government is anything like detroit, america is in big trouble. that's our show. see you next week.d a great ime. have a fantastic night. ♪ neil: good evening, everybody. thank you for being with us. president obama, again today, appearing to meander around the country without purpose or noticeable result. the national media, including us here find is convenient to call the sudden lurch from scandals and busted foreig policy to speeches about jobs and the economy is pivot, but it's not clear whether pivot is the correct description. it appars president obama is more focused op ttacking republicans than anyone who disagrees with the agenda. ose who have the ner to investigate the numerous scandals that engulf the

administration are in thecross hairs. here the president earlier day making it clear how he feels about anyone who is not on board with his tax and spend plan to grow our economy. >> repeing obamacare and slashing budgets in education and research and infrastructure, that's not an economic plan. there's no economist who says, well, that's the way to help middle class families. we're going to grow doing that. shutting down the government just becuse i'm for keeping it open, that's not an economic plan. threatening that you won't pay the bills in this country when we've racked up the bills, that's not an economic plan. you kno, that's being a deadbt. louthe president is, in fact, talking longingly of a middle class he seems to have done his absolute best at times to beat

down. he's raised taxes on the middle class, said he wouldn't, presided over the diminishment, talks a lotbut the primary result has been greater dependency on government. he has shoved obamacare down the nation's throat, a law that 533% of americans now oppose according to the latest fox news poll. he's beaten down the net worth of millions of americans by failing to restore the trillions that hve been lost in housing value, the loss o millions of jobs, and s administration seems all too content to call the chronically high jobless rate in the country the new rmal. on this, the second day the most recent so-called private, it's not clear what he's pivoted to. it's not the specific concrete actions that would alter the plight of working amricans, unemployed american, and everyone who expected him to do a lot more than just talk. well, the president resumes his

push for ever-bigger government, higher taxes, higher spending, attorney general holder, today, resumed his ideologically inspired campaign of race and partisanship. speaking before the nation urban league in philadelphia, the attorney general proclaimed he and the president will set a new course to subvert the supreme court's recent ruling o the votng rights act all to prevent the state of texas from exercising the 10th amendment rights recently affirmed by the supreme court. it's the new voting and election laws. the correspondent has the report. reporter: one month after the supreme court rejecteda part of the hi965 votes rights act that monitored eleetions in mostly southern states, u.s. attorney general eric holder did the opposite. he announced that the justice department is targeting texas, trying to force the state to get federal approval for anychanges

in his votin laws over the next cade. voters spoke at the annul urban league convention in philadelia. >> it is the duty f today's justice dppt to continue to monitor jurisdictions around the country for changes that may hamper the voting rightings. >> last month, hors after the rules, texas was the first state to react implementing its new voter id law, but holder citedded another court decision finding texas legislators lan discriminated against latino voters. >> this that ruling, this is what the court said, and i quote, the parties provided more evidence of discriminatory intentthan we h space or need to address here. that was a federal court that said that. >> reactions sharp. rick perry branded the move as an end run around the spreerm court says, quote, the obama administration is demonstrating

uttee contempt of the checks and balances, not to mention the u.s. constution. republican senator john cornin acushioned the white house of bullying the state for partisan, political purposes. >> part of the ong-term strategof the aadministration is to turn texas blue by engaginin bogus political activity to aise concerns with rerd to things like minorit oting that simply are not supported by the evidence, and i think this is to create a false impression that somehow minority rights are not protected, which they are. >> texas republican seator ted cruz critical accusing the attorney general of politicizing the justice department saying the refusal to accept the judgmentf the u.s. supreme court regardi preclearance continuing the department's pattern of refusing to follow the law. the controversial houston based

