tv Your World With Neil Cavuto FOX News September 19, 2013 4:00pm-5:00pm EDT
beer gut. right? first they loved ben bernanke buying the bonds and now they don't like it much. they're down .41. anytime for shepard smith. that's it for "studio b." "your world" starts right now. >> neil: you do it, i'll veto it. ahead of house republicans voting to defund the healthcare law. the president saying it's going nowhere fast, and even carl rove says it's a no-win for republicans. now >> welcome everybody, i'm neil cavuto. here's how song industry tim griffin feels about defunding obamacare. he does not care whose feelings he hurts, even those within his own party. ted cruz and mike lee were all
but at hiding defeat, the congressmen all but tweeted they were quitters. quoth here, so far the republicans good at getting facebook likes likes and town h. to the congressman, whoa. you start something because they're holding press conferences dialing back what they said. what do you think? >> well, fitter of all, i would never tell anybody where they can go. look, and i read karl's article. he didn't say that general idea was a bad one. he said a shutdown is a bad idea. look, i'm from -- >> neil: to be fair he said the idea that make much progress trying to defund thing this going nowhere fast. a principled argument but the numbers don't help you in the senate, and the president would veto it, and far apart from a
veto-proof majority. >> he only pass bills in the house we knew the president wanted to sign, and that the senate wanted to pass, then we'd be in pretty bad shape. i would point out that we are sending several options over there, and i point out the delay of the employer mandate under obamacare was president obama's idea. if you told us that would happen two years ago we would have said no way. the folks in the senate talking about defunding, and delaying, and repealing, and all these different options, they have been asking for the ball. we're going to give them the ball and we're going to be pulling for them, and the think about the senate, which i different than the house, is in the houston, -- in the house the majority controls everything. in the senate there are certain procedural ways to give the minority some power, and the
minority can make a statement. there's no doubt that it's going to take a massive grassroots effort, and there's no doubt there's some senators like the democratic senator from my home state, mark pryor, who doesn't wasn't to vote on obamacare either way, and the same with lan drew from louisiana -- >> neil: congressman, were you specifically citing senators lee and cruz as those republicans who talk a good game but didn't really follow through? >> what i was doing is challenging the ones that talk a lot over there, and i was referring to the general press release that went out, and i was just -- >> neil: you were talking about those two gentlemen. >> yeah, yeah, the ones -- neil senator cruise responded to -- senator cruz respond. >> i will do everything necessary and anything possible
to defund obamacare. >> a filibuster? >> yes. and anything else. any procedural means necessary. listen, this is the most important fight in the country and it's easy to focus on the political back and forth. >> neil: what did you think of that? >> i'm glad he has made that abundantly clear. as far as i'm concerned, i have nope ted cruz since 2000. he was on the bush campaign when i was working to help get pressure pressure elected -- president bush elect. i've known him a long time. that is encouragement from to us say, look, you guys have to do what you have been saying you can do, or want to try to do. we've done our part and we're counting on you. >> neil: quickly, what did you think of the democratic leadership having this to say about you? >> we're not going to blink. you can't be held hostage. you can't have someone put a gun to your head and say, we're going to do horrible ridiculous
things unless you give in to us. >> this is playing with fire. legislative arsonists are at work when they start using the debt limit. >> neil: not a good week given all that's happened. what did you make of that? >> sounds like chuck assumer and nancy pelosi have been playing too many violent video games. they're talking about arson and -- they're the coarsening of the culture. i don't pay much attention to what they say because it's usually partisan high-door hyperbole. i'm not for a got shutdown. i don't them is helps us. what i do know is this. nieminen, whether it's a used karl dealer or the president of the united states, anytime they tell you they're not going to negotiate at all, that is in fact the beginning of negotiation. i've been in this town long
enough to know that there's always a possibility and we -- my obligation to my constituents is not to say we lost the presidential election, therefore i'll give up. i'm going to look for every possible angle and represent misconstituents. >> neil: did you just compare the president to a used car salesman? i'll leave it at that. a billion bucks to make this guy's bad stuff go away? bashar assad, will an offer he all but told fox news is too good to refuse. >> about one billion. >> if reddy to pay those money and take responsibility of bringing toxic materials to the united states, why don't they do it. >> neil: there is this little
