tv Cavuto on Business FOX News September 13, 2014 7:30am-8:01am PDT
walmart introduced a dress code. makes target's casual fridays where you can wear jeans. >> okay, to the well-dressed neil, next. going to war, going to broke. hi, everybody. i'm neil cavuto. they are calling it a call to arms and a call to cash. the president looking for another five days to fight isis. chances are he'll get it. chances are, a lot of politicians will sneak in more spending on thing that is have nothing to do with it. have you had enough of it? i'm with adam and shirley. here we go again. at least anywhere from $3 billion to $6 billion and other initiatives that have nothing to do with isis. >> that is going to happen.
i don't know if we can guard against it. left's talk about the fact the military is cut to the bone. it's been decimated. people in the country think freedom is free, we can drink lattes and nobody will harm us. having said that, there's a lot of pork. commanders say we don't want and senators say it's in my district. there's enough money to fund what we need to do but there is a red flag we need to stop military spending. >> $5 million, there are other means to get the money and look at alternatives. what i see happening and every time we see something like this, it's a great chance to run for the pot and get more money for the pot. >> a great chance to call out individuals who are looking out for themselves and not the nation. and not our own safety in this country. $5 billion for isis. we know it's going to be more than that. you need to end the request for cuts on defense spending and even though the president says no boots on the ground, look
back at the two, you know, the 2007 surge in iraq, special forces there. it's going to require a lot more. billions more than anybody is talking right now. >> we should point out the american people love pork. they love pork. >> they love their pork. >> they love their pork. >> that means they love pork. what the congressmen are doing is what their constituents want. i don't like it as a fiscal conservative. this is what the american people vote for every year. >> if you are a fiscal conservative, why do you have a goatee? >> i'm imitating this week. >> you are saying you are against this thing. you are justifying it but understanding it. >> you have to. this is just democracy. this is what the american people want. they want pork. i hate it. i think it hurts the country. the other story is we shouldn't
have to spend this money for this reason. we should spend more money on defense now that the war -- it's been proved to everybody, including a reluctant president, the war on terror continues. there is a war out there. he has to fight it for the rest of his term. >> ben? >> adam smith said it well, defense is greater than opulence. defense is the number one priority of this country. defense has been cut to the bone. sequesters and disaster. we have to spend more. $5 billion, if it's 50 million or 500 million, whatever it takes to stop them from overriding the middle east, africa, whatever it takes to stop the terrorists from running amok building oil rich base. whatever it takes is where we have to stand. by the way, $5 billion in a context of an economy of $17 trillion is absolutely nothing.
50 million would be nothing. mr. obama has gone way too far cutting defense. i welcome him seeing the light. >> that's getting the allocated goal. adam, what do you think? >> that's true. that's true. >> well, i wouldn't choose any of the words ben used other than we need to spend what it takes to fight this. that, i absolutely agree with. at a time like this, we shouldn't be quibbling over $5 million. we are actually approaching a moment of national unit where a congress and country largely agrees with president obama. >> that's when it gets dangerous. under the umbrella, everyone is kumbayaing and the need to go after bad guys, they are sneaking in other stuff that's not good. >> stick to the fact -- we have
to spend $5 billion. the military budget, the military should be strung up that we don't have to spend this money. it should be ready to go right now. >> you mean we don't have to request that money? that's what you are saying. >> the military should be strong enough. >> my point is -- my point is, i think ben understood what i said. the military should be fully funded. >> i think you were condescending. >> the military -- condescending. >> yes, it is. >> i'm imitating the french people. i just want to say the military should be fully funded, not go to the well to fight. >> we are going to sneak in the other spending. >> absolutely. by the way, the democrats on board with the plan, if they weren't, they would want to spend the money here in the united states. >> now they have great cover to
do so. >> adam said the american public and congress were on board with president obama. it kind of worked the other way. the president jumped on board with the american public. we'll let you go on that one. >> better late than never. >> listen, the christmas tree phenomena that was talked about earlier -- it sickens everybody. i would love to see the politician that can run a campaign and say we're not going to build a bridge to nowhere. i don't want to change the topic of the show. >> as a nation, we can borrow money for 2.5% over ten years. the yield hasn't been at 3% this year. it's like financing, get the money while you can. >> you know what's weird about that, ben stein. a half trillion is like skating
free here when, you know, after five years it's one thing. that half tril lion is added to the debt and away we go. >> i agree with you. we absolutely do not want to have terrorists taking over the rest of the world and threatening the united states of america. any amount that has to be spent for winning the war. we want the best possible weapons for our men. if we can spend money instead of blood, let's do it. we didn't quibble in world war ii, let's not quibble now. >> what about the defense? >> we don't want them to spend on it. spend on defense. >> they are. >> you know -- if i may say so, if they are going to waste half of it, give them twice as much. >> i agree with neil. the good news is, we can afford it. there may be a day we can't.
