that's it for tonight on "the willis report". thank you for joining yes. don't forget to record the show if you cannot get this live. have a great night, and we will see you here tomorrow. ♪ lou: good evening, everybody. thank you for being with us. president obama desperate for reprieve after two weeks a mont -- of a number of domestic scandals. the president trying to change the subject by delivering a white house speech on foreign policy and drone at tax. president obama could not escap the scandals that have been scared his administration and agenda. he was forced to respond to charges that his administration is blatantly attacking the firs amendment rights of our free press. >> we must enforce consequences for those who break the law and breached their commitment to

protect classified aberration. but a free press is allo essential for our democracy. that is who we are, and i am troubled by the possibility tha investigations may chill the investigative journalism but hold government accountable. lou: the president went on to say yet supported attorney-general holder to review justice department polic in dealing with leaves and that he must get back to him by mid july. he would not explain why the attorney-ggneral or part two @ months tell them the truth. approving the seizure of five - private e-mails, and the president cannot avoid the unpleasant reality that he s not the center of a number of scandals. fast and furious, and serving a the chief law-enforcement officer of the country while

being held in contempt of congress. the rest of the speech today focused on his plan to limit th use of drone strikes against foreign extremists. a threat is imminent, not just significant, as was the previou white house policy. the president announced a new push to close the guantanamo ba detention center, another of hi failed campaign promises from 2008. that, despite the fact that a new fox news poll shows a majority of americans, 68 percent, want to keep the present open. 20 percent say it should be closed. try as you might, the irs scandal is only worsening. the irs director of exempt organizations is now on administrative leave, but still receives a salary. house oversight committee chairman still wants to put her back before his panel to testify . he says he agrees with other

republican to determined that the decision tt plead the fifth yesterday was not valid because she also delivered an opening statement claiming her innocence . and house speaker today backing up the chairman of the house oversight signaling republicans will not be backing down. >> what is most troubling in this white house is that the lights were on but it does ot seem to be anyone home. the irs systematically violated the rights of americans for almost two years. the treasury apartment knew about this last year. the white house was made aware last month, yet no one, no one thought that they should tell the president. lou: meanwhile, democrats lousy failing in their efforts to diffuse these scandals. house minority leader nancy pelosi today took a swing at mitigating the president's responsibility that all rang hollow and pitiful when she said , the president does not

know about what is going on in every agency of government. well, the president's efforts t change the subject focused squarely on scaling back the global war and terror and plans to fixes broken promise to clos guantanamo bay. for more on the president's public relations maneuvering, w turn to fox news chief white house correspondent ed henry fo our report. >> reporter: president obama thought he would finally get a break from some of those other controversies by turning to terrorism today. >> close guantanamo today. >> reporter: was completely dashed by a heckling protesters demanding attention for the prisoners on a hunger strike at guantanamo bay. >> today. thank you. you should let me finish my sentence. >> reporter: the president pushed through his broader message to dramatically scale back the war on terror, startin with delivering on his failed

promise to close the u.s. military presence at guantanamo. >> i am lifting the moratorium on detraining -- detaining transfers to yemen said that we can review them on a case by case basis. >> reporter: more than half of the detainee's cleared to go back to their home countries ar from yemen and have been waitin over four years. >> on the issue of guantanamo bay, we place to work with the president. this time we hope that there is a coherent plan for addressing that issue. >> reporter: the president spoke of a bigger focus on home run terror, like the bombings i boston, even mentioning that th attacks in men gauzy is proof that the outside is being defeated. >> have not carried out a successful attack on our homeland since september 11th. >> reporter: also offering an unprecedented level of detail about his administration's use of drone's acknowledging for americans have been killed overseas, but he is now limitin

their use. >> before any strike is taken there must be near certainty that no civilians will be kille or injured. the highest standard we can set. >> reporter: the republican chairman of the house armed services committee declared in statement, the speech was only necessary due to a deeply inconsistent counter-terrorism policy, one that maintains it i more humane to kill a terrorist with a drone then detained and interrogate him. the president declared a global war on terror started by then president bush is now over because he believes the threat can be managed. >> beyond afghanistan we must define our effort not as a boundless, global war and terror , but rather as a series of persistent, target of effort to dismantle specific networks of violent extremists the threa of america. >> reporter: the president added that constantly being on war footing becomes self-defeating. senator mccain fired back that this defies reality, noting tha

