the coalition. in fact, we should demand arab members of the coalition put boots on the ground and when you win then you can throw your job fairs. stay safe, america. z: have a great weekend. david: "the willis report" is next. >> hello everybody i'm gerri willis and this is "the willis report," the show where consumers are our business it is latest screw up by the irs. no refunds for now. nearly a million people are told to delay filing their taxes. >> no, it is not operating smoothly at all. i suspect it never will. gerri: a government panel has new rules for food and it ain't sweet. feds say they want to transform what we eat. cars, made by apple, on the road in five years. is this even real and would you drive one? >> i like what they're doing with the cars but biggest knock against microsoft was they never diversified away from their operating systems. also a nation shivers. record-setting deep freeze, won't let up. >> to date, you can see along

lake michigan it is frozen over. 80% of the entire great lakes are frozen over. gerri: new winter storm is on the way. and a new lawsuit against jim beam. the says popular bourbon says it is not what it says it is. >> age every drop of jim beam twice as long as the law requires for a true kentucky straight bourbon. gerri: all that and more, coming up on "the willis report," where consumers are our business. ♪ gerri: here's the latest message from our federal government, think of mother nature, not your stomach. a government panel recommending dietary guidelines. want you to eat less meat to help the environment, guess what, it doesn't stop there. the panel pushing a tax on soda and sugary snacks. here to weigh in from the cato institute chip, and author dr. david perlmutter, author of

the upcoming book, brain maker. great panel. chip, i start with you, i started looking at this, i couldn't believe how much this report, 500 pages from this obscure government committee overreaching tells us not to eat meat because it hurts the environment. is that their concern? >> you wouldn't think that the dietary council would be concerned about impact on the environment of the food we're eating. it is completely overblown and not really anything that are you really that concerned about, when you're choosing what to eat for dinner? gerri: right, i couldn't agree more. there were other things i thought were amazing. they want obesity interventionists in your place of work. so i guess if you eat too many candy bars out of the wending room machine they will come for you. unbelievable to me. dr. david, to you, what do you make of these guidelines? are they going too far? >> well it is hard to say. it is a step in the right direction, that finally we're getting decent guidance telling

us that perhaps we need to cut back on sugar and carbohydrates. up i think idea of becoming totally not eating meat is a bit draconian. i think the argument in terms of the meat issue or animal product issue in terms of the environment really needs to be substantiated. there is a lot of work that needs to be done. further, the idea that government intervention and even taxing foods that are high in sugar and carbohydrates coming from advisory committee on nutrition, i mean it would be like asking your congressman for dietary recommendations. so that is a bit scary. gerri: like asking your doctor for tax advice. what does know, right? kerrey to you there were other things i thought were coercive. they talked about electronic monitoring of your tv watching. think about this. so the government will be on your shoulder, watching you watch o'reilly or whatever making sure you're not sitting there too long. taxes on desserts sugar soft drinks colas.

would that even work? >> a lot of this you have to remember, are recommendations okay? doesn't mean it is going to happen. so let's just, clear that up. however, do i think a lot of might be overstepping? i think so. i don't really think that the consumer is going to be able to take all of this in and make all of these changes. >> hey, this isn't because we're stupid keri, come on chip, we're not dumb, right? the real problem we understand what is bad for us. we're not taking the government recommendations. how, why would people be willing to make a change in their diet for the good? >> well i think -- gerri: ask chip. >> okay. >> well they shouldn't be based on false promises to save the environment. this all works into the president's sort of climate action plan because the dietary council giving out recommendations of greenhouse gas emission and which foods produce less. when you work through the numbers, none of them make any difference in the big picture.

highly misleading. >> patently misleading. you want to say? >> a lot of dietary guidelines are for federally funded meal programs. gerri: don't have a very long arm. they will influence a lot of people. make the difference what foods are sold and what foods are not sold. at end of the day companies make decisions about what they're willing to invest in. dr. david, to you do you go along with the idea this has been proposed numerous places, right here in new york city, for one, a sugar tax, maybe a soda tax? do you go along with that? >> no, i don't. people should be a able to vote with their wallets. shouldn't be a mandate but based on informed decision. let me take you back, by and large a lot of government recommendations have been given to us by the u.s. department of agriculture which really their mandate is really to help farmers grow and sell their goods. so really was never based upon what is actually good for a person in terms of his or her health. so we really have to take a step

