e got so little time. we're going to bring you back. thanks for talking. >> thanks for having me. lou: next it's comparative advantage. thanks for being with us tonight, we hope you have a great evening. good night from new york. neil: all right, up to the keep baltimore calm, keep the cash coming in. welcome, everybody, i'm neil cavuto. and never mind, we spent trillions on a war on poverty, i think we're still losing. top democrats say baltimore is proof we're not doing enough spending. add steny hoyer to the long list of liberals pushing for more urban aid as if money were the answer. in the case of baltimore, it is not. on a per student basis. federal aid to baltimore schools is second only to new york city schools. and the last time i checked neither is lighting test score

fires. here with us phil gramm saying more money is not the answer, it creates bigger problems. we're going to go along with senator gramm i don't care if you are on the left or the right. here is a guy decades ahead of this problem and who's gram rudman rudman insurances to keep feet to the fire and control spending was the stuff of brilliance. we veered way off this course. republicans have democrats have, and he's back here to say i told you so! he's not doing that. senator honored to have you. >> thank you neil. neil: here we be senator. i could have timed this you know, with a stopwatch, that as soon as problems developed in baltimore people would come out and say it's money, we're not spending enough money. what do you think of that? >> the old story, crisis is a terrible thing to waste. if you can use a crisis as an opportunity to get more government programs, people are

going to do it. but the bottom line is and i can't imagine anybody no matter what their persuasion is confused. baltimore is a city where you've got massive government impact. you've had huge federal subsidies. the problem there is not lack of government programs. the problem may be too many of them and not enough private sector jobs. not enough economic opportunity, and economic opportunity doesn't come from a government program. best housing program, the best nutrition program. the best education program is a private job. neil: we should stress that in case you mentioned housing in terms of subsidized housing on a per capita basis. my point is again how do you counter that? republicans are always seem to be on defense on this issue, that they look heartless by not

espousing government to the rescue. what do you say? >> look, here's the thing. i think these government programs often hurt the very people that they're supposed to help. neil: i agree. >> when my mama was working in a cotton mill for $8 a week and had two little children and no husband. if we had the welfare programs that we have now, while she would have denied to her dying day she would have taken it and everybody she would have known would be taking it people would have made fun of her for not taking it. if the programs existed then, i wouldn't be sitting here now. neil: we'd wonder whatever happened to you. in all seriousness. >> it only hurts people. if you care about people welfare is not enough. neil: but you know republicans aren't sending that signal senator. i remember what you and senator rudman are trying to do to stick to budgetary guideline,

stick to good times and bad times. look at trillions added to the debt, have we done what you've been espousing, we wouldn't be in the mess. here we are now. i don't notice anyone talking about a gram-rudman bill. spending limits is getting worse. >> spending money is popular it's easy to have a government program all you have to do is make up one. neil: why are running afraid to do what you did decades ago? >> well, i think some republicans, paul ryan a very effective in explaining that government is not the answer. money is not a substitute for ideas. neil: look what happens when they want to curtail as you mentioned, senator the growth in the entitlements. all of a sudden they're heartless and throwing granny off a cliff? >> well it's not going to be

-- not being compassionate to let the programs go broke. it's not being compassionate to let the country go broke, and as i was mentioning to you that just paying interest at the historic level interest rates have been in the post war period, we'll create the cause of the growth in obama debt an expenditure now above the level we're spending now on interest payments, as large as medicare. neil: zero percent interest rates. carrying all this debt. >> well listen the debt the interest can't stay at zero and when you double the debt, you've got to service it and service it -- . >> i think president obama dodges that bullet. he'll be out of office. >> he'll be out of office. it's clear now that interest rates aren't going up before obama leaves office because the economy is not going to get

strong enough to create demand pressures to drive up interest rates and the federal reserve bank is not going to raise interest rates. neil: what do republicans do? they're in this environment where they're told every time you want to cut something you are vilified in the press. but by and large, they were elected to a majority in the senate, and a bigger majority in the house promising that they would get the spending under control. but the latest deal is more a shell game in the opening years than it is a 10-year budget deal. neil: well i think the latest budget deal is a movement in the right direction. they are beginning to talk about entitlement reform and controlling spending. neil: but they've given up doing it with obama. they've given up? >> they've given it up largely, but, look the way to deal with the thing politically in my opinion is to do what's right. somehow, the public has a way of cutting through the politics