al qaeda is reconstituting itself all around the mideast. lou: and thank you very much.@ ed henry, fox's chief white house correspondent. joining us now is the "a-team". let's start, if we may call wit you. this is a president who is changing their rhetoric about the global war and terror, seeming to want to adopt some narrow specific language about the threat rather than put them together and make incomprehensive. is that the way that you would read the president's statement? >> i was just amazed that you could actually frameeit that wa because this was an entirely rhetorical device on the president's part. you're right. there is no there in the president's speech. the war and terror will live in

simply because he willses, and whether or not he calls it a wa on terror or a series of persistence, targeted effortssto dismantle specific networks of violent extremists, heaven help us if we have to use the word i law make or islamist. it is the same. you cannot just kill him and sa no problem. we will move along. lou: specifically i think ffrst and foremost because of this president is not accountable to the american people, what diseases were taken that led to the vulnerability of our installations in benghazi, the murders and the wounding of others at benghazi, and a nine month stone wall. >> i think you're getting to something very specific. a lot of people take a look at the speech at the last nearly five years and say this president does not have a coherent plan will national-security strategy. when it comes to the middle eas and the war on terror and dealing with this specific enemy

, i think the exact opposite is true. i think that he does have an approach that is actually working against our interests n that is to elevate the islamist across the region. you see it happening in egypt, tunisia, libya, now in serious. the same time, he has limited america's -- that is a huge mistake because americans islamist enemy is not limited t al qaeda. lou: a real mistake. >> beating al qaeda as the enem is so much bigger. lou: is in the real mistake her that we have not destroy the enemy? we have been engaged with the enemy for 12 years. this is a president now talking as if now is going to be a high at -- high noon and the war is over. >> starting with guantanamo. the guys that are there are

still bad guys. you send them back to yemen, which is not a safe haven for us . it is a safe haven for terrorists. equally important, drones have worked effectively. lou: when you are saying is the president is now going to be releasing terrorists with a recidivism rate of about 28% or more and also limiting the use of drugs which have been the most effective means that he ha employed in the war against radical islamist. >> and then argue unless you ar sure the person is a terrorist and they know that there is no potential of any other casualties, it is crazy. lou: we have given the present his do. we have dealt with the subject. now let's go back to what is really important, and that is a government that is lying to the american people, refusing to answer to congress and be accountable and to hold accountable those who serve thi

government and to have consulte our rights, whether it be the first amendment, targeting conservatives. your thoughts? >> he said that he is troubled by the fact that his own attorney general signed offfon warrant i gainst james rosenbaum , the fox news correspondent. lou: two years ago. >> two years ago. troubled by that because he realizes that what that did was to criminalize news gathering, and yet he expressed this great confidence in eric holder. isn't there a disconnect? shouldn't people be asking whether or not this makes any sense at all? lou: a disconnect or an outrigh @%ception? >> if you look at this from 30,000 feet and see that benghazi cover-up, the department of justice buying of reporters and editors, like the irs scandal, it all makes perfect sense. in 2008 as president talked of the fundamental transformation

of the nation. he is assaulting the first amendment caught trying to eliminate the second amendment, salt in the fourth amendment, assaulting the tenth amendment. lou: wait a minute. >> every possible way, every major right the americans are afforded in the bill of rights he is attacking. lou: he is preserving the fifth amendment. >> suddenly they revere the constitution. >> it does not matter. and believe two presidential administrations in which scanda starts and you don't get to the bottom of it and you are thomas sooner or later it unravels. this will unravel. totally effective legislation the next few years, and this president is under siege and ca do all the distractions he wants . the american public will see through this. >> i hope not because this country has a lot of problems that need to be solved, and i hope we don't have been an effective president. >> he was not an effective. >> that depends on whether -- how aggressive the press is

going to be in pursuing. it. lou: i am impressed to this point. the national liberal media is beginning to demand something o itself as -- >> but it is only when they com after them. lou: i have no problem with people's motivation being self-interest. thank you very much. thank you very much. well, much more on the scandals that are now engulfing the obam lighthouse. you'll be talking next with former speaker of the house. talk about flip-flops'. the president going out of his way to side with fox news now. how about that? the latest on the justice department assault on the first amendment. new data showing signs of improvement in housing and jobs. wall street veteran tells us whether the markets are headed for, well, recovery next.

