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tv   Your World With Neil Cavuto  FOX News  January 15, 2016 1:00pm-2:01pm PST

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raise your expectations. ask your gastroenterologist about humira. with humira, control is possible. so what are you guys doing? we have been just waiting. welcome everybody, i'm neil cavuto and this is "your world" from charleston, south carolina. just from outside the arena to give you a post-debate take on everything that has been going on because less than 24 hours after we were talking about everything and these candidates were talking about a different view of the economy and market than the president outlined, guess what happened today? this is what happened today, a huge selloff, and believe me, that is off the session highs. for a while we were down 540 points. suffice to say with the dropoff today, 2.4% in case your counting, that represents about
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11%. if that sounds familiar to a lot of you, might have heard the candidates, well, it should, because they were saying, and bringing up the possibility that ççç pree worse things to come. it is interesting to note that for the two weeks we have had of trading in the new year, go back in history, you'll find no motherrer or tumultuous start here in american markets ever. that's right, ever. the dow from it how, down 11%, into correction mode. the nasdaq from its high, that represents a correction. where the s&p 500 down 12%. i always focused on the markets to let you know that we're not that far from bear market territory. if you were to start cutting apart the market averages you would realize over half the stocks are well into bear market territory which means dropping 20% or more from their highs. what was doing this? cheap oil. you love the cheap gas prices.
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unfortunately the markets see. the as a reflex of the whole economy globally is slowing down. a barrel of oil today is $29.42. gerri willis picking apart the cross-currents. what you got? >> you're right. oil is pushing the markets down, and as you3sç said, we have haa bit of an improvement from the point we were at 537 down on the dow. all the dow stocks now down but closing around 391 points down right now. other issues driving this market, we had some bad economic news. retail sales coming down a tenth of a percent for the month. that's not good news. we also had a manufacturing index, the empire state manufacturing index, its lowest level today since 2009. people are paying attention to this because what they're worried about, the backdrop of the conversation here, deflation, recession, what is going on? people are worried about the
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lack of demand for oil out there, the thing that is driving it below $30 a barrel. also you said the dow is down 13%. below record highs. s&p down 12% from record highs. nasdaq down 14% from its record highs, and trading below its 2015 closing low today. it has been a bad day in the markets andoo let me tell now jt how up forgiving the market was. five bank stocks put out numbers, earnings, eps today, including citigroup and wells fargo. the numbers were generally pretty good. no disappointments. on target or above target. and still the stocks were hammered. 5% most of the stocks were down. so even if you're in a category most people like you can get sold off on a day like today. one more thing to mention. people are getting ready for a three-day weekend, traders don't like holding stocks and don't know what china will report.
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we have seen some brutal mondays when china has a bad day before. so/dk people wanted to get out f the stocks. they did that with a vengeance today and now we're holding our breath nor next week. >> going to be kind of weird because of the martin luther king holiday and all that can get really whacky. gerri willis, thank you very much. the read from larry. china was a big factor in this, and china was a big factor in the debate last night when donald trump was talking about the back and forth, whether we get tit-for-tat with the chinese and start throwing tariffs on their goods. i want to touch on whether that would be too much too fast. >> as far as the market what he was been in a bear market for a while. the major indissees are catching up -- indexes were catching up. we have talked about it many times the transports at three-year lows even though oil
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prices crashed that should tell you what the market things of the economy. i'm sure we'll see some recessionary numbers unfortunately. >> larry, want to get your take on an exchange that donald trump and i had do -- in the debate. socks the chinese with tariffs or not. this is from last night. >> last week in the "new york times" editorial board quoted you saying you would impose up to 45% trophy on chinese goods. >> they were wrong. it's "the new york times." they're always wrong. they were wrong. >> you never said it because they provided an -- >> i love the chinese people but they laugh themselves. they can't believe how stupid the american leadership is. >> you're open to a tariff. >> totally open to a tariff. if they don't treat us fairly -- their whole trade thing is