and the rhetoric and judging things based on merit. in the long run doing what is right i believe pays off politically. you know, i remember many political meetings i was in in congress where, people would say we've got a perception problem. i would always say guys we don't have a reception problem we have a reality problem. if you fix the reality ultimately people are not stupid. ultimately people figure it out. neil: those are the days when they were able to reach across aisle and make deals. ronald reagan famously made deals with tip o'neill. those days are gone i could be wrong. i want to briefly turn your attention to the republican presidential contest. a lot of people in there. a lot of people who have a lot of money. five or six could have 20 million dollars or more. you had that proverbial mother's milk of politics as you famously said it isn't the great elixir but it does help. do you envision senator, we

could have a situation where you have a number of well-healed or well-financially supported candidates you get on cleveland and you don't have a nominee? >> no, i don't think that will happen. neil: really? >> i think it's good that money is not going to determine the nomination this time. it looks like enough candidates have enough money they're going to get to del their story. i think it will narrow it down. i think we will end up with a very competitive primary and i think that tends to create good candidates. >> who do you like? >> well, to some degree, i like each them. my heart is closer to rubio. neil: interesting. john mccain said the same thing and governor walker he did not say that about rand paul. he said of all the entrants he said he would be the worst when it came to foreign policy. >> the thing about walker that is appealing they all want to

fight our values, walk or run for our values in wisconsin. walker is tough, and walker has shown he can get something done. how is he going to be as a candidate? let me tell you, running for president is a very hard job, but i always say as of today, the two of them are -- one is close to my heart the circuit very appealing as somebody who has shown that they can win for our values. i tell you one other thing, whoever is president after barack obama leaves is going to have a lot of problems and we got to have somebody willing to change things, just status quo after barack obama's not going to work. you've got to have somebody who is as committed to changing things as barack obama was. and who's as effective as he was at changing things. barack obama transformed america. you may like what he did, you may not. neil: exactly right. >> he has been a transformative

president. the reason is he knows what he wants to do, he's committed to it whether it's popular and even whether it works because the economy is not doing well now. we're not having an average recovery by any stretch of the imagination. he shows no indication of being willing to change. now what does that say? his values, what he's for, what he wants to achieve is more important to him than the economy. neil: but you're right. he's going to be a consequential figure when all is said and done. >> that's true. neil: senator a pleasure. >> thank you neil. neil: phil gramm, he changed history. when i said the grand ol' party is hanging on like a cheap suit. confirmation it might be worse than i thought. after this.

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budget dive. is the party that allowed for the sequester cuts is trying to end the cuts? quietly, sneakily i think clearly. republican senator mike lee has been watching all this furiously. he's consistent on these issues, and senator, i'm looking at your republican colleagues no offense they seem to be all folding on this and i'm worried about whether they forgot what the message of the election was? >> sadly this isn't all that surprising. s at very disappointing, this is exactly why i voted against the budget control act in 2011 because i predicted at that time what we're now seeing which is that the cuts that

they were trying to make to defense were simply unsustainable. they were completely unrealistic. so look, there is a way to fix this, but we need to find a way to pay for it. this is consistent with the reason why -- neil: they're not, they kind of have this view we're not going to do what the sequestration cuts were ironed out to be. we referred to the period. i was with you where you are now. this is the sort of -- bet for all of congress, backup back bone for someone to forcibly agree to something where the cuts would happen if you couldn't agree what the cuts should be. it sounds to me, i could be wrong sir, sounds republicans are finding some vague commitment to entitlement or tax reform goals that will meet those numbers but haven't spelled it out. >> as long as we keep moving in that direction, that will be a good thing. if we eventually get there that will be a great thing. neil: you know, senator no offense to you, and i admire