back, what are those fundamentals? you know there was actually a time in our distant history you know your older viewers may recall we were told we should eliminate fat or go on low-fat diet. gerri: right. >> what we really need to do stop sign advertising our food and science advertising recommendations. what foods allowed us to survive this day and stop making silly recommendations based on one or two reports. >> you make a really good point. if i could ask a question here. you know i think the government really kind of pushed us into eating carbs. suddenly carbs are bad. >> i don't think we can just say carbs. fruits and vegetables are carbohydrates which we recommend people eat more of. we recommend people eat whole grains. science wise they have been found to help lowering cholesterol levels preventing

heart disease. we're looking at the science. dietary guidelines is what they're doing. maybe some recommendations -- gerri: chip, to you, i think government created some of these problems because their recommendations were frankly bad, punk. they drove us to the wrong things to eat. now we're fat because we were sitting around eating pasta and chips and stuff like that. the government was recommending that. >> well, the state of -- >> you're exactly right. >> the state of science changes over time. gerri: right. >> and as we as you heard what is going into these recommendations is not just science. there is politics involved to. you have to tyke this with are grain of salt. does the government need to set policy based on these guidelines? >> take it with a grain of salt but not two grains of salt. let me go back to the statement about eating more fruits and vegetables but that is good recommendation but this is all about carbohydrates in terms of significant degree representing health risk. consumers need to understand there are hidden sources of sugar in carbs.

for example 12-ounce glass of orange juice contains nine teaspoons of pure sugar. may as well drink a can of cola for breakfast. that is the type of education people need to get to make informed decisions. idea of mandating that is a little bit draconian. gerri: i'm on your page. keri is disagreeing with soda for breakfast. >> that is little farfetched, comparing orange juice, 100% orange juice to soda. that i wouldn't compare. >> i'm glad it is farfetched. >> that's good. thanks so much for coming on. i knew it would be a good panel. thanks to all of you. >> thank you. gerri: i want to tell you i'm very happy to see my viewers are on the same page as me with this stuff. we asked to you tweet us, what is your guilty habit out there right? we got this from age i think. movie nachos with fake cheese and too many jalpenos. i only feel guilty when the chips get soggy. amen to that. rick says this it is my sausage egg and cheese bagel.

i love. that breakfast delight. you have to have a little bit of that every once in a while. maybe dr. david has that right. what are we eating? maybe keep eating more of it. more to come this hour including a major mistake surrounding obamacare forcing a million people to delay apply filing taxes. would you buy an drive a apple car? could it soon be reality? details coming. ♪

life an everyday miracle of survival today the future of all life on earth

hangs in the balance what happens next depends on us ♪ well you done done me and you bet i felt it ♪ i tried to be chill but you're so hot that i melted ♪ i fell right through the cracks ♪ now i'm trying to get back ♪ before the cool done run out i'll be giving it my bestest ♪ and nothing's going to stop me but divine intervention ♪ i reckon it's again my turn ♪ to win some or learn some ♪ but i won't hesitate no more, no more ♪ it cannot wait, i'm yours ♪ open up your mind and see like me ♪ open up your plans and damn you're free ♪ look into your heart and you'll find that the sky's yours ♪ so please don't, please don't, please don t

♪ there's no need to complicate ♪ cause our time is short ♪ this oh, this oh, this is our fate ♪ i'm yours gerri: well, you probably heard the rumors. apple reportedly working on a secret electric car and it could be coming to market as soon as 2020 believe it or not just five years from now. reinforcing these rumors, the company gettingcaught up in

illegal battle from poaching companies from an electric carmaker. does apple have what it takes or should it stick to iphones. we're with former google tech manager sarah cooper. welcome to the show. is that a big leap from iphone to entire car? >> that is pretty big leap. if you have problem with ios 8, hopefully you get by with good customer service but if you have a problem with your car -- gerri: drive to somebody else. >> that would be pretty dire consequences. >> gm dan akerson told reporters that no way apple can pull this off. i don't know if he is speaking from one of the biggest carmakers in the world and nobody can do what i do or is that true? is it too hard capital intensive, too difficult. >> it is a difficult industry to get into. most automate tiff industry experts you need five to seven years to develop a new car. apple has zero experience developing a new car. they say they can do it by 2020?