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tariff. you can't deal in china without a tariff. they do it to us. it's not fair trade. >> who is that good-looking moderateor. >> you've mean the anchor and the guys in the suit? go ahead. >> on the one hand you have most of the voters, taxpayers, most investors recognize we don't want to be protectionist because we know the challenges that come either and that's the chord that donald strikes to. we feel like we're suckers and we want to push back against unfair trade. if the economy worked so well why would the chinese be jumping hand over fist to get their money in this country to hide the process they're devastating our economy and devastating the middle class worker. >> if donald -- i think there was a method to what he was saying. the said the 45% fy4ñ0f(pñ me. he did argue that would be the
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chinese to talk. now he lowered that figure, didn't give me a specific number but we should realize when you slap a tariff on goods, the china aren't paying for it, we are. there was something brilliant in his thinking, and, gary, if you could flesh this out. he might have no intention of ever slapping such a tariff on such goods, but he would scare the chinese to the negotiating table. what do you make of that? >> you are correct, neil. donald trump's overall message is a message of strength. the fact that we haveñauiy+ been the economy and worldwide economy, whether it comes to foreign policy and he says enough is enough. i don't think he can slap 40% tariffs on anything. that will cause price wars and will be handed down the consumer and nothing good comes out of it. to a country that has to get their house in order or else. i like it and i think it's tough talk but it's necessary talk.
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>> that's right. that's right. >> i want to thank you both. a lot -- i wish we had more time, we development. i want to thank you both. i want to get into the debate. stirred up a little bit of controversy. i want to give you a random set of reactions to the debate. one is, cavuto, you talk too much. let the guests answer your question. another comment: cavuto, why don't you interrupt your guests so they can address the issue withoutlúis'g off in tangents. another: maria bart romo is more attractive thanout. why are you there? another, cavuto what is the point of asking ges to come for a debate if you want to juster hear yourself. al writes: neil, you seem to think that just showing up for a debate is all that matters. why don't you have something to say? i heard barely a word out of you. wait a minute, you couldn't have before watching the same debate. all the nasty questions had cnn
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dot -- wait a minute. jeff block is now gauging market reaction. not to the debate but the tumbling oil prices. joe? >> they liked you better than they liked oil prices today. it's a free country. what can i tell you. you reported at the outset it ways an ugly day for oil prices, at least if you're an oil price bear. 49.4 2. maybe you don't know the price of oil in 2008, the price of oil was $145 ayjk÷ barrel. just for reference. as you said also at the outset, great news if you're filling up your car, gas prices have not decade. it saved consumers last year -- because we have had almost a year of low prices now, thanks to low oil -- $115 billion.
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it was 2 about 08 this time last year. lowest in the country, oklahoma, mississippi, and you saved money this week)v because you're in south carolina where the average is 1.69. only problem, every penny you saved at the pump you probably >> well, aren't you the bearer of great news. jeff flock, thank you, my friend in chicago. >> sorry. >> so, again, we could have a very volatile market next year but if this doesn't show you've that these stocks and oil are moving in tandem, nothing will but again, 390-point falloff today, 2.4 percent. you might have heard in debate last night that ted cruz was nature lot of pressure to prove, a., he was natural born citizen and donald trump questioning that, but there was a certain shoutout that the texas senator gave to a guy named art laffer, a reagan apostle, many say he
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was the inspiration for the big tax cuts. people are saying, art laffer, has to be 140 years old. 138 to be exact and he is next.
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jeb bush. he's a leader, so you always know where he stands. right to rise usa is responsible for the content of this message. >> i would note that art laffer, reagan's chief economic adviser has written possibly my simple flat tax is the best tax plan of any of the individuals on this stage because it produces economic growth, raises wages and helps everyone from the very poorest to the very richest. >> and we verified that. art laffer says that is true him likes the texas senator's plan the best. and he joins us now. a big reason i would we had the tax cuts and the booming market that followed. good to see you. >> good to see you. >> why his plan. >> some of them are similar. every candidate has a good plan.