you because you are consistent on the issues and you hold your party's feet to the fire. sounds like one of my diet promises like next week i'm going to start, week after that i'm really going to get going on the salads. week after that, i'm mr. yogurt man more senator, it doesn't happen. >> sometime it does. this is exactly why i filed the paggo amendment to the doc fix bill. there are ways that -- neil: what does that say? republicans control the senate. you can't even agree on that. >> the fact is we should. it gives us another opportunity to do the right thing. the next time we have an important decision like this to make. the fact is we're in a world of hurt, accumulating debt at a rate that makes it unsustainable as phil gramm explains in his recent conversation with you, the minute that our interest rate

on our national debt starts to return to historical averages all of this is going to become completely unmanageable. neil: you have a record on that. you know that i know that democrats and republicans know that when it comes to stepping up to the plate and risking a lot of flack you know, with the exception of a few. it's not done. >> all these are reasons why we need to focus on those things that are uniquely unavoidably national issues things like national defense. that's why it's important to continue to fund defense at appropriate levels and levels sufficient. neil: you don't think 7 billion dollars a year is enough for defense? can't we reallocate the budget. it is a lot. >> we ought to be able to allocate the money going into the government right now. find ways to offset that. as long as i'm here, i'm going to fight to do exactly that. neil: i'm worried we're going to find a shell game around. this republicans rally around

this. do they appear to be addressing the problem but punting on the problem. tell me i'm wrong. >> well i hope you are wrong, and i'm going to work as hard as i can to prove you wrong. i can't prove to you right now we're going to do the right thing. i know if we don't try, we have no chance of getting there, and so that's why it's helpful to have you bringing this to the attention of the american people of your viewers out there concerned about this issue. they ought to be contacting their congressman and senators and especially republicans saying you ran on this you told the american people if you give us a chance to govern we will put ourselves on the path towards sustainability, and that's what the american people expect, and the more we can hear that from voters, the better off we're going to be. neil: senator, good seeing you, senator mike lee of the good state of utah. we shall see, senator. there's a lot of rap back and forth whether republicans are unfolding on spending. to a guy who is running as

president bernie sanders in the race. the media counting him out. this guy encountered the same thing he's too outside petri dishtor president. i don't think they call him nuts. mark everson is run father republican presidential nomination. you know the drill. they're saying you don't have a chance, you don't have a chance. how do you get past that whole bias? >> look, first, let me say i applaud sanders getting in the race. you can't just have a coronation. that's not good for the party system or the country. what's happening with republicans, that's what should be happening. we're having a vigorous contest about the future of the party and the future of the country. i think that creates an opportunity. i do not agree with the traditional wisdom that says that there are two sides and very little contested ground in the middle. i think that the electorate is very unsettled frankly, and

what that does do is creates opportunity for people torques -- to emerge your viewers can go to mark for america.com and see it all. but i also think that along with that wall street can't buy this election neil. people have been raising millions of dollars. i've been in iowa, gotten an office in iowa. i'll be at lynn county's lincoln dinner and those folks jealously guard their own roll. neil: you have to pay when you go to that. >> i hope not, i will be a speaker. i was in warren county and i you in the five bucks a couple weeks ago. neil: i'm wondering when you look at this i'm not saying voters are stupid many are impressionable is what the mainstream media tells them, after the baltimore riots hearing a lot about well the problem is we haven't given

baltimore enough money, given inner city projects enough money so they want to throw money at it. and looked into the stats, commissioner and found baltimore gets more money than any other city on a per student basis except new york city. and neither as i said is on fire when it comes to test scores. so money isn't the answer, but yet people are told we've got more money, and republicans and guys like you say we've got to dial it back. >> i agree money is not the answer, it's a complicated set of questions. i ran the workforce system in indiana. one thing we did. you have the crime ridden communities we put in a program. i suggested to governor daniels, mitch daniels, and we put it in where we took qualifying people out of prison system, not everybody. not even 10%, but these were folks who had no gang record, they had a clean record in the system, and they were in the work program so the educational

programs and helped them get jobs. it's very clear, if you get jobs for folks that can help change a community. we can't go on -- >> the government can't provide it. >> exactly right. neil: steny hoyer and the president say we've got to get more and more. >> we're not going to spend our way out of the problem. that's why the segments you had i grow wholeheartedly. we've got to keep the fiscal house in order. we've come down now. the deficits are about 2.5% of gdp but it won't last. neil: no, and any deficit adds to the debt. >> exactly. neil: and 0% interest rate, imagine if they take up just a little bit. >> i'm all for bold tax reform where we can change the system and get off the income tax, bring down the rate for those who remain and the corporations, marry it up with entitlement reform to keep this on a sustainable level. neil: keep people in the room and keep talking about it. >> the president has to lead.

