everything. difference is good. that is the show. see you next week. lou: good evening, everybody. we have a lot to cover. a rough day for investors on wall street, 23 231-point sellof in the dow jones industrials in part because the chinese are mere acknowledged economic growth in his country is likely to be about three times greater than that of the united states. tonight' tensions rising in ukraine, german chancellor, president obama and european allies threatening vladimir putin given the russian president until monday to turn his troops to their base in crimea and except the government owere sanctions will be imposed.

the president unequivocally ruling signing executive order that allows labor secretary to determine new overtime pay rules that would force business big and small to comply. the president resorting with frequency to class warfare rhetoric imposing a limit. >> i am directing my secretary of labor to restore the commonsense principle behind overtime. if you go above and beyond to help your employer in your economy succeed, you should share a little bit in that success. lou: it has congress in an uproar one day after past the enforce the law act and the commerce been among those unamused by the president's conduct. >> we all swore and allegiance

to the same document the president swears allegiance to to faithfully execute the law. that is a lot of power. what are we to do the net amount of power is not enough? what are we to do when this president or any president decides to selectively enforce a portion of a law and ignore other portions? if a president does not faithfully execute the law, what are our remedies? do we wait another election? use the power of impeachment? those are not remedies. lou: and no less outrage, he says president obama has routinely failed to enforce laws he disagrees with for policy reasons in the constitution is clear. it must stop now. he is our special guest t here tonight. to search for missing malaysians airline flight taking more

surprising twists and turns today. flight 370 has produced more speculation and novel theories been any such incident in memory. the aircraft tonight remains missing. whereabouts in the circumstances responsible for its disappearance absolutely unknown. the investigation has now stretched into a seventh day, everyone involved seemingly utterly confused and compounded. families of the missing 239 passengers and crew growing increasingly and understandably frustrated with the malaysian government's conduct of the surge. u.s. authorities trying to help and the latest reports from the associated press says a digital data transmission from the aircraft engis before it lost contact could contain crucial information. fox news chief intelligence correspondent has the latest

developments in the investigation. >> face sources say they have nt discounted the possibility the jet flew for several hours after the transponder went dark and data transmitted by the aircraft is being evaluated in that light. as for the possibility the white house spokesman suggested it was under consideration. >> based on informion not necessarily conclusive but an additional search area may be open in the ocean and we are consulting about the appropriate assets to deploy. >> they were quick to dismiss reports. u.s. investigators were considering the jet was diverted with the intention of using it later for another purpose. >> they must be cooperated. today's media report going specifically about the data. as far as they are concerned,

those reports are inaccurate. >> authorities dismissed the fact the photos posted on wednesday show wreckage from the flight claiming their own surveillance aircraft were dispensed to the area. >> we deployed our assets, but found nothing. we have protected the chinese embassy th who notified us this afternoon the images were released a mistake and did not show any debris. >> the images remain intriguing according to investigators because they were identified on march 9, 1 day after the flight was lost in the most likely scenarios the chinese would continue to monitor the site. >> how in the world would they be attracting it continually? if they knew it three days ago was there, did they give up? >> former tsa officials say authorities will scrub the manifest for anybody with flight

training and comb through the cargo records. >> one of the things that has not yet been investigating is what cargo was aboard this aircraft. it is possible there was some illicit cargo for some nefarious reason. >> as the search nears the one-week mark, they are pessimistic. >> the longer it is down, the less likely we will find anything floating. >> fox news confirming through officials the u.s. is redirecting a destroyer to the indian ocean to search for the jetliner in the long the it will continue its search. senior intelligence official told fox news this scene is significant because it would not take a destroyer out of the mix and send it to the indian ocean unless you had good evidence the jetliner might be there. lou: thank you very much. as the mystery goes on.

