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tv   Lou Dobbs Tonight  FOX Business  April 10, 2014 10:00pm-11:01pm EDT

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tonight, we'll see you next week. tomorrow. >> good evening i issue ashley webster in for lou dobbs, chief white house correspondent ed henry wanting that health and human services kathleen sebelius is resigning, news just days after the close of open enrollment for obamacare, a rocky roll out of the health care law. major web site flaws, reports of over 6 million cancellations of people who had health care policies previous look major questions regarding validity of en officer rollment numbers -- enrollment numbers and omd director will be her replacement. president has accepted seb'sed '
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resignation, we'll have more throughout the hour. >> to wall street, a triple digit sell-off two of three major indices in tech sector leading the way down, dow jones down 267 on the day, fourth time this year that brad index dropped over 200 pointss in a day, in all of 2013, do you fell more than 200 points in a day. just 7 times all but two of do youy 30 components -- dow's 30 components finishing in the red. s&p down 39 points, losses loadly healthcare and technology stocks, tech, nazdaq taking a beating down 130, dropping over 3% on the day, largest one-day
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point and percentage decline in cleanearly 3 years, led by steep drop in biotech and internet stocks big names facebook and netflix and pandora down 11%, wilshire 45,000, paper losses when a half fill trillion, a rough day on wall street. dis paoeuts a presiden -- despis number. we're joined by mike ryan in a moment to see what this market is responding to and whether or not a market correction is on the horizon. >> on capitol hill, house oversight committee voting to hold lois lerner in contempt of congress for refusing to testify had her role in irs targeting scandal. republicans voting yes,
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democrats voting no, darrell issa said that vote is not something he took lightly but lerner left him no choice. >> we know from her attorney she sat down for a lengthy no strings attached interview with eric holder's justice department. she was not granted immunity, think about, that miss lerner who once held a position of great pow skper responsibility, at -- power and responsibility at irs is willing to talk with the justice department, the executive branch but remains unwilling to answer questions from elected represen representf the american treatment. >> that -- people. >> that now goes to full house where speaker john boehner predicts it will pass. >> now sebelius testifying that 7.5 million americans signed up for obamacare, including 400,000
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customers who have enrolled since federal deadline of march but a survey shows that the signature law could drive voters away from the democrats in upcoming midterm, more than 8 in 10 voters say they candidates decision on obamacare will be a factor in slid in decideing howy vote. joining us now mike huckabee. before we get to obamacare, latest breaking news on sebelius, your thoughts? is it on books or surpriseed? >> a little surpriseed at the timing, it might have been more exec fiftexecutive -- effectivee president had it been a year ago. i knew sebelius since her days as governor of kansas, she was in -- insurance commission, she had to have known better, she
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knew it was flawed. she went to capitol hill and gave information that turned out to be anything but the truth, i have to believe she was troded out by administration to do the duty, and to walks plank now, announcement comes late in afternoon that is when you make announcements like this, when they are bad news and you really hope nobody is paying attention, it is another i think mark in this whole horrible just comedy of errors that obamacare has been, and taughting numbers 7.5 5 5 million, 6 million lost, net people 1.5 million. neil: sylvia matthews -- director of omb will takeover, what does she inherit? >> she gets a mess.
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a tough job, the fact is that democrats are in trouble, this is one more way they are strapl bells to protect themselves in this november's election, nothing seems to be working because americans are getting hit in the gut, in their wallet, they know that obamacare is costing them more, making them cough up money they didn't want to spend, not keeping their doctors, not keeping their insurance because white house did not keep its promised. ashley: you touched on that, we have midterms coming up, how big a factor is obamacare for democrats into the elections? >> i say it is huge. fact they continually try to look for something else, so they can distraction people from obamacare whether this ridiculous charge of equal pay
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for equal jobs when the white house is not paying its own women equal to what they may pen, senate pays 79 cent osdol ar to what thess on thedollar, , they know they are, every poll that shows american people don't like obamacare, in states where a particularly incum incumbent r itor -- senator is up in a tough elect this may send him home. ashley: eric holder accusing republicans of ugly attacks on him, and the obama administration that strikes me as someone who has been criticized about their job, and trying to wreug else out oing t. >> he is trying it play he is really put upon because of his race, it has nothing to do with his race, it has to do with his
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incomptancey, he said he would get to bottom of "fast and furious," he is not, bottom of irs ca scandal, we have not, hes the attorney general of the united states celebrate the fact he is made it to that points. but that does not excuse him from doing the job he is po supposeed to do which is enforcing law, not based on his own personal bias on political benefit to his boss the president but based on the law and constitution, he has failed, people are upset with him for that reasons, it has nothing to do with his race. ashley: and lois lerner, irs scandal. representative cummings, suggestions that issa has become a advocate for something to do done to irs because of that alleged targets of conservative
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groups. >> with all due respect, he knows better, this is about one of mostin insular government agents using its power to puts it foot on mornings because of what they believe -- foot on americans because of what they say, and stand for, that is most un-american. lois lerner, who took of fifth, she has every right to do that. but i woulding is iing suggestis constitutional duty of this congress to pursue these changes, if we can't trust the irs, we need to eliminate it, something i have wanted for a long time, it is out of control, and a criminal enterprise, rather than government instution
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that we have trust in. ashley: we're out of time, governor huckabee thank you so much for joining us. >> thank you ashley. ashley: and tune in knock fox ns channel, saturday, and sunday night 8 p.m. >> a sell-off on wall street, dow and s&p suffering worst losses since february, nazdaq with biggest decline since 2011, crude oil down 20 cents, gold up 15 bucks. the yield on 10 year falling to 2.3%. shares of allie financial, falling more than 4%. in the trading debut, mike ryan of ubs, and market wild spring. stay with us. we'll be right back. forget the ukraine, defense secretary hagel in china.