gerri: 2020. >> that is five years from now. >> gm did it in five years. haven't had that much success. you're not seeing fiskar cars all over the darn street, that's for sure. akerson's point says there are too many players and margins are too small. you make a big capital investment and don't get a payoff what you're doing. look at this number, apple's cash hoard is $178. they can buyout right gn and in order, seven times over and little money on the side. why don't they buy expertise. >> gm and ford might not be up for sale. we'll see if that is true. they have been talking to tesla but we're not thinking actually tesla is actually for sale. elon musk has too lofty goals for his company. he might make a partnership with them though. gerri: right, exactly. what does apple car look like? , i mean you know, it is interesting i have this theory about apple what they really want to be is the high-end the elite brand like tiffany's of

electronics. >> yeah. gerri: so what would their car look like? >> they're known for their incredible design. so i'm thinking that the car would actually be incredibly sleek but it would have to be extremely energy efficient to compete with some of these electric cars. they're saying it might be a minivan. you can imagine a experience where in the front the parents are getting one entertainment experience and in the back the kids getting movies and games. yeah, you never know. they might revolutionize this. if they do it with the phone maybe they can do it with a minivan. gerri: so they poached someone who designed a concept car for mercedes. look at pictures of the car from mercedes because it is mighty pretty. this might be close to what you're talking about. do we have the pictures i hope because they're very beautiful, very sleek as you say high-tech, cutting-edge, electronics. is that something you think? apple might do? >> i think it would have to be something like that. in order to actually differentiate themselves to say this is car everyone wants to

buy which will probably be pretty expensive as well, it better be something completely different and revolutionary. gerri: talk about the batteries that is what it is all about, right? how far does apple have to go to create a battery that would fuel a car? >> that is why they're poaching employees because they have the expertise to sustain a car an battery that would differentiate themselves. that technology could be used in any of devices. maybe in this car doesn't go anywhere, it might do something else. gerri: they have so much cash. >> billions of dollars. >> sara, great to see you. >> thank you. >> we want to know what you think. here is our question tonight. would you buy an apple car. log on to gerriwillis.com. i will share results at the end of tonight's show. later in the show, you knew we would talk about liquor. jim beam claims its whiskey is hand crafted but is it relately? we'll debate. the obama care enrollment session claimed was a huge

success. there now forced to acknowledge a big big oopsy. stay with us.

gerri: latest obamacare blunder, this time the irs is to blame. nearly one million people were told that the irs sent them wrong information for tax returns. the government is asking in to delay sending in the returns until it is straightens things out. with us dr. potarazu.

welcome back to the show. tell us what the mistake was. >> the mistake was that the benchmark premium number used for the form was incorrect. and it is off of that number that is the calculations are based. and having been in the industry for over 20 years -- gerri: you mean calculations for subsidies, right? >> the calculations of the subsidies, yes, that's correct. so having been in the industry managing health care technology and data that kind of mistake is extremely serious. because -- gerri: it is also it is serious but also making people mad because if you delay them turning in their tax returns, they have to wait for their refund. they're currently being told that you can't file until march. dr. p, you know how this works for so many american families. you have that refun timed to the day. you have that monly already spent. this has a lot of people out there frustrated, wouldn't you say? >> that is the first domino, to fall gerri.

you're absolutely right, people will get frustrated because they're only reporting 800,000. but i'm absolutely confident the problem is much more serious and what happens next is that we're going to discover there are deeper issues, because the back end systems are having problems in terms of synchronizing data coming in from the irs, going to the insurance companies, and it is so complex that the number of problems and errors that can occur, are far more than what has been anticipated. the next domino to fall is when people figure out the actually don't have coverage when they thought that they did or they show up in the doctor's office there is a problem. at which point, this act does not become affordable, and there is no care. gerri: let me interrupt you here for a second because you've been saying for a long time there are problems in the back end and they will only slowly show up but i want you to hear from the ceo of obamacare kevin

carnahan. listen to this. >> we're very pleased with the second year. we're not doing any victory laps. there are always opportunities for us to do things better which is what we're committed to doing, we're confident that next year's open enrollment is going to be even more successful and easier for consumers. gerri: dr. p, is that just pr spin? >> the number is not in enrollment. that is a fallacy. it does not matter how many people enroll. the endgame is if those 11 million people are actually paying the right subsidies, the math is correct and they're able to get the care and doctors that they're supposed to. until we receive that end point, it is like giving people a ticket to an amusement park and there are no rides there is no cotton candy and nothing is working but you have 11 million people in the amusement park. they're not going to be happy and that's where we are today. gerri: wow. >> so 11 million people enrolled