this president does not want to lead about deficit reduction it's not a priority of his. his priorities are the health care, and wanted to be a president of consequence he is on the domestic front and now trying to do, it trying to be like -- he won't say, it trying to be like nixon in iran. it's unwise. neil: we'll watch closely. i've always said mark you have the right to be heard. you should be heard just like any of them. and the fact you know what you're talk about. and the fact that you've gotten prisoner's jobs and inmates jobs would make you perfect for washington. mark everson, thank you very much. so much for that white house olive branch rather than reach out to republicans, the president refusing to meet with any republican. why would 20 months ago the president playing the same old games and say it is not too late to change the games and get serious. after all the president -- if the grinch can do it, you

can do it, too.

. neil: all right, mr. president, this is for you, time to pull a scrooge and repent or grinch and find out who helped whoville. it is never too late to change for real, to change for the good. i know i know, you figure you only have about 20 months left in office. why bother trying to do the right thing in office. you're thinking the other side won't budge why should you? i think the grinch in his heart grew two sizes i'm told. who got around to upon hadding tiny tim, bare with me sir. two examples how it is never too late to take tiny steps like skipping meetings like the one you had today with only democrats on the hill. really, again? next time, call for one with republicans on the hill, then democrats and republicans on

the hill. prove to them you're not the same old selfish government grinch, prove your heart is bigger and soul is wiser. prove have you changed your base and no longer your way, prove to them you are open to not just your ideas their ideas prove to them you've seen the ghost of christmas future and prove to them you will be judged by historians of the future. prove this them you might not have much time to change history. 20 months is plenty of time to do something historic. prove to them us and you are not going to continue doing the same old thing and expect different results. prove to them and us you want different results, unlike the scrooge it won't just be tiny tim and the grinch and whoville thanking you. i agree the whovilles they were weird. if you pull this off, mr. president, you'll have all of america thanking you. have you nothing to lose reaching out. you just have to move like the charles dickens because time is

running out. i know what you're saying back home. neil is actually using fictional characters to make a serious point. yes, i am. john latham agrees with me jessica tarlov wonders if i completely lost it. your argument is a sound one. republicans have to play the game, too. >> i think the president has to go first and has to be met. mitch mcconnell and john boehner both said they are more interested than ever in meeting the president you. >> will say that the president is behaving like scrooge and the grinch. >> i know you want me to use fictional characters. i may be thinking it deep down, but what i'm going to say -- neil: you are going to say darth vader. >> not going to go with that comparison. i think that they can definitely meet half way. there are lots of opportunities for policy cooperation going forward and 20 months is a long time. neil: that's my point layfield. 20 months is a significant amount of time to get stuff done. if you chalk it off, i think it

is cynical what do you think? >> i think it's possible yeah jessica is right plenty of blame to go around. the republicans are awful. but the president has not chosen to reach tout them at all. bill clinton did reach out to republicans reagan to democrats. the deck is stacked against the president. they have accomplished very little. the exception was reagan in 86 we had a tax reform to get passed. neil: you are very cynical. by that measure the grinch would have never reached tout whoville. >> exactly. i think it's stacked against him. he wants to create a legacy, that is the chance here. he wants to do something in the second term. you see him with cuba, immigration that is the opportunity he has to get this economy going and reach out to the republicans. there is a chance, i think it's a small one. neil: did he ruin it today jess with just having democrats.