matter of verifying we get all of assad's bang for all of these bill bucks, and even vladimir putin says it's unlikely all of the chemical weapons could be destroyed, but dan michelle -- mitchell doesn't men that it couldn't be destroyed. >> i say that the obama administration should threaten assad we'll impose obamacare on syria if he doesn't give up his weapons if that's what they want. but i have two thoughts about this. i'm not a foreign policy guy. i'm a fiscal policy economist. we're squandering too much money in washington. the idea we're going to pay assad a billion dollars to at least pretend he is getting rid of chemical weapons? doesn't strike me as a good deal. let's set aside libertarian principles and look at this as a practical perspective. we could probably have the cia give a couple of his generals ten million dollars each and get it done cheaper. i if assad wants to extort money from us weed in to view this in
the same way if you get a ticket from a cop for 50 tuesday and you up aer him hundred trippet up? no. at least be sensible controlling costs. >> neil: the bottom line is he is no dummy, the syrian president. he knows there's a history of this country throwing good money after bad to maintain what they can are friendships or progress in the middle east. so he is just jumping on that gravy train. right? >> well, our foreign policy people at cato can go over and over again about all the mistakes of nation-building in iraq and afghanistan. why do we want to get enmeshed and spend a lot of money in a country like syria we don't have a national security interest at stake -- >> neil: it's cheaper that way than it would be going full scale in, a strike, invasion, maybe an extended stay, that we don't want. it would actually be the cheaper alternative. >> well, if the choice is
between doing another iraq and another afghanistan, then, yes, paying a billion dollars is better. but what about just minding our own business and not getting involved in an internal fight between the muslim brotherhood and assad, and ways that have nothing to do with our national security. as a taxpayer, i don't want to waste money in ways that have nothing to do with advancing america's interests in the world. >> neil: interesting. good having you again. >> thank you. >> neil: raising the debt ceiling doesn't mean racing the debt. the president said so and says the average person knows that to be. so i want you to think of an average person here to say, not so. clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their live webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like everybody.
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must mean we're running up our debt. >> neil: to the banker who thinks that is have -- says average people know how to live within their means and don't have the freedom to whip up money out another thin air. you're saying the president is full of cheesecake? >> hot air. a little ammonia. boiled eggs. come on. >> neil: you don't buy that. average joe, trying to run a business, money in, money out. so that didn't jibe with you. >> you know what got me the worst? i'm just an average joe, neil. america, you're just average. don't you understand? if you don't live in the washington bubble you're all a bunch of frigging idiots. aren't we getting tired of this yet? in 2006, it's the same guy that says it doesn't raise the national debt, it's the lack of leadership, who is passing the
debt long to our children and grandchildren, and suddenly it's a new day and we're not adding to the national debt? i am just sick and tired of being lied to and talked to like you're a little child who has no clue because you don't live in the bubble. >> neil: let me ask you this as a business guy. you're trying butout know a thing or two about how to keep going -- >> been there a year or two. >> neil: here's what i want to ask you. the president saying that raising the debt limit isn't the same as raising the debt. your fear is that it sets the stage for doing that. is that right? >> well, just look at history. if you -- why do we have to raise the debt ceiling? to pay for things they have bought on purchase orders, just like me. i can go to my supplier today, and i can order $100,000 worth of ingredients to deliver the second week of december, okay? why not? okay. all my customers say they're
going to buy it. now the second week of december gets here and i only have $50,000 worth of stuff sold. well, come on, so do i not owe that bill? did i not spend that $100,000? have to come up with that $100,000? not if you're the government you just go to the bank, the presenting press, and print more, and pay for it. it doesn't work that way with small businesses. >> neil: here's the argument i hear for what the president is saying. this is congress' doing. they have already allocated these funs to spending and now want to back away and not spend the money appropriated. that's what they're saying, and they have to keep to their commitments, much to your analogy you just gave, a better one, that you committed to buy all these products and pay a staff and do whatever you're doing and now the time comes and you don't do it. what do you say? >> well, you know, i hear what he is saying. i just disagree with it. i disagree with the philosophy,
with the obama administration philosophy, with the gordon bush administration philosophy. you don't spend more than what you have. our national debt that gone from four trillion to six trillion to, what, $16 trillion? where does it stop? when do we say we can't spend miami, -- anymore. shame on congress for not saying, mr. president, this is your budget, it's trillion dollars more than the last one, we're not going to do it. i've never said i'm in love with the republican party. people don't know how to control the spending. >> neil: over the years you have ticked off both sides and endears me to you. >> i don't have friends. >> neil: i would much rather have a guy like you who knows about running a business, rather than these experts who haven't a clue. thank you. >> thank you, neil. appreciate it.
