my commute the big bellies red that is my "two cents more". that is it for tonight "willis report." have a great item we will see you back here tomorrow evening. lou: good evening, everybody. president obama will accept the democratic party's nomination. one question is whether clinton help him or harm him. nearly four years after running on a program of open change and yes, we can, the tone sounds more like nobody could have. while absolving president obama,

the president's acceptance speech is expected to post this on promises kept. tonight will, we'll take a look at some promises broken. we will take this up with the republican national committee director sean spicer, ed rollins and joe trippi. and president clinton delivering a rousing speech last night in the current president's defense. but where his facts worthy of being called facts? we will look at tonight choctaw. the top story tonight from the president's campaign team releasing a preview of tonight's acceptance speech in title promises kept, the video highlighting the president considers his achievements since taking office in 2009. >> because of an economy markets, like this, laster and we should do is raise taxes. >> arrigo

lou: it is a series of massive tax increases. the penalty of not having health insurance takes effect in 2014 and has declared by the supreme court as a tax. it is in full view of the public, giving americans the opportunity to see who is lobbying for while. a while. and making deals in the clear rather than the dark corners of power and even corruption in our nations capital. >> unwin have all the negotiations around the big table, we will have doctors and nurses and hospital in ministry. but what we will do is, we will

have the negotiations televised on c-span. that people can see who is making arguments on behalf of the constituents and who are making arguments on behalf of the drug companies or the insurance companies. lou: that's not quite the way it worked out. nancy pelosi made these remarks. >> we have to pass the bills we can find out what is enact in it away from the fog of controversy. we must have the courage to get the job done. we are proud of president obama and that he is taking the message so forcefully to the american people. lou: president obama singing the song of immigration reform as well as the latino community and capturing 67% of their vote. the president guaranteeing that immigration reform would happen if he were to win the election.

>> i cannot guarantee that it will be the first 100 days. but what i can guarantee is that we will have in the first year, an immigration bill that i strongly support and i am promoting. but i want to move forward as quickly as possible. lou: that is only a sample of the promises uncapped. detailing more than 80 broken promises that president obama has made in just over 3.5 years in office. president obama takes the stage to accept his nomination amid great expectations, perhaps come even greater pressure are at fox news chief white house correspondent ed henry has a report from charlotte. reporter: after wrapping himself in the arms of bill clinton as well as the policies that created millions more jobs than he has, president obama quickly went back to work on his speech late into the night. with one close adviser telling fox that he is always tinkering with it addresses.

the editing process considered can see right down to the wire today. the president also took a conference call by supporters who were not happy with the venue change. >> it will not be as big of a crowd and lesser fanfare. reporter: a clear attempt to lower expectations of the fanfare of 80,000 screaming fans in denver or four years ago. top advisers promise there will be some new policy proposals. to highlight things with mitt romney last week. >> hopefully at the end of this convention, people will say what we accomplished was what we needed to. and it has delivered our vision for the country and offered a clear contrast. reporter: voters have also seen the obama camp try to move the goalpost with clinton's central claim that it was impossible to turn the economy around to just four years.

>> president obama started with a much weaker economy than either. listen to me, now. no president -- no president, not me, not any of my predecessors, no one could have fully repaired all the damage that he found in just four years. except at the beginning of his presidency, he did suggest that he could do it in one term or all. >> are here for now, i think people will see that we are starting to make some progress, but there is still going to be some pain out there. if i don't have this done in three years, then there's going to be a one term proposition saying that the president will try to bridge that divide by saying exactly what he would do in a second term. >> he had a vision in a way that would be meant to last with a middle class is at its core. the foundation of a strong economy. the president will lay out what that path is forward.

