deserves to be told. i'm oliver north. good night. ♪ ♪ ♪ ♪ new terror threats here, there, in the skies and on the ground. now new questions whether we are spending enough to protect our lives and our livelihood. hi everyone i'm brenda buttner. this is "bulls and bears." here are our bulls and bears. welcome to everybody. we'll get the president's new budget soon. it's supposed to ask for modest increases on lots of things. the overwhelming majority of spending going to things that don't protect us. john, time to change that? >> look, definitely. the major thing of our

government is to protect the people. i think our government has done a good job of that. because of our debt we are limited going forward we spend about 18% of our budget on department of defense and homeland security. we have 82% of the rest of the budget and that's what they are trying to increase right now. we need about 20,000 more tech cyber guys hackers, for lack of a better word to defend our infrastructure. we have boekcaek boka haram. we are talking about free internet, free housing and we need to do something about the defense of our country. it's tough because we are in a budget mess because of our

overspending. >> a key was hacking. do we have the right priorities in terms of spending for that? >> in this budget request the president is doing is 50% for discretionary and 50% military. also there will be more money going towards defense spending because of the money we are going to save from afghanistan winding down. and closing military bases in europe. it needs to be a huge priority. it already is a huge priority. >> it's $2 out of every 10 we spend. we have belgium, paris. >> i disagree with john. i agree with sasha. while we only spend 18% of our budget, we spend on defense 40% of the world's budget.

we spend more than the next six to eight currents combined. we have a budget of $700 billion. the problem is we are still fighting world war ii. do we need 30 bases in italy? do we need 100 military bases in germany, for crying out loud? we have big battleships out there. the terrorists can strike everywhere. i think with $700 billion we have enough money to defeat isis, al qaeda ten times over. we don't need more money, we need it spent smarter. >> tracy paris belgium, isis. we've seen all of this just in the last week. isn't now the time to change things? >> to gary's point we need to redirect -- the fact that in the middle of all this the president had the nerve to come out and

say we should give out free college? that was crazy. like the country wants you to stand up and say i'm going to protect you and here is how i'm going to do it. unfortunately, our president did not come to the white house to kill jihadist. he came to the white house to spread equality. share the wealth. all his policies hurt the middle class and made the rich richer. he's not done what he should be doing. sure, you don't want to give them money? gary's right. there is plenty of money there. focus on this. say you are going to do something, redirect funds. that's what the american people want to hear. >> take it out of the nuclear submarine budget. there has to be money out there. we need to defend ourselves. do you think if we spent 30% gdp we wouldn't have attacks on 9/11? i think they bungled a lot of stuff that had nothing to do

with the budget. with the deficit we need to get down and fight real threats. decreasing the defense budget is not going to make us have less of a deficit. at this stage in the economy, let's reorganize the money in the defense budget for these newer threats and focus on getting the deficit lower to fight a newer recession, another threat so we have capacity to borrow at that point. >> john take these guys on. >> gary b. you forget we set a lot of our naval base in key west and moved them to guantanamo bay. i guess we are afraid jamaica will attack us. somewhere we lose options because of our budget mess that we are in. the fact it keeps growing. india and indonesia cut fuel subsidies to use that money for education. they found a way to reprioritize that money. i agree with that.

we don't have a republican and we don't have a democrat that has a balanced budget anywhere on the horizon because these poll situations don't want to cut anything because that's how they get re-elected. >> that is exactly right. >> it is. that's the problem. they are always looking towards the next vote. they are not making decisions that are good for this country. john is dead on. we have to do something because we will get stuck some day. we will get to a point where we don't have the money to defend ourselves. that is a really scary notion. might not be for us, but my grandchildren should be worried about that. >> you mentioned the cold war. of course we are not in the cold war but russia is really rising up. it's not an ally in any way. >> i agree. we are still fighting the old ussr. that's the problem. the budget is not any smaller now that russia isn't the ussr. it's still the same. this is a different world we are in. can italy defend themselves?