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the markets so skittish what happened? >> a couple things set in motion, there has been a concern about valuation in some of the momentum stocks they led the market higher then once selling started. i think you saw a lot of technical things with hedge funds that pulled risk back. they look on offset longs and shorts. i think that exacerbateed it. but we're not seeing this is something pro tracked and pronounced. we're not seeing a widening of credit spreads, i think this is more -- rather than fundamental. ashley: we got news that china weak, that did cause a set off there and in europe. should we worry about china? >> i think china will be a concern for a while but not acute concern. they will work through growing
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pains to transition from export infrastructure-led model to one more balanceed. there will be periods in that process where we'll see volatility in the ik kim data and mark -- economic data and market reaction, we should focus on what do we think that the economic momentum is in u.s. we had good news. ashley: is was brush -- it was brushed off by traders in the market though. >> we're focus on near-term trading, i think overtime we're going to focus back on fundamental, one thing that will be an issue is upcoming earning season. ashley: what are you expecting? >> it is going to be a harder read. wowe had such weather-related impact. we think it will be flat year-over-year, real issue though, is what are we hearing in terms of guidance, think about it all of the survey based
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indicator, assume that economy are trending higher. a lot of consumer confidence index trending higher. i expect better guidance than particulars are right 4 -- expectations are right now. ashley: the fed? they ar are raining in -- reinig in stimulus. i think there will be bumped on road here as well, we've become accustomed to very low-cost financing. i don't want to exaggerate the fact that markets will be able to observe this fed taperinging, let's not confuse tapering with tightening, they are rolling back their accommodative policy in a very pragmatic matter, they are slowing the rate of
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purchases, i liken it to, i taught my daughters to ride a bike, i raised their training wheels a quarter inch at a time as they gained confidence. ashley: and from here, volatility this high? >> not this high, we'll see more chopping around i think we look over next 6 months, i see a stronger earning outlook, i still see an overly all economy adopt dateive -- accommodative monetary policy stance. and so i see. >> no big correction? >> no, i see s&p 500, over the course of next 6 months in 1950 level. ashley: very good, crazy day mikmike ryan thank you,s ubs chf investment strategist. we appreciate it. >> looking at last night a poll results, we asked do you think that administration will stand as a beacon of integrity for
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all-time? 96% sa% said no, 40% said yes % said yes, tonight, the question, lois lerner? general motors announcing it suspended two engineers as part of its internal investigation into failures to recall. we'll be right back. >> president obama said he is a product of lbj's legacy, the a-team, katie, juan and judeo civil rights act that votingage and what president obama could learn from linden baynes johnson this is the quicksilver cash back card from capital one. it's not the "limit your hard earned cash back" card . it's not the "confused by rotating categories" card. it's the no-category-gaming, no-look-passing, clear-the-lane-i'm- going-up-strong,
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everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. ashley: welcome back defense secretary chuck hagel wrapping up a contentious 10 day tour of asia. hagel assessed risks this way, as people's liberation army modernizes its capabilities and
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expands its present in asia and beyond, american and chinese forces will be brought into closer proximity, which increases risk of a incident, accident or a miscalculation. joining us how to talk about miscalculations retired colonel hunt. and seth senior fellow at hudson institute. and author of new book, i may d, the decline of american naval supremacy, colonel, can you irk exchange, mr. hague nel china, a -- hagel in china, got a tour of aircraft carrier, that was seen as china becoming more transparent. but bottom line is china will do what it wants to do, whatever we say, i don't know it has a big impact. they will do what they want,
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right? >> yep. i'm over my head when we talk economics but we do need each other economically, militarily, we have the greatest navy in the world, chinese just have a lot of people, we can affect some do something diplomacy. but as with russia, when if china -- let's say go after japan, i don't see us getting in the face of china militarily or anybody really soon. we're still fighting a war in afghanistan, for 11 years now, i don't see us going to war with something as big as china. overt military action. ashley: good points. colonel, brings up a good points, we talk about u.s. navy, have you a book out saying it is being decimateed, really cutback. how much? >> well, a good example is what happening in asia.