>> something else is happening on friday. a new jobs report for august it will have a major impact on whether the president is a big bouncer not. lou: thank you, ed henry. fox news chief correspondent. it should be noted that the government cuts not only moving the goalposts at this convention, they moved the entire field. the obama campaign will send president clinton on the campaign trail next week with stops in ohio and florida. the romney-ryan campaign will be making campaign stops in iowa and new hampshire tomorrow. as they rollout a massive media offensive. their campaign will also start spending millions of the hundred million dollars that were raised in august for new advertisements that are scheduled to hit in several swing states. our next guest was a national cochairman of barack obama's 2008 presidential campaign. he delivered one of the

speeches, nominating him for president. >> i am honored to second the nomination of a man whose victory tonight takes us closer to becoming what we know america can be. a place where who you are now, a place where you come from, a place where all of the things that might hold you back pose no permanent barriers. >> former democratic congressman from the state of alabama has since changed his party affiliation and offered a rousing defense of governor romney at the republican convention last week. joining us now is author artur davis. i want to start by congratulating you on what is the most insightful, if i make him may, critique of the president last night. and like you, i thought that it

was a stirring statement and brilliantly done. >> it was a stirring speech, the two things about bill clinton's speech last night. all 49 minutes of it, you never heard the formulation for the phrase, barack obama has succeeded. now, let's think about this. you have a president running for reelection. one is the last time a president has run for reelection and his biggest booster can't bring himself to say that he had 49 minutes to say it -- that might not succeeded. point number two, one of the major points that president clinton made last night something that we hear from my democratic friends all the time that didn't mitch mcconnell promise to block his reelection, something everyone in the audience will appreciate. when mitch mcconnell made that pledge, he had 40 votes in the u.s. senate. not even enough to sustain a filibuster even when he got a 41st vote. he wasn't able to block an

initiative for two years. president obama got everything he wanted on the economic front from the congress and the same mitch mcconnell actually cut a deal with him that avoided the expiration of the bush tax cuts at the end of 2010. which would've almost would have almost certainly have pushed the economy back into a recession have those tax cuts all expired. so this notion that republican obstruction has never worked for the president and the notion that has prevented him from getting anything done is just factually false. but for president clinton, he made it in a very powerful way. lou: a number of the facts, the so-called facts that the former president views are what's called daschle let's put it this way, highly chargeable and we will do so this evening on this broadcast. but you point out that this has been the most relentlessly ideological administration. the obama administration. what do you mean specifically by

that? >> i will be 45 years old in a few weeks. this and my 45 years is the most ideological presidency that i have seen. ronald reagan was a conservative. but he regularly found a way to appeal to democrats and to win democratic support in congress. bill clinton was a progressive democrat in many ways. but he found ways to regularly appeal to republicans. both president bush's regularly found ways at the beginning of their terms to reach out to the other side. that has been the political norm. well, you'd almost think that the separation of power was something that had been invented four years ago. the reality as bob luper points out in his book, presidents have always faced the difficult challenges of hyper partisanship. the successful ones have gone the way to overcome this, and it is fair to judge a president for

a promise to turn the page and move his past partisan gridlock when you have ran on that theme. it is fair to judge you when you were not able to reverse the gridlock. >> bemoan how important is his speech tonight, president obama, to his reelection effort? >> i'm not going to guess anything that has happened in the last two weeks. i mean charlotte and tampa. the american people think that president obama is a fantastic speaker. they know that bill clinton is a fantastic speaker. i'm not sure they stuck with him past 11:00 o'clock last night, but they know that they are great speakers. these elections were simply about oratory, we could close on the context right now. with these elections are going to be about the results. a lot of us put a lot of faith in president obama for years ago because of his oratory, and we have learned the lesson that sometimes works don't translate into results. i think that the american people are going to judge this president based on results as they should.

lou: congressman artur davis, thank you so much. a strong supporter to governor romney. coming up next, president clinton putting democrats into a frenzy with his passionate defense of president obama's record. >> when president barack obama took office, the economy was in freefall. they had 9% of gdp. we were losing 750,000 jobs per month. are we doing better than that today? the answer is yes. lou: but powerful gifts of a man called slick willy on display in charlotte last night. tonight, we will take a look at some facts and the "chalk talk." later on, ed rollins joins us to give us a preview of the president's success and acceptance speech tonight

lou: the obama campaign playing down expectations for a postconvention bounce. can the running and running to get capitalized? and loans will be joining me here in just a moment. first come on wall street, big deal to tell you about. a major rally as markets hit multitier hives. the index -- the dow jones hitting the highest mark in five years. up 245 points. hallelujah. the s&p 500 gaining 29 points.

