neil: serves them right, now gouging college are served up humble pie, welcome i am neil cavuto, this is what happens when you keep sticking it to students, students stick it to you back by not sticking around, that is why a big ma culpa from private colleges are startles, after years of raising tuitions colleges retreated because kids are not paying, their i leaving now colleges are retreating according to a survey released, the colleges are gulp, discounting, that is right, the

average tuition discount for freshman at private colleges and universities climb to 45%, a massive half off sale. they are discounting anyway they can. offering more and bigger grants and scholarships, in case of one tennessee school freezing tuition for incoming freshman for 4 years? why, a lot of going studentless, kids not showing up because they cannot afford charges that keel going up and up, many drawn to more affordable public schools and universities, they are getting any educational bang for that buck, many kids and their parents concluded they are not, after years of paying typer loans, that prompted colleges to push steeper tuiti hikes, kids tell the schools to take a hike, now the schools are becoming magicians, and rolling back the

pric or at least their darnest to contain the price, they are getting what some of their own schools have been teaching pay for performance, but if you have to wonder if this is awaken, too late? because very folks to whom they are reaching out he long left, and gone. what to make of schools that can no longer take what matt, christian, and lindsay, what do you make? >> you know, it is misleading there are some institutions that are making concessions in terms of tuition costs, when leak at the system at a whole, tuition costs are still to the rise, so the growth rate may not be as gross as it has been but till is on the rise, this is continuing to be a problem for the average american family in terms of affording to send their children to the college without an aid or financial assistance. that is contributing to the attendance reduction, but i think that bigger issue is we're

questioning the value of the very expensive college educations, average student coming out of university i strapped with tens of thousands in fitsin debt. and so as we reach a precipice in terms of elevated true doing cost this will shift the conversation where we ask, buzz everyone even -- does everyone even benefit from a college educion. >> whatever shift is going on, it hit the fan, i think that the question is whether the government has actually contributed to it by increasing you know, student loan guantees and it sort of fed the beef, you know colleges say, well, they are giving bigger loans out we'll hike tuition by bigger amounts. >> this is a bubble that has not

gotten the attention it deserv deserves, they are subsidizes s school by making it possible for kids to go to school, giving them lone guarantees, and out right grants, this is something that their time has come to abend because, you know the american family cannot afford these schools. can a stein walk away from $250,000 in debt? i am in my 40s i just paid off my school leans a coupley -- loans a couple years ago, no one sat down with me, when i took out my loans, and saying you will be payingnese until you are nearly a grandfather, there is great competition out there schools are competing for profit colleges, colleges on line,. neil: you know, my take away from this is, what an idiot i was to pay list price, it can be

discounted 45%, to the point what no one pays full freight, i did and do. and for my daughter as well, that is neither here more there, i understand. you should pay more, and i do and did through the nose but i came away thinking, is the that much pad built into our educational system? that they can be discounting suv uingstuff up to 50%. >> hiker education is a flawed market. this is not a new phenomenon, have you going on with colleges they have decided that to appeal to selective students they have to build newer and bigger buildings and stadium, and pay @%trageous salaries for coaches, so many factor built on college spending more not necessarily to

provide value for student but make themselves standout. neil: a lot are more sinister than that, a lot my provide more by getting a better library, but my fear is they follow the money, if they s college loans going up and amount government guarantees, they willy-nilly hoist the increases, that have way exceeded inflation year in and year out. >> sure, think universities are competing among themselves to create gorgeous campus, and rec rooms with climbing walls and all sorts of activity. neil: what a stupid idea. if my kids went to a school, and said have you seen my climbing wall, i would say, no we're checking this other school out. maybe of the private institutions that offer them on par in terms of rankings with public universities, not the top tier they are not offering