but 800,000 is a big percentage of that 11 million. and that is the tip of the iceberg. and i speak again -- gerri: let me say i heard people talk about the proportion of folks who sign up, who typically actually send in the check, okay. that is not just for obamacare. it is for any health insurance company. way down to 84%. so you start there, most people will not a lot of people will not send in the check. those numbers come down and come down significantly. but the other problem i have with what is going on, guess what, we offered yet another extension, because the democrats are afraid they will lose their jobs and people don't understand they're on the hook for paying their part of the freight here. what is going on with that? >> correct. i think that is a major issue because a lot of people are still uniform lar with the implications of penalties which have gone up to $325 from $95 in the first year. that will be a rude awakening. the second is that people are still trying to navigate the complexities what is within

their plan. and what the plans really are. if the government can't get the premium correct in terms of the information, then how can the average american consumer, understand what they're supposed to choose in terms of what they're actually getting? that is the irony here. then you get into the issue of, the dependents and how many people are on the plan, who is actually eligible for the plan, and what is actually covered within the plan that you chose. there are some complexities to the unknown to your point are far too complex for the average individual to navigate that the amount of chaos is going to mount on its self over the next several months. gerri: consumer end that is confused. clearly the government that is screwing up here. they can't explain it. >> more so. gerri: they can't explain it to people. that's why people can't understand it. they're not stupid. government is capable of putting together a program that makes sense.

>> communication has been critical i agree with you, 100% gerri. i said time and time again more needs to be invested at every level over and over again how we communicate this. i said this in the surgeon general's role. the surgeon general's role should have component educating folks what this really means because this is major public health issue. gerri: i think that is great point. i don't think we had a surgeon general for first four years of obama administration. it's a mess. dr. p, thanks for coming on. good to see you. >> likewise. thank you. gerri: coming up, arctic air, bitter cold winds move across much of the u.s. how long will the subzero temperatures stick around? next, our legal panel has a discussion on a lawsuit that claims that jim people's bourbon is not what it claims it is. hmmm. ♪@?

♪ ♪ gerri: welcome back to "the willis report." in a moment our legal panel debates a lawsuit against jim beam, but it's time now for a look at stories in the news. the government fines takata $14,000 a day for failing to cooperate with an investigation. takata's airbag inflaters with a lethal flaw, some explode and spew shrapnel into drivers. at least six people have died. takata has failed to provide day day -- data to nhtsa. after nine months of talks, labor secretary thomas perez told dockworkers and their employers if they can't seal the deal today the parties will have to go to washington. however, officials have announced the ports will be up and running this weekend. stocks hitting new highs today after a breakthrough regarding greece. the country and its eurozone

creditors reaching a deal to extend agrees' a bailout by another -- greece's bailout by another four months. and the world health organization has dramatically cut the time it takes to determine if someone is infected with ebola. the test can provide results within 15 minutes compared with current tests which talk about 24 hours. and those are some of the stories in the news tonight in case you missed it. and on to our legal panel. the famous bourbon brand jim beam has been slapped with a $5 million lawsuit over the word "hand crafted," and that's written on its white label bottles. the lawsuit is claiming false advertising. so is there a case here? joining me now, business and contract law attorney dominic romano and fox news legal analyst lis wiehl. i want to show folks what we're talking about here. right on label it says that it's hand crafted. tells you for anybody who wants to actually read the label. lis, let's start with you, does this lawsuit have merit? >> it really doesn't. and this guy and his lawyers

have been suing other producers of not just jim beam, but let's see, maker's mark angels envy, so they're looking for money here. they're going after the deep pocket. and by the way when you say "hand crafted," that doesn't necessarily mean handmade. and when you go on to jim beam's web site which i did this afternoon, you'll see that they actually go through the process and show you that it's men and machines, it's together. so they're not trying to -- gerri: dominic is that true? >> that part is true there. only that part. >> on their web site they do show that. you go to a dictionary, hand crafted, what does it say? made skill thrill. this is advertising right? how much do you respect the public? is the person in the liquor store or going to go to youtube or go the web site and see? no, they're going to read it says hand crafted. is it hand crafted?