turning to the president's executive overreach, our first guest is a cosponsor of the enforce the law act. saying we cannot allow the president or any president to ignore the constitutional limits of executive power. are we doing precisely that? joining us now, the chairman of the house judiciary committee. it is great to have you with us, and i would say to you first, you just past enforceable law act and the president and attorney general today in admonishing federal prosecutors not to prosecute offenders at least some of them sort of thumbing their noses at the congress here today, are they not? >> they are, they did it twice today. not only with the decision upcoming by the u.s. sentencing commission coming attorney general announced we think they're going to lower the

penalties for a number of drug offenses, so we're going to start implementing that before they change the law, but the sentencing commission makes this decision and then there is a time of several months when the congress has the opportunity to look at what the commission has done and say yes, we agree with that, or no, we disagree. clearly usurping the authority of the congress. did so on the issue of sequestration. the question of whether or not the sequestration, the 7% cuts across the board applies to obamacare subsidies. first they said it did, now they say it doesn't. that is going to be a $500 million diversion that will have to be taken from other areas of the budget to do with the present wants to do and he doesn't have the authority to do it under the law. describing is frankly anyou are

executive branch that is not involved in checks and balances. in any way, making a decision unilaterally as to what will be in a law passed by congress, not worrying about the code, not worrying about the intent, the text, straightforwardly deciding the president will arbitrate and decide what the law is. >> senator obama as you know i number of occasions criticized the bush administration for doing just that, saying if he were president, the three coequal branches of government, executive, was that of an judicial be treated that way and the separation of powers would be preserved but he had done far from that going beyond any former president in terms of taking areas of the law, whether

it be the environmental laws, the list goes on and on a various the president has simply taken the law into the own hands and decided to enforce or not enforce the law or rewrite the law as he has done repeatedly with obamacare. lou: the reality here is their seemingly no reality, and forcing your law act requiring support, the passage of the senate, that search is in question, and it would require the president to sign it, but more to the point his already threatened to veto it so what remedy is available to the house of representatives, and one would think the senate even though it is controlled by the democratic party that they would be no way to permit a presidency to reach this level of imperious miss. >> it is very disappointing the democrats in the senate and the

house won't stand up and protect the people's institution, the legislative branch of our government which is empowered to write the law. the president is required to faithfully execute the law. we have seen a glimmer of hope in our hearings when a liberal supporter of barack obama voted for him. the professor clearly pointed out this is a violation of separation of powers and in yesterday's vote and forced the law act five courageous democrats stepped up and voted to make it easier to sue the president and today on a faithfully executed laws act which is a disclosure bill requiring the attorne attorney l and other government officers tell the congress and are not going to enforce the law. 18 democrats stood up for that one. the public is starting to wake up, that is one of the ways we

can impose pressure. lou: are you saying the congress has no other resort here, no other remedy to win elections? >> we can cut off funding, we can hold hearings, the senate can hold appointments, which they have done sometimes, and we can take the president to court. we have done that successfully under current law in a few cases but in other cases we have found the courts have said we don't want to get involved in those disputes. they are constitutional disputes about who has the power. in a few cases we have done it, but w need more standing and that is with these are designed to do. lou: are we headed into a constitutional crisis? a lot of the american people are getting sick to their stomachs of what they are with missing here because this is a president

who has said out loud and clearly the purpose of his effective actions and orders are to avoid the congress of the united states. no other president to my knowledge has said that as the reason for taking those actions. >> he says he has a pen and a cell phone. what we say is we have united states constitution, and we want to make sure we're going to make sure the people constitution is protected. we will continue to pass legislation that moves in that direction. we will bring lawsuits when it is appropriate to do so and we will win some of those like we did with the appointments of the national labor relations board employees and winning the lawsuit requiring the attorney general to turn over documents regarding the mishandling's of fast and furious and possibly the cover-up of that as well. we will continue to bring those lawsuits as appropriate and have

the courts exercise their responsibilities deciding these cases when it is a clear dispute of who has the power under the constitution. if they do that, that will help as well. lou: good to have you with us. on wall street today, a sharp selloff. moving lower for the year to date. the dow down 230 points. the nasdaq 63 points. measuring the days losses at $275 million. crude oil up $0.21 above $98 per barrel. gold rose another $2. the yield on the 10-year falling to 2.66%. economic reports with jobless claims fall and 350,000.

