spend more money developing technology. >> to bill's point, it isn't really true what the ad claims. in fact, in the past two years at "the washington post" reported, the cdc actually, the ngress, the republican congress, gave the cdc more money than what the white house wanted to give the cdc. >> right, david kn. no shortage of funds, of common sense and backbone. we've seen it time and time again. the cdc budget up more than nine timesince the '70s. they get more than $900 billion, all sorts of assistant secretaries who actually can be ebola czars, there, ├▒kasv5 when the anthrax thing happened in the early part of last decade, the cdc got more money
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for biopreparedness and shut down things like ebola. i don't see why we need to throw more money at it. we need more money with spines in washington, d.c. >> ck, by the way, "the washington post," i mentioned the article. they ga that ad four pinchios the long nose pinocchio, their way of saying it was lie. >> look, i saw the ad. i thought the ad was ridiculous, but let be honest, everybody. the both sides who are playing this absolutely inappropriate stupid blame game. i'e got to say to john's point, deeply flawed, simply because, thank god, ebola does not come along in the world enough to motivate a drug company, a private industry to make the investment to find a cure. saying, you do need government. let have the discussion about budgets after we get past this problem. i will be thrilled to participate in it then. right now, let's worry about getting rid of ebola. >> but toohn tamny's point, look what the nih is spending money on. we pensioned a couple.
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here are a couple more things. vital interests to the nation they're spending mone on pap government study finding out wives should calm down. that was $325,000. and we're not eck joking listen to this, tune into rerns and feel better. a study suggesting that watching television reruns makes people feel better. about $700,000. >> well, look, i agree that most wives and husbands, too, if you gave them $325,000, they would feel a lot better. >> calm down. >> but, you know,david, this -- these are small, relatively trivial, easy to make fun of. the larger issue is the one pointed to, on wat basis should weave any faith, either in the cdc or the administration to manage this ask they make the most ridiculous statements. tom frieden of the cdc, who easy had the cdc, can't even decide whether it's safe to ride on a bus or not. i mea you know, these are the
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things that they're strgling with while this -- while ebola threatening to break out, an john tamny a political side as well. dr. francis collins, heads up the nih, he came out with his statementsaying that perhaps republican dget cuts were caused problems with ebola. here's what he hadd to say. he came out with it at about exactly the same time as this ad was issued. makes you wonder whether peop inside the nih are actually lobbying against the republicans? >> yeah, i thk there's something to this. i will say i ki of like tha spending on calming ves down, but overall -- >> you rcent got married, w can report that. >> that's right. yeah. >> come on. >> a little -- >>alities bit of federal spendinghat i seeerited in. but overall, i almost would say that conservatives and republicans need to calm down here. here's a perfect opportunity for them to sa we side with the prident. we don't s where the president would have any skill in fighting
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infectious diseases or fighting viruseses. let's work today, get the fuding back to the private sector where you can actually fix this. noby government, for obvio reasons. >> bill, why d you support governmentetting more money, then? >> vo it agree the cdc is often very distracted. theypend a lot of time and effort fighting smoking or lectures ar tobacco or lecturing about obesity and should be focusing epidemics, and i don't thin private industry can deal with epidemics. it j just doesn't work. >> eechl-mac, it's clear workin tandem with republican advocates at they will spend money on stuff thats not vital tohe national interest, but vital to special interests, within the government? >> yeah. political pork projects, and when something happens, it becomes about as precedent at an elvis presley sighting. you don't see where these guy. tell you something, time and again we have these guys spending like vegas drunks,
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right? an insult to vegas drunks. the question , who'soing to take charge? now we have an ebola czar. do we really need another ebola czar, david? like pasng th hot potato. that's what's going on, a lot of ssig of the buck. >> rick, as we've seen, back to the political point for a second. in the past two years, the republicans have actually giv more money than the president's own budget requested for the cdc. that was in 2013 and 2014. >> thank you. >> shouldn't the president disavow this ridiculous ad? >>think, you know -- actually, i'm- i don't know if the president's ing to do it or not. as i said in the first part, big miake. republicans making mistaes, but have to say this -- what you sai about the ninih. i dot know if it's -- look, i'm alive today, truly, because ofthe nih. you could argue that's no in the public interest. there are those who would say that, but to me it's not about public interest. i'm alive, because of what the nih did. >> a study that helped you out
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with medin >> creaed a drug that kept me alive. >> all rig. john tamny, what about that? u love your friend rick eng want him to live longer. dont you? >> and i want him around for so many reason, but just because the nih created somhing that kept him around doesn't mean that prite sector wouldn't have done it much more effectively and cheaper. >> buthey didn't. >they funded it. >> you can't know that. you can never know, because you're talking aout -- you have to consider the unseen. all the cures that have never taken place, precisely because governmen knows no bounds and is consumes msive amounts of limited capital on things we don't need. >> and rich in for the final word. what do you think? aren't t some things the nih does well we need em to do to keep people like rick k alive? >> i shows that's true, but john make as great point. john is really talking, i think, about the fda. the fda makes it difficulto bring any new drug to market. so expensive. so time consuming. you know, that's where i think you would pull back funding.