group, true the vote, promised legal action saying it's the same justice department that, quote, criminalizing gormism and fails o prosecute irs agents. mr. holder says he plans to pursue more voter issues in otherstates. lou? lou: thank you. federal prosecutors today bringing criminal and civil charges against sac capital advisers accusing the hedge fund of a decade-long insider trading scheme. u.s. attorney saying billionaire stepn cohen's company has been a magnet for market cheaters. >> wen so many people fr single hedge fund have engaged in insider trading, it is not a coiincidence. it is, instead, the preictable product of ubstantial and pervasive institutional failure. as alleged, sac trafficked

inside information on a scale without any known precedent in the history of hedg funds. lou: eight sac employees have been found guilty or chrged with insider trading, cohen s not facing criminal charges himself, but the move could end his careermanaging the money of other people, and the federal gornment now wants $10 billion for the alleged trading violations. for more now on the charges against sac, we're joined by fox business stocks editor liz macdonald. great to have you wh us. this is a block buster set of charges. >> it is a block buter se of charges, and we're waiting to see if steve cohen himself is criminally chargedded. we asked at the press conference, if, in fact, they plan to do that. he said, we ar not going to p comment on what tomorrow may or may not bring. we asked the top official at the fbi if they are developing a criminal indictment against steve cohen, and he says they

are pursuing all leads, and and it could be a developing story. this is my last sense of the fbi ying about the case, lou. lou: would you clarify the charges gebs the firm, against the individuals where -- what is the object of the charges, specifically? >> the object is specifically rampant insider trading. in other words, the 4 is 1 -- 41-page indictment encouraged cheating and recruited executives with insider contacts to et that information, and the indictment says that steve cohen was rewarded, basically, he rewarded individuals for passing on inside informaon to hm, so, ewe know, this is a case, basically, wheresc is saying we are operating with honesty, no freeze on the assets, but we could have an author anderson scenario. that company collapsed, and

28,000 people lost their jobs, sac capital is saying they are operating. lou: it is operating. it is, of course, a huge fund opposed to a professional services fund, but the justice department has been very caeful, and he man behind the anderson charges, all those years ago, which was unprecedented and has ben -- has not occurred sense, the justice department attacking the firm destroys that firm. >> that's right, ieu. lou: heavy handed, and were ever publicly honest about it, expresses deep regretin costing ,000 jobs. that's mad. >> it is rare for the government to do this, but they said, sentially, said time and again that they have possible proof of insider trading. a 2008 e-mail, for example, forwarded to cohen from a top official on sac says we have a solid read on dell's earns, before the announcement came

out, and he sold his position in dell. a 20-minute phone call between cohen and another official about drug stocks in a development. lou: deserving great credit for having the guts t bring he case based on insider trading and in the case of steve cohen himsf appears the failure to supervise a copany that he owns, by the way, 1 # 00%. this is -- this is always a difficult charge to sub stanuate, one few prosecutors bring. what do you assess th odds are right now? >> you know, oughly 80 people have been chargedded with insider trading. 73 eithe convicted or pleaded guilty, so what we are seeing right no, though, is there's other breaking news. the hemming fun itself is hiring lawyers that represented others in the insider trading case and represented elliot spitzer in his case, basically. we're seeing this is going to be

an up folding story. we could see, possibly, more indictments beyond the eight officials who have been charged already. lou: intrity of the markets at issue, and that is the premium investors around the word pay for, straight, clean, an honest market. >> that's right. lou: as best as can be regulated. thanks so much. >> sure. lou: we appreciate it. fox business fox editor. a choppy session on wall street, stocks finishing higher after mixed reports. the dow up 13 points at the close of business, and s&p up four, nasdaq u 26. the number of people applying for new unemployment benefits rose slightly up 7,000, but still in the 340,000 neighborhood, 34,000. good nes, in effect. durable goods orders jumped 4.2 # #% in june, an increase in aircraft orders leading to a third straight month of gains. facebook, the standout performer

in the technology sector. facebook doing great, rally, largest ever for the stock, surging more than 30%, beating targets, and that made investors mighty happy indeed. ♪ president obama pushing infrastructure today. that means higher taxes. grover norquist don't like that. the antitax crusader more when i fit felt the diabetic nerve pain, of course i had no idea what it was. i felt like my feet were going to slee it progressed from there to burning... to like 1,000 bees that were just stinging my feet. [ female announce] it's known that diabetes damages nerves. lyrica is fda approved to treat diabetic nerve pain.