315,000. plus we have the lowest levels since last november. up 3 tenths of a percent last month. charles schwab, liz and saunders joins us tonight to tell us what is behind the selloff in what investors can expect beginning tomorrow. we are coming right back, stay with us. lou: the russian invasion. before ukraine, there was the country of georgia. former president tells us how to stop vladimir putin. next. what does everything mean to you? with the quicksilver cash back card from capital one, it means unlimited 1.5% cash back on everything you purchase, every day. it doesn't mean, "everything.. as long as you buy it at theas station." it doesn't mean, "everything...

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lou: russia gathering its troop come artillery and other equipment and ukraine. a thousand russiantroo compad i.

german chancellor angela merkel warned today about the failed expansion tactics of the 19th and 20th centuries. she said "if russia continues its course of the last weeks, it would not only be a catastrophe for ukraine, it would massively damage russia both economically and politically." joining us now, president of georgia from 2004 through 2013, senior statesman at fletcher school of law and diplomacy. great to have you with us. you have at least i was going to say the benefit of the experience of watching putin move his troops and in your case move into the sovereign state of georgia.

your thoughts as you watch what he is doing in ukraine. >> the numbers are better for me. come into my country exactly with the same number of troops back in 2008, they bump over the same number of planes. that is what russia mobilizes at this moment accept ukraine is 10 times bigger country. for me if you remember my conversation with the president, told him look if you don't do something, is coming back in your watch. certainly no u.s. has to act more than ever. lou: putin was successful. it seems more limited ambitions then, was it not? >> let's see what the end game is. in georgia the end game was to

take over our p-uppercase-letter ed everybody knew it, putin declared it. some kind of unidentified source. the sheer size of ukraine is very different. could have taken the capital within 24 hours. by raising the stakes we saved our state and our capital. it is still under applicatio oc. the world acted together, and they basically proclaimed they were starting maturity operations. in the 19th century basically western powers dissented there. it was so much superior to russian fleet it sent a message, the same superior they know.

lou: people need to remember the black sea is essentially a russian pond the matter what others want to call it. strategically it would be a nightmare for the united states in my judgment to conceal. i wonder what the ukrainian government should do. only in existence for two months, two days i should say, when this all began. >> ukrainian government should be very careful but basically mobilize and pray for the worst. they have been doing that. i have been in constant touch with the leaders. this is a government that has to implement reforms. i am sure there is political will to do. nobody's advocating americans should put soldiers and boots on the ground. but remember one important thing with vladimir putin. he wants to live like a

rockstar. he is no north korean leader. he enjoys a nice lifestyle. i have not seen them in florida lately. they'rthey are doing this all te time. they should not underestimate the power. >> this pressure is really applied. different things said, now russia has done. now it's strikes again. to not be long if the world digest, that is one. he will strike again. the point here is that this guy

is out there. i have bank accounts, they travel all the time. putin's own daughters live in the netherlands. they like western lifestyle. they come to russia to make money. but then they take the money here. they don't even keep their money in russia. all the talk that we don't care. they do care when they are very vulnerable. if the west applies economic sanctions and business sanctions. it will be a nasty process and some western will suffer. if they don't want to pay a much bigger price later, they have to act now. lou: you understand a will this president, this administration. you understand the russian ambitions? what is the likely outcome to be concluded here?