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i think that colonel is right we'll not confront china militarily at-this-point, but it sends wrong signal for example if aircraft carrier in japan, a decision put off to refuel it, if that is not refueled then aircraft is turned into razor blades or moth balled does that send the right signal to chinese or china? it is good that secretary hagel is talking testify. but -- tough, but the administration has cut defense budget by a half trillion already, and they plan to cut moreover next 7 years, we're basically going to lay up lynch cruiseers -- 11 cruiseers, stop buying tome hawk cruise missiles with no replacement. these are not good signals. ashley: colonel, you mentioned russia -- a similar situation,
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seems that mr. putin does what mr. putin wants to do, u.s. ccn huff, puff, give stharplly smard retribution from u.n. but what did the u.s. do? do you think that countries like russia are being emboldened with how rea we're responding? >> no. i don't believe putin is leave large army he has on eastern border indefinitely, as with last administration in georgia, and previous with czechoslovakia, and hungary. u.s. is not going to war in blaines of europe any prime -- in the plains of europe any time
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soon, therefore we're a littleing too less buing tooth less, but this is the way of the world. ashley: are we seen as weakened? >> i think there are things we could do, i don't think that sending a single ship to the black sea a good or great idea, havthere ought to be two ships. one thing we could do, the outcome here, depends up u upont resolve if any we show, if stead of sending a single ship to black sea, if we send a carrier battle group into the tal pick for example that would -- baltic for example that would send a much more clearer message. too russia that we're going to defend our nato allies, poland and will baltic states.
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that could draw attention away from the south. and that would give him something real thi to think abo, one destroyer is not doing it. ashley: we're out of time, colonel hunt, and seth thank you. >> inspector general respect find that russia hid important information on one of the boston bombers two years before they carried out their attack, russian intercepted a phone call where thamsanq talked about jihh his mother, they withheld that information from the fbi. >> biggest fight in washington is not between democrats and republicans but within the civil war of the republican party, so said republican strategist and author richard vigory next. (dad) well, we've been thinking about it and we're just not sure.
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ashley: a quick update, at this hour, kathleen sebelius resigning, earlier reports that president accepted her resignation it is her call, he will now nominate burwell as her replacement. sebelius resigning days after the rocky en officer am period -- enrollment period for the obamacare. and sending mixed message on issue of race, austin, texas, president marks passing of civil right legislation saying his presidency would not have been possible without the signing of the civil rightsable but in new york yesterday, attorney general alteric holder suggests that republicans use race when criticizeing him. the president and other members
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of the obama administration, ed henry with our report. >> reporter: joining civil rights leaders at lbj library, president obama celebrated 50 anniversary of late president lindlinden b johnson. >> they swung open for you and me. that is why i'm here today. because of those efforts, because of that legacy. >> reporter: talk of coming together was hours after more divisive rhetoric from the president and his attorney general alteric holder -- eric holder, saying that republicans are poring big money into midterms prying to prevent people from voting, a member of audience shouted it was un-american, un-american how is it we put up with that that we don't have to, earlier yesterday
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holden spoke at reverendal sharp sharpton national -- network, said that racism. >> last 5 years have been defineed by significant strides and reforms in even in face of unpress dined dented -- holder veers from his prepared remarks to claim there was a civil right connection to heated exchange he had tuesday with two house republicans about whether he should be held with attempt in congress. >> what attorney general ever had to deal with that kind of treatment, what president? >> that drew a angry response from speaker john boehner that, that they are not leveling on "fast and furious," and irs, and benghazi. >> there is no issue of race, we have this these hearings because
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they have made it impossible to get to the documents, they have not been fort coming. >> house democratic leader nancy pelosi does not want to touch charges of racism but suggestions that house republicans are sexist. >> their disdain for anybody that disagrees with them is pretty across the board, i think it applys to women. >> today, holder had a new controversy, members of u.s. sentenceing commission slammed him for jumping gun on amending sentences guidelines on drug offenders. >> they contacted me, and were surpriseed by action of justice department, and express their dismay. >> races at center of that issue as well concerns that there are stiffer sentences for cracko cocaine instead of powder, they agree withholder they were mad he acted unilaterally. >> ed henry thank you very. >> joining me now the a-time,
