tv Cavuto Coast to Coast FOX Business July 22, 2015 12:00pm-2:01pm EDT
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profit report last night, 47 million iphones instead of 40 million. i bet you that neil cavuto has something to say about that because he's here right now. neil: we are following this iranian development. i think this is signed, sealed and delivered but we are getting signed their putting out the press on capitol hill to sell a deal that will pass unanimously in the security council is anything but a done deal. the israeli ambassador pushing very hard to make sure it is in big no vote but 67 no votes to override a presidential veto. john kerry later today, secretary of state meeting behind closed doors, to try to push them to go for is this so you have this tug-of-war, a lot on a deal that looks good for
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the president because there is no way they are going to musters those 67 votes. blake berman in the middle of this drama in washington. >> about to pick up on capitol hill. a couple hours from now jack lew, treasury secretary, the energy department. congressional wide briefings at 2:00, the house gets its breeding and a couple hours later at 4:30 this and it will get its briefing as well. the three have already been on the helm meeting with lawmakers. the reason those three would be there makes sense. moneys will be detailing the chemistry behind all this, he is a physicist, john kerry about the overall deal land jack lew about the sanctions. and what might be taken off the table in israel's ambassador has done some lobbying on his own so
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is expected to be a busy day. there is testimony tomorrow by those three. neil: blake berman, now to my buddy keith more. the magic number is 67. those are keenly against this deal. to reject this deal, to reject a presidential veto. that was next to impossible. that is suddenly very possible. >> there's a reason there's a full court blitz going on with john kerry and all the rest of the heavyweights going over to capitol hill and making this case for this deal because it is eroding right now and it is eroded with republicans and moderate democrats having some reservations about this so this is not a done deal. i doubt there will be 67 votes in the senate to blast this.
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totally one party against the republicans, the bloom is off the rose here. neil: they might go by diplomatic perfunctory nests if you excuse my slaying. the un is already said a katie is this, it is an international agreement. we reject all the others are part of it. they are easing up on their sanction. it is weird by that wisdom not being part of this. what do you think of that. >> you are making the case john kerry is making. everyone in the world is for this. republicans are taking a close look at this, reservations about whether iran can be trusted. most of the american public has the same reservation. what john kerry is going to say on capitol hill in the next few days.
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neil: john kerry's argument is goofy, drama building up on capitol hill here over trying to save the deal, john kerry trying to save the deal meeting later on with virtually all senators, anyone and everyone to make a pitch to not say no to a deal he knows will not pass muster in the senate that he is trying to prevent 67 senators from not passing muster in the senate but stepping back, the president's global credibility, he thinks this is in the best interest but if he is rejected here is it your understanding they could still go through with this and the president will argue it is a deal with congress behind me or not? >> i think this is a legacy issue for this president. if he can get this done, one of his primary foreign policy achievements, this is a president who has not had many foreign policy achievements. this is a big deal from a policy and political sense from this president.
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we want to win it big, they don't want to win this that they want to win over republicans. neil: thank you very much. israel's ambassador to the united states, ambassador, you are aware of the full court press going on, you are part of it. later on today secretary of state john kerry saying yes, you have a lot of support on capitol hill. do you think you have 67 u.s. senators who feel the same way? >> we might. i am speaking to a lot of people on both sides of the aisle since the deal was announced. there's a lot of skepticism about the deal. i want to do everything i can to make clear how israel thinks about this deal and to take them through what the problems are from us. it pays iran, to an entire arsenal. >> the agreement of the
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administration all over the place and benjamin netanyahu with the defense secretary. and have elected that and concluded -- >> look at the specific agreement that was made to conclude that because that was already announced in a framework where you put a limitation on the restrictions placed on iran's nuclear program. understanding decade and the restrictions being put in place with iran centrifuge capacity is removed. the other restriction is removed. and those that the president's words, he said been two months ago on an interview. israel's main problem was already decided in the
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framework. >> his leadership has been consistent in this concern. has a debra lindgren? has there been a anger or nasty phone calls between your american counterpart. and holding out, as a stick here or has it gotten to that point? >> not at all. >> the administration wants to engage with us to deal with what would happen in the aftermath of this deal going through and those are discussions we are not having because we think the worst thing for israel is for the deal goes through. neil: i know you have been working hard upon this but i am also aware of the political hard blow that goes on behind the scenes like cannot imagine given what is going on between our countries over this issue. it has and beyond nasty words.
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it has elevated to the push of a getting compromise. >> at no time and i can speak with authority on that. at no time has -- and i don't question the sincerity of the president of the sectarian state as they say that. >> not that would be compromised that some benefit financially or otherwise that would ease the pain. >> the administration would like to engage with us on a discussion as they do with the arab states. to figure out how to work together in the aftermath of the deal. neil: what does that mean? part of the agreement would be
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for you to go along with this grudgingly, financial or otherwise to be made for israel. >> may want to bolster israel's security in the wake of a potential deal and what the prime minister recently said was why would you need to compensate israel for a deal that makes israel stronger, we think it will in danger is real. with in danger the world. at no time have they threatened us but we have a policy disagreement and keep this disagreement as a disagreement between friends and allies that no longer how it turns out on -- the u.s. and israel will deal with the challenge we face together in the region. neil: a pleasure. we appreciate your taking the time. one of those senators on what is at stake, senator mike lee from the fine state of utah. 67 no votes there, doesn't appear that way to me.
