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tv   Cavuto  FOX Business  December 11, 2013 8:00pm-9:01pm EST

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♪ ♪ ♪ ♪ neil: look at what we have started. we took a stand and watch the blood flow at what is a death match with a the very soul of the republican party. very few people have worked this out. and i don't know what it is. he cut his people and he connects. this guy can get it done. and what washington needs now is a strong leader. >> chris christie is a promising figure. i don't agree with him on a lot of things. i'm more conservative than he
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is. neil: not everyone is in love with the governor. get ready for the rumble on the right. up close and personal we have it tonight. welcome, everyone, democrats have their differences, they certainly do..@ and that is an understatement. but let's just say that many more are focused on republicans and that is an even bigger understatement. but if there is one thing that comes into focus sharply, it is the battle between those supporting new jersey governor chris christie and pretty much anyone else this week. mainstreamers say that that is their saints. either way, it is amounting to a holy war that may not be settled
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by the time the 2016 election comes around. but given all the party challenges already lining up against republican incumbents, i'm not sure that it will be resolved anytime soon and we sure plan to get to the bottom of this. two towering figures on the republican party. scott brown, former republican congressman allen west. we are getting to the real wound under this republican scale. so you decide. gentlemen, welcome. scott, the tea party takes credit for you. many feel slighted and forgotten. >> first of all, the tea party certainly played a role in my election that started about many other people. and there is a role for a the tea party and every other member of the party. for not going to be a big idea
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party in which we take those ideas and bring them to the american people and tell them that we can do it better than the group that is in there right now, we are never going to win. we need to unite and come together and grab a pizza and beer and work it out and let the american people know why they should vote for us and come forth. >> they say very nicely the way to do it is not the balm of a chris christie. >> he won by 22 points and he created 150,000 jobs and yes balance the budget. >> he barely did so. >> so i would argue that new jersey is a little bit closer. >> okay, i think the most important thing is not to be
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focused on the person but the principles in the idf. neil: he is saying, that i can win in blue states i have a track record that aren't typical republicans. i'm your guy and a rare victory. >> right now that might be the right thing. but let's talk about the other critical issues. when we look at the policy. the most important point. and we don't know yet. being the governor of new jersey , it's good he can do things to get successful. but you're talking about taking it to another level. when you're the president of the united states and the leader of the free world. it is not that easy. >> you're trying trying to do it in that same way. [laughter] >> but seriously, the thing we
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have to look at is what is this stance on foreign policy and national security and this country is going to be in a terrible situation after three years of barack obama. and the problems we see with china. so it is good things and you have to take it to another level. neil: the argument for chris christie in fact, i can win us. we have to win this. we have to win over these constituencies. but the argument is that this is the guy which we hit our wagon, even if that means the democratic bargain. so is that going too far? >> just come and have a more years of what they have already, which is them completing his dysfunctional situation. we want something he is no different than barack obama.
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>> i will praise president reagan and say we need to come together as a party and take over and show the american people that we can get our budgets balanced and we can deal with foreign policy and with all due respect to the congressman, every person is considering and they need to be fully vetted. but i no chris christie and i know that he is a decent and honest and hard-working man who has taken the challenge is in a blue state and have had two victories. neil: does that mean you donout? >> i don'' know rand paul and they serve a good role in any to be included as well. >> what about shaking things up in a china shop? >> i do that before they got there and we will continue to do so. there is room for everybody.
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different strokes for different folks and whether that carries forth, we want someone who can shake it up. and that is up to the people to decide the one who represents the real bump of the party? >> i'm not sure that were positive about this, one single individual to represent this. >> i run every morning about five or 6 miles. one do you really? and who is going to speak to that? because you don't see the same chris christie. >> i think that's important thing. we have to look for someone that has executive leadership experience. there are many different governors out there come but this is a starting point.