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i love donald trump's, rand paul's was great. ben carson has a terrific plan as well. so -- >> and rubio still has high -- >> he has high -- too many child tax credits and -- >> you don't like it when it gets all weird. >> not rewarding people for working. tax codes should raise money. if you want to help children, give them a check and be transparent. don't try to hide it in the tack codes and not do -- >> he would keep the irs going and all but the argument is that whatever you use, you're going to need some -- >> someone has to cash the checks. but you can really reduce it dramatically. you can eliminate almost all of the audits except for real cheats. so if you have a flat low-rate broad bassed flat tax, there's no ensign testify to fin nagle where you pay your tacks, what kind of income, capital gains and all that. so it's neat the way ted cruz has done it.
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>> we chat about this. the. way we can get big tax reform, obviously, is with a republican coming in, a republican congress. i'm not casting political aspersions but the two-> you're right. >> -- 97 to 3 be patted in the senate. every democrat voted for it except for simon and -- al gore told me, the best bill he voted for, led to 25 years worth of prosperity and he is right. >> in other words, would that happen if hillary clinton were elected and we had a republican congress? , i don't think hillary -- you wouldn't have got anyone of the democrats. mondale wasn't have done it. with reagan, working with him and making it clear, they saw it
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was a great tax plan. >> we have heard tax reform, lower rates under ronald reagan but it's been a generation. >> since 1913 when the tax coded were put into effect. and at that time, seven percent rate was the highest rate. by 1919 it was 70%. >> so you like cruz's plan. >> the other candidates plans are good, too. i don't want to disdid the others. what you'll see happening is this egg going through a long process. a secretary of treatersry, 7 days ago, phil wasn't thinking about dancing.
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i said before that anyone can look at a debate through their own bias but when i hear a story and a series of lies that is repeated and repeated and tweeted and then re-tweeted, it begins to getyçç my attention, especially something that hit the liberal blogosphere that i apparently in a question implied that probe barack obama was to blame for the financial crisis that actually happened before he became even president. i wondered what triggered that. and they point to this question that i asked.
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i want you to hear anything that implies that i blame the financial crisis that barack obama inherited on barack obama. listen to this. >> senator kashich, we are not even two weeks into this stock trading year, investors have already lost $1.6 trillion in market value. that makes instant the worst start to a new year ever. many worry that things will get even worse ask that banks, the financial stocks, are particularly vulnerable. if this escalates like iodine the same thing happens all over again just as in this example, you are taking over the presidency. >> did i blame the president for that crisis? no. what i was saying was that with huge market selloff, much as we were looking at the middle of a
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meltdown, in the last year of the bush administration. that senator barack obama, once elected president, would be inheriting, taking over, when he was inaugurated president. my point was then and to stress now that he would be taking over as president in the middle of what would be a market meltdown, not of his doing. i wasn't blaming it on him. so, for people to reconstruct like "the new york times," media management, left-wing sites, i manufactured a crisis and limped it on the president, the same president, i had reminded my republican guests, had seen the unemployment rate cut in half under his stewardship and millions of jobs created. i wasn't framing any economic argument to benefit either republicans or democrats. i was simply saying to the people on the stage that in this case, particularly john kashich, what would you do if what we're looking at now ills the beginning of -- is the beginning of a financial crisis that onç january 20, 2017, you would be inheriting much as barack obama
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was inheriting back then. now, if anyone can divine political motives to that question, you're an ass. all right. but i digress. now i want to move on to other things here, including lieutenant general michael flynn on the growing issue of terrorism. and not calling radical islam for what it is. gentlemen, sorry if i seem short-tempered. two reasons not that. a horrible hotel. it was like i somewhats stationed at gitmo, but you know me, general, i'm not a whiner. the other issue -- >> close associates would have a difference of opinion on that. >> i hear you. i think you're right. general, let me ask you about the fact that participants were saying, rad clallum, radical islam, we have no problem saying it. what do you think? >> so, the next president of the united states, and first of all, great debate last night.