the answer is, probably not. gerri: i've got to tell you -- >> not a great deal of human involvement. not a great deal of human supervision, assistance or intervention. gerri: all right lis respond to this, so the folks at beam -- [inaudible] calls this claim frivolous, we will defend our case frivolously, and we are confident we will prevail. what does it tell you that they only sued for $5 million? >> only for $5 million? gerri: they make $90 million in sales every year. a lot of money. >> i want to go back to -- gerri: answer my question. >> five million? that's a lot. that's a nuisance value. gerri: that's a i nuisance value, i agree. >> i want to go back, i really do want to bring up the anheuser-busch case that happened in 2013. it was, again, a big case. they got $50 per family to say -- because it said -- >> that's not what they're looking for here. they're trying to get a class action certification. >> not going to happen.

damages, five million? >> inform the public. it's about respecting the consumer -- >> it's about making money for -- >> you know what? they're competing. unfair competition. there are people making hand crafted, small batch -- >> there are. >> -- bourbons, and they're -- gerri: thank god. >> and they're competing against these people who put out three and a half million -- >> it's the most popular bourbon that's out there. you just made my point. it's not handmade you said. that's not what the label says. it says "hand crafted." that's different. >> hand crafted is made skillfully by hand. not much of this is made by hand. >> here's what's going to happen -- >> and it's not a small batch. >> they're going to settle this for nuisance value. >> and what? >> this is what people hate about lawyers. you sue for $5 million because this guy what he bought a couple of these things and he got ticked off? >> it's about truth in

advertising. gerri: this is what my question was about. five million is not much to this company. >> they won't get that. gerri: pay it and walk away. >> how much do you respect the consumer -- >> you've said that before. here's the problem with nuisance value cases though once you settle a case like that -- gerri: then you know the standard. >> and other guys are right behind you. i hire a lawyer -- >> and they change their practices and be more honest with their consumers. >> they put it on their web site. >> are they really small batch? are they really hand crafted? [inaudible conversations] gerri: they're the world's number one bourbon. >> that probably is true. >> it's not because of production. >> but the lawsuit is saying just be honest about how you make it. gerri: i love it. i thinkst funny. before you guys go, there are lots of claims out there, and i want to read you just a few of them. all right. so gillette, the best a man can get. take a look at this.

[laughter] so there's a claim. snapple, made from the the best stuff on earth. really? [laughter] really? can you prove that? >> all the junk that's in there? gerri: and coors light, cold as rockies. >> when you go to the grocery store and see an organic label, do you want to know it's really organic and no chemicals were used in the process? chances are, yes. this is twice as expensive typically, as the average bourbon. so you're paying more because it's made by more human beings more labor is being employed. but if that's not the case, maybe it's time -- [laughter] >> i don't think -- gerri: is it possible, is it possible, though -- i'm just curious, because i just read some examples of advertising claims -- that people don't sue over, but you could but nobody thinks that anybody's really telling the truth here. the best a man can get? really? >> it's different than saying it's made by hand. maker's mark, handmade. jim beam, hand crafted.

look at dictionary. it says skillfully made by hands, human hands. not machines. [inaudible conversations] gerri: we've got to get out of this. this conversation's going downhill in a hurry. [laughter] thank you. you guys were great. >> yeah. love the

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>> green bay dealing with that snow x it's nothing substantial. however, it is enough to coat the roads and produce slick

travel so take it easy especially as you're heading home from work. and it's going to continue to combine. that area of low pressure is going to continue to combine with all the arctic air in place and taking a look at these real temperatures, we're going to get even lower as we head into weekend. right now it currently feels like it's 28 crees in washington, d.c. and -- degrees in washington, d.c., and that's a piece of cake compared to what it feels like in new york where temperatures are in the single digits even colder across syracuse coming in at -14. they're dealing with windy condition, so no relief on the way not at least for the next few days. now, that system will continue to intensify as it moves further east, and it's going to produce snow showers across the region from new england and as far west as illinois. we're also going to see much of the same set up as we're seeing with an icy mix further south and also a mix of rain and snow impacting folks across new york. and if that's not enough, we're also going to pick up anywhere