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and i'm on the offense and i'm coming right at you. but i think that someone who can articulate this, one thing is he talked about the number-one number one issue for the black community and eyes choice. if we had more people on our side, rand paul timeout economic solutions and that is not just about outreach but inclusiveness neil: thank you both. thank you very much. in the meantime, lady gaga. they are all mad over the health care law. but not all of the big stars are in on it. some say it's time to knock it off. pulser me know if you're.
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he
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♪ ♪ ♪ neil: lady gaga is applauding the health care law, even after all of the problems and she is one of the dozens of celebrities like katy perry and so many more support this health care law even with all the problems.
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but some say this isn't really dead. but there are problems here. my next guest says it is not what it is meant to be. a great actor joins me right now. so you prefer that? >> this is in person. because you say something wrong, i can actually reach you. [laughter] neil: okay come you make a good point. [laughter] neil: what you make of that? supported this and you like liked it from the beginning. what changed? >> became clear to me that this is an insurance boondoggle and there should be no insurance involved here. it should be by the government and they should be expanding medicare and saying that everyone has medicare and you get sick and you go to the doctor and they pay and if they can't pay at all, you're
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indigent and the government pays the rest and that's the way it should be. neil: i don't want to get into single payor. >> and i don't want to pursue this. >> applies or not you. but probably because i would do you no harm. you know why they say this? because they are ignorance red. [laughter] but this was not thought out well. the idea of forcing people to buy insurance and lose their insurance. this is so upsetting to me. i like mr. obama. i think it's time to do the best, but i think he has been ill advised. and i think it should have been much clearer and cleaner. neil: did you notice when it was going to be rolled out? you think that he knew that? >> i don't know if he thought it out or if he was under great
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pressure. >> i don't think he did. i don't think he appreciated the. and i think he just figured it would all work out. >> i agree with that. you can't just repeal it. you have to hone in on what it should be. >> i don't know. but i do know that the average worker goes home and he is a sick kid and he goes to the doctor and he has nothing and he spends the rest of your paying off the bills and that is not right and we shouldn't be in that position. and he shouldn't have to go through mountains of paperwork is to be ensured. and i think we should pay more and that's what i think. i also believe in the flat tax. neil: you know, what is a big star like you worrying about
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this? you could've said that, you know, we stand by this and the principle is a great thing and please quit whining about it. >> i'm not part of a particular group. i am not a republican or democrat. i don't even know if i'm an independent. he wanted you over the president? >> yes. neil: did you vote for his reelection? >> yes, but that has nothing to do with everything he saw or did not say. i tried though it's common sense and that changes. luckily i'm not part of any agenda because i'm not part of any group or any network, so i can speak my mind clearly. i can change my mind and say that i thought this was good and it's not. neil: that's a good point of view. do you think that point that the administration -- but they say
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that this is not what we thought would be in will start over? >> yes, but starting over. and i would put a group to work on that now for several months to try to figure out how to amend this and make it simpler and simplify it and make it easier. but we can't put the genie back in the bottle. >> okay, so you were running things at the white house and all of the embarrassments, would you take names and numbers in the firing people? >> it is not my nature. neil: we are kind enough to we do. >> leave your. >> i take responsibility is what i do. if i'm behind it, i say yes, and i'm going to try to fix it. and i will take the credit. but i will always shift the
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blame. [laughter] >> i don't do that. neil: so if you are president obama, what would you be doing? >> i would having a big meeting and saying give me work to try something. my heart is there and this turned out to be a big mistake and i think it has a lot to do with satisfying things to get it voted on and they have enough money. it should not be a private do you have to buy from others. it's too much. >> you make a lot of good points. >> i won't run for office because i can't speak out without agendas and i have to satisfy this and i can be a guest, but i can't do your show because the show -- all shows are run by people who have opinions -- not you.
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but if you go too far, you are out and i couldn't live that way. i have to do it as i feel it and see it. neil: keep out of it. paul, thank you so much. and i'm very have even had me. [laughter] >> thank you very much. lou: neil: a new budget deal. $28 million. over 10 years. my mantra? family first.