why do we need to be there? germany, for crying out loud. japan. every country in europe, we have bases over there. do we need all those? what we need is probably the green beret, the army rangers. those 10, 20 30 times over to fight terrorism. we don't need 100 battleships in the middle of the ocean. that's the war from the '40s. >> if you want to consider whether you need more money to keep us safer if you figure we spend $1 trillion in iraq and $20 billion training the iraqi forces who have run away from isis, clearly targeting money is better than just throwing it at a problem. >> it gets frustrating for the american people to hear that, hey, we are going to throw money at ridiculous pet projects like you only need 2.5 to get a free education when we have this war on terror going on. people need to know this is being taken seriously. it doesn't sound like it is from the white house. i think that is the biggest part of the problem.

their delivery again, is terrible. >> russia did not get the memo that the cold war is over. if we had a few $100 billion more in the defense budget, do you think anybody in our defense would say if we had a few billion more machines we would attack them? that wouldn't have happened. what would have been the point of spending more money? it wouldn't have stopped a lot of stuff. they have to reorganize. our deficit is the average of the last 30 years. that's not bad on the surface, but it might be as good as our economy gets the next few years. we have to do better than average so when we have another recession we can get below average. we have to get closer to break even. >> is half a trillion deficit that good of a thing? >> it's 60% down in the last five years. there is no good about any deficit we're going to have, but to be down 60% is good.

>> wait till interest rates go up. the world is a whole different place. >> five bucks off the national debt is a train in the right direction. it doesn't make any difference okay? we are still going to look at doubling the debt under president obama as we did under president bush. nothing changed. in good times you run surpluses. we never run those surpluses. we have politicians in charge. >> last word there. thanks, guys. cavuto on business 20 minutes from now. what have you got? meet the mayor telling muslims if they don't like freedom, take a hike. oh yeah, and the guy is a muslim. a minimum wage hike i actually like. you want to know why? you've got to watch 10:30. we'll save you a lot of money. >> we will be watching. first, they are back. anti-police protesters hitting the streets across the country this weekend. and now they have a new target, the economy.

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nation's most celebrated athletic programs. now back to "bulls and bears." protests against the police, planning to cause havoc in major cities through monday. protesters taking aim at commuters and businesses, not just cops. is this wise?

>> the reason we are here is to affect a larger scale of economic disruption. >> economic disruption. tracy, going after our economy? >> what the heck did she put in our cheerios this morning? that is the craziest thing in the world. affecting my commute, i don't care what your cause is. all you are doing now is annoying people. they are not getting their point across. no one wants to hear what they have to say. affecting the economy is not a point here. if you have an issue with the police or the way things are being run, you don't stand on a bridge and block commuters. >> and she is a commuter, we know that, the top one here. >> what do you make with this? >> i agree. the way you achieve reform. it's clear that there needs to be some reform or at least attention paid to inequalities in our judicial system and our law enforcement. however, the way to get reform is to get people to your cause. inconveniencing them to care is

not going to work. the beatings will continue until morale improves will not get people on your side. it's a shame. >> do you think this is going to backfire on them? >> i do, brenda. i agree with both ladies. what do they do? they sit in a room and go we are upset with police. what's the best way to do that? let's block apple. that will help. it's crazy when you think about it. here is the bigger problem. they don't even have the consensus on their side. the latest survey 75% of people overall like and respect their local police. if you think that's not the african-american, 56% of african-americans approve of their local police. it's kind of like blocking mcdonald's because you think they have bad food. most people want to go to mcdonald's because they like mcdonald's. this will accomplish nothing. >> we've seen civilrotes

throhoutur hiory be ver ccesul. is is dieren >> ty he thediffent sues. i'ee tated gea by poce. lice nfiste prorty. the poceav bece mitarid. th is bizae sue. theas ae a rig on the ge o rtin luering day,he pades theps bck tcity u wa the publicto take the side of the protesters not the cops. you want marches, not blocking traffic. this is going to turn the public away from these legitimate issues of local police. >> those people blocked commuters, they stopped an ambulance getting somebody with life-threatening injuries to the right hospital. >> sure. dr. king was in my opinion, one