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i watched the whole thing and was struck by the -- >> thank you very much -- >> the quality of the questions the next president of the united states of america has to project a moralm) resolve that is matchd by the physical power of the united states, and that physical power is economic, it is diplomatic, it is political, it is informational, and it is military. and i think that when we -- so, at the strategic level, i think at the tacticalhjj/&ñ level ands definition of the enemy you cannot defeat an enemy you do not define,i've spent 33 years e as an intelligence officer. defining the enemies for my commanders and leadership, and if i ever went in with this, as waffling an answer as i've heard on trying to define the enemy momming out of the current administration, i should have been fired. so, we can -- >> general, one thing i wanted to get clarified, though. one thing that camet÷%l4+u up w,
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regardless of what you call it, radical islam or what -- radical islam. >> how do you liken the isis battle today. he president says it's not like taking on germany or japan. it's more like a rag-tag group of guys meeting in their garage, whatever he said. how do you define and it how we should go about fighting it. >> that's completely incorrect on your latter sort of how you explained that. i know you're using what others are saying. this is not a rag-tag group of people in -- log bathrobes, a very doning, agile, smart, enemy and it's just like the otherrisms we failed in the 20th center. fascism, imperialism, communism, naziism. had we lost to adolph hitler during world war ii we would be praying at the alter of naziism. thissism ills radical lahm jim -- radical islamism, and
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it's cancer and it's wrong to call it anything other than that.bz% other than -- definitely wrong to call it criminals or other names. call it what it is, very beneficiaries, barbaric firm of radical islam and we're going to be at this for a long time. whoever the next president is, as i said earlier, they're going to be dealing with this the entire time -- we have seen all these attacks, most recent attacks, like the one in jakarta, an interesting one and the choice of targets, in a starbucks. you don't see all the other attacks -- i traffic this stuff. many attacks going on. this is a global fight that they have chosen and they are fighting us. they're fighting the west, principally the united states of america. so we have to stop kidding ourselves and i'm glad to hear in the debate, i think a very -- a much more frankly intellectual dialogue and some better discussion about what it is
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we're facing and recognizing it for what it is. it's a long-term problem and we have to have the moral authority and we have to be able to project the power this country can across the board. just not doing that right now. >> understood, general. thank you very much for taking the time. one other quote i want to read you, folks. this rescue of the banks is perhaps the biggest and riskiest sham i have ever covered for. for the president to be considering this now is emboldening others to have their hands out andtip cups out. this rescue -- and tin cups out this rates and bailing out the banks is a huge mistake and the president will regret it. that was me, talking about president bush(p$"?@ and the bankruptcies and the rescue of the banks. not president obama. so, you left-wing sites, get your act together. we'll have more after this across america, people like basketball hall of famer
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i don't know if it's a good or bad thing the stock market its closed on monday because you'll get other volatile market
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in asia on monday and likely see potentially another big selloff in china, which affects. asia which affects europe and would affect it bus we won't be able to tried on it. the only good news is can tell you it was worse. down 540 points. that's how bad things are, we are grateful it was only a 39-point hit in the market. the question i posited at the debate, what if we're looking at the start of the meltdown or something that can drag through the year and the new president has to deal with that just as he or she is coming into office, which was my only point, with that question, and a point i want to raise with a guy who could be in that position, rick santorum, the g.o.p. presidential candidate. senator, that was my issue. what do you do if we are in a meltdown and you are assuming the presidency on january 20, 2017, and people are saying, all right, you got to do something to stabilize or support these markets. what does a president saner to
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rump do? >> -- saner to rump do -- president santorum do. >> i'm concerned about a meltdown around the world right now in addition to -- time talking about national security in addition to a meltup domestically and probably somewhat tied to each other. you have to get the economy growing, and i've talked about this from day one. we put together a plan, a regulatory plan to eliminate excessive regular layings, reduction in tacks. art laffer mentioned plans he has reviewed. he called mine an exceptional one. so -- which with his -- a true ,( a forbes flat tax -- >> he liked senator crews' better -- cruz's better. >> if you look a vat tax, that's fine. i don't like a value added tax and that what ted cruz's tax is. that would be a mistake to give the federal government a hidden tax.