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neil: a fox business alert. i decided to lose 20 pounds. not a word out of any of you.
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but that is the goal. michael is not this month or year, but over the next 10 years and i know what you are thinking. you are way too smart have to consider doing this. okay, i am. but the budget deal just announced is cutting $20 billion from a 17 trillion-dollar national debt, not today, but over the next 10 years. so looking at this, what you have to say? >> i think a bigger guy is good. neil: the term is caloric challenge. [laughter] >> i mean, what if you ever spend anything out over a decade? >> is wrong and i have to tell
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you that paul ryan is very disappointing. neil: i think that he is looking for the greater good. let's do this we can focus on bigger things. the one i think you make a good point. and i think that you look great and let's get back to the budget, which is a terrible budget. we just got burned last time badly. neil: what you think? >> democrats didn't come out with everything they wanted or much of what they wanted. and no one really dead. but it did do one thing. and right now maybe that's not not such a terrible thing. the fact that they could agree
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on something, maybe, just maybe it is a step forward and we agree on this all the time be one there is a time frame here. and we are crunching the budget numbers. 20 billion-dollar cut over 10 years is a 100-pound person losing 1.6 pounds, it's like the loss of a thousand dollar debt, giving you part of a hickory farms summer sausage situation. >> now we are talking. neil: is a big zero. >> did you just call me a big zero?
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>> no. [laughter] neil: so this does make you think that if you can't even commit to something over many years, we can always do it. >> correct, but politically, it is not terrible because we are still talking about how terrible obamacare it. >> this is all about getting this out of the way so the republicans can go back. neil: but you want to do? push the republicans and shutting down the government? >> yes, we do. we want them to get it out, what they really lack with a long-term unemployment insurance and there are no tax increases, but they didn't get any situations out of here.
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>> deservedly so. neil: your destination is getting stuff done and having more rules and regulations. >> they don't regulate anything. and my point is this. by the basic needs in which we judge this, this one has spent the least on a percentage of gdp and exacted is out of a democratic president. now, we still have the deficits and but it is ballooning. >> i think it is just a huge fail. >> let's not forget how they did it. we make a point. and it's how they did it and i will blame the democrats just as
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much. they should have been able to get to these cuts if these cuts were necessary without the sequester and i was possibly the worst moment that i've seen in congress. >> that they get the cut. it's not a cut they want, but it is a cut. if the dante's inferno and it's not good. [laughter] >> we will be going back there, that's for sure. guys, thank you so much. it's been one meanwhile, get ready. watching them is mowing down union benefits. we will have that next. hi honey, did you get e toaster cozy?
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neil: let's just say that detroit is the opening act and that this and grabbed encrypts the thing is reverberating far and wide. in talking about the federal government itself. it is true. deep inside this agreement is something really funky and it's a long-term commitment to rein in the pension benefits and other obligations. especially union workers. university of rochester professor says what is happening in the motor city is not just a thing in the motor city. it is interesting whether it will be the blueprint or beyond detroit, they are experimenting with this more than if the judge had ruled this. what is going on?
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>> i think that this is obviously important for detroit. but the real impact will be felt by tens of millions of workers nationwide and it's the beginning of the end of the current regime that we have had with public workers that have better pension plans and the rest of us. and so what i think that this really does is force is workers in chicago and san francisco to confront the fact is that they become predators of the state just like everyone us. so these older workers are going to say that we have these generous promises, but we should be secured creditors. in the only way for them to become is for them to convince state and local governments is set the money aside and set way morningside and our wacky government accounting says is necessary and something that everyone else thinks is a joke.