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what do you think? >> i would not say they are there yet. there's a possibility between now and september it will be there for the simple reason this plan is as bad as we expected but much worse than we expected. people come to that conclusion and gives us the potential pass at 67 no votes. neil: so you are looking at this drama unfolding and the secretary of state will be meeting with you individually but trying to put as many as he can, sounds like the republicans almost one man and woman. do you know of any democrats similarly concerned with going against the president on this? >> i am certain that they are, there are democrats in that position. they haven't identified themselves yet to my knowledge but i am confident they will. neil: you need a 11 of them. if you are feeling by september
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we will be there. >> i am confident that by september, we will have a number of democrats who have grave concerns with this deal because it is a bad deal that doesn't hold iran accountable, it will spark an arms race in the middle east, the united states and allies are left very vulnerable. neil: what did you think when that a white house was intimating, i think i got this right, that the u.n. has already approved this, this is an international agreement, congress can do what it wants the effect of the matter is all our major global players are going along with this unanimously and with you vote no or not override the resident's veto or not, it is a done deal, get with the program. >> those international bodies don't get to decide the law of the united states. that is a job for congress. neil: i know it would be lifting tens of millions of dollars of sanctions on their own from
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their own country. what is the big deal? >> i understand that, the sanctions in the united states have very significant, they have to be evaluated on their own merits. neil: you do not recognize what ever sovereignty they are taking to the united nations to act unilaterally on the deal, and congress has to go along. >> the united nations lacks the capacity to find congress to do anything particularly in this area. i am not going to concede that point. neil: the original agreement e-book you saw i appreciate your flexibility you are probably what the president had to say about all of this so-called irs targeting of conservatives, even disputed the justice department and other authorities that that is exactly what happened. jon stewart yesterday --
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>> the real scandal around the irs right now is it has been so poorly funded the truth of the matter is there was not a big conspiracy. you have this back office and they are going after the tea party. it turned out no. congress has passed a crummy law that didn't give people guidance. neil: that would be news to some of his own agency's but leaving that aside i think he blamed you. >> i think he did. he at least blamed the loss. that claim wouldn't respond to the critical point which is they were targeting conservative groups. conservative groups were targeted in a way that left-leaning groups corresponding groups were not. that is a big deal. that is a problem and that is a type of conspiracy. neil: the bigger problem the president of the united states is saying there is nothing here vichy said there is not a bit of evidence that he said with bill o'reilly, nothing here.
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independent investigation still and suing, the justice department, maybe they are not even going on. what do you make of some of that? >> these organizations were targeted, we know that from the organizations themselves. those happened in disputed. they disproportionately targeted at a time corresponding liberal groups or moderate groups were not. this is a big problem that ought to concern every american because when the government seeks to squelch core political speech, that ought to concern every one. that is a fundamental threat to the republican form of government. neil: thank you for your flexibility. with breaking news is always a pleasure. i don't know if you were a kid in school like connell mcshane got straight as and your parents are jumping on you, what happened? >> i like and that to apple. it sells 47 million iphones and you know what shareholders say?
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see car insurance in a whole new light. liberty mutual insurance. connell: apple is your stock of the day, story of the day and the business world with stock dragging the dow with it. everybody is so interested in apple for the obvious reasons, stock in u.s. mutual-fund portfolios but more than that the psyche of it, how well known it is to the american public, when the numbers come out there is extra scrutiny. look apple's numbers and we won't put in context, profit is of 30%. a lot of companies will tell you those are pretty good problems to have and that is what happened with apple last quarter. apparently as neil reference before the break, you sell 47 million iphones that is not enough and stock has been
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falling as a result of that, not meeting expectations and ceo tim cook when he spoke about this, we had an amazing quarter, high food revenue of over last year, strong sales, great start, great start to the apple watch. the apple watch, it is a great start for the apple watch, it doesn't break down by product, other product revenue includes the apple watch. head phones and other items, we don't know what a great start means, the second concern or third in the iphone sales, what is happening in china. a lot of companies are concerned what is happening in china with economy and stock markets slowing down, $13.2 billion is the number but the number sold in china, the concern of analysts, apple has a lot of problems, ala companies would love to have but also concerns
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going forward. neil: a different set of standards. thank you very much. the news of the day's surprising polls out concerning hillary clinton, in a heap of trouble not only facing heavy pressure on the left from the democratic party nomination but now she is losing in three key states to the top republican presidential candidate so the guy who foresaw all of this and pinned the reasons to let before anyone had a hold on the subject, i am talking about former obama fund-raiser don on what he makes it hillary's troubles. what is going on? >> what is happening with the democratic party tends to happen with republicans, getting pulled to the extreme. of the real clinton has the nomination locked up but yet she is compelled to run of the lead because she is afraid. i think the democrats love her, like the idea of having a transformative candidate. neil: the core loves her.
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>> she is running to the left, she turned a sharp turn to the left and necessarily. she is strong, doesn't need to end that will hurt her tremendously in the general election. i like jeb bush, you see jeb bush being a much more moderate republican. neil: a big fund-raiser, you are saying i like jeb bush. that is weird. >> i can jeb bush was governor of my state in two terms, did a good job running it. i am a big believer that in order to run this great country you need to come here with other experience outside of government. we can have career politicians running the government is it doesn't work. we can't have people focus on raising -- doesn't mean -- you are not a politician. being a two em governor and the ending that with a business career that was a very successful one, running for office, he was actually serving in the peace corps, ran a successful business, real estate
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business. neil: when you tell your democratic buddies this today they throw stuff at you? >> no. interestingly enough several supporters who have supported this president and when i joel pmi and not there right now for hillary but looking hard at jeb bush face a -- neil: why the president and not hillary? birds of the synthetic? >> barack obama is different in many ways. neil: to the left of karl marx. >> he has done things differently than i anticipated when he first ran. scooby 20 many interpret him as very anti business. >> refocused a lot of attention on the income inequity in the country which is a serious issue and now the pendulum which happens with democrats a lot is so extreme to the underside so that is all anybody is talking about, country, the big problems and we have other issues. neil: charlie gasparino reported hillary clinton and supporters are telling the big bang guys
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chill pill time, don't worry about it, she doesn't believe this nonsense she is saying, just trying to get the nomination. i am simplifying it that that is the justin that. >> that is unfortunate. if that were true that is unfortunate that that is why people like donald trump. they don't think he is telling the one thing and saying something else behind-the-scenes. neil: early on you said he could have staying power here. people scoffed at you. what do you think now? >> donald trump is a successful entrepreneur, an outspoken person and accountable only to himself. that is a good thing in many regards. it is getting into trouble right now. neil: could you see him as president? >> no i couldn't. neil: the meaner ripping people and one is presidential? >> people are wanting >> reporter: and i think that is better than more of the same age you are seeing people -- the fact that he made insensitive comments is insightful into his personality.