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lou: my next guest is known for his strong antitax poitions, now weighing into the immigration debate as well. here to talk about whether immigration reform is a proposal

swrels the president's latest pivot to the economy is rover norquist, president of americans for tax reform, author of the taxpayer protection page. grover, great to have you with us. >> great to be with us. lou: your reaction, and i don't know that "pivot" is the right word, but using it for convenience, at least, the private away from scandals and foreign policy failures and failings, and into the issue and speeches of the jobs and the economy. >> well, look, this is another one of these message icare. everyonce in awhile after ignoring the economy, he comes back saying he cars and wants to do something about it, but he might as ell just repeat the speech given the last 12 times of wanting to raise taes and spend more money. every time he talk about the economy, he wants to raise taxes d spends more other

people's money through the government. this gets tresome. it's not worked for four years. think detroit. lou: thinking detroit, and we're going to take up that issue later here in the boadcast with a congressman who wants the federal government to step in. do you think that is going to be the direction which we go with these municipalities that -- some not as large as detroit -- none larger that we're aware of -- when they do go bankrupt because they surely will. >> the huse of representatives and the senate will not allow the president to trow american taxpayer money at detroit or other faild cities. detroit has had decades of warnings. they were spending too much. they regulated too much, drove people out of the city, governed poorly. they didn't care. they thought they'd be bailed out and other people would pay for ther mistakes, and the aner is, no.

enough cities and many states have begun to turn themselves around on unfunded pension liabilities and civil service costs. those states, you know, utah and wisconsin and new jersey and louisiana, thoe states will not lose their taxpayers to pay for city and states that didn't do anything to take care of themselves, not happening. lou: and turn now to immigration. word out today, breitbart.com reporting saying there's corroborated sources saying congressman goodlatte, chairman of the house judiciary committee, is ready to rescue the once dead on arrival gang of 8 immigration bill. your reaction? >> well, that's a sillyway to put it. what goodlatty's going is what the republicans in the house always said they would do, always vaguely interested in what the ?t does, not always

going to agree what the senate puts out is the opening bid, but the house republicans want to see the border made secure without sending a jillion dollars, doingsomething on the dream act for people who are four years old when they came across theborder and are now in colge or trying to get into the military. we need, as an economy, more h 1-rbgs b visas. we are telling people you can't come here, stay in inya, and start a company to compete with us, can't come here, move to canada, and compete with us. that's silly. come of the best minds in the world wanto come to america. be americans, and create companies that compete throughout the world. lou: grove-- >> we want those people. lou: i get so tired, frankly, of the immigration debate because there's so much misinformation spewed by well-intention people, and intelligent people, none more than better intentioned than ou, none brighter, but the fact of the

matter, h1b visas are not the issue at all. we have and available to us a tremendous number of h1b visas. doublehat or triple it. the fact is technolgy compies and principle among them are outsources companies and principle among those are india outsources companies using he visas, and they are striking at the heart of people, american citizens, who are seeking those jobs. if we want to do something serious, then, i have to ask you this. why in the world, where have you been, ere has the chamber of commerce been and others in simply opening up visas to tose most skilled and highly intelligent and educated and bringing them to this country because in each instance, you're not talking about those people. >> well, we should be. i say h1b, peop generally mean high-tech visas. we're talking about stem education, pple who come to

the united states, get aph.d. -- lou: science, technology, engineering, and mathematics. >> a we throw them out of the country. lou: no, no, we do not throw them out of the country. >> we don't let them stay and work. lou: we can't discuss immigration without denigrating the country and character and welcoming immigron policy, i tell you this, you all are doomed to further failure. do the right thing. secure the brder, quit gaming the system. talk honestly, forthrightly, and that's wt the house is doing. it has a chance of working. don't you all screw it up. >> lou, that's exactly what we are looking to do. we've been -- lou: to screw it up? >> no, no, no. the effort to allow some of the real talent in the world to come to the unid states, and we do tell people with stem degrees that they can't stay, lou. that's just the fact. lou: here's the other fact. there are three nations in the world who bring as many people into their country as