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neil: a lot of liabilities are stretching your point. and does the trick going to be convincing them that these are fair and balanced streamlining going forward? and that others are because i suspect that there will be a lot of howling? >> i think this has the potential to set up a war within the democratic party. the only way to fund these things as enormously expensive and requires big increases in taxes and significant cuts in government services and i think that has to potential to have a part of this this includes more
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mainstream moderate democrats who expect to get high levels of government services for that taxes that they pay. >> they put a lot of this into the campaigns. ultimately what they are doing is a slap in the face and where do they go. >> they are an incredibly powerful force. it's big, employing one of six workers in the country and even if you're not working for the public sector, most people have a sister or an aunt who works for them and they are a powerful voting bloc and they expect their policies and their politicians look out for their interests. i think that this has a real potential to set up an interesting and acrimonious dynamics. neil: thank you and we will watch you closely. >> thank you.
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neil: it is like the battle of the ebenezer scrooge family. who is believed scrooge? banks are going after them for not lending enough. they are going after politicians are pushing regulations that way more than enough, making it impossible to land. enough is enough. we have our next guest who isn't just any banker. this guy plays polo with prince harry. it's very good to have you. >> thank you. >> how did that happen? >> we raised over a million
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dollars for unfortunate kids next to south africa, those that don't have this and brought a million dollars. >> we were both part of this same team. smart and aggressive, and objective and a great guy. >> but they don't think that you are a part of that. rules and regulations, all of this stuff is making it difficult for you guys to do anything? >> yes, it's a socialist type of mentality, if you will. and this is founded on capitalism to create jobs and
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wealth and the banks were found it that way as well. but it needs to be balanced. you can't have regulators come in until you run your business everyday. and it's making it harder. neil: but there's a lot more than that. >> when you look at things coming have to think about the small community banks are a major big money center banks are looking at things were nationally, if you will. it creates more compliance that requires more people and work. a distraction from the day-to-day business and this includes protecting the consumer. but i think that what is happening is that the small banks are not able and willing
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to lend like they were before. including regulatory enforcement and compliance requirements getting into products and services and it's a very costly thing. neil: is it worth it when you can borrow on the cheap? >> there is also an extra cost of compliance to maintain that. and i think that there should be a body of regulation that exists. they should focus on things that create this and prevent it from happening again and you have to lay off on the smaller banks and allow them to grow their businesses. with the height and regulation, they can't do it anymore a smaller banks. banks below a billion dollar won't be able to survive on their own and that will drive
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them. >> c-130s think it's going? >> i think less than 5000 within two years from now on the reason for that is that you cannot survive at that level. and so you consolidate. and as you get bigger, your subject more regulations and that goes up until you get up to about $50 billion and all the regulations are part of this under dodd-frank. neil: michael, thank you so much. we appreciate it. in the meantime, let me be brief. you better be careful, because you might not only lose the ring, you could get rained for 50 grand ♪ ♪ ♪
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neil: hell hath no fury like a bride scorned. a georgia court ruling. if beyond the maintain his bride-to-be 50 grand for the heave ho. how did she pull this off? and preparing for the wedding, she blew her job off. and actually, what do you think? >> i think it's great. i read the opinion and i thought that the court is really mad at this guy and they said that he committed fraud because he was cheating on her. before he proposed and while
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they were engaged and after and they said, you know what? you never intended to marry this woman. neil: many potential grooms do. so why did this guy get sued? >> well, he got sued in this case because -- it is because she actually relied on the sky. she relied on this and became a student at whole lawn. and so she relied on this promise of marriage. and it's not any different than if they were married and going for a divorce. then she would be able to get alimony in a portion of the house and just because they never actually follow through and got married, she wouldn't be a entitled any of that. >> he is responsible for child support and they worked part of that through. so do you think?