reduction. neil: the ones that say nothing of ivy league, they don't have do this, but the bigger picture in the step away back here, is that where is this going? they finally coughed up and released there is a limit to how greedy we can be, and a limit to how much we can keep hiking because, we hit the point of ta about climbg wall we hit the wall. >> yeah, they are having to listen to their customer, and look at their bottom line, and you know ere is a great, ronnie many of the schools, take our the kids and thhy educate them they kind of -- they are little laboratories to cree left widger wingers after colle. neil: i don't mind that. but many do not. >> but here is the issue, i think people are -- looking at whole college experience they want something different, the colleges will have to examine

what they are turning out, i would think twice before spending a quarter of a million on education if i did not think my kids were learning what they really need to get a job, and get ahead in the world. neil: i don't k know my young little guy is very handy. basic skill sets i am encouraging, wt do you make of where it is leading ? >> i think this is a really important discussion because it highlights, you know college was something you could pay for as you went. or previous generation your parents paid for it, now you pay for it out of future earnings, it looks like future earnings of college graduate is not what it was. we're seeing now that is a college education is not, keeping pace with its market demand that is something that is really critical moving forward it will cause a lot of students to think twice as we've been talking about, about whether this is worth it. you will see perhaps other people getting involved in vo

occasional trades or really decides not to get nto the whole idea of to be in most exclusive college out there and seeking better val fur their education dollars. >> all right, guys we'll see you later. >> president obama kicking off a jobtore in texas. should kno. >> look out younger generation, everything old and new again, instead of companies looking to hire next hot young thing, older hipper guys like me are the hotter new thing. you hurt my feelings, todd. i did? when visa signature asked everybody what upgraded experiences really mattered...

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store. land as many companies as republican governor rick perry can get. and get he has, so, texas republican conditio congressmand maybe this is a good thing that president will be hawking jobs in his fine state, maybe then he will get what it takes to get jobs in all states, what do you make of this? >> i welcome the president to texas. and my initial session for him would be, turn the teleprompter off, don't make a speech, listen to what the people of texas say, if you listen to what the people of texas say they will tell you how to create great jobs, we have done it. neil: you know interesting took i know he is going to a technology company that supposedly benefitted from the type of targeted funds that

invest equipment credits. -- investment that he espoused but this a state that is stealing a lot of businesses from other states, california among them, because of the lower taxes and fewer regulation, but that something i don't think that the president will be champions later this week. >> i doubt he will, i am glad he is coming to austin, in my district, apple is building a huge facility. neil: i forgot about that. >> yes, that is right, they are hiring hundreds if not thoands of texans for this, reason they came to texas we have a fair, transparent tax policy, a balanced regulatory regime, we have fiscally responsible government, and we also believe in a true all of the above american energy solution, i am glad he is coming to texas, i would hope he would use two ears and listen and not talk as much,

i think that country would be better off if he would adopt our way of thinking about jobs instead of this big government issuwashington solution he kepts talking about. neil: critics of what you said, said that texas is anomaly in and of itself because of the oil. like the win at your financial back the. you say what to that? >> well, i would disagree. whole heartly, look at technology sector in austin that is booming that is done not because of his policies because texas is a state that realized, value of the individual, inherent value of private sector we try to get our policies right so that individuals and families can grow and thrive, compare illinois that operates same way that washington does or

california, look at way we do things in texas, you see stark differences. neil: true, the proof is in the statistal pudding, thank you. >> great to be with you again. neil: they are nonunion teachers but suing because they have to pay union dues, let me be brief, this is weirder than it sounds. at od, whatever business you're in, that's the business we're in with premium service like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our business. od. helping the world keep promises.