between 3-6 inches in the darkest shaded lawyer. locally higher -- area. overall, quite unsettled through sunday, and then we're looking at another arctic blast, lots of colder air once again as we kick off our weekend. or, i should say, as we head back into work on monday, we're going to see lots of colder air in place be and passing us here in the northeast. but that cold extends as far south as brownsville in texas. so overall very cold conditions. i wish everyone a safe weekend and bundle up because you are definitely going to need those heavier coats and gloves. gerri: thank you so much for that. i wish you had better news, but i guess you've got to tell the truth. thank you. well the 87th annual academy awards are this sunday even though many of the attendees will go home without having won an award, the losing nominees never go home empty handed. there's always that swag bag with thousands of dollars worth

of merchandise. deputy awards and feature editor jenelle reilly breaks it down for us. good to have you here. >> thanks for having me. gerri: $167,000 the most ever. what's so valuable in the swag bag? >> well some of those prices might be inflated, because when i actually look and break down what's in the bag, i notice it's like $5,000 for a family portrait, you could probably, you know go to the mall and get something cheaper. [laughter] there's a lot of artwork, also valued at $5,000. some of the most interesting items, there is a $250 laser vibrator, actually sounds a little terrifying to me. there's actually a $250 vaporizer. i don't know, you know what they think academy award nominees are doing in their spare time. and then my personal favorite it's a gift certificate valued at $20,000, and it's an

opportunity to have a life coach come meet with you and teach you -- this is a direct quote -- mind control techniques. gerri: a vibrator and a life coach. of that's about all you need right there, right? that is so sad. [laughter] what's interesting though, is they give these out every year. do like the really famous people get better swag bags than the people filling up the seats? >> oh, definitely. the swag bag is actually only for -- this is very interesting to me -- it's for the people in the acting categories and the directing category but the losers. so if you don't -- [laughter] if you do win the academy award, you don't get the swag bag. gerri: you're kidding j. do you want that gold or do you want the laser vibrator? gerri: jenelle, has anybody ever told you any of the famous actors what they do with the stuff? do they donate it to charity? do they put it in the closet t? do they give it to their sister back in minnesota? >> yeah. i would say 99% of the time

these go to their assistants. gerri: very interesting. okay. there's a controversy though right? let's get to the controversy. the academy doesn't like these. why? >> well, back in 2006 they used to authorize the swag bags and they used to actually have their own. but then the irs was going to start taxing the people who received the bags. [laughter] so it wasn't really fair, you know, to get a bag valued at $170,000 worth of -- gerri: yeah. because in their tax bracket -- >> you're never going to use. gerri: that's like 50% of the $167,000, you've got to pony up a lot of dough. do they pay tax on the stuff? >> no. the academy no longer authorizes them, and so it's handled by a separate company called distinctive assets which is a marketing company. gerri: so nobody ever knows. >> yeah. so they just deliver them to the nonwinners. gerri: all right. predictions. best picture what will it be? >> for me it's all about "birdman."

i loved this movie, although i did not expect it to be the winner, but it has swept the guilds. it won the producer's guild director's guild and sag ensemble. that is very difficult to argue with although oddly a lot of people are still predicting boyhood. in my opinion it's kind of a triumph. they were both independently made both very singular visions and really passion projects for the directors. gerri: i'm hearing that "american sniper" is going to get zero. >> i think it'll actually get some sound editing awards -- gerri: oh, my goodness. >> i wouldn't be at all surprised. gerri: that's like an insult. sound editing awards because nobody will ever know you got anything. >> but i'm telling you, if there's going to be a big upset, keep your eye on bradley cooper. he is the only previous nominee in the best actor category. even people who don't like "american sniper" really admire this performance. it's transformative, he put on

all this weight, he's very beloved by the academy -- gerri: well,s this is advice i'm willing to take. keep an eye on bradley cooper. jenelle, thank you. [laughter] still to come my two cents more. and next, is the returnover subprime lending good or bad for consumers? why those low credit scores are being targeted. stay with us. ♪ ♪