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it's a hidden tax, enormous tax. >> i don't want to get veered into that kind -- if you don't mind, senator, but i want to say what a president coming in the middle of the financial crisis as barack obama was, you have to ask yourself how do you restore confidence, tell people it's going to be all right, now, he was following up on efforts of the bush administration -- >> look -- >> what would you do? >> his response was to pass a stimulus package, which is a huge mistake and his response was to continue to bail out -- continue the auto bailouts, another mistake. from the very beginning i was against the bailouts, den. >> you felt that why win president bush was for those bailouts. >> yes. >> pressure brush was -- okay. that's fine. >> bank bailouts, auto bailouts, i was opposed to all bailouts and was vocal saying so. i'm going to focus on how we can get this economy going by unshackling the economy from the
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regulatory burden it's on right now, unshackling the economy from the tax burden it's under right now, and i agree with donald trump. i think we have to look at our trade policies and i'm someone who voted for free trade greats but also voted against free trade agreements. i voted against nafta because i didn't think it was good program. we need look at all of those in order to get the economy up and going again. >> senator, always a pleasure. you dade great job last night. thank you again. >> thank you, appreciate it, neil. >> rick santorum. donald trump had a moment as well in his debate but it wasn't for what you think. not for any fury or bombastic performance but a very poignant momentum, when you hear donald trump and poignant, the two words don't go together. you might think differently right after this. you do all this research on the perfect car.
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or pro gay marriage, focus around money and the media. >> when the world trade center came down, i saw something that no place on earth could have handled more beautifully, more humanly than new york. everybody in the world loves new york and loved new yorkers and i have to tell you, that was a very insulting statement that ted made. >> even people who aren't big fans of donald;:ñç3 trump are sd in their tracks, stunned. friends who don't necessarily find donald trump their cup of tee, but especially in the new yorkers among them, they were turned and staggeredded by the roarks and some said, who would have known. pat buchanan, your thoughts on that. >> well, i think you're right. i think what ted cruz was trying to do is what jean kirkpatrick did at the 1984 convention of the republicans where she referred to san francisco democrats a number of times and people laughed and cheered, but you're right, neil.
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when folks think of new york now, and what is the image, and a lot of us think of the illinois as farm and running -- image as farm and running into a burning building and climbing upstairs to rescue people when there's a good probability the buildings will collapse on top of them, which is what happened. so, i think that it was a tin are ear -- tin-eared comment by senator cruz and will pay a place for it and was donald trump's best moment in the debate and one reason that a number of people say it was his best debate and he won it. >> well, i've heard the same thing but a lot of people say, well north fast on ted crazy, that he might be clever like a fox. this was his exact intention and to remind people in southern states that has little regard for new yorkers. i'm not saying they're heartless when it comes to 9/11 but they do by and large accept the line that the senator raised about the liberal media, clueless elite class and that's what he
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hopes to pounce on in places like iowa and later in the southern states like here in south carolina. what do you think? >> i don't think it's working because donald trump is very, very strong in south carolina, secondarily, trump's support is really much more working class and middle class than it is wealthy elite new york types when you think of wall street and the beautiful people and the lack like the beautiful people. i think donald trump is clearly improving as a debater, and i would raise another issue. he really showed passion and fire also on the issue of economic patriotism and economic export of american jobs, and it's clear from the comments of governor kashich and others, who are partly agreeing with him, he is driving the party in that direction as well.
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>> he certainly driving the agenda, and i think that the difference to your great point, pat, with the 9/11 remark he showed a measured kind of a response that we normally don't attach to him and has been prescient on these developments. others say he lucked out but he is driving this agent, and a lot of people think after last night, maybe on the way to the nomination. what do you think? >> i believe that february will decide it. look, i think in order for anybody to stop trump right now from getting the nomination, cruz will have to beat him in iowa. he will have to underperform in new hampshire, and then the south carolina crowd down there, which wants to stop him there, i think the governor down there, and senator lindsey graham, and trey gowdy and all the rest of them have to trip him up down there otherwise february will be decisive. i think if donald trump wins iowa or wins new hampshire
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dramatically, i think he wins the nomination, and i the market -- if that's a lead indicator, this country ills headed for the kind of trouble that it certainly had in 2008 which cost the republicans the election. >> you could be right. pat buchanan, thank you. i have a feeling -- the family leader ceo who made it possible for ted cruz to be in the position he is in iowa might disagree. he is coming up next. hey sweetie, it's time. ♪ eye of the tiger tv anncr: good afternoon everyone. morning rituals are special. when you share what you love... ...with who you love. kellogg's frosted flakes. they're grrreat!
