tv Cavuto on Business FOX Business June 7, 2015 2:30am-3:01am EDT
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>> the sevan curry. >> love curry. >> i can't watch the triple crown. good for bourbon. it's a jewel. >> who needs to wait for the republican prooirmimary debate. stand on one side of the stage and say they'll cut people's social security and medicaid benefits after they paid on them for 50 years of work and i'm the only other one on the side of the stage saying that i won't. i believe the government ought to honor its promises to people. >> i'm to. campaigning on fundamental reform to preserve entitlements. we should gradually increase the retirement age. >> if we're going to fix it we need to start working on it now and progressively raise the retirement age.
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>> for those including my age and younger we'll have to talk about reforms. we'll have specifics on that. >> that's a good 15 seconds there without me. yeah. did i just -- did i just uncover the secret to 2016. hi everyone back to me neil cavuto and to our panel. all right. ben, you kind of agree with mike huckabee here that hands off social security. leave it alone. >> absolutely. the third rail of american politics for a reason. don't touch it. we've got enough problems as republicans running against a powerfully entrenched virtual endowment like hillary. we've got a lot of great issues national security issues freedom of speech issues. we've got a lot of great issues. let's not touch this 21. leave it alone. it will go away. >> i can see leaving us out of it ben, because we don't want
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to do anything to rock the boat for us. but for degan, i'm all for it for her generation. go for it. i'm just thinking and i agree with ben, the big picture, that don't scare people but by the same token i know where this train is going. and i think it's an unsustainable route. do you think that huckabee is being a little disingenuous to say there are no problems? >> yes. absolutely. because people paid in to social security and medicare. we understand that. but seniors are taking out way more than they paid in. we're talking about the difference between paid in and what needs to be paid out or the obligations, it's trillsions of dollars. >> let us get it and why don't you find another way? >> i'm not saying take money away from people who are 75 years old, but there are households who are getting -- >> let's say they are in their 50s. >> that is not that old. >> thank you. >> there are people who are getting hundreds of thousands of
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dollars more in benefits -- >> can we cut the mike. charlie, what do you think? >> social security is a positive the way it's -- >> are you laughing at my ponzi scheme reference? >> no i'm laughing -- i'm laughing at neil's joke. i got it. >> it's a ponzi scheme. everybody knows that. >> why do you have to drag our people into it? >> charles ponzi, that's right. it's amazing. okay. what do you want me to say? but, listen but ben's absolutely right. there are so many issues. it's not worth doing. it's a huge distraction, it will destroy the republican party in this election. >> adam why do you disagree? >> because -- >> you hate old people? >> -- at the risk i sound like i'm sucking up to you, neil you got the guys behaving like statesmen, you had cruz and bush and walker addressing a serious topic in a prudent and sophisticated way and they're absolutely right. of course, this is something that has to be dealt with. it has to be dealt with
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prudently and gradually. the interesting thing, neil will be to see if these conversations do happen in the primaries. i doubt it. i really doubt it. >> i think a bigger problem would be growing the economy, though. this thing kind of takes care of it -- >> you do a lot of that if the economy is booming it's less of an issue. but charles? >> obviously ben's right in terms of politics. no group comes out to vote more than -- more than the people getting these benefits and they always kill you no matter what. but it is an economic problem. it won't go away. and whoever will come up -- whoever has the nerve to come up with a cohesive plan. chris christie's idea of giving people -- i mean governor huckabee talking about giving people a flat payment. that's nuts. going to spend it all. then what? i think chris christie trying to punish people making 80 grand is nuts. it should be voluntary. it should be a saving account that you can pass on to your heirs. it should be means tested. >> oh, no. >> i think so. >> you should be able to invest it in the stock market in the top 100 companies if you want because the promise of 8% by
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this government is why this ponzi scheme has fallen apart. >> this is the cart before the horse. i'm telling you that social security becomes less of a problem when the economy is growing and that should be what every republican is focused on. i will say this -- >> medicare's a bigger problem. medicare's dealing with people's health it's not just money. >> here's the problem with putting it in the stock market wrx over 30 years the stock market does really good and five-year gaps where it does lousy and people lose all their money. >> exactly. exactly. >> let me say one thing about that. >> it's reality. >> if you can imagine all the money paid into social security it would have mitigated the down side. you wouldn't panic if you had the stocks. the market goes down when there's more sellers than buyers. >> right. >> but if social security is holding the stock -- >> the hedge fund charles. >> what did you say? >> charles, that is not the retail investors moving the stock market down. >> i'm talking about when it's panicked and whole selling by a
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lot of people. >> it is not -- i served -- i love you, charles, like a brother, but i will tell you it's not the retailer investor bailing out the stock market and moving it down. >> i'm saying of all the money we put into social security if that was healedolding the top 100 stocks -- >> it would have mitigated it? >> the dow wouldn't have gone to 2,000. >> here's my campaign platform. let the social security trust fund be exhausted. let the medicare trust fund be exhausted. >> exhausted? >> the trustees say that medicare the fund would be depleted in 18 years roughly. then you get 75 cents on the dollar in benefits. just let it happen. let it happen. don't do anything. >> why shouldn't people get more than they put in? >> great idea. >> get more that's my point. my point -- >> i would say -- >> let me just say -- >> sure sorry. >>-- my point is that you can do
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nothing, but the nothing leads to a cut in benefits will happen immediately. >> ben is sticking his head in the sand? >> yes. >> adam? >> i understand -- i understand the point. i'm just saying -- >> you better because she'll rip your head off. go ahead. >> she and i go way back right, dave? >> i'll still rip your head off. >> what i'm saying although she's right, i admired the answers that cruz and walker and bush gave to neil which is that yeah, that's one way of doing it. and another way of doing it is to try to have a plan over the 17 years to deal with it gradually and prudently. >> i agree with adam only because -- >> you admire it because it will kill the republicans? >> no. >> i admire it ben, because adam quoted my exclusive interviews with each one presidential candidate but -- >> i understand. >> come on charlie, you're very good at this.