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like the union, in california, if you are a teacher, shut up, and pay these nonunion dues, some say that is ridiculous, they are suing, think they have a chance of winning,tain dana ss

yes, ashley said no. >> yes, now is the right time in 2012 supreme court came out with a decision that opened up doors to challenging any now forced union dues, knoxcatio case was t company usry dues, now it has opened up door saying that any forced dues may be an issue, the opinion was strong, when there is an opening they are jumping in now. neil: ashley, detail is they are working in a largely unionized work force getting the benefits, that is the argument that unions make for them having to pay up, whether they are part or not? >> you know, i think we have to look back to where unions started it was for collective bargaining so group unionized ha more power to bargain, it would be unfair for teacher too

get benefit when union. you could not second out those not members, we as americans are members of an organization we may taxes, we don't believe when we pay those taxes in what the tax dallordollars are going tow. neil: do that fly. >> i don't think so at this point, unions a long time ago had more power than now, people are saying, why shoul should i e forced to pay for these quote, unquote services that i don't agree with, i don't want to be a party of this is based on violation of freedom and speech, and association, firstmm violation, this -- first amendment violation, i think they have an extent argument. excellent argument. unions are forcing thins on

people, they don't want that any more, they are saying, i don't want your service, i should not have to pay for it. >> what if the workers said, ashley, if you are in a larger union job you pay those dues, whether you are a member or not, they say we'll be paid at a different scale and benefits does that differenceiate. >> that would be a nightmare, how could you second off section off the dues. >> you are not in that club, here is what nonunion members are entitled to with separate benefits. >> that would still be a nightmare book at bar association, every lawyer is a member of state bar association, it is forced upon us, i may not

agree. >> i disagree. neil: why? >> because, although you have to pay bar dues, no one is necessarily forcing something down our throat, bar does not regulate how much i work, what i make, or anything like that i'm a lawyer who goes out, i make my own decisions, i work when i want and how i want and what type of work i do, these unions for these teacher they do collective bargaining they affect their daily lives and these unions are very political, they also have their political agenda, that is parts of the problem with what the teachers are saying they want to be able to get up now and stand for themselves they should be allowed. it is not the same thing as a lawyer paying bart they are told what they can make, and how many hours to work it is der different. different. neil: this could reverberate across the country. >> absolutely.

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how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ >> i think corporations should

be part of it. >> all right ty are making money, time to put more money in the little bit. that was warren buffet, saying since rich are doing so well surely a lot can afford to pay up more, never mind they already have. it appears to be a billionaire saying that, nevertheless, charlie munger says he still does not get it. the fact is they think, many can and should pay more. >> he has been saying this for 4 years, he want the bust buffett rule, 30% capital gains tax, and. neil: higher than obama took it.

>> there is a fix going on, as you know we have the corporate income tax, how does warren buffet make his money, he owns companies and pay the tax, actually rich do pay a very high percentage tax. if you look at numbers that government puts out every year, top .01% pay a higher tax rate than a middle income, he said, i pay a lower tax rate than my secretary, that not really true. but,. neil: my bigger question to you is, at what point, have we satisfies to demandich pay more. >> i am a flat t guy, i want to get rid of loopholes deducts let's have steve forbes, 19% tax rate people like, warren buffet

can hide their income, one thing that who eithers me is what bothers me, warren buffett pontificates he takes advantage of one of the biggest dodges in tax history in terms of giving his money away to this gates foundation, none of that is ever going to be taxed. >> especially if you say, i love the government, we should give more to the government, and push comes to shove, give all to bill and melinda gates, than you with government. >> we're talking about billions and billions of dollars that will never be tacked. i regard that as a tax dodge, i think giving money to bill and melinda gates is a fine thing but should we not tax that, but tax people who are you know, working hard on their day job?

i'm not so sure that makes sense. neil: he alluded to strong markets and record, and that you know certainly wall street is doing okay. and alluding to a bunch trying to paraphrase, they can afford it. >> first of all, he is one of the great investors of all-times, he understands markets. and but look ft that we have a strong market, revenues are up as wall street does better, government does better, not like, you know, in a lot of money is not going to washington, we have a capital gains taxe have a dividend tax, and a corporate income tax we have so many layers of tax on the profits all right, a lot of taxes that warren buffet or a rich liberals, people get harmed by those policies are not the "king of the hill" but those who are trying ting to be king of te