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neil: hasn't hurt him yet. >> it might. neil: are you surprised he is doing a katie he >> it will be cumulative. bernard: continue to offend constituency after constituency and it will be cumulative but he is a serious candidate because he is a serious business person unafraid to speak his mind. neil: he never forgets a slight. he's very vindictive. these are admirable qualities. you will remember your enemies. and tough when you are a world negotiator. >> and johnson, and reward your friends and punish your enemies. hiking business as well. neil: will sleep with the fishes, he does. but donald, i think donald is a successful entrepreneur and those skills are very helpful. i don't think his temperament is
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going to be well-suited for the political process as we know it today. neil: we will watch closely. you have been right on a couple friends. good seeing you again. >> let me know how the obama campaign for union goes. neil: we have a lot more on donald trump and the attacks and counterattacks, everyone is attacking everyone. more after this.
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neil: just getting some news now concerning baker, oil concern halted for a circuit breaker development to reopen. halliburton looking to purchase the company now facing u.s. antitrust hurdles as a result weighing on both issues now but more to the point, and baker hughes the drop-off, precipitous drop off would imply the deal
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could go completely and wall street doesn't like that. it resumed trading down 8-3/4%. we will keep you posted on that and the latest donald trump developments, the latest news is this. he has added the pope to his list of people he hates. the pope overrated. charlie gasparino has been following true to his comments earlier on when donald trump was teasing her, he would be a junkyard dog and would not forget us late, qualities you tend to admire in ruthless leaders. i don't know if american presidents, but they all got there, charlie gasparino would never be considered a choir boy. we just had -- might that trades in donald trump, know scorched-earth strategy is resonating. >> the wall street guys, wall street gop, they love this. they love it.
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they have taken a lot of heat off of hillary's e-mails. and her own fight with bernie sanders. the wall street republicans hate it but here is the one thing they all admit. when you see jab up there and john kasich yesterday, the immense amount of moralizing these guys do they talk about stuff, i don't know what gop focus group john kasich is getting his thoughts from, standing in line, it is not what republican voters want to hear. neil: they have a triple burger. >> maybe
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>> found the card. 202228-0292. maybe it is a wrong number. neil: never forgetting us light. now it is uber pulling a donald trump. >> we just got an e-mail from qasm al-rimi to putting pressure on more than ever. sending an e-mail to new york c base users with councilmember robert chin's phone-number, the original sponsor of the proposal to cap uber in new york city, that received bill deblasio's support, the bill supposedly would only allow 16 new uber drivers to be added in new york city garment according to the company and diddy -- uber sent millions of dollars on a campaign to stay in business in new york, they see as an important litmus test. council member shin said she will not be bullied despite the
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phone calls and campaign against this bill. city council is considering a bill that would have uber and another bill to allow the city to study the ways they should regulate the apps based car industry. the bill scheduled for thursday could get the late. and most of the famous investors, it should be kept in new york city, in the community and wrong to admit uber in this case so more people waiting in and councilmember sinn's phone-number has been sent out by uber. neil: i am sure there is reason we care about ashton kutcher's views on this subject. >> he is an investor in uber and he has been very vocal on this point, a pretty serious tech investor. neil: a little condescending when you said as i said.
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okay. thank you, seriously, very much. no big fan of this deal, like a tool or they are on -- >> nobody thinks that this agreement for getting approved by congress, it is clear and there was a majority a, there will be two thirds in both chambers to override a presidential veto? neil: you heard from joe lieberman, he thinks there will be, they are close if not at that point already, republicans senator from montana on whether he agrees, 67 votes are crucial. and whether they fixed 67 no votes and override a presidential veto.
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>> everyday is that goes by, those were still on the pens are starting to lean no on this deal. on saturday the supreme leader of iran is saying they are going to defy u.s. policy, and yesterday's secretary kerri says these remarks are very disturbing. i don't think the clock starts ticking yet on 60 days. as of last night, republican and democrat wrote a letter, and as members look at the deal still on the fence, when they go home in august and stand in front of the people, send them back to washington to defend this country i do not think this deal will increase momentum. if anything there will be momentum to kill this deal and get 67 votes. neil: the call political pragmatism rules, at the end of
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the day this summer, and other developments, this fall lower and lower on their totem pole, concerns possibly and if you are the president you are looking at making sure republicans don't get more than the 16 no votes, they're looking at now. i am including a few likely democrat flips. that is enough. the president's -- the un has voted, unanimously for this all those member countries including france and great britain and what have you are going to resume diplomatic relations in trade with iran and left tens of billions of dollars of sanctions with without us. >> votes from the u.n. bypassed congress help the president, several members, the isle of concern, bypassed congress and goes to the security council first before coming to congress.
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neil: if you know now, delay to this point you got to get to that 67 and you are not near it. >> i tell you what, on one hand, democrats publicly claim out to support this steel, and last spring when we signed the letter senator cohen sent to iran, 47 at that point by the time that moved through congress the final vote on that was 98-1 saying congress should weigh in on the deal. last march and april, looking very concerning, was 98-1 at the end. time is on the side of those who believe it is a bad deal for america and the world's. neil: do we know who the one person was who is okay? >> other even trying to get a legacy in a nobel prize right now i think that is very concerning for us. this is about security of the united states and the free world. neil: thank you very much. 98-1 view in the senate
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overwhelmingly against any deal with iran. that was done and this is a good deal. interest rates are moving up or not, we have more evidence of that. right now talking about home resale, the highest level in 8-1/2 years. we got enough data to conclude that the housing recovery is real. will it last real long time? after this.
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say that. she did remind me that she had reminded me tom cotton was follow lone no vote the we have to put up here all the time. peter barnes on the strong existing homes sales report and signs yet again that housing is percolating. the only issue is for how long. >> national association of realtors reported housing sales increase to their highest level in 8-1/2 years in june and annual rate of 5.5 million units per year up 3% from june and guess what? now we have got bidding wars for single-family homes starting to erupt in some markets around the country taking us back to the good old days of the housing bubble. are we? the national association of realtors talks is to the improving economy, more job creation, low interest rates and low housing supply, despite the
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economic recovery homebuilders are only building new homes at half of their annual pace from ten years ago and housing market. and existing homes. a number of home seller homes, the number of homes selling above their original listing price has gone up by 1/3 in the last two years. bidding wars had erupted in hot markets like silicon valley, seattle, denver, texas, dallas, houston austin, boston, realtors are reporting bidding wars year in some parts of northern virginia. >> i heard stories from agents were 5 or 6 offers on a property in a good location like north arlington or downtown d.c. or alexandria are getting these multiple bids and sometimes with escalation and buyers are waiting things like a home appraisal on marketing.