this is the highest for the s&p 500 since january of 2008. i repeat, since january of 2008. the nasdaq, watch this, closing at the highest level in 12 years. up 67 points on the day. investors, well, what they were doing was responding to some good news here at home and feeling a long-awaited bond purchase plan by the european central bank aimed at helping the eu struggling members and good news on the job front. the weekly jobless claims dropping 12,000. almost 1000 jobs added to the private sector. the service sector growth, unexpectedly jumping last month as well. isn manufacturing index, showing

the rebound as production growth is slow. amazon taking on apple and samsung, releasing its new family of kindle tablets. showcasing a number of new animations and graphics and speed and memory and price. the kindle creating an absolute disruption in the tablet market. i want to be clear. i don't have amazon stock. but i do have a candle, and i do like it. that is why i can tell you i love it. coming up next, a man and a difficult economy at he inherited. former white house political director under president ronald reagan, great to have you here. >> thank you, my pleasure. let's start with watching president clinton. center stage, doing his thing, it was magical. >> he was an extraordinary

performer. he commanded great language and facts, some of them may not be quite correct, but he has a great command of those facts. i think he gave the strongest argument possible people who want to reelect obama feel good about doing that and that is pretty much the audience. 45% of the country are so. lou: i have to believe that the republicans right now, and governor romney, you guys better come up with a response to that line about the republicans claim that you inherited a mess and you didn't clean up the mess, so therefore, put us back in charge. >> integrate speech. lou: it was 49 minutes? >> for him it wasn't long but it held the audiences attention. it did the job that it had to do. god love him, he's a good

democrat. the president owes him a lot. at the end of the day, as i have said on the show before, it will be back to dead even. this is the four states plus one. from the secret to winning is that he has to win florida, ohio, north carolina, and virginia. it could be another one like iowa, it could be new hampshire. that gives him the 270 plus electoral votes to. lou: artur davis said it will be about the record and jobs. is he right? >> you can't make this president into a good president. you can have all the rhetoric that you want. he could give an extraordinary speech, as i would expect, he would draw a line at the end of the day, he is not performing. lou: lets see the brand-new ad, breaking up is a hard thing to do by the republican party. it is kind of fun. check this out.

>> this is a working. it's been four years. you have changed. you're spending is out of control, you are constantly on the golf course. >> you haven't even showed up in six months. it's just not me. it's you. i think we should just be friends. tell us what you are breaking up with president obama at our website. lou: what is going on? a woman talking to a cardboard cutout of the president. >> it is clever. you need little things that people will pay attention to. we have another great one out today, the child coming home and telling about what she built at

school and her parents are no she didn't build it. that is fun. i could have a little bit more patient and not one. lou: of maximum president clinton with what we all expected would be a superduper speech. as he put forward his best argument for a second obama term. but was he correct in his facts and premises? i am not so sure. we will take it up in the "chalk talk" and you can decide. later on, heading back down to the democratic convention where president obama is preparing for the speech of his life. joe trippi will join us to tell us what to expect. coming up next everyone has goals. take the steps to reach yours, with us with real advice, for real goals.

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lou: president obama started with a much weaker economy than either. listen to me, now. no president, no president, not me, not any of my predecessors, no one could have fully prepared all the damage that he found in just four years. lou: wow. now, listen to me, mr. president, you are just being modest come on you? clinton being his modest self. but he forgot a president who did it in quick order and didn't need a second term to do it, but he did do it. and he did it so well that he got that second term. you see, when ronald reagan took office, he inherited what became a severe recession. the unemployment rate, ronald

reagan, if i may do that, the unemployment rate was 7.5%. now, that is pretty tough. that was in october of 1980 as he went to the polls of the elected president. that would climb into the double digits if you can imagine us. rising to 10.4%. 10.4%, january of 1984, the year where the country had to decide whether or not to give him a second term. the drop that year. from 10.4% back to 7%. it is amazing. by the end of the first term. not only that, the inflation rate in the country, in 1980, with nearly 13%. 13% inflation. 13% inflation in 1980.