there are a handf of countries in the world combined who have a generous an immigration policy. >> that's wy -- lou: move beyond this and stop denigrating the country and move ahead to actually reforming immigrion law and doing it in the national interest, and they have the chance of doing it. if he rolls over for those who want to throw the borders open, it's going to be a day of absolute dispairin this country. do the right thing. do is the right way. >> that is exactly what we're working on doing, and the ente business community and all the various communities are united in making the steps forward. i'm supporter of a ronald reagan, jack kemp approach -- lou: i love it whenpeople talk icons. he's the deal. >> okay. lou: how about this? in the national interest right now, in the country, talking about the sovereignty of the nation, secure the border, and i

don't mean playing rhetorical games with operational controls as this secretary of the department of homeland security ich will soon be leading the university of california system. >> look at the proposal that congressman of texas put forward. i think it's a serious grownup effort that will secure the border. he's put it forward. it's been passed through the republican committee there. i think that rather than what the senate dids an improvement. we have to have a guest worker program, talk to farmers and dairyman. they can't get workers needed in the country to -- out to the farms which are temporary jobs. lou: grovr, i heard the same rhetoric, the same reasoning, the same ideas in 2006-2007 when it went down to defeat. we don't want that to happen, so let's go to the issues- >> some people o. i think the president does. i thi the president does not -- lou: i'm not going to cast dispersions on this or question

motives. if you want to reform immigration, and you must control the border because if you cannot control the border, you can't control immigration, and everything everyone says about it after that is pure bull. it has to begin as a condition preceding actual, real bone mid, verifiable just as the house jew delicious rightact moved in legislation. do you support that aroach? >> you seem to be trying to sagree with me when i'm not sure -- lou i'm trying -- you mistake my words. i'm seeking your agreement. >> okay. yeah. i don't think we disagree. lou: say, ye. >> lou, w have not been disagreeing. i don't know why you are trying to disagree here. lou: i'm simply seeking your affirmation, your agreement. >> yes. at goodlatte is doing and

republicans in the house are.cc are being serious about border security, which this administration has not done. the senate bit the apple, but they are hanicap beause the democrats run the house, the senate, and in the house, you're going -- lou: the gang of 8 -- i'll say is clearly for you -- > there's four democrats in it. lou: that legislations a farce. it's the game that i said should be avoided. >> okay. and now the house is going to look at it. i think goodlatte is looking at moving forward on a whole series of issues. we can and should hav a serious progrowth immigrati policy that's good for the country, good for the american people, and historically, it's the -- the reason why wre the future and china isn't and japan isn't and europe isn't -- lou: come on. we want china to have a future. we want russia to have afuture. we want india to have a future. we want everybody to prosper. >> we have a brighter future than we do because we do immigration well.

that's our hitory for 200 years. we need to do better than we have done recently. lou: goodlatte would appreciate your support for a ratiol national interestapproach. thanyou so much. >> lou, we agree here. lou: excellent, i love it. please, no more gang of 8 nonsense. that stuff's down. >> that was the senate, lou. it's in the house now. l: sorry? i uderstand. thank you for reminding me. grover norquist, good to have you with us. >> good to be with you lou. luol-- president obama harping on how many days are left in office with a countydown clock. in the "chalk talk," we offer him a way forward, if you will. ♪ the boys used double miles from their capital one venture card to fly home for the big family reunion. you must be garth's father? hello. mother. mother! traveling is easy with the venture card because you can fly any airline anytime.