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>> you see in this house the findings? went on the market last week, sold in two days for more some $800,000. neil: why july get the feeling we caught you in the middle of shopping for a home? >> i am not in the market. neil: of course not. you pay cash for everything. it is interesting. somebody else pick up the pace, something we have been worried about, sophisticated technologies it keeps getting compromised, this one hits closer to home at least when you are driving home because in your vehicle they found a way to rig a car, a jeep cherokee that they could control. to illustrate the point how easy it is to do david kennedy on that. what do you make of that? >> great to see you. two researchers actually did the
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research on these cars. definitely it resonates with what the industry is saying, the more technology introduced into things that have impact on public safety could be packed and that is what they did is they hacked the jeep. neil: what did they do? how did they gain access to it? >> there is a system in the jeep that handles controlling multiple pieces of devices inside a car, and network inside your car, as you connect it hooks different systems together so you can control them from a mobile apps, put your heat on, get everything warm but before you get in the car, remotely start it. that is what this system was designed to do and researchers are able to go in and hack that remotely from their living room and cause the car itself to exhibit a lot of issues including slowing the car down and it is going 40 miles an hour and going 10 miles an hour, those types of things. neil: we talk about this many times in the past and you educated me, i worry when covering these stories, and getting bad guys' ideas?
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bad guys already have those ideas? >> that is my concern as well. if you look at what researchers did they demonstrated 100% that this is possible to do and there's a big security community, trying to say was this something that put people in harm's way? was their research something that could harm individuals and folks and give hackers bad ideas? i personally think you give the company time to address it and chrysler and jeep have a patch for this but you have to go to the dealership to get that data, they can't put it over it the air which causes a major issue when cars are vulnerable. neil: they can do things on the internet but not here. thank you as always. you have probably heard that apple disappointed yesterday by only making a gazillion dollars. what they're focusing on in this report is what happened with those apple sales and they were not up to snuff. we told you from the beginning
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of the thing to look for is when someone is making a pitch to you pay attention to the things they are pitching that pay more attention to the things they are not. no where in the earnings release yesterday was there even a mention of the apple watch. it was rolled together in a weird category that instantly told our players at fox wait a minute. did we overreact? after this. everywhere you look, it strategy is now business strategy.? and a partnership with hp can help you accelerate down a path created by people, technology and ideas. to move your company from what it is now... to what it needs to become.
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distant memory. instead we have charles payne joining us as well as popular science magazine editor michael one asnunez . >> it is a tremendous success. one of the most successful smart watches available, the 1 people respond to or recognize. it is not exactly the same. more focused toward health and fitness and cheaper, and -- neil: being the fitness buff myself more people relate to that. >> i don't think that is true. >> the apple watch is one of the few smart watches people recognize. there would be nothing to most
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people but in fact those that the direct competitors apple watch. neil: i agree with you. but high expectations. >> numbers were outrageous so that is why unfortunately even though it is more successful almost anything else apple never put out is seen as a disappointment, but it is going to be a tough sell beyond those are apple fans, a giant pool of people talking about a fringe element but things like it, in my mind to make it justified to a broader audience besides those enthusiasts who have to have the next apple product. neil: make it more -- >> this is an accessory. it was never meant to surpass iphone sales and you will never surpass mac sales in the near future but you could get a different connection on the smart watch relatively soon and that could be a game change.
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at the top of the hour don't think this whole 15 minimum wage thing is a city affair or town affair it is going viral in new york state it is beginning to the whole state or trying to. connell with the latest on that pmpleght talking about fast food workers and something that activists or part of this industry has been pushing for a long time. they're going to get it now talking ab $15 minimum wage for fast food workers if the approve expected to do. you will see wage jumping from $8.75 to $15. but still that is a pretty big jump and norg is better than the res of the country in materials of minimum wage at 75 versus 725 on a federal level. getting up to 15 is interesting from a couple of different levels here.
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as i said activist and protest that have been pushing for this when they take to the streets to protest in front of the mcdonald's and burger king saying that this is a living wage what their workers need to get by. it brings up old questions that we always talk about when a higher minimum wage is discussed and/or debated. that is will $15 going from $8.75 to $15 will that cost jobs in mcdonald's or the aforementioned from wendy's burger king cut jobs because they can't pay that wage? other question neil is i think what is affect on other businesses going to be if you're talking about fast food now we've had wal-mart in the news voluntarily raising wage that pays workser will other businesses follow the lead if fast food restaurants are forced to do this? >> very good point.
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and copycat syndrome and cost for business as a result. brings us to fox news's dan springer in seattle on minimum wage is there affecting businesses now. dan. >> seattle is the first, and they started the implementing the higher wage in april. but they bumped it up to $11 an hour to be $15 an hour by 2018 but starting to see interesting consequences some of them unintended seeing that that there's a redistribution where restaurant owners have gone to a 15% surcharge on menu items what they've done is said to customer use don't have to tip anymore. so seeing income lost from servers and income going to the back of restaurant to some of te dishwashers and cooks back there. we're also seeing that some restaurants have closed their doors although not saying directly tied to the minimum wage. but maybe the most interesting thing that we've seen so far is there's evidence that people who were on welfare programs making
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minimum wage, are asking their employers to work fewer hours, why? because the bump in pay is getting them over that threshold an lose ski subsidy for thousanding and for food so they want to be below that threshold to keep public subsidies something i don't anybody thought. one of the big argument as for higher minimum wage is to lift people out of poverty. that is right. >> whole selling point could be going opposite way. i appreciate it. welsh for a lot of small businesses isn't just a minimum wage going up. but going up is dramatically as it has or likely will, keep in mind if you have an average of $7.50 and double it that is a pretty big leap and small businesses are already being regulated to death. richard, big guy democratic player and influential in liberal circle. say she's not and should take a chill pill.