that's the good news. >> we are the tallest in the room, once again. >> there's benefits to that. >> as a percentage of our economy, it's 4% to 4.5% spending. it's not a stranglehold on the u.s. u.s. overall defense spending for gdp was 4.4%. >> i can hear viewers clicking off their tvs right now. >> what ben is saying, though, we all agree, spend the money, but the goal should be to win. we should go in there to win. >> oh, god, you want another war? >> no. >> we already have a war. we already have a war. we already have a war. >> a whole other discussion. >> when we come back, ben is going to get into how the defense builds up against the gdp. in the meantime, the forbes
gang. all the details. something we can do here in america to take isis down right now. and take this guy down as well. that's in a few minutes. next, they might be blocking streets, but are protesters also blocking jobs and not just their own? man: i know the name of eight princesses. i'm on expert on softball. and tea parties. i'll have more awkward conversations than i'm equipped for, because i'm raising two girls on my own. i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. at od, whatever business you're in, that's the business we're in
a lot of companies might answer "um" or "no comment." then there's esurance. born online, raised by technology and majors in efficiency. so whatever they save, you save. hassle, time, paperwork, hair-tearing out, and, yes, especially dollars. esurance. insurance for the modern world. now backed by allstate. click or call. live from america's headquarters, good morning. three navy ships scouring for a missing pilot after two fa-19 hodown. one pilot was recovered and taken back to the uss carl vincent. search teams have not spotted the wreckage or have clues where the second pilot has gone. the navy is investigating the jets that are down. the u.s. telling citizens in
uganda to seek cover after uncovering a terror plot from al-shabaab. they are discovered in that country. the group called for revenge attacks after u.s. drone strikes killed their leaders. all u.s. citizens are told to stay indoors or in a safe place. we go back now to cavuto on business. what good is a hike if more just take a hike? new numbers are out and the chief money guys that call the shots say that america's companies could be in big trouble if that minimum wage goes up. it will result in a lot fewer jobs. a survey of chief financial officers. a guy that tells the ceo the good and bad news.
>> it echoes every other kind of survey thinking like this from both sides of the aisle, you will lose jobs. more than losing jobs, to me, the worst problem is you are telling young people, don't try harder. hey, you can't do better. this is all you can get in america. this is all you are equipped for in america. we can get you more money. other than that, you don't need more money. >> any hike -- take this debate off the table. >> you can argue, you know what? from the first time it was an accident. it would be about eight bucks right now. pick your spot in inflation. i would say the free markets are determined. it's a good argument for lowering it so more people get in the job market, get their feet wet, learn a skill and work up the ladder. >> when you show pictures of the labor movement, people are being arrested. you can't get appealing pictures
of the labor movement? >> that was your goal last week. >> okay. >> are you trying to have your left appearance on this show? >> just kidding. listen, here is what i would say. if the liberals in academia are saying the minimum wage is bad for jobs, you know it's really bad. this debates from any sort of perspective or intellectual perspective. it's over. it's politics. >> i think we can afford a small hike in minimum wage. >> what good is that going to do? >> hear me out. my view on this, i think that to demand it be doubled, $15, it doesn't take a brain surgeon or someone with an mba to decide that's a bit much. it's too much at this stage in our recovery. they have to go to their boss and say we can't cut it. if this happens, we have to cut
back somewhere. mcdonalds is now automating a number of restaurants down to the cashier line. >> this was a survey of financial officers done by -- >> are you sure? >> business school at duke. so, the crazy liberals -- >> a business school at duke is not exactly populated as economics. >> the finance chief they surveyed. >> i want to jump in here. >> if fact they did this -- >> the survey says exactly what neil was pointing out. if you raise minimum wage to $15 an hour, half said we are going to cut benefits, raise prices and lay people off. >> think about -- my point is, when -- i'm glad you know what the schools name is -- >> if you are southern ucoi.