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juan williams, judy miller, and katie pavlich. juan, let me begin with you, g.o.p. accused of being racist now sexist. i want to get your thoughts? >> well ihink that if you talk about what happened withholder, he was -- holder, he was held in contempt of congress that is steep change, and one he was personaly offended by he made the points to congress he did not consider it shoul should toe just politics but a personal affront, then they went on with the new black panther party, we could go back to when he was working for president clinton and pardon of mark rich, heart and soul, charges about "fast and furious," about how he
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handled irs, and -- they really don't like eric holder, they have given him a hard time. ashley: but it sudden about race, isn't it about the job he is doing? >> i don't see it to be frank. i was going to say, hank aaron said, that open00 king run king. he said, you know, this g.o.p. has not helped obama administration one bit. remember g.o.p. is almost now a stotally white party, theyave to understand that people are going to say, why are you treating this pat and his administration in particular eric holder with just disdain. ashley: are we picking on pooreric. >> poor attorney generalal, no attorney general in history has been as criticizeed of he has, excuse me what about john ashcroft overe or every attorney
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general, the problem that holder has a thin skin. and people have questions about his competence and honesty, he say, he testified, he would never think of using the espionage act against a journalist then signed a warrant for james rosen e-mails and telephone record on fox news under the espionage fact people raise questions about an individual's credibility. >> i want to remind juan it was not republicans that helleric holeer in contempt it was republicans and democrats that voteed for criminal and civil contempt it was almost 20 democrats. just get that set for record not republicans, you can claim republicans for not liking him or treating him fa praorly but t was a -- poorly but was a by bipartisan vote, o on the issuef race that is a way to shut down
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debate it has been useed for 5 years they will continue to use it when republicans are asking really tough questions about geting to bottom of things like "fast and furious," and benghazi, and irs, what do they do? they bring out the race card, shut down debate, and no longer get to bottom of tough questions. ashley: juan? what do you say respond? >> i think katie has to understand, this is a driven by darrell issa. >> who is not white. darrell issa is not white he is lebanese. >> i am sorry, i don't know how to handle that. >> he is a white man in american. >> no he is not. >> okay, up to you, i'm telling you most. ashley: that brins know a good points. >> i will say, that darrell issa drove this in the heart of the substantive complain against eric holder, he did not provide document, he was not cooperative, he did not treat congress with respect of a coequal branch of government. if you look at that charge, what
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you discover is, eric holder testified multiple times, thousands of pages of documents, thousands of e-mails, and that even republicans, former attorneys general said you can't get into the workings of the justice department in the way that issa wanted, without risking criminal prosecution. >> all right, let's put iric holder issue aside. we could be here all night, bring up kathleen sebelius saying that is it i'm out of here. kate to you quickly. >> i think that we saw this coming with a week ago president obama announced 7.1 enrollys in obamacare, she was is not standing beside him, and president obama thanked nancy pelosi and dirk durban, he is did not thank sebelius. i want to stress, because she is resigned this is not
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accountability she is taking easy rote out. >> it reminds me a lot of don rumsfield, president bush wanted to fire him when the war was going badly, he waited until after the election to do it this is self serving in the same way, he could points that to 7.2 million sign ups, she is go out, this is a graceful way what he wanted to do is replace her someone with more comp teupbgt competent. ashley: juan your take, what does sylvia matthews inherit, some saying a mess. >> i leave that to you, republicans still don't like obamacare, at the moment. i tell you democrats and this white house feel very good about it feel as if a celebratory moment with news 7.5 million people signed up. so they think they are on a role, they are on ofengive,
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secondly, whether it comes do burwell, she was confirmed unanimously by sense sat for her job at office of management and budget. no doubt there she comes from a private sector business back ground, since we're here on dobbs show that means a lot of people in business community, health insurance community, are going to have a high level of comfort with her coming in. ashley: wish for the best. for the most hated job, juan williams, judy miller, and katy pavlich. >> thank you. ashley: and a minder to vote in on-line poll, question is, will anything of consequence happen to former irs official lois lerner, vote at lou dobbs d lour tweet us, that leads to patrol quote of day, steve jobs, be a yard stick of quality, some people are not used to an environment where excellence is
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expected. >> coming up next, government's war ox targeting farm -- on business targeting farmers. the reason they are doing it. next. why relocating manufacturingpany to upstate new york? i tell people it's for the climate. the conditions in new york state are great for business. new york is ranked #2 in the nation for new private sector job creation.