>> fan fannie, now protected. >> it's not a clear how much we're going to be on the hook for. at least 200 billion, with a b, in guaranteed lines of credit for fannie and freddie, and when has the government projection ever can underestimated the amount it's going to cost taxpayers? never. >> the bigger the bubble, it's going to take that much longer. >> you have people who were targeted, steered, and clustered -- >> reverend, ultimately they -- wait a minute. they signed their own documents you. might be right some of them might be push into things they shouldn't have been pushed into, but there is this issue of personal responsibility. you sign on the dotted lines -- >> i'm talking about ameriquest. >> you signed on the dotted line. you have the freedom to be snookered and also the the freedom to be stupid and not read your lean mortgages.
>> not reading our loan documents and now we have regulators saying it's fine, it's fine. the likelihood that bear stearns is going to cost us anything is small. you're not going to see a lot of fannie and freddie. >> government spending billions of dollars to fight foreclosures. >> i don't remember you or your colleagues saying we got problems with fannie and freddie. >> because it would have been too -- such an emculp -- emculp branson the process. >> they led to the financial crisis. >> come on, neil. >> neil: senate democrats reaching an agreement to stentax credit for first-time home buyers. >> have the been pouring now down the drain and it's possibly something where you just have to let it be ironed out. at some point prices go up. >> for helping them buy houses i don't believe they would have been buying without this program.
>> precisely. they're wanting to buy a house when the government pays for it, by car when there's the "cash for clunkers" program, or getting a student loan when the government -- >> just went from an $8,000 tax credit to extended tax credit to maybe extending the tax credit again to subsidizing rentals. why don't we just not subsidize anything. >> what is up canny, you take that stuff away, everything freezes. >> because people are getting used it to. >> he houseing market has trouble. we have tried to prop it up with a series of fairly mickey mouse government policies, including tax credits so it's hard to tell when the real bottom hits because we shifted it around so much. >> the best way to get people help on their mortgage is to get rid of dodd frank and let bankers negotiate loans.
>> you're no more encouraged this initiative will fair any better than other programs, at least on the surface? >> well, so far, the programs in the fast haven't not worked terribly well. >> neil: on your mark, get set, here we go again other mortgage fix, one that would cost us $180 million to keep fannie and freddie afloat to boot. >> you know whose comments were the most profound? over the years, donald trump. that we're just dragging it out. the real estate mogul joining me right now. i think you have that right. i think that's the problem. and if a all the best intentions, as is always the case in a crisis, we pour good money after bad when we should have just let things follow their natural course. >> so nice you remember. it's nice to make right
predictions. i've made many right predictions on your show. neil: now many people are saying we still need more mortgage rework programs. we still need more sort of housing backstops, and obviously what the federal reserve just did, buying treasury notes, they were getting concerned whether housing would tick up. >> they're concerned the economy is no good and probably right in that because if you look at real unemployment ex-you're at 18%. you're not at 7.3. you're at 18 and could be higher. so, they're right about that. the economy is actually very weak, and people don't really see it. the stock market is doing pretty well, and that's because many of these companies are making money outside of the united states. you look at these -- the big multinationals making money outside of the united states so their stock price is good, and i guess we're getting credit for that but we shouldn't be given credit. so, it's a real disaster. going on out there.