>> i heard robert robert gates saying. putin was willing to apply for force. let's be more disciplined with the troops here. i remember 2008 after the discussions with president bush, but there was a big discussion in the administration. robert gates was one of the opponents. the problem was there was his instant he didn't think america was serious. after a week or so then cemetery of defense robert gates says we will not act militarily and to another part of georgia. it shows you what kind of force americans should be very america is still a very powerful country in the eyes of the russians. this feeling that this was just

illusion all the way through. he thinks more is at stake for america and all the west not act. there's a lot of levere you can use and it will take care of the situation. but we need to do it, some of the things we have repaired on the right way. at least now there is political consensus among lawmakers. lou: let's hope for the best possible outcome. good to have you with us. >> thank you. lou: the deadly explosion being blamed on a gas leak. the death was risen to seven. five residents unaccounted for. con edison at this a gas pipe was installed 127 years ago. we are coming right back.

lou: entire power grid is vulnerable to terrorism. the latest on that shocking new report. charles schwab chief strategist ♪ see what's new at projectluna.com

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lou: chief investment strategist from charles schwab joins us now. to dave was a and expected sell-off. what happened? >> at mundorf it was not unexpected it is natural to find a specific reason for everything but the biggest of ability started at the end of last year with such a strong movie and sentiment it shows investor is optimism got frothy that sets up folder ability bethought a chattel was part we did not have economic news so ukraine, russia, week news out of china is your excuse. lou: and then what awaits? >> we could have something

steeper them the january correction and that was 6 percent more on the s&p there was the unbelievably powerful historic midterm election year for the market to give back a decent shot 10 percent sunnier as much as 40 percent the average decline is 80% and it has happened every mid term election since 1962 but the good news is every single one of those pat had a huge rally after a dam that was 32%. there is a tendency to get a couple back but equal to have a big rally. but i don't think it is dead right now our canceled -- council is to have a plan. one of the things happening right now is that

correlations are coming down. relative to the indices' they are widening out with the environment favorable to individual investors to rebalance and diversification based on if they are overexposed or under exposed. the market 2008 through 2012 was not conducive but now it is. by no means try to tie in a correction because you have to make the decision twice to get out and get in at the right time and that is a fool's game. lou: liz ann sonders good to talk to you. listen to my financial reports three times a day coast-to-coast stay with us. we willard -- be right back. >> in u.s. congressman sworn in as democrats recover

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lou: talking politics with governor huckabee from arkansas in from fox news great to have you with us. let's talk about the special election in florida pretty impressive. the democrats were looking to take that? >> they really were. they had a good candidate with the statewide race almost beat rick scott for governor. she was of a great position and carried the district twice in obamacare read the district and twice the republican nominee background was a lobbyist with the tough primary so

she had 10 times the money with no primary everybody thought this is one dave would take as the democrats but she had less than 47% she ran on obamacare. lou: a play on words. >> i had to go for it to. lou: "the washington post" gives three pinocchio's to debbie wasserman shultz who said the republican party actually underperformed even the washington post said you cannot underperform if you win. >> there must be medication for debbie wasserman shultz. she is clearly delusional. for someone to spend that as a victory for the democrats

they took their whole focus we don't want to end obamacare but the people said no. we want to end its. obamacare was the deciding factor. no question and it scared the pants off of democrats favor hoping to run on this through november and they discover they better come up with the message because this one does not work. lou: speaker boehner was asked if they've relying too much on the debacle we're focused on jobs in the country don't underestimate the effect obamacare is having. he was pretty straightforward. >> be realistic. the jobs the economy directly affected by obamacare. people who had full-time jobs things to obamacare now have part-time jobs some

don't have a job at all and that big lie that was told of $25 less, and families are getting sticker shock. but it was to ensure all the uninsured under 4.2 million 75% had insurance before but they were dropped because of obamacare. all love these people of -- 75 percent are actually only previously uninsured so from every standpoint it is a failure and especially around the necks of democrats. lou: more to come. we appreciate you being here. be sure to tune into

huckabee on fox news. obama this sets ultimatums for a man who does not like them and not taking them very seriously our psychotherapist joins us next year you see it what they are t if you've got copd like me... ...hey breathing's hard. know the feeling? copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours. spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens,