>> it's not the home of adam smith economics doing this survey. >> let's go to another adam. what do you think of this? >> you put your finger on it. you said there ought to be a minimum wage raise. why? charles doesn't think there ever should be one. i think we should call it what it is. a negotiation. labor is negotiating. they say 15. the cfos are negotiating because it's better for wage cuts to be lower. they have to do this, that and the other thing. >> starting high. you think they are starting high, $15? $10.10 we'll be happy. >> the markets should set the pace. >> the market is not sufficient. ask neil why he thinks there should be a raise. >> i think what makes this become the drama every time this issue comes up is that if we do
inflation, i don't know what measure you are going to use. take it off the table. you address more fundmental issues in the interim. what do you think, ben? >> it's a fine idea. i like the idea that we should take the protesters word for anything. protesters like to protest because it's fun. it's more fun than working, studying or being on facebook. it's fun to be out there. they are being paid by the unions to protest. the fact they are protesting means nothing. on the other hand, minimum wages are very, very low. also, but, if economics mean anything at all, jobs will be lost. i think charles made the best point of this that anyone ever made, get more skills. don't protest. don't hire people to protest for you. get more skills then your wages will go up. >> you are right about that. >> you want to incentivize people. >> give me $15 an hour, i may
never go to community college. >> when we come back, apple is not worried, but should you be worried? you know what my business philosophy is, reynolds? no. not exactly. to attain success, one must project success. that's why we use fedex one rate. their flat rate shipping. exactly. it makes us look top-notch but we know it's affordable. [ garage door opening ] [ sighs ] honey, haven't i asked you to please use the --
we don't have a reception entrance. [ male announcer ] ship a pak via fedex express saver® for as low as $7.50. [ male announcer ] ship a pak via fedex express saver® starts at 6:30 a.m. - on the (vo) rush hounose.und here but for me, it starts with the opening bell. and the rush i get, lasts way more than an hour. (announcer) at scottrade, we share your passion for trading. that's why we've built powerful technology to alert you to your next opportunity. because at scottrade, our passion is to power yours. coming up, apple makes it easier to spend. maybe too easy? maybe it leaveses @j
all right, they're making it way too easy. apple may want you to tap it and forget it, but guess what? you still do have to pay for it. the system that makes it very, very easy for you to spend, spend, spend. are you worried? >> i'm very worried about it. it's a really serious problem. i would like to be a tap and invest, where you automatically get yourself invested in spdrs or some other sensible things, build up funds for college, for retirement. tap and save, tap and invest. >> i think disney does a variation of these -- they make it so easy for you to spend. you know those darn turkey legs, one time i ordered like 14,000 of them and i realized i was billed for that. it's so easy.
>> thousand were they? >> they were delicious. that was just for me. kids kept complaining, can you share? >> i'm envisioning 14,000 turkey legs. >> you don't know in the moment and then you get the bill. >> everybody needs to learn some self-control, i say. >> another one making their dig. >> i think it's genius, the way of our digital economy. i have run of hundreds of dollars with candy crush. that's my crutch. i've reformed, so i don't play it anymore. i have to buy the cheats. >> once is enough, and -- >> the vendor know that. >> that happens with people with porn. i've heard that. in any event, i will say this, i love that the liberal lefty frames in silicon valley
embracing the most disgusting part of our consumers economy. this is what it is all about, making it easy to spend a lot of money. the liberals in silicon valley is bringing us the technology. >> how different is it from itunes? making it easy, simple, convenient to buy music? >> the revolution was the credit card in the first place. this is the cool incremental thing. remember, also, these are expensive devices. >> it will. it's meant a lot more revenue for disney, just from me. >> i was talking about apple. >> this is the way the world is going. >> yeah, you know, i think like the average household is still stunned from the great recession, but this summer i had to take my son's debit card. in one day he used it like seven times. it's like man, you've got to go broke. >> the thing is charles is only 7 years old temples i said, make
your lunch and take it to work. i bought some lunchables, and he refused to take them. i had to eat them all. >> i want to thank -- i am liking this. very nice. what do you think? >> really? you're asking me? >> i am, right now. >> i'm just thinking what your porn name would be. up next, saving more for college. are you saving enough? the average 429 savings plarnt order worth about 20 grand.
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s.p.y., go with the indexes, you can almost never beat them. just go for it. longer term, you like this market. >> longer term, your lifetime yes, my lifetime maybe no. >> oh, stop. it continues now. hit i isis and putin where it hurts while helping americans here at home. pump more oil in the united states and export it overseas to push down energy prices eve everywhere. ronald reagan did something similar to that. would it work again? welcome to "forbes in focus." sabrina, does it sound like a good idea? >> it sure does. not only would it bring the cost of oil down here at home, but putin's regime is largely made up of income from his oil