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all right so richard, you think that businesses are overreacting, why? >> i can't really speak to the economics of doubling the minimum wage. but you're familiar with the card krooger study from two years ago where they had fast food locations on opposite sides of the pennsylvania new jersey boarder. one had higher minimum wage than other. guess what there was no difference of anything. it was additive -- >> what was the difference in the wage? was it double? >> i agree it was not double. >>awhat no comparison at all. >> labor is not a commodity in the sense that there's moral that you don't have if you're a commodity. >> you doubled you doubling the cost of something, whether you're across the street or across the continent people will gravitate towards lower cost environment. frankly -- ting that's a gimme. okay. [inaudible] that's my worry. i think either telling you, i don't have the money to pay for his big heart. >> that's absolutely true.
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for small businesses we're in era of hyperregulation and you have a minimum wage issue and a expansion of the overtime eligibility where does this money come from? two-thirds of the workers work for small businesses, and small businesses are not rebounding at the pace larger companies are. we've got to have a recovery in this country right now. small businesses are rebounding at a very snail slate that is cost them 55% of the burden regulations put on the cost. which is trillions of dollars 55% of that falls on small businesses, guess what, something has got to give. it is beginning to give in terms of jobs, in the fact that small businesses are going out of business. you're going to see fewer startup and where does job creation come from? from small businesses innovation comes from small businesses and ironically neil in a 2011 president obama wrote an op-ed and i'm going to paraphrase that and in essence he said rule and regulations have undue burden on
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business that is causing lack of innovation, putting a chill on growth and chill on jobs, and yet what is she doing? but laying more and more and more on us. my organization small business entrepreneurship counsel is lobbying department of labor to try to get its act together and realize what the real consequences of these actions will be on small business. >> well richard i hope you're proud of yourself. so here's where we stand richard, that you have a big -- big on taxpayer money. that's a liberal sort of a -- process that i see going on here. that everyone would say hey, pay everyone more money to crunch numbers and realize that we're paying for that. and these four workers are getting hours adjusted their benefits cut or just have their fannies fired. or ones who ultimately suffer. what do you think of that? >> the bottom was dropping out from under small business. here's what runs contrary to that. gallop as a you know susan and
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neil does a quarterly small business index survey. and the survey results from this past quarter showed a higher level of opt michigan among small business that any time -- few of them. >> paying that $15 wage now. in that camp -- to pay that. >> woe woe, listen, as for overtime, look the fact is, we were kind of at 1975 standards until this recent adjustment. >> richard are you paying for this you're not. richard if you were treating me out to dinner, i would order two appetizers i would order three dessert most expensive bottle cap of wine that i could. richard's treaty. you for doubling the minimum wage. >> how many times have you taken payroll and gone without your salary to make sure your employees are pads. i've done it many times. and i tell you it is tough on a small business owner. >> not disagreeing susan with the notion to get a fair days wage for fair day of work.
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>> when is a fair wage gone up to doubling it? just assuming that it could be easily paid? >> talking about overtime. >> you're taking away small businesses opportunities to incentivize employees the way they want. let's look at startup. i have an a internet startup i couldn't pay market value for my employees how did i get best and brightest to come to work with me? i gave them an opportunity to get equity. profit, thing like that. >> people who work at mcdonald's don't have that option. >> do they want to work at mcdonald's their entire life really seriously that's the job that they aspire to. >> i wish we had more time. saved a lot of time at the end talking over each other. otherwise you're quite right could have been problematic. thank you very much, i appreciate it. let's take a look at what's going on with oil right now this bears watching because we always get out of this $50 a barrel level we're below it right now. at 49.95 and they tell us not too long ago that he thinks it is going lower before dramatically higher.
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waiting for dramatically higher part and growing concern global economy is down. dollar plays a big part but keep in mind since priced in dollar. dollar goes up, with the price, underlying if value goes down so it is kind of like getting to be the end of the world. not quite but there's an offset every time things are gyrating market. gas prices go down, there's a flip side to armageddon. a good side. we'll have more after this.
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is like 12 years old same people we told you about with neil in the break you know what he has the nerve to say to me, that neil that chart that you were making fun of you just referred to and the chart shows the more the dollar goes up, the more oil goes down. so what he was saying to me was -- why don't you show the chart you just dismissed the day before? to which i added well why don't i just show you the door outside the control room. [laughter] there's the chart. you get the deal. incredible. still talking no in my ear. this could have been a lot worse but blessedly not a fire onboard royal caribbean cruise ship injured a crew member. company officials are saying it was quickly extinguished. the fire break out in a mechanical board of freedom of the seas as it arrived in jamaica. the onboard fire suppression
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equipment put out the fire which would be good if you are going to call yourself the onboard fire suppression equipment that's what it did it suppressed it that aforementioned fire. now you know what's going on there. now you know what's beginning on in washington with this back and forth, who is spying on whom and whether the irs is targeting conservative groups tearmt tea party groups president telling john is stuart no such thing on. it is a money issue. we've got jerry willis here awaiting judicial watch report to be released. as well as liz lizzy mcdonnell and those targeted jerry first to you. >> well the president is arguing with his own treasury department. here's the report from the treasury inspector general that says e guess what there's been targeting here. irs used inappropriate criteria that identified for review tea party and other organizations
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applying for tax exempt status based on their name or policy position. so you know, the president arguing with his own administration on this, and i have to tell you facts are out there. it happened. >> incredible. all right thank you very much terry. ralph now in my ear as a i told you each of the guests i mentioned are here individually. okay. lizzy separate drama. >> to what jerry was saying senate finance committee most powerful oversight committee, and it is a source close to the matter in doing reporting here, they're saying within two weeks time, before congress can, you know, leave through their august recess they want to come out with a bipartisan report that is the drop dead -- end of story, you know, this is the go-to report on what happened with the destruction of lois lerner e-mail the irs
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official who allegedly oversaw targeting of conservative groups. that's what treasury and inspector general said. they want to be the final say. and my sources are saying it will incorporate findingings from the inspector general that yes, 422 backup tapes were destroyed up to 24,000 e-mails destroyed it will say after congress ordered the irs not to destroy e-mails, after the irs's own top chief technology officer told the irs do not destroy e-mail it is that destruction of e-mails occurred anyway. >> let me ask you another awaiting that. but when the president said -- look there's nothing beginning on here. he's upgraded not a bit of eaved that anyone is being targeted. aren't there ongoing investigations and a shouldn't he have checked with these various -- >> i can give you information on that. there is -- let me back up.