>> that was an alert today. we know how the club works. neil: it's got to stop. >> i absolutely agree it's got to stop. neil: you're young, i want the country to be better for you. >> thank you. i want that too. neil: i want his heart to grow two sizes. >> the news that bernie sanders is hopping in the race. there are encouraging things that will push the debate forward and hope we meet on a lot of. we brought up the economy there are ways we can work on that. get a pro-growth agenda going. there's a lot that can be done. the republicans will follow and it will be bliss. neil: and it will be bliss. john, you think it will happen? >> no. unfortunately i don't. neil: you're a mean one, mr. layfield. all right, all right. >> i wish it would. i don't think it will. neil: tomorrow i talk about the influence of "star wars" on corporate culture. in the meantime i think the guy ronald reagan took to the woodshed said we're in the

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. neil: remember david stockman's day of reckoning? it's arrived. the federal reserve's refusal to hike interest rates seals it we're doomed. the economy, the markets the financial charade, everything, doomed. quoting from his blog -- to market watchers keith fitzgerald and lindsey whether the man ronald reagan took to the woodshed for warning about deficits is right to warn us about a fed party that cannot continue. lindsey, what do you think? >> well i think can you make

the argument that this continued fed accommodation is concerning manipulation a tremendous amount of capital going to increasingly riskier assets so investors analysts, there may be concern we are creating unsustainable asset bubble in the equity markets. look at the stock market the implication is growing 4, 5%, not .2 as we saw in yesterday's first quarter gdp report. it's disingenuous to call the fed the pied piper or put the blame on the federal reserve. they are outmanipulating interest rates. the question is why is the fed forced to hold low interest rates at such a prolonged level for such a prolonged period of time. neil: keith, bottom line, it's too late. he's it a saying it's too late and argue over the details of this. lindsey brilliantly did, game over, we're going to die. not going to die.

>> the fed manipulated this stuff since it created. i could argue with a straight face week don't need a fed that the point. neil: don't get wacky on me now. >> i don't want to go there. the bottom line is there's inflation everywhere except where the fed is looking traders, if the fed is backed in the corners, it's the policies of its own doing. neil: lindsey he is saying that we never got serious about this, we never attempted to get on top of this washington is failing on the fiscal side, the fed on the monetary side we're all oblivious and the chickens are coming home to roost. what say you? >> well the fed can only raise interest rates if the economy begins to gain momentment and you economy is only begin to gain momentum if we see pro business policies out of the government. we're seeing rising health care costs increased regulation tax uncertainty, and that's stunting investments and growth and forcing the fed to keep

interest rates at the near zero level. until we see the growth we're continued to sit here well beyond 2015 well into 016. neil: keith thinking back in history and i think of the trillions of debt leader is it too late? >> well, here's the thing, neil, is it too late as a politician? you can answer, yes, there is no adult supervision in washington for either party. is it too late as an investor? no it's not. if that's the hand you're dealt, play the cards. stick with must have investments. neil: like what anti-radiation equipment. >> certain biopharma certain energy. regardless what the central banks are going to do, those are companies that are not going to disappear any time soon. as an investor i take hope with the fact the fed is out of

control. if the fed's out of control ceos are in control. neil: that's good. lindsey how are you playing armageddon? >> i certainly think it's well within our bounds to control the federal government and get the debt to gdp ratio back in line. we need political guidance we need political leaders that will step up and take that risk. neil: good luck with that one. >> exactly. the american people don't want that. the american people want to continue to be on the government's dole, and so we so v to change the mentality. >> i don't know about that, lindsey. neil: unless i run i mean -- as if i don't have enough to do. i guess it's time for me to save the world again. guys seriously. thank you, both. states are using obamacare funds for everything but obamacare? a watchdog warning you need hear for yourself. it's going to make you sick.

. >> what did we do with the five billion? where is it. federal watchdog warning states may be misusing the five million smackers to jump-start the local obamacare exchanges. john sununu says that is the problem with giving that much money to uncle sam. rarely does it go to the intended target. what happened here, governor? what we know now is in order to get the exchanges up and running, the government doled out millions of dollars. in the case of washington state, rhode island some other they're not getting a fraction of the money back, and those exchanges aren't close to being up to speed. uh-oh. >> well, it's typically what happens when you have a bad program implemented without people knowing what they're doing. and the government tried to write a piece of legislation built in with all kinds of