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you know -- you know i mean that when they talk about reforming entitlements this is part and parcel the same issue. you're quite right, ben is right it is the political third rail and hell to anyone that dare tries it but someone has to eventually try it. >> it's not as important as other issues and i think that's what we're missing here. reform the tax code. >> we'll not get to it. >> this is like a land mine for the republican party that we don't even have to deal with if we deal with getting the economy fixed. >> it's like a land mine that you know where it is and you deliberately jump on it. >> jump the other way. >> but economically it's got to be dealt with sooner or later. >> later. >> the disability trust fund will be depleted by the end of next year. >> you are so right. >> you are a half empty glass person you are just bitter because it stands to good reason that we're going to get the social security before it goes kablooey and i think you should deal with it and you have a few more years to make something of your career get some dinero and
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make it a day. >> i'm going to come live in the back of one of your cars in your garage. >> like that would be new for you. >> oh, oh, oh, oh. >> i -- >> in the back of the rolls-royce. >> i kid. i kid. meanwhile, dave has an entirely different debate in store. >> the president says we're the most respected country in the world because of his respect around the world. is he right? we report and you decide. fake bombs go through when the tas fails security tests 96% of the time. maybe it's time to privatize? we'll see you at the top of the hour. >> i have a feeling with this obama debate is going to end up. but in the meantime first this violent crime spiking. spiking. after all that police bashing. we look at it next, so do you. hard
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americans. horatio alger members embody the american dream and ensure it for future generations through generous scholarship and mentorship programs. to meet this network of american dreamers, visit horatioalger.org all right. take a look at this surveillance video. i was dicey about using it but it tells you a lot because this is not from baltimore or ferguson in the middle of the riot but this is new york city my friend. looters taking pretty much whatever they wanted from a deli then attacking a worker for trying to stop them. now, this comes as crime is spiking across several major cities in america. to charles, he thinks he knows why. what's going on? >> there's been a war on the police for a few years now but obviously in the last couple months in the last year it's gone -- it's gone -- it's gotten so much bigger because the players in it. you can blame a little bit on
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president obama, local leaders, mayor de blasio the mayor of baltimore and more or less they've green lighted they have made a lot of these people who instigated these incidents the victims so why not be attracted to this? if you are a fence and you kind of don't know where to turn and you have gotten a green light to go and loot a store like this this is exactly what happens. my message to people out there, i can tell you right now, if you think the police are unfair, if you think it's bad to have rogue police okay and by the way, i think 99% of them or more are great people and doing their jobs try not having any police. because you live in a neighborhood like that and your life is hell. >> but isn't that equally dangerous for the police for fear of whatever fear of litigation or thrown in jail, to stop doing their job? >> right. and that's what's going on. comrade bill de blasio our wonderful mayor of new york city ran on a platform of relentlessly attacking police saying that ray kelly one of the most decent law enforcement
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people in the country is basically running a racist organization. this is how he ran. he set the tone for all this. >> but it's the police answer to that to sort of hold back. >> wouldn't you? >> i don't know. dagen, what do you think? isn't that the -- isn't that scary if they just cease and desist? >> it's really frightening. you have a situation where the cops are the ones who are handcuffed and the criminals are emboldened now. you have the street stops in new york dropping. well murders are up 20% in the first five months of this year and you're going to see that happen time and again. and i don't know what's going to stop it because cops are working in fear of being accused and being arrested for using too much force. >> ben stinel? >> it's an outrage. the police are the army that protects us from the force of lawlessness, violence fear. they are our heroes. they are working every day and at war for us and the media and the politicians are attacking them. the horrifying race baiters like
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al sharpton are attacking them. they are in fear all the time that if they do their jobs properly the way they were trained to do to protect us that they're going to be punished and hurt very very badly. it's a terrifying situation. it's almost as if we were attacking the u.s. army during world war ii for being too hard -- well it's not the same as that. we should not be attacking the army that is protecting us. they are our heroes through and through. >> adam? >> i think we're running the risk of dangerously confusing cause and effect here. everything ben said is true. every -- the police are wonderful, and most of them are fantastic. that doesn't negate the fact that there have been some real problems in multiple jurisdictions where the people who are there to serve and protect us are not doing that. and so the police should be on guard and should be -- should -- >> like think of ferguson? what do you think of ferguson? >> all i'm saying -- >> let me finish my point.