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lou: president obama is threats by vladimir putin as he enforces the laws at home forcing international law. to tell us what this president is thinking we have robbie led wake. today he was found to be a weaker leader what the make

of this? >> not somebody that putin is afraid of them there is no connection between obama and tim if you can imagine the conversation idled think putin has any respect for obama and certainly not the united states. lou: he almost seemed to be obsequious to save the bill be more flexible after 2012 as if he wanted to give more than anybody could imagine. >> and obamacare seems to have a passive way what

message does this send to the world? what does that mean? who are we? we use to be a country that was respected almost the policeman of the world. lou: perhaps we will not be the policeman to look into the reflection of the eyes of others to find strength and power to be a little more self-contained to be more resolute and. >> are vico's to recap? it almost feels like that.

also obama is well meaning took no international law class. lou: at wes constitutional law. >> but his interest is in obamacare and a very socialistic concept that is money put sid is a tension what is his connection to congress? there is a characteristic issue. lou: talking about being passive also about the obama is in this country. he says, but hated --

complicated to see what he can get away with that putin seems to be what he wants. >> he wants power he does not care about human rights or democracy. people who are focused tended to move in the direction of their goal. lou: guest. >> and prejudice and anti- homosexual and racist. lou: why do you save racist? >> if somebody is so anti- anybody. lou: he has enough on his sheet. >> it is not the only reason but to i don't think it is the main reason why he does not connect with the obama.

lou: he goes around with rifles reinforces to be a tough guy. >> he is very impressed with himself but putin says he is tough and ready to kick your but. and he likes the idea is. but he is skinny and tough in what way? he doesn't it give people the feeling he is leading. on the right or left that is what people are saying they don't feel like they have a leader they can rely on. lou: maybe the ultimatum will be put into effect will be put into effect be[ doctor ] and in a inical trial versus litor,

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lou: the president's executive order on overtime pay with federal prosecutors not to prosecute some drug offenders against the government that many others are rebeling. congressman dowdy slammed the president for unilateral ignoring laws passed by congress in a fiery speech on the house floor spinet the house of representatives does not suggest -- exist to pass suggestions or ideas. we make laws.

while you are free to stand a and clap with any president through this hallowed chamber promises to do it with or without you i will never stand and clap. lou: is there a limit to the obama imperious see -- but where are the lools proschh constituti hoover thout least guardians of the law and the constitution? george washington and it university law professor thwarting we are at a constitutional tipping point he is becoming the very danger with any one of the up branches.

nicholas says the president's actions seem to be like regrading kellogg rather than taking care is faithfully executed. professor of law at the international university says i believe that to sue the president to reinforce his duty of execution. the bill passed the house. it is the sincere if it will reject it or pass it the white house has already threatened to veto the legislation. with obamacare has limits to his power he cannot permit

himself to wait to see if the senate passes the legislation and that should be all that is required to make any one of us understand the power that he seeks and would wield and that kind of power is not envisioned by our constitution and must be constrained. most republicans and democrats understand and agree the of limited not imperial presidency is essentials to the constitutional notion of equal branches of government. the man who once taught constitutional law is now the greatest threat to our system of checks and balances. time for a few of your thoughts :

lou: we love to share your thoughts. e-mail us that lou@loudobbs.com follow us on twitter or go to the facebook page for lou dobbs .com e-mail me. you will receive a free copy of my new book "upheaval" your comment is read right here on the show.

coming up tomorrow be will be joined by major-general assessing the crisis in the ukraine. i what does everything mean to you? with the quicksilver cash back card from capital one, it means unlimited 1.5% cash back on everything you purchase, every day. it doesn't mean, "everything.. as long as you buy it at theas station." it doesn't mean, "everything... unl you hit your cash back limit." it means earn 1.5% cash back on every purchase, every place, every occasion, all over creation. that's what everything should mean. so consider... what's in your wallet?

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nice office. how you doing? good. automatic discnts the moment you sign up. ♪ >> oh, sure, his health care thing is a mess but things to be even messier if we didn't have it. that is lemonade out of lemons on the health care law. it isn't pretty, but it is certainly prettier than the alternative. how would we know? welcome, everybody, i am neil cavuto. if you cannot inform them, scare them. that is washington's consistent way of dealing with them, with us. make us grateful things are not even worse. take this exchange with kathleen sebelius over rising premiums.