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coming to you today from south carolina where we're wrapping things up after spending the week here with the big fox business debate. whether it moved any of the chess pieces of prospects of
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candidates, most people seem to think that donald trump and ted cruz maintain their top positions. others might have made some progress. bob is the family leader ceo, very instrumental in putting a certain ted cruz on top of that group of candidates in iowa. now what does this mean going forward? bob, always good to have you. what do you think now? there's a lot of pressure on your candidate, maybe as a result of this questioning back and forth, and whether senator cruz is a native-born american citizen. other senators said, it's worth looking at. is it going to hurt your candidate? >> i don't think so. i think ted cruz had a great debate last night and answer answered all the questions. i think he dominated the debate that. i tecked ted cruz last night. first of all you did a great job. i said to ted you just made our
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job easier in iowa. this will be a tight race going down. we have 17 days and a few hours left before the iowa caucus vote but the debate performance ted cruz showed last night, i think reminded everybody he is ready to be commander-in-chief. >> do you think he might have botched it on the 9/11 thing or by design did that help him in states like iowa, southern states, 9/11 notwithstanding, folks not keen on numberers. >> i thought -- on new yorkers. >> i thought donald trump did a great job and reminded everybody why we love new york and the american spirit they showed on 9/11. ted cruz was referring to new york city politics. the 212 area code, saying get out of the area code and get to some common sense conservative values itch think that will help him in iowa. we get talked about having iowa values. which is pro family, pro faith, pro education, do unto others.
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that's a real compliment to us. so ted cruz, i don't think he made my disparaging comments to those victims of 9/11 or what new yorkers went through. i think just saying the politics are different in new york than in other parts of the country. >> let me ask you, bob. a lot has5y]ç been said of other republican winners of your state who you helped propel to victory in your state. certainly mike huckabee comes to mind in 2008 and rick santorum but they don't have an operation in place to capitalize in other states. does ted cruz? >> i believe it's different in 2016. i think huckabee is better than mccain and -- but ted cruzaxstas a heck of an infrastructure just not a in iowa but across iowa borders into new hampshire and south carolina, never do the sec primaries. i think if ted cruz can win iowa and i hope and pray he does, but
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if he wins, you're looking at him being the nominee. i think iowa is that important, neil. >> easily the single greatest debade i have seen and that male host, what a hunk of burning love. signed mary cavuto. get out of here. more. what hand in this billing and its preliminary i can indications after this. in an equity summary score that consolidates the stock ratings of top analysts into a single score... and $7.95 online u.s. equity trades, lower than td ameritrade, schwab, and e-trade, you realize the smartest investing idea isn't just what you invest in,
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and click to activate your within. marcoto criticize him fornfair missing votes. "but i am going to miss votes, i'm running for president." but he's been missing votes for a long time. "one third of all of his missed votes in 2015 were missed before he announced he was running for president." over the last three years, marco rubio has missed more votes... than any other senator. washington politician marco rubio. doesn't show up for work, but wants a promotion? right to rise usa is responsible for the content of this message. hard to believe it is all over, but it is. whether history or this republican presidential race has changed, well it's anyone's guess. but we know that a lot of memories were made here and maybe a lot of very powerful points that rejiggered the chess board a bit. take a look.