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i have officials in d.c. who say it is concerning that an administration or president comes out and makes statements like that because it seems to be, quote, disruptive to the investigatory process. >> you make it sound like -- >> he can't say that without saying too that, you know, lowe wise lerner's blackberry is not probed that is uncovered. you know, lerner laptop backup servers were not probed or found, and a also text messages and irs officials were not backed up so not conclusive to say there's not a smidgen of corruption because evidence isn't there to prove either way. right? >> so you would have -- had a follow-up unlike mr. stuart? >> i would have been in the audience raising my hand to ask another question about it pmpleght you would have knowing you you would have. thank you very, very much. we have tea party attorney who represents some 38 groups who say that they were unfairly targeted by the irs. the president as you know saying
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not so. let's move on. what do you think? >> well a u.s. court of appeals in the district of columbia has acknowledged that targeting seem. here's the other thing president keeps saying didn't happen but lois lerner said it happened. they tarted based on name and policy. >> what was he saying what was the president saying to say that is a funding issue, a bad law? obviously, dropping out on congress's lap but what is he saying? >> bad love that has been around since 1954 please. if i guess it wasn't a bad law what all of the left center groups got their tax exemption. it wasn't such a bad law then including groups that support the president. here's the reality let's look what we know. regardless of e-mails we know from e-mails that we have found that nevada lois lerner was with the departments of justice to in their words, quote, peace together criminal cases against our client for exercising their
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freedom of speech. so the president should not have said and been doing it with bill o'reilly he did this always in a state of denial. his own justice department is supposedly investigating this criminally. so i guess president is playing prosecutor and jury here but it is his irs that has done this and they should be held accidentable. >> to your point but do you agree or disagree whatever your politics are. where do we stand on this if this every comes out just this is doing your homework, you know? but yeah. >> okay, he would poipped out if you check with his department of justice supposedly there's an ongoing invest. he would also find out in z street targeted because they were proisrael group they were targeted because they took a position different than administration on the middle east. they were targeted. the irs admitted that targeting here. the fec and department of justice were in conversations with lowe lerner and president could say all he wants but
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reality is neil you've been covering this for a long time we already have the smoke. we already have the fire. we like to get the rest of the evidence because i suspect it is a five alarm fire when we see the rest. >> sphearl when agencies launch a five alarm fire. thank you very, very much. appreciate it. >> speaking of the president he's about to meet with a lot of small business owners, the congressman who says he could do a lot more for them helping him. after this.
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>> all right, being president powwowing with a number of small business leadsers across the country right now in the white house. republican congressman jeb says he could do them a big favor by -- by offering something. some benefits. something that would cut back on the regulatory burdening in to ease their lives. congressman who do you specifically want to see? >> well number oning with two biggest to small business are
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the tax code and the tsunami of regulations most of which have come out under the obama administration. with respect to the fax tax code the manufactures society is our number one impediment to a tax code in the white house, is against that and instead they're responsible for single largest tax increase in american history. the regulatory tsunami that has come out of obamacare, out of dot frank, mlb, and our rest of alphabet increased cost of regulation on small businesses by at least 60%. and you know, right there it is regulatory relief. it is tax relief. so i don't know who these small businesses are. but if they're like the small businesses in texas president would be wise to listen to them carefully. responsible -- >> he has that he says that gite everything you're saying there, if they're doing so badly they have a funny way of showing it.
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they talk about economic -- and herl i want you to listen because they're not coming here so i want to express their view. other thing they're saying is they're offering small business credit an incentive and special tax break and a spa loans. you say that doesn't nearly measure up. no, a lot of that has to do with the political allocation of credit with strings attached attached it is washington taking off your money from you and if you get on bended knee and beg they'll give a little bit of it back. what we need again is to unleash the forces of entrepreneurial capitalism. today for the first time in a generation, we have more small business debt than small business startups. and a begin, people don't want to start new businesses you undr obama administration that has everything to do with the sheer weight, volume, complexity, and uncertainty of the regulatory
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livelihood and he can solve that because so much of that is coming out of his administration. and so that's what he needs to realize. >> congressman thank you. we'll see if that attitude gets to that meeting. we'll see. >> we'll see. >> thank you very much. in the meenl time we have adam shapiro on this whole faa development and how they hire and fire controllers but big news right now he's been relentless on this adam. >> has to do with the man f a a cleaning up as well as to negotiate contracts with the faa union air traffic control aviation. resigned because he warned management they were breaking the law and they ignored him. here's what he says in the e-mail sent to f faa employees for violating the law, and after 13 years of advise physician federal agencies on how to comply with the statute i was
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not intentionally acting inconsistent with that same statute, in other words, breaking the law. and faa refuses to comment to fox business. we have been unable to get comment from mr. fedder and reached out to national air association to see this they have a comment and they have not responded. what's happening here is senior manager like tear rei bristol coo of the air traffic organization. she supervises this man joseph, we have a picture of joseph he was forced out. he resigned last week effective august 30th but he's redesigned because of what fox business exposed in the changes in hiring which have lowered the standards for air traffic control. what appears to be going on according to this resignation e-mail from mr. is that the union is willing to stay quiet on the lowering of the standard in return xxiii for the contract to
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pay union employees who are not performing faa work. >> incredible. as always adam great reporting the kind of stuff that just riles republican presidential candidates that is a theme of theirs but perhaps motionly with that is rick santorum. who is making a go for president this time around and seen playing out as we speak. the very issues he has been known for years ago big government and what happens when it gets out of control. rick santorum after this. the promise of the cloud is that every organization
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>> we've got this backup, and they're going after the tea party, turn out, no congress has passed a -- crummy law that didn't give people guidance in terms of what they were trying to do but did it poorly and stupidly. >> i just want to go on record this whole weight thing, thyroid thing -- [laughter] really? left and right they've been investigating what has been going on with these irs targets. i mean, you don't have to be a john birch or a george to know that at this proportionate number of conservative groups by a factor 10-1 and congressman's fault this is insulting folks. i don't care where you stand on the political here. but that salgt weird and also makes this next guy win run for president of the united states rick santorum on that.