13%. it fell to less than 4% by the end of the first term. 4%, that is correct. the prime rate dropping, for crying out loud, we have zeros at a quarter% discount benchmark rates, the primary in 1980 was 15.5%. 15.5%. so when we hear people talk about how everything is and how tough it is, let's talk about it here. these are big bad economic numbers. there is really no reason why president clinton should have forgotten how bad they were. but listen to what happened in short order. listen how president reagan could sell his accomplishments and look at the american people straight in the eye in 1984 and

tell them what he deserves a second term. this is what he said. at the 1984 republican convention. >> of all the major industrial nations of the world, america has the strongest economic growth. one of the lowest inflation rates. the fastest rate of job creation. exploit 5 million jobs in the last 1.5 years. a record 600 business corporations in 1983 and the largest increase in real come after tax personal income since world war ii. lou: wow. president reagan can also boast about 7.2%. think about this, 7.2% gdp growth. i mean, in 1984. but he is hardly the only remarkable president that we have had. and i don't understand -- i know that president clinton was really pressed for time. he had only 49 minutes in which

to go through his speech. he forgot about fdr. in the first year, that was 1936, 1936, real gdp growth had risen to 13.1%. 13.1%. under president obama. 1.7% in the second quarter. we are talking about, let's call it, 2%. and he wants to get rehired for the unemployment rate when president obama took office was 7.8%. 7.8% unemployment. it is now at 8.3%.

forty-two quarters. there are some other numbers that president clinton would have to leave out, but there's only so much you can do. the president likes to brag about how the economy has produced 4.5 million jobs. not so fast. job growth hasn't kept up with the then population growth. and there has been a net decline of 316,000 jobs. a net decline. because that is the real number

that everybody should be looking at. not as bored .5 million that president clinton suggested last night. the greatest peacetime expansion in our countries history. but it was in part to the repeal of his depression era glass-steagall act. the final year, 1999, of his administration, which led to the banks being too big to fail, colliding and conflicting in 2008. oh, yeah, only 48 to 49 minutes, president clinton. he expanded the community investment act that contributed to the subprime mortgage crisis of 2008 it was so devastating.

i understand the lapse on the part of president clinton, but i'm glad there was so much time in which we have the opportunity to point out the importance of arithmetic because arithmetic is real honest, what we're facing now and it's going to be very important if we have mathematicians who really pay important that we have mathematicians that are really paying attention to the numbers honestly and forthrightly over the course of the next four vice-president biden, president obama take center stage tonight. what other democrats doing? joe to be here next. they're rediscovered got the dems rediscovered god yesterday. but they keep alluding controversy. >> i will do that one more time. all those delegates in favor, say i. all those opposed. lou: the president intervened, but for home? we will have the latest poll

results. political conventions usually lead to a boost for the candidate. gallup has run afoul of the candidate. but the gallup poll has run afoul of the obama justice department. what happens next? bill will take that up with the "a-team." a-team we have big dreams.