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>> welcome to the sixth republican presidential debate of the 2016 campaign. i'm neil cavuto alongside my friend and co-moderator, maria bartiromo. >> on tuesday night i watched story time with barack obama and i got to tell you, for the life of me i have no understanding why the president thinks that everything is going well. >> you do not agree with the president. >> no, and worse yet, to be honest with you, hillary clinton would be a national security disaster. >> our country is a mess. >> she gets elected, he had first 100 days, instead of setting an agenda, she might be going back and forth between the white house and the courthouse, we need to stop that. >> how do you attack a network that does not respect national borders? >> well i'm very happy to get a question this early on. i was going to ask you to wake me up when the time came. >> i know i'm out of time. but i'm going to take some of rand paul's time here for a second. [ chanting ]
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>> all right. the u.s. constitution says only natural-born citizens are eligible for the office of president of the united states. stop me if you've heard this before. >> neil, i'm glad we're focusing on the important topics of the evening. two parents born on u.s. soil, under that theory, not only would i be disqualified, donald j. trump would be disqualified. >> but i was born here. big difference. >> rising poll numbers. >> because now he's doing a little bit better. no, i didn't care -- >> trump way up, cruz going down. i hate to interrupt this episode of court tv, but the real -- >> you called president obama's executive orders on gun control unconstitutional. and completely insane. >> yes, i did. i am a second amendment person. >> the second amendment is not
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an option. >> the world share as common enemy right now in the way of isis, russia, the european union, saudi arabia, iran, china. we all agree isis is a threat and it must be stopped. only the united states of america can lead to defeat isis. >> there's no question that isis is a very serious problem. >> what we need to do is destroy isis. >> with all the problems all over the world. i just left indonesia, bomb, bomb, bomb. we have a serious problem. we can't be the stupid country any more. >> donald, could i -- i hope you reconsider this. >> i want security. >> do you agree that we should pause immigration? >> i've been for pausing on admitting the syrian refugees. we should take no syrian refugees of any kind. >> that suspends all refugees from nations that isis or al qaeda control significant territory. >> one of the biggest fiscal challenges facing our country is our entitlement program.
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particularly social security and medicare. >> let me address the tax issue because it's related to the entitlement issue. i'm not going to have something that ted described called the value-added tax. >> marco has been floating this idea for a few weeks now. >> i would like to interrupt the debate on the floor of the senate on to actually answer the question you asked. this was the question on entitlement. and the reason, and the reason now you had your chance, marco, you blew it. >> with the last back and forth between two back-bench senators, it explains why we have the mess in washington, d.c. >> we are here in what they call the spin room. >> did a reasonable job of keeping the rowdy group under control. >> had an issue at issue of whether you're a citizen or not would come up. it looked like you guys had this bromance thing going on. is the bromance gone? are you two, do you hate each other now? >> for my end i like donald. >> you got to interject. you got to speak your mind. you got to say what you believe. >> i'm throwing it out there.
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>> you're the best. >> good seeing you. >> we were elegant last time. i guess we weren't elegant this time. >> were you elegant. >> no surprise, donald trump continues to be the most talked-about candidate. >> did they say anything about me or? >> yeah, they loved you, neil. >> you're lying. all right. we're done here, one last look at markets if we can. we had a major sell-off to end the trading day and the week. but never have we had sufficient a rough two weeks for the financial markets, with the dow 391-point hit today we're seeing the sharpest selloff for the opening two weeks of a year in a market ever. ever. and we have the odd situation where the markets will be closed for the martin luther king jr. holiday. a lot of you have been asking where did the money go? well a lot of it went into bonds and treasury notes. so interest rates actually this week went down. so if you, the wherewithall to buy a home -- it went down.
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because interest rates are lower, and for 15 and 30-year mortgages, a lot lower. that will do it. see you back in new york. is hello, i'm dana perino, along with kimberly guilfoyle, geraldo rivera, eric bolling and greg gutfeld, it's 5:00 in new york city, kimberly has a buffet, and this is "the five." 4 . only 17 days until iowa and the gop presidential contenders ratcheted up their battle for the nomination last night in charleston. there's a ton to react to. let's begin with one of the most dramatic exchange of the night when ted cruz turns the tables on donald trump over the issue of his citizenship. >> the birther theorys that donald has been relying on, some of the more extreme ones insist that you must not only be born on u.s. soil, but have two parents born on u.s. soil.

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