>> neil: what happens to real estate? we have had this pick up. you and i chatted over the years, off the mat but another off to to the races, but you fear that it doesn't take much to have us right back down again. >> selfishly, as a developer, love cheap money, and i've always loved cheap money and who wouldn't. i'm not speaking of somebody that is a great citizen of this country, and i hope i am and i love this country very dearly, but as a developer, love cheap momentum. they're giving me cheap money. i will say this, that the only people to get money are people like me that don't need it. if i want to make a deal on buying something, i get very, very inexpensive money. if somebody wants to put together a deal that is very qualified, and very good, but doesn't have a lot of money, it's impossible for that person to borrow. even at higher rates. because the regulators -- you mentioned dodd-frank. the regulators under dodd-frank made it virtually impossible for
the banks to lend money to those people, which is a very bad situation. >> neil: nevertheless, some of the once hot real estate markets that suffered, they're getting hot again in florida, and in new york, which really -- in new york city, which felt the pinch. you could argue it's getting 'hot again. are you worried this is another bubble? >> you're always going to have bubbles even if you don't think you're going to have them. bubbles bubbles and you look every seven and a half years and all sort office statistics. you look at the wave charts and you'll have bubbles. so it depends. but it's very artificial out there. lots of things are happening that are artificial, and time will tell whether or not this will be at another bubble. but in all firness to everybody, you're always going to have big ups and big downs, and sometimes, like we had a number of years ago, it would be calamitous. >> neil: my issue is how the
government, with best of intendings, makes things work. with all the ringses and bailouts and -- that it just prolonged the agony and that there is something to be said about just ripping the band-aid off. i'm oversimplifying it here the government has significantly dragged this out and worse and set up expectations and a backstop that when anything hits the fan, uncle sam has our back. >> at some point the price is going to have to be paid, and you don't note what that point is. now, in five years or ten years? going to be our children? i mean, where is it going to be paid? but i got a great kick out of watching bernanke the other day. it was going to stop, everything was going to stop, and then yesterday and the day before, signals started coming out that we're going to continue, and the stock market went through the roof. >> neil: what did that tell you, he's going to continue this?
obviously he is privy to more data than you and are i, so now he feels now is not the time to be taking the punch bowl away. >> perhaps he is political. and he is going to be getting out and wants to make sure when he gets out things are not going in the wrong direction. maybe they are going in the wrong direction but the indicators, you don't see that because of the stock market. the stock market went up because interest rates are going to be low, big money supply. so, it's a real -- it's a quagmire, and it depends on what side you're on. the fact is the economy is not good. the economy -- he is right about that. the economy is not good. and unemployment is pretty close to getting to record territory. >> neil: are you going to run for president? >> we have such a long was to go, neil. but you will be one of the first, maybe even the first to know. >> neil: don't kid me this nonsense, one of the first. that won't fly. >> thank you very much.
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or supplementing what you already have, call now and ask one of their representatives about a plan that meets your needs. so, what are you waiting for? go call now! we'll finish up here. make that six. they say don't mess with texas. this could be i would. texas governor rick perry going after high-tax states to attract workers to his state. first california, then illinois,
connecticut, missouri, and now maryland. joining me now from washington on, well, taking those jobs. what's the latest from maryland. >> very good conversation with the people in maryland. we shared with them the story of texas and juxtaposition the two states. last night governor o'malley and i had the chance to debate the issues, so i think it's a good, thoughtful conversation we have with the american people about red state versus blue state policies, and which one of these is best for you, which one of these states would you rather live in if you're a small business man or woman or big businessdown. want to live in state with onerous tax regulation and burdensome regulatory climate, legal system that allows for overseeing or live in a state free from overtaxation,
overtaxation, overlitigation, people by and large will we happy in a state that fits their idea where they want to live, and we want to push that conversation. let's talk about what is best for america. this isn't just about texas and maryland. this is about 50 states, 50 laboratories of innovation that what our founding fathers had in mind. >> neil: we did put out a call to for o'malley's office, and his argument is that things are actually going well in m,-do in maryland, so the issue is the number of employers willing to leave that state to come to texas. did you get any -- >> or you can look at imfrom another perspective that gives a very good insight. in july, there were over 4500 jobs lost in maryland, in the same month 18,200 were created in at the state of texas.