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♪ lou: trying to get a sense of what is going on in the market, this economy, stocks falling bu finishing well-off of lows afte a sharp sell-off in japan and concerns from fed president regional bank president, fed chairman, the minutes. the dow, as a result, down 13 points on the day, the s&p lost five. volume on the big board, almost 4 million shares. got to cut jobless claims falling on the week. sales of new homes of more than 2 percent last month with price climbing to a new record high. all good news on housing market. three senior executives,

advisers receiving subpoenas as part of the government's insider-trading investigation. directed to the firm's chief compliance officer. none of them have been accused of wrongdoing, and it has acted appropriately to it -- appropriately the route. gold prices getting $24. crude oil flat on the day and a the bond market, the yields on the tenure falling slightly. my next guest says it is a natural that we have gone this long without a correction and . joining us now, the chief investment strategist for montgomery scott. good to have you here. this market reacting principall to fed presidents regional presidents, the fed chairman, the fed minute, and the

so-called fed watchers, the savant's a telescope that that really meant to say. looks like at this point today after watthing it tips toward the teapot. >> well, clearly. you know, fed policy is having tremendous influence on the market at the moment. we know that the relevant to th room as it relates to the 0% interest-rate policy, the bond buying programs by the end of the year at its current pace could add another $1 trillion o to an already $3 trillion balance sheet. the big question that everyone is trying to tease out for ever word uttered by mr. bernanke is when or if this tapering progra will begin and how all the consequences will affect the market. lou: here is my reading of the minutes, i'm reading of what th fed chairman said. they're going to start slowing, thinking about how to do that, not when to do it, but how to d

that at the next meetiig which comes up basically the middle o next month. i don't see any excitement because we all knew that that would occur. the seems like a pretty good indication that they see some significant strengthening. fortunately it does not relate to six and a half% unemployment rate because they're all talkin raising rates but about scaling and making appropriate the leve of stimulus to the bond purchas program, 85 billion, 50 billion whatever it may be. why the market reaction toowhat seems to be an entirrly rationa thought process of part of the fed? >> you just described the investment thesis. why they should remain committe to equities even if we experience near-term turbulence because market participants interpreted everything you just said as a warrior in terms of the evaporation and liquidity that they assume has been stimulating asset prices that has no fundamental underpinning in helping the underlying

economic activity. that said, i think it is rational to is an executive you described. i would interpret that as good news, a lack of intervention ultimately is what this market is going to need to be able to get much better direction from the signals that it could interpret from the economy, the stock market, the bond market. that has largely been muted by the fed's intervention. lou: it could not find a single negative from today's metrics o of the housing market. it is an improvement. where are the negatives facing this market both within and without? >> certainly within the news continues to accumulate that capitol spending, we're startin to show signs from businesses that are sitting on tons of cas

so their resilience. it's almost exhausted. this snapshot. the boom bust line at 50 for th first time in seven months. that's a little worrisome. lou: there is still -- [inaudible question] phrase this delicately? minor potatoes as far as the global economy is concerned. it is just not that big deal. this is the economy that is going to drive. europe is the economy. it has to move. those are the focus is a seems to me. these markets can stand on thei own.

it is all about what we're doin here right now. >> consumer drive is 19% of global economic activity, so fo that reason it is a very sound foundation and a global activit as long. steady economic growth domestically. and people lost the importance of the u.s. markets is always a good to see you. we have great authors do we talking with dr. marina. dollars and sex. two topics we thought my work o

this broadcast. why america's best days are yet to come. authors of the new book america. they join us. fox news contributor colonel ro peters joins us to talk about his latest novel. great stuff, and we hope you will be with us. up next year, label the nationa security threat by attorney general holder and the justice department, fox news reporter james rose and now has the backing of the president of the united states. where was the when he was needed ? and later, the speaker of the house blasted the president ove the obama era scandal. joining me to talk about the speaker's words and his likely actions next. ♪