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♪ lou: president obama in his most recent speeches s.c. pivoted to jobs in the economy is suddenly reminding people how much time he has left in office. i mean he sort of started a personal countdown clock. even next up the number of days.

it's that countdown clock, it gives us an idea because it is sort of an indication, i think, that he's getting tired of a job . i have a thought, maybe it will help the american people and the president's if he's conveying that interest in as it were moving on demand going forward. in corporate america is called the buyout package. we even put together a committee to raise some mon and to validate the whole concept and to make the deal with the president should be interesting to read all tell you more about that just a second. let's not beat around the bush. when people say it's not about the money, it's always about the money. mr. president, we think we have a fair buy out for you. you end mitt romney, republicans and democrats spent $2 billion to have a campaign last year in feeding the reelected.

actually, we probably have to throw in som extra money here. let's take that original 2 billion. there's some question about whether biden would feel right about following in your footsteps in the white house. we thought should that be the case he would offer him about $200 million. so there would be a $2 billion buyout. that's without question the initial bargaining position. but we think that's prett fair. it's rational based on the money thatas spent to get the job he ha. so were we going to t that money? that city. we could stop spending money to promote obamacare. that would save us about 700 million. because stop promoting food stamps for the next four years which would serve as another hundred and 60 million. we could save about 300 million over the course of the next three and a half years on

excursions which would include your vacations to hawaii, martha's vineyard, the sort of thing. we have about a $300 million repair. we wilhave to pay for your golf outings, one of your golf weekds that costs about a million dollars. you have played, as you know, 130 rounds of golf since becoming president. this may be a little high, but we're putting them as a savings of the least 100 million. much more than -- i mean, that's beginning to be pretty sizable chunk of the bill year for going forward. a littlehort, so we want to put in conxt of the reasons we're interested in that earlier out that will help perhaps rejuvenate your spirit and that of the economy in the nation. maybe smart job growth, return to prosperity. let's say that results pretty

quickly in ducking this is conservative. a 2% increase in the growth of our $16 trillion economy. that will be about $320 billion per yr, more than enough money to raise what we need for our discussions. we haven't even talked about cutting food stamps and disability as a result of a return to prosperity. the committee that i think would make a terrific group for this transition discussion and to wrap up all the details, i want the congress than they're used and a great job following upon your details and governance, one of the top-10 richest in congress. he knows aot about money. he would be good for you and for us. obama's former banking betty, the ceo of j.p. morgan, lou on the executive branch. you can't beat those connections to big money. nobody knows more about big

money than him. of course senator jn mccain, another comfort level. we have to throw in lense gramm because he goes wherever john mccain goes. he has become the new best friend forever and can convince you, perhaps, to look at the details of the buyout favorably. white house senior adviser, we think she ought to be there because she knows you. you have just a marriage counselor for longer than anyone else. we encourage you to think about it. all these folks there to help you, help yourself. i hope you think about the offer. i think it's a win-win, as they say. it sure sounds nice from wher i'm standing. let us know you think. motor city meltdown. detroit bankrupt. will the american people support the bailout for the charge? michigan congressman help so. michigan congressman help so. he's copd kes it hard to breathe...

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♪ lo tning to the lates devepmen the large nicil barupt in couny,epubcan senats todaintruci a amendme aid at prentg feral bailout o detro. onof t snss isenor ron jns antsoakerta droit esn'get single de taayer mey in thi statement,etroit's debt is natiol st chi of wt caresthen polaons enter int a uoly alan with powlnis at the esef lalcomy andheeoe livehe. wel my nex ge h cled on congress and the federal government to consider supporting cities to prevent future bankruptcies. joining us now, congressman of mich committee. good to have you with this. i would like to get an understanding of your reaction,

senator johnson's remarks which represents obviously a part of the republican party. >> first of all i think the conversation is a low more complicated and the way it was described by senator johnson. this is a situation where we have a city has experienced over not just the last decade, but over about 34 years, a continuous decline, population loss, the loss of economic base. frankly is fueled by bad policies like trade agreements that have allowed american jobs to be shipped overss. lots of bad decisions of local level. for sure we have to start with the acknowledgment that local government failed the people of detroit, no question about it. in the decisions that were unsustainable. lou: a decision for a bailout. the local politicians i just as much to blame as any other element of force to work.