of the great men of the last century, one of the great men of all time. thisthat is highly inappropriate. if you have a problem the nypd is the greatest police force to the world. they referred one case to the grand jury. they did not indict the officer. if you have a blome with that, there is no sense going after the nypd. they did the right thing. go after the judicial system. like gary b. says, going after apple? these are just trouble makers. they need to be arrested. they are thugs and a hazard to society. >> you are going after innocent citizens. after ferguson, i sat on 6th avenue and parked for 20 minutes. i didn't do it. me and other people were punished. they are diminishing their call. no one will listen. >> thanks, tracy. cashing in just over an hour from now. what do you have coming up?

>> the terrorist next door. new calls in the u.s. to revoke american citizenship who goes to train and fight with terrorists overseas. a bipartisan push to hike the gas tax as pump prices fall. should congress take a hike instead? cashin in. see you at 11:30. while these low prices may be saving you a bundle new signs they could be slamming the brakes on a recovery.

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more jobs taking the plunge with plunging gas prices. thousands of lay-offs. some warning it's only going to get worse. are these low prices hurting more than helping? >> i got to tell you. when this went through $50 a barrel oil, that's when the positives were outweighed by the negatives. this boom in economies put a lot of people to work. when it goes this low all this production put in place is under water. thorough's pumping oil. they are paying $60 to get out of the ground. it's going to hurt canada jobs and cause a recession. we don't wanted 20 $30 a barrel oil. it's like when housing prices collapse. housing is cheap, that's great, but you fire the carpenters home builders, can't sell houses at those prices. let's hope this doesn't continue. >> isn't this just a restriction

redistribution of money? >> we were offended when gm and chrysler were bailed out because it was inefficient money going to them. whether it's overcapacity lack of demand whatever. the oil industry is now collapsing. so what? now i don't need to spend $100 to fill up my tank, i spend $50. that other $50 i buy more groceries or i take a vacation. we move it to more efficient means. we had a housing crisis because that industry was overextended with credit. if the oil industry can't survive with market forces so be it. we move the money to more efficient and effective means.

>> the energy sector has become a key creator of jobs. isn't that an issue? >> it is an issue. gary b. is right about comparing this to housing. 77% of americans at that time owned homes. that is a big difference how this affects. this is affecting consumers in the positive way. you have the lower rate count since baker hughes managed that in 1987. royal dutch shell canceled a billion dollar project in qatar. you are seeing a huge cut. this is a gain back. >> is cheap gas better than a loss of jobs? >> there is a loss of jobs in the oil industry. it is a gain in jobs for the airline industry, for example, which had to lay people off when fuel costs are so high. we can't stop agreeing today.

what's this mean? it means $500 a year in the average consumer's pocket. $100 billion in the economy in a more efficient way. it's not for anyone to lose a job but one sector it's another. >> schlumberger cut jobs. if you have extra money from gas savings, where did it go? it's in homes going onto your food bill because food prices have gone up. i'm not sure this is going to work out the way everyone is hoping it is. >> last word there. thanks, guys. thank you, sasha for joining us. >> thank you. >> now the government is talking about running the

terrorism is real. defend yourself. smith and wesson up 15% over the next 12 months. >> your prediction? >> bank of america up 15% in a year. >> jonas? >> inflation was under 1% last year. good for ups they are going to keep prices where they are and

costs will drop. >> president obama calling for government-run internet. that's crazy. a slippery slope. leave it to guys like google. the next can't miss. neilavutup nt. >>with erope crkingdown on teor mulcultalisragi acro the gobe dy a slim i'm il cuto. tinci wos. th slim may of rterd tellg muims eyon't lik the feedoms othe st. ahead and pack your bags and get the hell out of the west. some did not like that. charles payne saying we need to hear more of that.