hill, you cannot have incumbent rich people benefit from it. neil: i have a lot of can taxes with the white house they tell me. >> you are over there all of time. neil: they tell me, what is going on with wall street. what is wrong with doubling of dow, and s&p. >> true, middle class -- >> that is what they are saying. >> those are their policies issue right? barack obama. neil: they have widens that gap. >> it haseen trying to redifferent computer income we still have okay we have a -- redistribute income we have a widening gap? they are saying we're such a detriment to business, look at wall street. >> you know my feeling is, that barack obama is viewed by wall street and on business main street is less dangerous than it was 4 years ago, you know there

is already talk, only finished first hyundais in second term -- people are talking about him as a lame duck already. so, you know he just doesn't seem as harmful, i have said get the government out of the way,. neil: with regulation and that stuff increasing. >> you know, just not as bad as first term. with stimulus, obamacare bailouts,. neil: where do you think we would be without that? >> we would have 4 to 5% growth. now we're at 2.5%. neil: all right, steve moore one of the finest economic thinkers and writerrers, good to see you. >> i bet the biebs is peeved. at a big hack attack on twitter. that is right, justin bieber is

latest tweet victim. it gets worse.

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neil: did twitter just go one bad tweet too fast, did, tube go a pricey step too far, that and why old and fat is new hippie and hot, we blitz, see what you buy, in lovable contestant, monica and al. all right, developing story on gm. treasury saying we are going to cash out of the government, remaining shares of general

motors stock, it will take at least a year, and at a big loss. >> it's time to sell, dow is at a high, we've seen dow climb 20% but gm has been up down, and up down, it is basically flat with the ipo price. we'll cut the turkey loose, the price has to hit 52 for us to break even, not happening. neil: al? >> i think she is right. the tarp money about 95% has been returned. this will be part of it that is not returned. i think you have to look at what this might have cost if gm had gone out and all people had become unemployed. it might have been more than 20 million, i'm afraid that bailout of gm, and banks have

been so successful they will go to again next time the economy collapsed. neil: so, that their success or they are at least surviving, in some cases profiting, it would be tempting to do it over. >> they appear to have been a financial success, but tough to say it was a political success, vast majority of people look with loathe among the bailouts. neil: we will see. >> don't mess with the bieb, this dude in dubai, he tried to attack justin bieber at a concert. what really as bieber nators, false tweets that the entertainer is gay, not that there is anything wng with that but it prompted strong

deny niles from his people. >> denials from his people. >> not that long ago justin bieber was under fire for tweeting something about ann frank bein being a bleak belieb. we have to do something about the hack, the stock market took a tumble with the fall attack of the white house, you know, i don't know what is with news organizations, i should not say this because i am part of one, you can't have anything, you know these are they are getting passwords bss phishing.

>> but this is bieber. >> it is mazing extent that people look at news on quit flash sites like twitter, and take it to be the word of god. opportunity for information not to be accurate is too high. we don't treat seria sere socia. >> a lot of us do. i remember they said the same of blogs. they are now staples in journalism. >> i think, we're in a situation with computers doing trading they just read headlines, this is be dangerous, countsumers are getting wise, if they see a tweet that says justin bieber is

gay, if they want to know that is true they will google around. i find amusing when someone says that house has been attackeds are and $137 billion in lost on stock market in seconds because computers are trading. neil: alga rhythm is base the on those sequences of word, that tweet hur you heart about justin bieber, it is a toupee, is true. >> okay. youtube charging for certain channels? >> why wouldn't they, net flex has house of cards, and itunes and amazon on demand ts is a viable be channel.

neil: gone are days of free stuff. >> gone are days of some kid just staring into his webcam, and stating what is on his mind, you will have much my equal tie content, and internet, youtube, cable it is one big channel. there is a lot of revenue potential, they need to explore it, there will be plenty of free contend but better content you have to pay for. neil: they will taken ter views and segments from this show. and they are popular hits on youtube. think, well, they are paying cable subscribers who get that. now can g it for free, on youtube. but, it is a slippery slope. >> very. it something that old media will have to embrace. >> who are you calling old?