>> local politicians are. the people who live in the charter not. i think we have to do at the state level, the federal level, and certain the local level, realize that the 700,000 peoplet but also citizens of michigan and this country. so at every level when nd to think about how we position detroit to be prosperous again and create a platform for its re-emergence. one of the things i did is still out work to rethink the way that the u.s. treasury apartment, the hardest hit funds. was intended to help communities deal wh the aftermath of the foreclosure crisis by helping people with mortgage write-downs in such. in detroit and other places in michigan that money, 100 million will be used to demonic to demolish abandoned structures. lou: i'm sorry to interrupt you,

bob weir limited on time. i just have tested this. this is their responsibility of the union's who negotiated nsion deals with local politicians. you know what that was all about political power. it hasn't worked. there is no way in the world that's going to bring back the million and a half people. >> i agree. you're right,. lou: and the is no way in the world that you can recover by bulldozing houses. you and i both know that. vacant land, but that will not attract more people who would make u a tax base for a city that is, perhaps, mortally wounded. >> no, but what you can do is have a plan that reconfigures the ty to be a more successful bring in smaller places. to be head you he to demolish those a abandoned structures.

lou: let me ask you this, presumably of the people you think they're smart enough to figure out how to do this have been living in detroit, washington, and around this country for some tim. why should we be any more confident about the geniuses in government providing a prescription for what is a city that has fallen on hard times for the past five decades. and then in an industry base that is basically -- not basically, it is fundamentally saved by the federal governmen money, the taxpayer money. and this is a peculiar thing to do. i. >> i think it's peculiar to think that that policy could be replaced with a policy. it's more thoughtful and focused on a more sustainable approach. just because there have been mistakes in the past. i know you know this. that doesn't mean government is confined to always make mistakes going forward.

we can have -- lou: what other noble -- recently you for that. >> to look toward a talking here again it. lou: congressman from the gre state of michigan. upext, big news for facebook stockholders. an otherwise sleepy summer market date. bank of new york mellon chief bank of new york mellon chief economist join the pursuit of a better tomorrow is something we all share. but who can help you find your own path? who can build you a plan, not just pie chart? who can help keep your investments on course, whatever lies ahead? that someone is a morgan stanley financial advisor. and we're ready to work for you. it's delicious. so now we've turned her toffee into a business.

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♪ u: joining us now, be in line mellon chief economist we have been transfer -- >> a long time. lou: three decades. your to see you. your thoughts on where this market is? >> i think the snb has risen about 150% since l of 666 march 9th 2009.

the gets appropriate. i think it's appropriate because the u.s. economy is in the middle of what is gng to prove to be about a seven year economic expansion. four years of 2 percent growth which we already have. i expect the next years will be three for three, 3 percent growth. lou: right now fed chairmanen bernanke, a sigh of relief we hear all the way from the borders. if 3 percent growth we can attain everybody will sign up for that. >> or not there yet. you probably have a flat gdp for the second quarter. some of provisions of the growth rate, but i think we will be there as we move into 2014, 15, 16. lou: what do you take this sector, the industry -- >> one of the interesting things is the industry, our domestic

industries. so housing is intrinsically a domestic industry. you don't import people acrs the ocean to do the carpentry work to build a new house. lou: put together some free flights for buyers. >> i understand. i was out in california. chinese buyers buying ten, $20 million homms potentially. the housing sector is going to be a little choppy for a few weeks and months because of the rise in mortgageeres. it's fundamentally an expansion. so is the aut secr, the average age is still old, and there is a pent-up demand for the next several years. these other two powerful domestic industries that are going to feed into this economic expansion helped by the easing monetary policy, along about time. this will stay for a long time.