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on whether to sentence a woman to life or death, the same jury convicted her of firrt-degree murder just two weeks ago. she stabbed, slashed, shot, sli his throat, what authorities ar calling a jealous rage. says the jurors are unable to come to a unanimous decision, a new jury will be selected . if the new jerry encounters thi same gridlock, the death penalty will be removed and the judge will determine the sentencing. it would be either a choice of life with the possibility of parole or natural life. the obama just as department heavy-handed attacks on journalists and its assault on the first amendment and the fir today for more of the televisio

news business is most influential and successful leaders. fox news president. this as reports surfaced that attorney-general holder green light to the investigation into our fox news colleague james rose in and other colleagues. fox news correspondent doug of callaway has the report. >> the president this afternoon appeared tt come down hard on the kind of tactics used in the justice department investigation . fox news chief washington correspondent co-conspirator in the league of national security secrets. >> journalists should not be at legal risk for doing their jobs. that focus must be on those who break the law which is why i call on congress to matt to bypass the media shield law. >> u.s. attorney's statement from yesterday does little to call suspicion. we did not wiretap the funds of any reporter or news organization, nor do we unmonitored track phone calls and many reporters parents.

no records were obtained from the computer services of any of these organizations. e-mails from the personal accounts were retained, as were details from his cell phone and his parents found indicating a they called, with calls were received, as well as time and duration of the calls. in duration, doj court document show the first six digits from several other redacted court documents match the first digit from the white house, pentagon, and state department. without the full visits we cannot know for certain his numbers are targeted. attorney-general eric holder said he recuse himself from the investigation that involved the seizing of phone records of the associated press. he was less precise on whether he would be involved in the prosecution of rose and. >> i take it very seriously and know that i have refused to sig a few, pushed a few back for

modification. >> asked whether secretary of state clinton was asked a spokesman said this. >> , a personal matter. >> box is chairman sent a message in which he said, the administration's attempt to intimidate fox news and its employees will succeed and excuses will stand either the test of law, decency, or time. while not allowing a climate of press intimidation and scenes a the mccarthy era to frighten any of us away from the truth. lou: thank you very much. tad and important reminder n his note as we prepared to hono

those who serve this nation is memorial day weekend. quoting him now, too many americans fought and died to protect our unique american right of press re and -- press freedom. to be an american journalist is not only a great responsibility but also a great honor. we continue in one moment. the senate set to take up the gang of eight immigration plan, immigration scholar, kansas secretary of state on whether the bill is worth the paper is printed on. the president desperately tryin to divert the media from scandals to drones. former speaker of the house reacting to the political and public relations maneuvering next. we went out and aed people a simple question: how old is the oldest person you've known? we gave people a sticker anhad them show us. we learned a lot of us have known someo who's lived well into their 90s. and that's a great thing. butven though we're living longer,

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♪ lou: joining us now, former speaker of the house.

it is great to have you with us. i want to turn to sex beach handless. the senator said, the president's speech today will b viewed by terrorists as a victory, closing guantanamo and lifting the moratorium on transferring detainee's to yemen . this is an extraordinary statement by the senator. do you agree? >> absolutely. we created guantanamo to make sure that we take these people who are proven terrorists beyon the average criminal and have dedicated themselves to destroying the as states. guantanamo was a safe place to put them. of course, it has been under attack by the sub ministration forever, but this transfer to %-sieve. like putting them in a there will be back in the system . lou: recidivism rate, 28 percen of them returned to terrorist the activity. we also have this extraordinary conflict in the policies of the

demonstration. the president announcing yesterday that there are four americans that have been targeted and kklled by german tax. at the same time, talking with great passion about the necessity to maintain high standards for our court system, terrorists. it is a bizarre and obvious conflict and the, if you will, intellectual and architectural values being followed by this administration. >> this is simply an administration that does one thing and says something else, the american people. i am not sure that they have an incentive grant reforming their behavior. has been outrageous parody go back to the attorney-general. he has a record. he just did not come out and se during this administration. he was there during the clinton administration. every time i sat on the committee that we wanted to bring janet reno up to ask a