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>> all i'm saying is is that to say that a clamp -- putting the spotlight on police leads to the increase in crime that we're seeing in some places -- >> of course it does. >> here's what you -- >> what you and a lot of liberals leave out it's one thing for al sharpton to go around and saying it i'm not supporting al sharpton for doing what he does but when you have mainstream democratic politicians, president obama, comrade bill de blasio relent relentlessly attacking cops and giving creed exto the lies they are all bad -- >> by the way, that's the problem, charlie. charlie, hold on. >> ferguson was a lie. >> charlie, that's the problem. >> and yet everybody complains that's part of the problem. >> listen charlie, you're a reasonable guy and you just said that the accusations are that -- that all the police are racist. no one said that. no one ever said that. >> oh, really? >> comrade bill de blasio was running on a platform that the
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most diverse police departments, one of the most diverse police departments in the country, new york city was a racist organization that they just want to go out and stop black and hispanic kids on the streets and that's what he ran on. >> and, dagen, i'll end with you on this. is there a sense, though, that getting back to the money matters here that with the president indicating and the attorney general looking at not providing weapons, military-type weapons, all of that for police departments, also looking at the budgets and the priorities and what they're spending the money on that that is kind of putting a chilling effect on police units, even with their budgets? >> very much so. >> even with their priorities and that is reining them in and that is by design. >> i totally agree with you. what they do need to spend money on and you can disagree with me if you want to are body cameras. it protects the officer, and it protects the people. >> body cameras we could see it from six different angles and settle it once and for all.
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>> the cop in south carolina it was a cell phone video, he shot this man and he shouldn't have shot him, but it works in the favor of police officers and maybe they can do their jobs and not worrying about being accused of something they didn't do. >> you talk to a lot of police commissioners now they are. guys thank you very much. in the meantime you don't think airfares could fly any
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all right, anyway getting ready to get wet the more you fly. regulators set to crack down on plane admissions. they add a surcharge on your ticket. absolutely. airfares will go up. there's no two ways about it. it's unfortunate because flying is very reasonable. and it hits lower income americans even more. i don't know how long it will be but it will come. >> i don't now, it's undebatable, when you raise a tax it gets passed to the
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consumer. it's annoying. >> it is annoying. >> and one will start. and the figure goes higher. that's my big concern. and this argument that we can go after airplanes now. >> well guys you're not going after airplanes. we flyers will pay the tax. i fly only first class. it's unbelievably expensive already. >> why won't she allow you? >> because she's afraid some young cute fan will steal me away from her. >> don't i know that feeling. >> it is hot girls flying first class. >> stop. >> could you rescue this? what do you think of this?
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>> there's a tough task there. >> it's hard to know where to go from there, man. the engines are becoming far more fuel efficient. so in that sense the airlines will be able to save money and maybe meet the standards without that coming along. i'm sorry i had to bring the conversation to something as boring as that. >> it's going to happen right? we're going to see the fees. >> but there are good looking women in first class. >> and boring is why you're here. >> now that was just mean. that was just mean. all right. my thanks to charlie. no emergency savings? no problem. our guys are coming to your rescue right after this.
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all right, some stocks to help rescue the emergency fund. >> we love our pets. animals from cows to hogs healthier. this is a play on it. it will help you make money. >> rfg. this is a mid cap growth stocks deal. they have exposure to the u.s. economy, but not so much to the u.s. dollar. strong u.s. dollar. >> ben? >> don't play any games with
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stocks thinks it's going to make you rich overnight. work hard save. once you've got 5,000 or $10,000 saved, just buy the spiders. >> that will do it. today the united states is one of the most respected countries on earth. part of that is because of the work we did to reengage the world and say we want to work with you as partners with mutual interest and mutual respect. >> president obama saying he has made america the most respected country on earth again, but some here saying there are plenty of costly examples around the world showing why that's not true. so who is right? hi everybody. i'm david asman. let's go in focus with steve forbes sabrina shafford and bruce jackson.
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