lou: it' good to see you. thank you for being here. we appreciate the effort. keep our fingers crossed. up next, a new poll numbers show anthony wiener sfering from a case of erectile dysfunction. the "a-team" takes that been more. stay with us. [ male announcer ] the mercedes-benz summer event is here. now get the e unmistakable thrill... and thincredible rush... of the mercedes-benz you've always wanted. ♪ but you better get here fast... [ girl ] yay, daddy's here. here you go, honey. thank you. [ male announcer ] because a good thing like this... phew! won't last forever. mmm. [ male announcer ] see your authorized dealer for an incredible offer on the exhilarating c250 sport sedan. but hurry, offers end july 31st. bjorn earns unlimited rewas for his small business

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♪ lou: joining me now, pulitzer prize-winning journalist, senior editor of the american spectator thank you for being here. let's begin with eric holder and the voting rights act. is he doing an end run on the

supreme court? >> the federal governmenand the supreme court. the supreme courtn 2006 ruled that indiana voter i. law a says the shocking thing, it upheld the 6-3 decision written by john paul stevens, taxes smolletts law after indiana's. it is if so fact unconstitutional. what is trying to do is throw a nkey wrench. >> the boundars that were drawn by that gop dominated legislature was thrown out of theexas court, democrats in texas are disputing these boundaries. at think the justice department has every right to intervene on behalf of private groups. lou: that case goes back to 2011. it will be resolved.

the court has already told them3 to redraw. this -- one has nothing to do with the other. what they're doing here is intervening directly and trying to restore section five of the voting rights act for thetate of texas as if they have an imperial power, not a constitutional power. the tenth amendment is still relevant, is it not? >> texas has the right to conduct its elections the way that it does. one court said the lines were in regular. the federal court, the district of columbia which will ultimately you this case on appeal has basically said in the past that the texas redistricting plans are almost completely fine. >> let me turn quickly to syria and your good friends. he is on a mission apparently to engage this country and as a civil war in syria. >> i'm very disappointed.

i really don't think that american interveion, aggressive intervention at this one makes any sense. i don't understd what the mission would be, would be accomplished. doe really won either side in this terrible struggle to win? will we one is what secretary of state as called for which is the political solution, it was possible. >> don't think a political or military solution is possible, and i think nothing dramatic changes aside simply grinding their resistae down. that's terrible, but being involved in yet another mdle east a quagmire is not in our interest. lou: the "wall street journal" responded to president obama's economic speeches claiming he's the worst president in modern times despite climbing over and over again otherwise. what do we make of this so-called private? father is the sub. >> i was really surprised by

that speech because there wasn't a single new idea. and because their growth,he gatt between very rich and very poor in this country and best wheezing continues. he may not be responsible for it, but it does continue. he could have adjusted in a speech in didn't. lou: one of the sad ironies is when you raise taxes, increase regulation and create more uncertainty in the economy in pursuit of reducing inequality what you end up doing is failing in the first instance and then you also get the middle-class further behind than it was before. lou: i appreciate. good to see. >> good to see you. lou: that is it for us tonight. i want to see if we have a picture of george h. w. bush. if we can show the audience as we close year. this is one of tse pictures that moves you to tears. a 2-year old boy battling cancer

, former president joining patrick as a sign of solidarity in shaving officer. in shaving officer. the son of a member of bush this man is about to be the millionth customer. in shaving officer. the son of a member of bush would you mind if i go ahead of you? instead we had someone go ahead of him and win fiy thousand dollars. congratulations you are our one millionth customer. nobody likes to miss out. that's why ally treats all their customers the same. whether you're the first or the millith. if your bank doesn't think you're special anymore, you need an ally. ally bank. your money needs an ally.

charles: tonight fox business special, every day people think about low they can improve their lives, build for a better future, a betr retirement. most of them will never open a restaurant or become engineers overnight, even as we daydream of schemes to make it rich, too many people that the stock market is the wrong place to achieve such dreams, if you are one of the millions of americans who do not think it is in the stock market, you must watch this special. if you are one of those who were told is is complicated you must