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probably not at the nih. >> all right. last word from the pblisher of forbes. if the government won't ban flights from ebola-stricken aras, one u.s. college may be teaching us ho to do it ourselves. that's on "cashin' in." but first right here, ebola, isis, and clate change? what the defense department just declare an immediate and costly reat to our tional security that has some people here calling it insanity. i'm type e. my golden yearll not just be goldlated. i had 3 different 1(k)s. and ade retireme planningcalculator. options now i know "when" i'm going to retire. not "if."
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eastern with julie bandarras for a brand new hour of news. when you think of a media threats to our national security, probably think of ebola, isis, maybe even russia, but climate change? wel seetarary of defense declaring climate change an immediate threat thi week, and, mike yoyou say that's one costl declaration. >> david, hagel is pushing the predent's far left agenda. this is the same agenda that
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says al qaeda's decimated. no, not ue. isis is the jv team. no, that's not true. same thing wh this. it's simy not th government's job to use the military to combat climate change. >> and, rick, according to a recent poll, re's what americans consider most important to their interests in terms of immediate security threats. on, economy, jobs. two, terrorism. immigration. you have to go way down the bottom. only 3% there at e very bottom think climate change is of immediate concern. > yeah, look, i acknowledge i'm troubled by t word "immediate." maybe it's how you define it. i would define it in the next ur years and don't really believe that this is a national security problem in the next few years. however, if, and i'm underlining the word "if" so we don't have to have that debate. if you believe there's climate changeaking plac whether naturally or man mad then it's not that hard to see how that does trslate into the situation that would, in fact,
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be a problem for our national security. >> let's really spell it ou this is specifically what the defense departmensaid, and i'm quoting them now, "climate change wl affect th department of defense's ability to defend the nation and pose immediate risks to u.s. national security." that came out right in the middle of all of these genuine crises that are happeng right now. >>well, david,the immedte rick is that the democrats are going to le the senate, and the only hope they have of keeping the senate is to rally the bae. so what this is all abo is rallying the base, andchuck agel should be ashamed of himself. you know, he was once an independent republican, and now he's a puppet for a desperate adminisatio >> sabrina, why the pentagon? why the defense department? of all aces. if, as rich says, this is all political about uniting the base before the election, get some other department to do it. maybe epa or something? >> well, no.
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rich took rds outf my mouth. mid-term elections less than a month away and most americans are favoring the gop when it comes to foreign affairs. if yore n leading on ebola and not leadingon isis, you have to find something to lead on and democratswant to take the climate change portfolio to the ameran people, but this is simply aalmism that's run amuc insulting to arican votersnd terrib. >> the weathes not helping in this argumt. more brdly, it speaks to a d ss brat inearch of a mission and should scare people regardless of views on warmly globa if this is going to get into science, that means it's getting into things that put ourroops in harm's way. we've got to streamline their mission precisely, because we want to be safer's th is dangerous. >> and,mike. geting to a broader point at at t purpose ofovernmt is, it to protect us. it's gone ito all sorts of nanny state variations of that, in terms of, you know,
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protecting us from cradle to grave, but just protecting us from immediate threats. we do have those threats ebola, isis, et cetera. is there any circumstance under which climate change could be considered an immediate threat? >> vid, i really don't think west point is going to srt teaching t peop that go there how to disse of plastic bottles or tell them not touse fossil fuels. all of the brave men and women whhave defended this country they ew hows, did so because to fight. this whole tng, this -- this world that obama ves in, it's "ale in wonderlan" has nothing to do with the real world, and thas really what's posing the big danger to this country. our president lives in the"al igs and wonderland" word. >> and, rick, nobody knows how to prioritize as well as the military. they have to prioritize a lot of things. ar we really in the business now of having our military take pa -- even assuming for a moment there is some danger fom climate cnges or is there any reason t military should be involved with that? >> a couple things.