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ashley: tensions in nevada, residents rally with a rancher who is in a standoff. he has long stapbtding rights to remote open range. but federal government said his cattle of trespassing on habitat of an endangered tortoise and are seizeing his cattle. their tactics are overreaching and heavy handed. >> 120 people onboard a treupbs seprincess
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cruise ship in california are ill with a highly contagious norovirus, the ship is taking measures too prevent the spread of stomach bug, but another black eye on cruise ship industries. >> cbs announcing that comededin steven s colbert will replace david letter than when he leaves next year, colbert to be as himself. >> and 78 master tournament teeing off today at augusta, bill u hus leading off, here, we're wooting for jason dufner.
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sports or network logo on his shirt collar, he had a rough first round, 8 over par, but we're still duff nerveing, you can do -- >> in his new book takeover, vigory spells out how conservative wing can finally afor the control, joining us live, next. [ male announcer ] when fixed income experts... ♪ ...work with equity experts... who work with regional experts... that's when expertise happens. mfs. because there is no expertise without collaboration.
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ashley: time for today's word of the day, is a as em. -- is a a sarcasm. finding sarcasm in yesterday's on-line pole, we asked whether
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you thing administration will stand as a beacon of integrity forever all-time, there is the sarcasm. sorry lou, condition vote right now -- can't vote right now just fill off of the chair thinking that this administration even knows the meaning of integrity. >> can america survive i in tact with 3 more years of government lies. >> guess what we'd like to hear from you e-mail us, loudobbs.com or our facebook page. links to everything on the web site. and we read comments each night they get a free copy of lou's new book, "upheaval." >> we have 200 seven days until
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mid -- 200 seve207, days until s with his road map for republic republican. richard vigory, by near of direct markets for conservatives. new book "takeover. the hundred year war for the soul of will tkpwo*l, an g.o.p.w conservatives could finally win it" thank you for joining us, how did the g.o.p. become so split. >> teddy roosevelt allowed road rewilson to become wit president with less than 42% of vote. we have been fighting that wing of the republican party ever since the big government wing, conservatives have not realizeed they are in a battle.
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this is in my opinion most important political battle in america inside of the republican party until conservatives takeover we'll never be in a position to govern america, we're like biblical. >> youbiblical jews had to wander through the deserts for 40 years. until these group they pass from the scene, and principle conservatives became face of the opposition to democrats we're not be in a position to beat the democrats. ashley: there are those who say this party could be eextinct in 20 years or less, where is female vote or minority vote coming from if you have perceiveed approach from these particular voting groups. >> problem is not us addressing
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those issues. our problem is we have inarticulate leaders, big government republicans presents our argument our ideas to the public. and people don't like them, when they are face of the opposition, we lose. we don't have a problem with women, we have a shortfall of with unmarried women. married woman vote strongly for the republicans. we need is articulate leaders who can take this battle to the democrat, but our republican leaders do not have ideas that are radicly different from democrats we need to be able to take to the american people different ideas than democrats, 70s% plus of american people feel that government is the problem. they sharonal reagan's views this the problem, they tax too much, spend too issue regulate too much, gov nenes to governs .
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but we have to the had those leaders, primaries are key. in a couple years i think that in my book takeover, i articulate how conservatives can takeover the republican party, and be governing america in 2017. ashley: what is key issue for you? what is going to bring this party together, you say true conservative that needs to show the way, who will do that? >> well, we have fortunate, we have many, many articulate, attractive mostly young conservatives, in the senate we have rand paul, and mike lee, and ted cruz, and marco rubio, and governors with mike pens, and scott walker, and bobbyend jindal and rick perry, we have a lot of high level topical -- col barcaliber candidates. ashley: thank you so much, the book takeover on-line, we thank
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you so much for joining us, that is it for "lou dobbs tonight," thank you, coming up tomorrow, congressman blake, and internet security expert, and (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) ranked highest in investor satisfaction with self-directed services by j.d. power and associates.
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tomorrow. neil: here is what happens when you keep letting the people down, they stop believing your numbers add up, president damning statostocs that just seem more and more like damn lies, welcome i am neil cavuto. fool me once, shame on you, fool me twice, shame on me, fool me a hundred times, well shame on all of us. that is where we stand with this white house right now. we have a hard time believing going coming out of this white house right now. we conclude that any n

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