ambiguities to entice people to accept it. they put the word implementation in there as a justifiable reason for spending and now they're telling the states that operation is not part of implementation, and the states are getting burned badly because they're all falling about 30% short on the number of enrollees. a lot of the fees they were supposed to get covering their expenses was dependent on the number of enrollees, and so they're using that implementation money for operation. neil: all right, the 5 billion dollars is a lot of money to get squandered away. we're reminded at a time when all the other costs associated with it are spiraling out of control. we have the drug companies, insurance companies jack up costs that wasn't supposed to happen either. how do republicans reverse that? say the supreme court doesn't rule against subsidies what do republicans do then? >> look you got to win the presidency give the

republicans a house and the season. they will replace obamacare with a plan that deals with the real needs instead of this kind of almost federal supported health care across the board that obamacare is. neil: what happens governor, it's a worthy goal, this has gotten to be a monstrosity. democrats are going to turn around and say this thing false of its own weight, whether it's a supreme court decision or something else republicans try to do minus the court. they're going to say nice job gop, you left millions without insurance. >> millions are still without insurance! remember, this was supposed to take care of 47 million uninsured. and now they're bragging about taking care of 3.6! this is the most insane program with the more bragging about less done than any other program that a misguided federal government has ever put together. neil: so to the point about those who did get it for

whatever reason and however few, and liberals throw this back in your face and say well now the poor guys are without insurance. thank you, republicans. what do republicans do? >> look, for 3.6 million people, we'll pick up their insurance and kill the rest of the program. it will still be ten times cheaper. neil: all right, there is that solution. governor, good seeing you again thank you. >> thank you, take care neil. neil: fox biz alert, apple stock slammed because of something we warned. and i'm telling you this could just be the start. when diet and exercise aren't enough, adding crestor lowers bad cholesterol up to 55%. crestor is not for people with liver disease or women who are nursing, pregnant, or may become pregnant. tell your doctor all medicines you take. call your doctor if you have muscle pain or weakness, feel unusually tired have loss of appetite, upper belly pain, dark urine or yellowing of skin or eyes. these could be signs of serious side effects. i'm down with crestor! make your move. ask your doctor about crestor.

still waiting for yours listen up because you might have to wait a little longer. a defective part of the watch is causing more shipping delays

for customers. to tech watcher extraordinaire on what's going on. what is going on here? >> how's it going, neil? what happened is one of their suppliers in china realized is making a faulty tapping device inside the iwatch. what that is, it taps your wrist to alert you to any notifications. now they've switched all their manufacturing to another supplier, but that supplier is not ready to ramp up quite yet. we're going to see longer delays for the watch to come out to people waiting quite a long time for apple to release the watch. neil: i should disclose i have an apple watch myself i always they the was getting electrocuted when that was going on. i get that vibration you are not standing enough or moving enough, whatever. but is it that big a deal? can't they move on with this or people saying the vibrating thing isn't working or i'm not going buy it.

it must be serious enough for them to say go slow. >> i think the problem is. people that are apple lovers are going to wait for the watch regardless. they're not going to lose those people. it makes apple look bad. they haven't always had the best rollouts with products. neil: this is the worst rollout. i'm an apple shareholder, have been for many, many years, they couldn't botch this enough the way they're doing it, you know? >> that's true. the iphone 4, remember you couldn't hold it a certain way. neil: that's right, the antenna gate. >> the antenna gate. it's remind me a little bit of that. they're rushing it out, they should have done more qc before pushing it out to consumers. neil: it is what it is. >> it is what it is. neil: many people with wrist tattoos are just discovering that the apple won't work with them. in other words the apple watch sensors the stuff over your wrist, it's not registering.