>> other fol here but not you. neil: our final update for you right now, following. remember what i said, i was built for comfort in my school, folks appreciate that, nearly 4 decades after i was striking out in high school with laids make that same pitch. that is finally registering today. i was ahead of my time, companies like highin hiring ols sexy workers they are more experienced and more reliable than younger ones, we're hot. >> well you know worse thing that happened to us in our our crew were computers and 20-year-old who worked for about half of what we worked for, they have displaced a lot of rail old people, if this is true. i am not sure it is, if there a trend, companies are realizing that you know some of us old

guys are start we have some experiences, and we' not relying on alga rythm to make a decision, that you might have better outcomes with i thinkingpying at theelm. -- thinking being at helm, i hope is true, there are a lot of old people out there that can use a second career now that social security is in jeopardy. neil: monica is shaking her head, she would have been so dismissive of us in high school, and move on to the quarterback. do you make something ofhis? that all of a sudden, there is a reason where companies are more drawn to older workers? they can be hired on the cheap right now. >> you geezers about half right. pa that is rht.

neil: enjoy your last stay, young laid. >lady. >> the party is is right. companies are looking for efficiency, they are not seeing growth in sales so they need increased productivity, worker that can add value from day one add value but workers that don't have special skills, they will use cheaper younger folks for those jobs, there is a paradox. depends on the value you add. neil: i'm a geezer who knows what paradox means, monica thank you, enjoy your last appear an, al you can come back any time. >> thank you, nile. neil: i am kidding, s&p, a record today, something ominous threaten that run, right in its track, after this. you hurt my feelings, todd. i did? when visa signature asked everybody what upgraded experiences really mattered... you suggested luxury car service instof "strength training with patrick willis."

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neil: nothing kills a good american dollar like retailers may not have any customers, robert, and david, say, kiss the surge and everything else about american recovery good-bye, if it happens how close? >> well, europe is weak, they have difficult prospects for recovery, german economy is starting to lose more of its edge, it has been fighting off recession, french economy looks like it is tipping over, italy has a lot of political problems. >> i think that euro is a balloon that has been slowly pricked and the air is -- has not run out yet -- but slowy.

>> yes, they have big problems, two things, that i'll add to robert's list, corruption, a the actual off th as terty prog, they are 54l poorly directed, governments have not down sized at all yet. a lot of this is going on in new york state, we have a huge corruption scandal, too were debt, it similar problem here. neil: you know, interesting. the worse things look over there the better things are for us here, it has always been. what say you? >> there is some sense this that, but they are market for us. more important, our own market

here, we have not been able to create job growth, get consumer confidence, factory sector is easing, only good thing in job report there was some sense maybe service sector is doing better, but all in all the last job report was about revisions to pass data, current month did not look good. neil: interesting, another aspect for multinational companies that make up the dow, and the s&p, europe start coughing, not going good for their business abroad, this rally short lived for them. >> they report their earning in dollars, if euro weakening or if the demand in europe goes down, that the earnings of u.s. company 92 they can't spreadhe wealth or have that offset by asia. >> that is right, europe is too big, you can't lose them and still do well even if you are

distants from them, it is better for us if europe came out of this great, that will take them beginning to have a restraint on their government size, they are going in the opposite direct puts more an moratorium eggs ine and more eggs in the basket of big government. neil: about what do you think? >> i am afraid that shaping year. we look into future, tax revenues, percentage of gdp are above historic norms we're running big deficits, obama still wants to spend more, and find ways to generate more renue, by taking wage reductions you from, i think we're following that path, and you know, i think that social security, medicare and medicaid are in big trouble it makes me angry to say politicians saying there is nothing wrong with the programs there is everything wrong with those, that is where we have to start, political

discussion. neil: we don't have that will to do it. other argument is that know not that we're great but we're -- we don't stink as much and we're sort of like the tallest dwarf of the room, hard leanne acts of praise but -- hardly an act of praise. >> europe has huge problem, france's government is 55 first of their economic. -- 55% of their economy, you can't run a market economy, you can't pretend you have a markettic web that number. last week in "new york tes" a big article about stain mayor. who -- spain the mayor on the take for these infrastructure projects, they are setting up swiss danka politicians setting up swiss bank accounts they are huge there we could take a