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the big thing he has his credibility on the economy. most people remember the recession, turning it around, job growth, balancing the budget, cutting -- you know, producing a surplus. for him to sit there and say, look, i am here to tell you that not me, not any predecessor could have fixed a broken economy that barack obama was giving. that has credibility with a lot of people out there. i think this speech at the market. lou: you have to be heartbroken if you missed my jock talk tonight. the president had had to fashion that a few more. he left us a really important facts. for example, ronald reagan's first term. extraordinary. what he did to turn around the

economy and he did in the first four years. franklin delano roosevelt, inheriting a depression for crying out loud. these are significant numbers. at the president was a little, if i may, and customarily modest, what do you think? >> he made the case commander going to hear it continued. before he was present their deficit quadrupled. bush 41 and 43. some now, you're looking abroad. look. the obama's will say, they say i was still the ban hand. at first it was bad luck. it's not bad luck, it was bad policy. bryan and romney want to go back

to the failed policies. i want to keep moving forward. unhappy with the progress. we have to keep moving. stick with me. don't go back. that will be the case. clinton started the last night and is now moving forward. lou: did clinton help or hurt? because he put up by heck of a standard for giving speeches last night. now obama has the magic. >> clinton helped him enormously. clinton can make a defense of the obama presidency much better than obamacare and because it comes from a person that has tremendous credibility on the economy and is an arbitrator of what will work and what isn't going to work. our order, i mean. that is what he did. he set up obama to make that case, and obama is going to make it. the roof is going to come of this place tonight. no doubt about it. lou: we will be watching to make certain that these forecasts hold true, as they usually do.

good to have you with us. >> thanks. good to have the. lou: the intellectual integrity of the democratic party. and debbie wasserman shultz. those two things are disturbing when combined. she is struggling with the truth next. want to try to crack it? yeah, that's the way to do it! now we need a little bit more... a little bit more vanilla? this is great! [ male announcer ] at humana, we believe there's never been a better time to share your passions... because the results... are you having fun doing this? yeah. that's a very nice cake! [ male announcer ] well, you can't beat them. [ giggles ] ohh! you got something huh? whoa... [ male announcer ] humana understands the value of spending time together that's a lot of work getting that one in!

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♪ lou: a new book by bob woodward certainly criticizing the president's skills. the price of politics into last summer's debt ceiling fiasco between president and congress. according to excerpts from his book house speaker pulling out of a so-called grand bargain after the president insisted on too many tax hikes after they had reached agreement. at one point democratic and republican lawmakers just refuse to negotiate with the president. asking him in back still leave a meeting inside the white house. when the deal fell apart the

president was reportedly so angry one staffer said he gripped the phone so tightly it almost broke. the dow b. wasserman shoals truth's trainer honor roll. during an interview yesterday she climbed several times the omission of jerusalem in the platform. the capital of israel was a technical error. >> jerusalem, it was a technical omission. nothing more than that. >> it was essentially a technical oversight. >> there are technical corrections. to the legislation on the house floor all the time. lou: she then pushed her version of the trip even further saying no one challenged the change the platform. >> it takes a two-thirds vote. just make sure that we had a two-thirds vote. he realized that we didn't. we move forward. lou: yeah.

the standard bearer for intellectual integrity at the convention. so we will let her have the last word and now won despite what millions of people saw and heard . well, now the democrats to put the word got back in their platform. you will have to see if it affects the president's polling among nonbelievers. the latest gallup poll shows the president winning the so called gutless vote by a landslide. 69 percent say they have no religion at all support president obama. compared to 23% to back governor romney. surprising margin if you take into consideration that obama supporters like spike lee have referred to the president as a savior, like black jesus. the democratic platform says the climate change threat is real, urgent, and severe. you would not know of listening to the speakers to address the convention this week. according to the daily caller, this, the only mention of climate change in more than 80 speeches in charlotte.

>> governor romney will lead to dirty air and increasing, volatility, uncertainty over energy prices and less security, not more. lou: a california businessman, not exactly a party leader. democrats could have counted on that a little bit. he chose not to even show up. next year vice-president biden, president obama accepting the democratic party's nomination. the speeches carried live right here on the fox business network. will the president use specifics when talking about his second term? if there is to be one. the "a-team" will be here with their predictions, opinions, fuse, perspectives, and values. democrat, crowley, conservative. mary castle.