two states headed in different directions from the standpoint of the health of their economy. the ceo of the magazine picks texas to be the second in the nation to do business. marylands is 41st, so businessmen and women, the decision has been made. if you want to grow and have the prospect of really growing your company you want to be in a state with the red state policies like texas, rather than a state like maryland, which is blue and blue state policies. >> neil: all of this comes at time when you indicated you don't want to run for re-election, and many are looking at this job pushes as something that could be a credible wind at your back should you choose to run for president. are you going to -- >> happy it's a wind at the back of this country as we have a
discussion. i hope that we have a conversation about what is the best national policies for america. i do believe that it's really pretty simple. if we had the leadership in this country, put a flat tax into place, open that pipeline out of canada and create energy jobs in america. >> neil: you had a job growth record, and chris christie, widely touted potential presidential candidate, doesn't have nearly that track record, and nearly that job gain. you could make a credible alternative. >> i don't make any argument other than i think it makes sense to have a chief executive officer leading this country. the current president depend have any ceo experience and i think we're paying the price for it today. >> neil: -- run for president. you can't tell me you haven't thought about it? >> it's an option and in a year or so we'll make the decision but over the next 15 to 18 months i'm going to be pushing
this conversation across america that we have 50 laboratories of innovation. don't you think it makes sense for the states to compete against each other? if you're going to say you can't go into a state and you can't compete against that other state's legislature or governor, then i don't agree with you and i don't think you understand economics very well. the truth of the matter is, when you move a business to another state that has a policy that allows that company to grow, to invest, then you're going to have a net job creation. if every state has to compete without those types of regulatory -- i should say with those types of regulatory restraints, every state would have the same growth. that's obviously not happening. >> neil: all these state-not one with a republican governor. >> i go into states with republican governors. i went to florida and did a talk -- >> neil: that was a friendly
little battle across the -- >> it's always friendly, from my perspective. >> neil: does seems -- >> bobby jindal is going into texas. >> neil: -- calculated and i'm not saying there's anything wrong with that, to sort of rally republicans around this. >> neil, it's an old adage, you fish where the fish are. and the easy pickings are the blue states right now. >> neil: governor, thank you very much. hundreds of teens trashed this house. now the form fer nfl player who owns it is the one who could be sued. who is trashing whom? >> don't step up, i promise you there's going to be experience that is going to cause shock and awe coming down. and it will be a real live message sent to every student and every parent.
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>> neil: imagine going away 0 for the weekend and finds out hundreds of partying teens were trashing your home. that's exactly what happened to ex-nfl football player brian holloway. so what did he do? he went to twitter to track down more than 100 of the partiers who posted pictures of the bash. not very bright. not on his part. their part. the picture posting on the site is what got these kid's parents very upset and now they threatening to sue him over that. the parents of the kids who trashed his house. go figure. do they have a case? >> the way that -- what he did was he compiled a list of 300 or more kids he thinks had something to do with this and the way he compiled the list he asked the kids who tweeted pictures of themselves who else was there and they started finger pointing. so if you made it on the list
that news on his internet site, then there's a presumption that you were involved. and that is something that makes me very uncomfortable. those parents do have a case against him of those children that weren't involved. >> neil: a good point. i imagine most were. because the kids -- hundreds of people at this party. >> a lot of people said they were there and this was a great party and look how much fun. >> tweet pictures themes on their own account. >> and the damage they did. >> neil: these are not exceptionally brought kids. >> apparently not. the fact the parents are threatening to sue shows me why the might heave thought that. if their parents are saying, it's case you cause destruction those house but we're going to sue the person whose house you ruined -- >> neil: he player is not looking to sue anybody. he wanted to meet with them and teach them a lesson, not physically bang them reason, but just advise them, this is not good to do. sew wasn't looking at any suits
here, and now he could be facing them? because crafty lawyers like you are going for a quick buck? >> thank you so much, neil, crafty. my kid. >> neil: something evil about that. i like that. >> if my kid was on the list because there was a jealous boyfriend, i know how to get that kid in trouble, say he was at this party, and i'm going to have a problem but i will not be the one that says if my son was student enough to take a picture of himself committing a crime, i would sue the guy against whom he committed the crime? never. >> she raises a good point about maybe you were not even there. i could maybe make it those kids have groups to be upset. >> a lawsuit? not. even if you said something in print that was incorrect about them, that it would have to cause them some kind of tangible economic damage for it to be legal he actionable, and i don't see that here, especially
considering that the information came out because of this whole twittering? it's a public case. so falsely accusing -- >> neil: pictures and images, they wrote their names on the wall. >> not like a mensa gathering. >> they should put a message out there, all criminals should take pictures of themselves committing crime. it would be fantastic. >> neil: it's more common than you know. >> they tick pictures of themselves committing crimes? >> neil: just saying that they know the homes are not occupied that often and they party hardy there. >> it's disgusting. kids need something better to do. >> neil: don't you think their parents -- >> lawyers have to follow strict rule oughts of ethics, if they file -- >> neil: what do you mean lawyers have to follow rule0s ethics. >> if you file a ridiculous
lawsuit, you could be in big trouble and lose your license. if somebody files a ridiculous case, that's could face action. >> this guy's house is trashed and now could be -- because of opportunity -- opportunistic lawyers like you. >> thank you very much. to the millions of taxpayer dollarsu just paid? this ad doesn't tick you off?