cassie? >> i don't know, i don't know if they were doing at apple. they must not have been testing it on people with tattoos. i guess people at apple don't have tattoos on the wrist. neil: they could have run it by me. >> you have a tattoo neil? neil: not really. >> there is an l.e.d. light within the watch that can watch your blood flow, and it knows your heart rate and that kind of thing, what they're finding is if you have a dark tattoo on your wrist, it's having trouble reading that heart rate. some people reporting that the watch locks up so it doesn't realize it's on your wrist if you have a dark tattoo. so if you bought the watch and you waited all this time and you have a tattoo you may be disappointed. they're going to have to figure it out. neil: imagine if the thing isn't vibrating. double jeopardy there. you think they're going to get past all this stuff? >> they always do. it's apple. the bottom line is there's a lot of really loyal followers and they're going to wait, and

i was talking to somebody here, i said does it take another year, would you wait to get it? he said yeah, i will. neil: you think it's much ado about nothing? >> if you look at market today everything is down. if you really were -- if people want to buy apple stock they're going to buy on the dip. if it's really falling because of this, it's silly, short-term. i doubt this is going to have a long-term effect on apple or the stock. neil: all the sellers, it's odd, they have the tattoos. it's weird. cassie, thank you very much. >> good to see you, neil. neil: to love it is to stream it. the guy who used to say more streaming for you. after this. >> you know what? has anybody told you, you look exactly like al pacino. you know "scent of a woman"? >> very good very good. you know what? no soup for you! come back, one year!

♪ ♪ flo: hey, big guy. i heard you lost a close one today. look, jamie, maybe we weren't the lowest rate this time. but when you show people their progressive direct rate and our competitors' rates you can't win them all. the important part is, you helped them save. thanks, flo. okay, let's go get you an ice cream cone, champ. with sprinkles? sprinkles are for winners. i understand.

♪ muck. neil: well it's a show about nothing still making a whole lot of cash. hulu winning the streaming rights to seinfeld for a deal close to $180 million. co-creators jerry seinfeld larry david, they're going to make out pretty well, but what about this one? >> excuse me, i think you forgot my bread. >> $2 extra. >> the bread in front of me is extra. >> you want bread? $3. >> what? >> no soup for you! [laughter] neil: larry thomas who famously played that memorable character. what is the soup special today? >> today it would be hulu soup but no hulu for you! [laughter] how do you like that neil? neil: that's very good. >> are you part of this? do you get any of this dough? >> you know, i have to say at this moment i'm not exactly sure.

it's residuals are really weird, no actor knows why, what the percentages are. i just got my quarterly seinfeld check this morning for $22.56. but they break it down, and the dvd part of it is 0.00 which means the dvd part of our deal is not very good -- neil: larry, you're being robbed. you are one of the most iconic memorable characters in comedic television history. i would go right to seinfeld and say, come on, buddy share the wealth. you don't need it. [laughter] >> yeah, you know, it really depends -- there are people that are involved that signed some kind of a royalty deal. i would say probably the other three leads on the show. but the rest of the acting pool just gets sag residuals and that's what they are. we probably have some kind of deal for the new media such as hulu, i have no idea -- neil: you're no dummy, larry. you've brilliantly leveraged off that character and have a fine

career going, so i'm not meaning to limit your success or give people the notion you're not doing okay. it's amazing to me a couple of decades after this i'm sure you're recognized still everywhere, and you're still an endearing and enduring figure. that's pretty wild. >> yeah, thank you. it's actually hotter than ever right now. i guess that's the beauty of a show like seinfeld, is it just gets more popular all the time. you know, one of the things that i'm jazzed about about the hulu thing is it'll be open now to more young people because nothing cracks me up than a group of 13-year-olds telling me how awesome seinfeld is. neil: that's right. >> i'm like don't you guys watch it and go use your cell phone, you did yacht google it! they all say, no man we know it's retro. they didn't have that stuff back then. [laughter] that gets to me every time. neil: a whole new generation is discovering you and i'm glad they are. larry thomas the soup nazi, and

much, much more. all right, when we look at developments tomorrow, among the things we'll be focusing on, the economy the markets and whether streaming will ever get anyone buying. "strange inheritance" now. ♪ ♪ >> was he a lifelong hoarder or a shrewd collector? the answer lies inside this salvage yard filled with rusty old cars. jamie: did you know how many cars grandpa had? >> the locals say it's a worthless eyesore. his grandson calls it an iron gold mine. >> 500 now 6 -- >> which is the truth? we're about to find out. >> sold it. ♪ ♪ ♪ ♪ jamie: i'm jamie colby, and i'm just driving into enid, oklahoma, which