♪ lou: joining me now, the "a-team." wall street journal editorial board member, author of the book what the bleep just happened. talk-show host fox news contributor, former schumer adviser, fox news political analyst never ever using names like believes in his. let's start with you. you have to be so proud. >> very proud. i thought that was one of the best political speeches i have ever seen. my first experience in politics is working in the national convention. it really really got me interested in politics and got me involved to the level i am today. i thought last night top that. a great case for why president obama must be reelected to this country. lou: do you think he influences president obama and his oratorical style? because there is one thing we

edited out. he did something, you know, i would have said it was obama as had obama preceded clinton, but clinton proceeds obama. i would have to say it was fontana in. i you ready for this? eighty references to buy. ninety-six, 96 first-person references. sixteen in which he simply used to be or myself. that sort of sets the standard for what obama. >> look. bill clinton is a classic narcissist, as is barack obama. what he did so well last night, talk about himself. the most comfortable and passionate and really sort of a lapsed into that preaches cadence which she did so well when he was either talking about himself or talking about hillary are knocking the gop. but not so much when he was talking of barack obama and the concerns are not just stylistically but substantively between clinton's presidency and

obama's presidency on a whole range of economic issues. it's not going to go very well for tonight and through the campaign. >> i think that is really the risk for the democratic party. if you were not undecided and listened to that speech and bill clinton talk about how he cooperated to get work for welfare and the budget deficit under control, they're sitting there, maybe you have a relative who has been out of work for a year. going up. lou: going through his new book. the leaders of both parties and the senate asking the president to get out of the negotiations. >> the line of the night was the republican plan is we missed -- messed everything up. he didn't fix it fast enough. that is back in, and i don't think the republicans have an answer to that. he didn't fix it. that's what they have been saying. lou: you are agreeing that he didn't fix it. >> did not fix it enough.

the process has begun, and the economy has begun to improve. albeit slowly, i'll give you that. we are not leading 750,000 jobs a month. lou: that is certainly true. still the deficit of jobs created. a decline of 300,000 plus. president clinton turned. lou: the worst recoveries as the great depression. when you compare and contrast with the reagan recovery in which we had 300, 400, 500,000 new jobs created every month to one month over a million new jobs created. economic growth. lou: six and a half million jobs in a year-and-a-half. >> and doubling every three years when he was president. [talking over each other] lou: stop. stop. >> wait a minute. lou: we have to have an alert. we have a democrat who is now concerned about the national debt and deficit. my lord.

>> by the way, that justice is outs plate. lou: triple the national debt. reagan, the original bags pending person in washington. lou: let me ask you a question. how many jobs are created? >> many jobs created. lou: this president, 16 and a half million to go. >> and not say we are where we need to be. nobody will. lou: i'm saying, every policy of the past three and a half years has not in any way benefited the economy or 23 million people out of work. >> of the republican congress would let us spend money the way they let reagan we would be fine >> that's absolutely false. forty years of you have spending as a percentage gdp, up 40%. under this ministration we have taken up to 25%. there is no comparison. this is an absolute -- >> a route to of the worst economy in 75 years.

lou: balderdash. this has become the mantra of the democratic party. it's pure block. i just went through what happened in the reagan years. i went through precisely what happened in the depression. >> and you know what, they should hire you. the republicans should hire you because you are far more specific than anything they put out and far more intelligent than anybody working for mitt romney. he should call you right now and put you on the campaign. i'll host the show for a couple of weeks. lou: awfully good of you. >> it's true. lou: you will have to think about it, and we would get back to you wanted. let me -- let me -- i don't know where you, but the stuff. 245. the s&p, the four and a half year. almost five-year high. the nasdaq, a 12-year high. >> well, the markets like bailouts. they do. it's very short-term thinking.

lou: the most frequent -- recent american bailouts. >> good. >> he have that and the fed to alter low interest rates. looking at another boost. lou: improving employment, a strengthening economy here at home. hallelujah. it's a turning point. very good. thank you very much. up next among the president's collins, a metaphor for what? we go to the end box. you will find out. just a moment. we're coming right back. ♪ [ male announcer ] let's say you need to take care of legal matters.

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