little comfort we're not as bad as they are but the problem is our systems are heading in that direct. >> we'll tell them later if we don't. >> we're in trouble, competing with the chinese, and competing with koreans and with taiwan, and low-cost producers, don't think about competing with europe could think about wom competing with the country with sharp pencils and low costs, we have a long way to go. >> in short run we should not be too pessimistic in human nature is wonderful in the world. they invent new machines, medication, machinery and software, the world is still going up. we -- i think it is. we can complaint about the politicians here and there a lot. but i don't think it is enough for right now to stop that forward move am. neil: right now, right now. >> here is what you knew this

whole illegal immigration bill was in trouble. the gang of 2. politician add a bunch of nutty provisions like protect for gay couples that had nothing to do with the alec, for this mission i upgraded your smart phone. ♪ right. but the most important feature of all is... the capital one purchase eraser. i can redeem the double miles i earned with my venture card to erase recent travel purcses. d with a few clicks, this mission never happened. uh, what's this button do? [ electricity zaps ] ♪ you requested backup? yes. yes i did. what's in your wallet? yes i did. are you still sleeping? just wanted to check and make sure that we were on schedule.

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laser i doubt this will be a large net drain that is wrist -- expected to have $9 trillion but taken in just under trillion. that is a net loss of $6 trillion over the next several decades. added time and we're desperately trying to rein in government spending, cutting jobs and social programs already in place, it seems outrageous we would add such the erroneous line item to the bottom line but politicians doing the negotiation there is a lot to lose, 11 million illegal immigrants and potential american voters that right now are poised vote for democrats 57 but what i see any piece of omnibus legislation or spending bills, this is of a target to add coverage and protection that many of us have nothing to do with the

issue at hand much like sandy when day package and other issues of has nothing to do providing relief. this is thatn steroids. >> with the associated writers are other provisions but the figure that heritage came up with is shoddy accounting at its worst and systematically dupont by conservative groups like americans for taxpayers and the cato institute. neil: not the revenue or the dynamic accounting for what they were legally? >> they figured out every conceivable costs and double counted then assume immigrants would only be pour in never increase education or wages. neil: they will all get social security. >> but they will also contribute more if they did

not put into their now. neil: said jim timmons said they accounted for the 3 trillion they were decimated. but to christians point* with south specifying how ey got that even number but the damage will far exceed whatever benefits we're getting? >> on one side i applied jim did for looking at the numbers of the economic emigration for i believe the policy should do what is best for our economy. to talk about europe and in japan is peope are literally not replacing themselves with of population. when the economy has such a low population representative ray we're on the opposite is right now replacing our souls at 2.one for families and we have to do better that is why i thai immigrants and irish immigrants with the economic

positive impact on this country and that is what we need foote. >> you can add have unlimited inflow or free boulder's without controlling those social programs that is a balance. >> we cannot control that for the americans not that we will controlt for those we hope to make legal. >> this is not about unlimited flows but what the omnibus bill that you are fearful of sets of future way to determine how many immigrants we need based on our labor market. so it is very common sense to have a workforce that matches the economic needs. neil: we will see what happens they debates and datan and the legislation empire to boston was looking like a sure thing now less than a sure thing. may beimpossible.

we will follow and also get the latest on the president's pitch for jobs and we said texas would be front and center in what it does right gets the withtion from the president melissa francis is next. have a great night. melissa: i'm mel -- melissa francis, if you own google and the ceo made money, s&p a fresh all-time high and google stocks followedded suit reaching a record close. larry paige owns 24.84 million shares of google, meaning he made nearly $393 million dollars today. is that ridiculous? monster bev ramming, the city of san fransisco trying to stop the company from marketing its energy drinks to kids. the city says it poses health risks to young children. shares of monster closed down more than 2% following the news.