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>> well, i think that i've only had one cup of coffee today. so remind me what country we are living in. i don't think anyone has learned about this for like 100 years and i don't think it's been in force for 100 years. and i think that the court's ruling is misguided, especially in this day and age. if that's the wrong precedent. neil: but to ashley's point, it's not just a potential grooms was cheating on his wife to be, but that he never had any set mine in marrying her in the first place and so he went beyond just duping her. would he make of that? >> you even mention that that is unfortunately what happened someone is going to be next is are we going to allow people to sue for breach of failing to wash the dishes and the relationship and it's just that
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such a slippery slope exists and maybe you don't like this. but there are quite a few men in the world that break promises to women. >> okay, what i think this comes down to this man had the wrong defense. he claimed it was because it was part of this relationship and in georgia law, that means that he called her a prostitute. and he claimed the relationship is like this, she was a prostitute. neil: one is -- what is the term? >> it is called meretricious. neil: okay, so where is this
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going on? you are saying this is ridiculous. >> i think it's that the president. because i think i should fly to georgia and try to sue my expert promising the world and not delivering. it's totally ridiculous. and i'm saying that there needs to be personal responsibility. no one put a gun to her head and said you have to live with this man without being married or you have to have a child with them out of wedlock or stay with him. she needs to take some personal responsibility here. then again i think the floodgates of litigation are just going to be open wide. neil: ladies, i want to thank you both and i thank you. so all right, black friday part
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neil: well, forget black friday. wal-mart is offering big discounts. on the dangers of conditioning shoppers and waiting for a deal, the bigger the better. jonathan homemade, what do you think? >> welcome i think that they have been conditioned over the years and i think that the beneficiaries have a mega chains with all the buying power like wal-mart and they know that the pie is not getting any bigger and when it's not getting any bigger, your only resource is to grab a larger share of the pie and that is one thing that wal-mart continues to pound the market with. with these great deals. and i think it's good for them, bad for the wal-mart competitors neil: who is winning in this
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environment? i'm not sure that that moves the needle? sumac everyone is winning. everyone wins in the free market. the employees when coming to investors when, wal-mart is not too far from a 52 week high and the shoppers win. neil: but if they raise the margins, it is so going still going to be because of this, isn't it? >> they are selling an iphone for $20 and i'm pretty sure they can handle that after a couple of hours. they are doing great by not only investors but i shoppers as well. neil: my fear about this, if we can show the video. people go crazy and i was trampled on by a 90-year-old grandmother. and the little unseemly.
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>> here is my thinking on. i think that wal-mart knows down to the step in the penny exactly what they are doing. and wal-mart was one of the biggest, if not the biggest buyer of computers and computer analysis and hardware. i think people start to identify them as that people are trying to get stuff to buy and it ends up being good for wal-mart. >> as much as you want to suggest this, wal-mart is not known for trampling. see one in the meantime,
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jpmorgan eight is developing a digital payment system and for those that don't no, they are points that you can send through the internet and many are calling it the future. so gary, should investors be betting on this? >> no, i don't think so. i don't know if the bit coin is real or false. when i see anything like this up in a year, i think i don't know why jpmorgan is getting at. i would avoid all of them at this point. >> would you what do you make of it? >> well, printing money is this an all banks printed their own currency and the economy was more stable and productive with
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the federal reserve and the market has become more erratic and of course we know it is the value of dollars that is over this. and i mean, i am not a big buyer and i applaud jpmorgan and others who pioneered this. neil: i know you gentlemen don't go to chucky cheese. but i digress. so when you watch a mile? >> i am watching the market. i haven't been happy with the market the last few days and i'm hoping for not a lump of coal in my stocking. >> i'm concerned about stocks, but another market, the dry index. it tracks the sit shipping costs
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and it's actually breaking out. it tracks it and i hope that kerry is wrong with the market continues higher. >> it monitors shipping costs throughout the world. exactly. and as those costs go up, it's basically gravy to the shipper's bottom-line. neil: a lot of folks are saying that we are weeks away from the fed starting to tear down on the treasury note and the like and is that a worry for you guys? >> it is not. i think it's part of the market and i think we have moved on to other things. >> some of the weakest facts these days are these interest
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rate sensitive ones like the master limited partnerships and preferred stocks and bond funds as well. and i think now is a good time to call their bluff. positive spin on the lackluster moments but people are not falling for it. be there are we. we are "the independents". kennedy: welcome to the greatest hour of your day or at least a night is bite from the constant love fest my name is kennedy i am joined by a match welch editor of reason magazine and kmele foster from

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