question, ask them about waco o later on about other issues, up came eric colder with his own version of the truth. and he has the audacity to challenge anyone ever ask him a question. an answer as he was the facilitator of the famous clinton pardons at the end of his second term as president. but moving to holder, he is at the center of so many of these scandals. he stands as the chief law-enforcement officer in contempt of congress. he is involved in fast and furious, and it was his activities there and his response that led to it. involved in the justice apartment, to be kind come overreaches and abuse of power, whether it be in the seizure of the records of reporters and editors of the associated press or the declaration that is an

affront to common sense and decency and rooped by the fbi agent, a u.s. attorney and the judge approved the seizures of records from james harrison. this man is at the vortexes of so many of these candles. >> you lay out the indictment pretty plainly, with the same guy comes back and a tax someon for doing his job in congress. he forgets that there is a separation of powers. >> a separation of powers. and, as you point out, while he has stonewalled congress on fas and furious, done precisely the same thing in every other inquiry of this department's. we are watching the internal revenue serviie, as you well know, basically say to the representatives of the american people, stick it.

stephen miller, the acting commissioner with his head down saying -- not even raising his hand -- had to maintain eye contact, at least courtesy and respect. he looks down at the table as h replies to my did not like and when, in fact, he was lying through his teeth by omission. >> i have been around governmen for a while. a round of bureaucrats and several of ministrations. but when mid-level government bureaucrats to have a pension and a job on the line, they did not instigate these things by themselves. it has to come from someplace else. i did not care what they say an what day and night. that has to come paul winehouse. lou: will we see the oversight committee, the ways and means committee, any one of hese committees jpmorgan the truth here?

>> i think i said will work and work and work. one of the people that ppt them on that committee, very smart, and high integrity. lou: turning to the judiciary committee that reported up the so-called gang of eight and a senate plan, your thoughts abou that and its likelihood of succeeding to passage in both the house and senate? >> it may pass in the senate. they can rock shop on if they try to filibuster. but think it is going to have a tough time in the house. and i think that the vulnerabilities are, wherever you do, you have to make sure that our borders are secure, absolutely secure because not only do you have the legal and rinse and villains come up, but

you also have folks who are carrying drugs on their back coming up. you have to have a very, very tough border provision, and tha is nothing to the ability of th senate has that. on the other side of that is yo give the administration a lot o flexibility to administer a law. hell, i remember back in the days -- i guess i am too old. al gore was registering illegal aliens to vote in the election. that all comes back. lou: and it is also why that experience and wisdom is priced. we appreciate it. good to have you with us. >> my pleasure. thank you. lou: we invite you to take a minute to go to loudobbs.com. find a link to our facebook page . tweet me. up next, updated assessments in the damage from the oklahoma tornado. the divested community.

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we're making it. ♪ lou: mourners gathering in moore, oklahoma today for the funeral of a 9-year-old girl wa killed in monday's devastating tornado. today's funeral is the first since the storm. twenty-four people were killed. more than 300 injured. authorities say nearly 1200 homes in oklahoma city in the suburb of moore were either damaged or destroyed. the damage estimated at over $2 billion. scullin yard says to more peopl now have been arrested in connection with the hacking death of a british soldier in broad daylight on the streets o london yesterday. the first two suspects who were captured on a bystander's video and arrested at the scene remai in custody, hospitalized in

stable condition of shot by london police. according to a two headliners the suspect was seen will lay bloody butchers knife. the suspects have previously been investigated for terrorist ties. president obama called an attac senseless violence. the british collet terrorists. a huge decline that country's teenage birthrate. according to the centers for th team -- the center for disease control the teen birthrate fell 25% since 2007 to a record low of 31 births per 1,000 teenagers , the lowest teen birth rates are in new hampshire and massachusetts, the highest in arkansas and mississippi. it is good news.