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first to michael, i have to y, it may interest you to know i've been hired to teach bottle disposal a west point next semestep aside. >> talk about -- >> and to rich's point, the chart david shows us a few moments ago disproved the politics of what you're saying. it's t lowest on the list. trying to get political advance for the democtic base therere ain't many people in there to convince. >> what do you s about that? >> look, because -- well, these elections, this is going to be a razor close elen for the senate. on the margin, the hard-core sow supporters of t administration need rally, they're dispirited from the ecomy a other things right now. >> sabrina? >> this has been parttheir ajeopardy da. climate change, part of the strategic planning division. it'snteresti they're w trotting out there in the weeks before the lectn. obviously, there's some kind of political motivation and i don't put it past democrats to know ctly w to target. >> last word from sarina.
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thank you, gang. gas prices are plunging abdoned sauis are helping by pumping out more of their oil, but is therere intonight kill off america's boomin energy market? we report, you decide.
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gas prices taking a dive as il tanks. that all sounds like good news. right? some say saudi arab is pumping more oil to helprive down prices in order to kill off our own competing energy boom near the u.s. rich, these lower prices could hurt u.s. fccers. right? >> yeah. it could, because if you look at the shale oil boom, they're not profitable unless oil is over $70 a barrel, because it's very expensive the horizontal drling and fracking, to go that far down and get it. but, look if it happens, thiis good for everybody else, because low oil prices and low gasoline prices is just what the global economy and u.s. eonomy needs right now. >> but emac, just as we're about to become energy indepeent, this is happening. it's tough on u.s. domestic producers, rht? >> oh, yeah. a lite mom and pop shop. a lot of those guys are in this space and rich is absolutely right. it's more epensi to pull oil out via fracking than for saudi
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abia. the ceral bankf oil. so saudis have 3/4 trillion in resers, they can take a hit if l prices go down. i think russia is trying to stick it to ian and trying to stick it to russia, the saudis want to get int china space and displa russia in that area. that's part of it, too. >> i don't have tears over russia and nezuela, but we the united states, becoming strong competitors to the saudi arabians. item a lot of peop saying will will exceed if we haven't already in terms of oil production. how do wedeal with the saudis? >> expect what a competitor does. grab back the business they lost to rich karlgaard's friends in north dakota. i don't think 's bad as rich does. it's expected this will help the economy. >> hlp the economy, mike, but perhaps hurt u.s. producersnd hurt our ability to becom independent. >> well, david, the pricef oil
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has fallen primarily becau the dollar's gotten stronger. it'snot going to hurt the profitable area of u.s. production are oof oil. not from fracking but the atlantic shelf. pric are lower. very profitable for u.s. producers. >> but sabna if it does hurt frackingome say it will, i think it's atwo-for for the president of the ited states, right before the election, price of gas goes down and he gets to help kill off the fracking siness, because you know he hates that right? >> well, you know, you may be on to something, anyou know i'm a big supporter of fracking. th bger issue, this is good news, because it means that competition means it will be better prices for the consumer, for business, economc growth all aroun the fact is that the sauis have something to be worried about. the united states has, in fact, surpassed them in oil extraction. that is making things tougher for them, but i think the fracking industry and natural gas are here for long term. we don't have t to worry about
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biotene -- so i can reach ally bank 24/7, but there are24/7branches? it's just i'm a little reluant to try new things. what's wrong with trying new things? feel that in your muscles? yeah... i do... try a new way to bank, where no branches equals great rates. . and we are back wit stable stocks in a very unstable rket. emac, abbott labs. >> and m & a target drug division, upward flow six years. >> and focus on it first. if it's an m & a target, the stock could really spe gentleman. >> maybe. epy stock good for heart patits. no rick that a sudden spurt in the stock price ll make your pulse go up. >> talk about sleepy stocks, chevron, sounds like a sleepy stock to me. >> no, no. gone upa l more. definitely a sck for people worried about rising dploogasol
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pces. >> no way. hasn't moved in three years. this sck is stuck where it was in 2012. >> contraan notions today. hank you. that's it forforbes on fox." thank you for watching. have a wonderful weekend. keep it right here.the numberne ntinues with "cashin' in" and eric bolling. ctrollg the contaon as ebola scares keep popping up in america. a majority of americans want t ban flights from the ebola breakout zone, since we can't tru our government to do it or anything, we the people are starting to take matters into r own hands. plus -- higher education shouldn't be a privilege for those able to afford it. >> now hillar to hypocrite. mrs. clinton raking in a cool $225 grand for a college speech about, wait for it, soarining llege tuition. making it obvious. the president's hopeful drowning in hypocrisy and en -- >> a tree felln blake abbot.


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