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but to your point senator we touched on this in the past this is what happens when government gets so big and so unwieldy accountability goes too. >> accountability goes but the bottom line is this president has created an atmosphere of going after your opponents. and that permeates through the government. and a i don't think there's any doubt that the way the divisiveness of this president the way he's ruthlessly gone after a the other side, is a install -- >> [inaudible] republicans on him and then you guys, they did it pass just bad. awful. >> i would like to think that, you know, it is just a response. but it is not a response. the president sensed the tone. it's like going into a classroom as a teacher you can say well kids are misbehaving teacher sets the tone and this president set a tone in washington as soon as he came in one of division
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we're going to ram it down your throat an not pay attention to anybody. we don't want anything bipartisan and anybody who oppose us we question motives. >> going further so he's saying -- political views here. he's say there's nothing there. there is no targeting going on and very agency as are once who said we're looking into said targeting that we know is going on. >> agencies admitted inspector general at the irs said yes this is beginning on. here we have another case where you can keep insurance policy if you want to where the president goes out and spins, he can call it spin or not telling the truth to the american public. i think there's now a prate clear track record that the president went out there and said we're going to have snapback -- sanctions and we're going to have verification like it is never before occurred all of that is not true. everybody who looks at agreement knows it is not true but what the president hasn't changed his tune.
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>> used this in the past where you sort of make the problem go away by delaying the investigation. delaying to the poijt where people forget about it. other things on their minds it goes away. >> well i mean clearly the justice department is now been looking at this for a long time and we haven't seen any activity. someone's head should have rolled based upon what was going on with the irs. >> top ten issues americans are worried about? >> it fits into the -- part that you talked about that is overintrusiveness of the federal government and fear that people have about the government not being honest. the government not being someone you can trust. if you -- there's one thing to not trust government generally. there's another thing if you don't trust your institutions to do what they're being asked to do, and i think we're now reaching point where more and more americans say look at the whole debate about army and men in the uniform in the military
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at these civilian sites you have people out there only o the right saying we can't do this because they don't trust the america military anymore. that fundamental mistrust of institutions is not good if you're a conservative, it is not good period. and it is in my opinion being by a president who simply is not trustworthy. >> as a former senator you know the 67 senate no votes in each -- likely president leader, their rejection of this deal. i'm getting the sense senator from the administration certainly from secretary of state that they've got u.n. clearance for this. read security counsel approved this dole that leads me to believe with or without america participation all of the sanction and countries who voted for that app will be resended. so iran if i'm looking at this, they don't care what america does about this. >> put the united states congress in the position they
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have put it in with a lot of other things i don't care what you do i'm going to use my pen, phone and do whatever i want and try to stop me. that's pretty much what the president has done. he sold goods saying yeah i'll support this -- >> you're a lawyer opinion >>. >> i am, i'll refer to legal mind on fair legal ground to say an international agreement approved in the u.n. supersedes whatever a member country is coming up? >> no unless it is a treaty ratified by the congress the answer is know they're not. >> full steam ahead my view. >> that is his view whether international treaty or executive order or executive amnesty. >> say you became president and now that you have inherited this what would you do? >> i think that reason that the europeans are going along with it is not because so enthusiastic about it. that they are deferring as we do in eastern european they defer
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to the united states whether the president is prepared to lead doesn't matter to the rest of the world he's leading whether he wants to or not and europe isn't going to october but what a new president will be able to do is we'll have a -- probably a year now of this agreement in place. there's no doubt that iran will have violated sanctions that iran will be a supporter of terrorism, and the new leader of the free world whoever that president is and a i home it's me will be able to go to our allies and lead again and get those to come along. the problem as we all talk about is china and russia. china and russia didn't want to be part of this and that is where president obama has put us behind the eight ball. >> if you become president you're treated like rhonda daij field you have won iowa -- >> 11 states. >> yet you're treated the same way. >> that bugs me. >> sometimes careful what you ask for, and maybe be the in top
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of the pack prow isn't a good place to be. hearings what wn folks at the top of the back four years ago didn't win a single. >> comes with being seconds place finisher and won and a ultimately won iowa, i mean -- no? >> i've always been an outsider? been someone who has taken on the establishment of fox city hall, and we don't get money from -- >> you have it free. >> we have wyoming. >> not hurting for money. >> rick santorum.com is the website and i don't know of the single candidate saying they're not hurting for money. >> you have 48 children and they're all candidates in iowa -- >> my daughter is here with me. >> beautiful. >> and everybody is doing well. very blessed but the bottom line is what matters is not what goes on in july. as a i said what happens in july stays in july. what happens in february is what matters. >> let's get it right you were
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in where couple of week before that. i remember that. senator thank you very much. rick santorum, all right now a lot of people looking to greece say they have a second chance to vote only latest in the country and look like it is going through. we're breathing a sigh of relief global markets despite craziness saying it could never happen here anyway. well i think you might want to take a peek at what's going on in chicago. it is not a windy city just to the wind. ♪
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>> all right here we go for the fox business brief talking about gold today. gold continues to fall that about a five year low hovering around been hammered lately. one month chart of gold that has been as we report on every day. a federal rate, interest rate even safe haven status doesn't seem to be there anymore after the bailout in greece. gold down by 12 bucks today. so that's about 1%. but point is on track for at the point consecutive daily decline. so quite a streak here looking at the longest losing streak for 15 years for price of gold. when metal goes down like that gold related gold mining stocks, mostly lower. there's the gold as an exemption there for the most part in the red. quick check of the market. apple has been a big story. text stocks down. more cavuto "cavuto: coast to
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everyone loves the picture i posted of you. at&t reminds you it can wait. >> all right we're getting intushes news concerning financial viability and trust fund now a group in washington says it is going to likely run out of the money the way things are going now in 2016 for the greater social security itself.