coming up tomorrow, a number of white house scandals slowing th president's second term agenda. is it, in fact, that agenda? is it, in fact, debt? we will be talking with a congressman on the internal revenue service scandal at the white house, senator jeff sessions on the prospects for the gang of eight immigration plan, former senator -- senator scott brown will be here to tal about a white house that is engulfed in scandal. and my next guest argues that love and sex is not all about the motion. she says economics play a big, big role. she will join us to talk about her brand new book, dollars and sex. that is just about all there is to say. no. not even close. we will be talking here next. ♪ alec, for this mission i upgraded your smart phone. ♪

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♪ lou: a new book claims there is a marketplace for sex and love, and we all live in it. using the economic principles o supply and demand, she unlocks the real reason to react the wa we do in our personal lives. joining us is the author of thi brand new book, dollars and sex. good to have you with us. >> good to be here. thank you. lou: let's start with this -- well, what i just reported, 25% decline in teenage births. that is a remarkable -- that is a remarkable improvement in something that we are all cheering. >> it is a great improvement, and it is not just one time drop . a think this is part along bertrand toward declining birth rates. interestingly, the biggest reason is that teenagers just

turned having sex and haskell the way that they used to. promiscuity has fallen in as cool. to me as an economist my perspective is affecting that the students recognize that in the current economy is so important to stay in school, so important to go on to college and having a little more education after high school. i think message respond to that by being in the more cautious, the seven lots of evidence. the once again -- afford to go to college and how many sexual partners they have a high-school . it. lou: in that, you are ascribing somewhat more maturity and the partisan judgment of the part o teenagers and some alarm having affairs as adults, married adults, and supposedly monogamous relationships. >> the problem, it is not just maturity.

they're making rational decisions. i think average. they need to be more cautious. they worry about job prospects and do respond. they have seen what is going on. lou: some of these sub tells th you put to the book. a truth universally acknowledge that a single man in possession of a good fortune must be in want of a wife or two that hold universal. >> that is a crazy line from jane austin, but that is actually talking about polygamy. addressing this issue as to why the united states does not have polygamy across the board because of the interesting things is that economic theory predicts that in a country like the u.s. for you have a big

inequality in terms of the very wealthy man, why it is they don't have laws that allow them to have multiple wives. it is interesting because other countries, the wealthy men have multiple wives, but in countrie like the u.s. and the rest of the developed world, they don't. i talk brought that in my book as economic results. lou: you say that wives pay a price for taking their husband' name. how so? >> yes, that is interesting. a feeling that the dead, the difference between women who take their husband's name and women who keep their name, ther is a wage penalty that goes to taking your husband's name . even if you take into account education, there is still -- still awaits penalty. the reason is that when a woman keeps her name it sends a signa to our potential employers that she is committed to change -- staying in the workforce and is rewarded for that, signaling her

commitment by being a paid a higher wage. a lot of women don't want to hear this because a lot of wome continue to red tape their husband's name. lou: in some ways i can figure out reasons and go back to the teenage sex and birth thing. you point out condom availability in schools actuall increases teen pregnancy. talk about counterintuitive. >> the interesting thing about looking at the data and using. the way i do is that i am constantly coming across things that surprised me. a lot of their results are very counterintuitive, in the race agree one. lou: ten seconds. >> their greatest pregnancy fre and routines cause of their talking about condom availability for 14 and 15- year-old. you give us to this effect when you make them available to olde teens, and the argument is --

lou: i'm sorry, we're going to have to leave it there. we appreciate it. the book is dollars and sex. it is on our website, in nylo bookstores.manang t cut to loudobbs.com. thank you for being with us. we oversee 20% of the world' financial assets. and that giv us scale and insit no one else has. investment magement combined with investment servicing. ingihe power of investments to people's lives. invested in the wod. bny .

neil: all right, well the president must know, this irs thing, far more terrorizing. welcome, everyone. i'm neil cavuto. whenever your views on the president once again pushing th so-called terrorist camp down, try as the mighty can i shut of these scandals, especially the growing irs mess. word right now that lerner has been put on administrative leave . more than benghazi in the white house talking points to more than the justice department's nipigon reporters, more average americans relate to tax targets than almost any other.