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♪ >> that was an ad for obama care. didn't mention obama care. the reason is the controversy. >> i use to look at commercials like that. i don't smoke that stuff anymore. >> i couldn't understand what this was promoting. i guess rosie and fun -- >> they have something people don't want. they're not going to mention obama care. congress doesn't want it for themselves, unions don't want
it. why mention obama care in the commercial? i have the answer for them. i have the commercial for them. get george clooney, barbra streisand, all these pass vis and get them to look at the camera. i'm george clooney, i know congress doesn't wanted it. try it for you. it's going to work. >> george clooney can work a lot of magic, but that's a heavy list. >> barbra streisand -- >> all the more. >> would you believe susan? >> maybe. >> a lot of times you can't market something not marketable. others have. >> they're so far away. this is a waste. they're spending $3.2 million. >> that's so much than the next spot i want you to look at. react to this.
take a look. >> in a world where other financial net works bore you to tears, a new hope emerges. this monday, a new cavuto premieres. prime time tv will never be the same. new and improved cavuto. >> i would be proud to say i did that. compared to the health care ad, that makes more sense. it's clear. i didn't want to hinder what we're doing. did we succeed? >> yes. you're sufficiently confused but eager. >> at least they mentioned your name. they didn't mention obama care. >> touche. >> to think you could spend that money and not mention it, that's horrible. >> that cost us $32.
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whether you're the first or the millionth. if your bank doesn't think you're special anymore, you need an ally. ally bank. your money needs an ally. all this week, some of you might have noticed i've been going back in time on this show on my business show remembering the fall 2008, the beginning of the financial meltdown and a crisis that had washington throwing anything at everything at the wall to see what would stick. what fix would get us out of the fix. they came up with a lot of fixes, rescues, bailouts. they got more stimulus, mortgage rework programs, new laws, regulations, historic to make sure history did not repeat itself. the same overhaul after
investors got swept away so we wouldn't have another crash, until we did. they decided to button this up once and for all until it escape oikly happened again in 1989 and again in 1997. and again in 1999 and in 2001 after the terror aattacks. measure upon measure, law upon law, layer upon layer. none stopped the bailout in 2008. each fix leading to a big her fix, each closer than the one before. regulations more confusing than ever. sellouts still happen, bubbles explode, excess get excessive. all that still clueless. still promising we'll never let banks get too big they e can't fail even though banks are bigger. some of them will fail. such is life.
such is hisry. if you think about it, the government isn't bigger than you and me. we do and say dumb things in the heat of an argument or crisis. more often than not pound the crisis. uncle sam does it with more money, our money. all the while forgetting the cardinal rule when tempers flair best to stop talking and start thinking. yet politicians feel this pressing need to look like they are doing something. if only they realized sometimes they do best by just doing nothing, nothing at all. easier said than done. we live in a culture where the congress person's law is defined by how many rules and regulations they came up with, how much bacon they brought home. why do we quantify success that way? my e.r.a. ra isha