♪ finish♪ gerri: subprime lending is back with a vengeance. we told you that this week. loans to consumers with low credit scores are at their highest level since the start of the financial crisis. larry winget, a personal finance expert and author of many, many

books, before we go to this larry, we had a great segment on this fella suing jim beam, $5 million, because they claim on their bottles they're hand crafted x this fella says, no way. how do you react to that? >> the average bourbon drinker doesn't care. [laughter] i've got over 100 different bottles of bourbon, and all i care about is whether it's smooth and tastes good. gerri: i agree with that. all right, let's talk about debt. i know consumer tet is one of your -- debt is one of your favorite topics, and this week we did a lot of reporting on people in subprime debt. four in ten people are getting subprime loans mostly for autos, because if you default on that the bank can just come to your house and take the car back. what do you make of this? are we going back to 2007 2008, 2009? >> it would look like it. it's kind of déjà vu all over again. interesting, though, you said four out of ten. we have four out of ten americans who spend more money

than they earn. i wonder if those are the same people? [laughter] these are -- you know, you have lending institutions that are willing to go out there and loan money to people who have proven new their past credit -- through their past credit that they are either slow pay or no pay. that sure seems stupid to me. and they're not doing these people any favors by loaning them money. gerri: well what's the credit score, 640 or lower? i think that's the subprime limit. and, of course that score goes all the way up to 850, so these are not people that, larry, you would probably lend your bottom dollar to, am i right? >> absolutely right. as i said they've already proven they don't respect credit. the problem is, too, if we make it easy for these people to borrow money easy come easy go. in other words, money that came to you easily, you're probably not going to respect a whole lot and might be willing to dismiss those payments. we saw that when we just got credit cards in the mail and you were preapproved for credit cards. you didn't respect that credit card so you charged it up and

it didn't bother you to not pay it off. this is about respect. it's a commitment to your commitments. gerri: a commitment to your commitments. but, you know, it's not just low credit score people who are taking out the dough right? there's more consumer debt than ever $117 billion over the fourth quarter over the previous year, that's $11.8 trillion. what's wrong with us? why don't we just pay for things when we buy them? [laughter] >> i think we get confused by what's really important. i think we've confused our needs, our wants and our can't live withouts. you know, when you've got 50% of americans who believe that they cannot live without a cell phone, we are confused. a third think that cable tv is a necessity. that's a confused society. gerri: whoa, larry, larry -- >> people want stuff. gerri: larry my friend, we love the people who love cable tv, right? right? >> you know, i understand that. but food and shelter are what you can't live without. gerri: that's true. you know the millennials have it all inside out.

they don't want a house. they'd rather have a cell phone. they're going to use uber, they're not even going to get a car. they're not socking away money for the long term they're spending it now. >> i wonder about that every time i go to las vegas. you can't get to a table because they're packed. we've got 40% of people who spend more money than they earn you haven't had salaries go up in the middle class in years and years and years. where is this money coming from? gerri: i agree. >> people don't have it, so they're borrowing it. gerri: larry, an important fact we're omitting, it is 77 degrees in phoenix right now. that's what your backdrop is. [laughter] and i feel a little ripped off. i'm just saying. there you are in phoenix it's all warm. >> you know, there are consequences for everything, aren't there. [laughter] you live up there, the consequence is you freeze your butt off a good part of the year. that's how it is. gerri: that's how we keep our weight down larry we just

freeze to death. thanks for coming on. it was so good to see you again. >> it's good to see you. gerri: all right.

gerri: would you ever buy an apple car? we asked the question on gerriwillis.com. look at this 10% say yes. no 90%. ooh, guess they had a bad experience. finally, you know how people talk about core competency? you know like ford considers making and marketing trucks a core competency. the trouble with government is it has no core competency. it has delayed or changed deadlines for the law nearly 40 times, and it's doing it again today because the irs sent out incorrect tax forms. now nearly a million people who applied for coverage will have to wait to file they are tacks until at least march. -- tacks until at least march. and most important, wait for their refunds. government's ambitions have gotten beyond its capabilities to borrow another familiar phrase from business, a downsizing is in order.

that's it for tonight's willis report. have a great weekend, we will see you back here monday. stay warm. ♪ ♪facebook page. thank you for being with us and have a great weekend and good night. stay on the president might not know what to call him, but now isis this might have saved him the trouble. welcome, everyone, i am neil cavuto. don't look now, but the muslim extremist are extremely close to calling libya theirs. experts tell me that the issue isn't if they fall crisis but when, given their rapidfire spread throughout the middle east, i'm thinking on the scary ballgames. because they had this and don't southern europeans know it inferior. and i'm te