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not nearly that more eminent threat but it does show you that money going out is not keeping up with money going in that bottom line that is a big map problem for entitlement in general an once again raises the issue and something that economists brian is raising quite often that entitle ms are like ticking time bomb. now the proof what are you making of this saying that redges of this study is that congress should recommend an automatic 19% cut in benefits to deal with this now? what do you think? >> yeah, i actually -- if you go back to 1969, neil, the monthly benefits for people on social security disability has gone up 1100%, and the increase in average hourly earnings has gone up by 500% so paying per people on disability.
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widen classifications that allows people to get on disability we have over 10 million people on this country on disability right now. there's only 11 million people that work in manufacturing. so this entitlement, this redistribution has grown. it can't last. it is a ponzi scam that cannot last lane driven countries into if we let it keep going for years to come. it will eventually do the same. >> act fast right now. this is coming from the trustees of the social security. fund. in other words these are not some flunky someone on the left says getting this from town hall.com but folks overseeing that frantic right now, and the question that comes up is if this is the disability trust fund is this an ominous sign for social security itself. what is your sense?
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>> well, it all is, neil, you know, greece, chicago, detroit, all of the -- it is the failure of cannes economics the whole idea to tax from one group of people and give favors to another group of people to the reason cannes became so popular is because he told politicians what they wanted to hear. and that is if you give goodies away, and then by the way, you're going to get votes from those people that you give goodies away to you're going to help the economy that is a perverse set of logic that doesn't work. but politicians have bought themselves in seats in congress and state legislatures around the world, an they've done it with a future taxpayer's money. that's what this proves that even trustees that these are the people that have to -- responsible for running the social security trust punted say that it can't last. >> very well put brian thank you for putting it in english i
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appreciate that my friend on this before a lot of politicians as well. again just to update you, this group goes on to say on the greater social security fund, much larger retirement fund, it is said to start running out of money around 2035. they went on to say that medicare joint hospital fund is expected to exhaust its funds by 2030. now relatively close my friends based on protections and interest rates are low you have a slow tick in rates i would that would change this dramatically. i know we're going to talk about gold but i want to pick it up with with trish regan first i to imagine that a development with this with social security underlying this ability trust fund another entitlement that could be losing money will jar and derl your guest in the next hour. >> you know what neil we can't afford it. we've known that for a while as you pointed out brian has been talking about this for a while and you and i have talked about
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at length but that deadline is closer and closer, 2016. i mean, there's the harsh reality of why it doesn't work on all of this and entitlement of a swore problem and tough problem for a lot of people and my generation that are just going to say you know what, it is not the there for me. i cannot rely on this. think about it trish that is like for now. but very interesting news. thank you very much, trish we want to update you to as more comes in on this, that there are automatic measures that kick in with the disability fund that would not kick in with the general retirement fund, for example between a heart place and running out of dough whether people like it or not triggered 19% cut in benefits next step would be an automatic tax increase. these are automatic levels that are pulled if this would happen. not happening yet but it is a year away. man oh man get ready, it could get ugly.
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>> all right we are with still follow-up on this study out of social security, these are guys who runnel the shop and greater retirement trust fund itself in there confirming what we've long known and megyn mcdonnell has been reporting on it connell that well is going to run dry when it comes to disability fund next year. in the campaign they have to do something about it unlike social security if it were to run out of dough this year next year more like 2034, and the disability finance automatic provision that kick in including automatic 19 cut in benefits if that doesn't do it automatic height and taxes so they did not know same with a retirement fund but you've been talking about this. what do you think of this? >> i think that on the campaign
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trail, for certain you're going to hear a lot more talk about it. particularly as you move into 2016 about how to fix disability. because disability roles increased dramatically during the downturn during the economic downturn as economy improves those numbers should be falling but instead of you have a disability fund that is on the cusp of running out of money. what are people willing to do about it? again it goes back to the health of the economy, creation of jobs, a changing mood in this country where people would rather get paid by the government and not work than a government -- >> fine if president is saying -- but everything is okay. now to entitlements and this idea that we have to do hacking, unnecessary but it does bring us back to wait a minute, this doesn't jive over here. >> times is important and daigen is right when you shift from social security in general to disability trust fund because of
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2016 and now 2034 your argument resonates much more with people because i think that social security conversation that we've been having for so many years although it will run out of money at some point it flies by people. >> doesn't by me because it is still there for me. but for you guys, toast. >> heartless -- >> exactly. but that's why i like what i hear mike huckabee say i won't do anything. but you razz the point that -- >> fast the reaper right. >> he said people have earned this i'm not going to touch this. people who are drawing money out of social security and medicare they're taking more at this point than they ever put into social security and medicare. i understand not cutting somebody's benefits. but i cannot -- listen, you know what the urban institute years past has put out numbers on this. and you have like oh couple and one has spouse who works. they'll take out three times of
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the money. >> maybe that for mike huckabee but maybe good for chris christie who is one of the few on the sturp stump saying we have to scale back benefits maybe means test. >> jeb bush said other things about raising retirement age but again that goes back to the point where people say that doesn't really i know it affects other people different than how old you are but trish made a good point minutes agoing that a lot of people have assumed that a lot of these things won't be there when they get to that certain point. >> cynical anyway. >> they are anyway. >> i disagree with that. i don't think people assume that. ting that people look at their -- the taxes that they pay into these, and they're like i want mine. i want mine. >> you won't get it all doomed. more after this. can a business have a mind?
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now the white house foreign policy advisor susan rice on the wires indicating this iran deal is a food deal. do it. it is in our national interest. john kerry stumping capitol hill to jawbone his way to pressure folks to feel similarly. uphill fight. 4:00 today on you're world on fnc we're all over this -- "your world." trish: welcome to the the intelligence report. are democrats in trouble? showing frontrunner hillary clinton trailing republicans in key swing states. hillary is losing in all head-to-head matchups. jeb bush, marco rubio and scott walker. voters saying that they simply don't trust her. we're covering all angles of this story with our own blake burman. gary smith and joe trippi of tripi and associates. want to start with you, blake. hillary numbers, matchups not pretty at least for her. >> this is three states. colorado, iowa and virginia.
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