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tv   Forbes on Fox  FOX Business  May 21, 2017 3:00am-3:31am EDT

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>> ben. >> as always fighters hold them long enough you will be rich. >> he will be rich, the way he said it you will be rich, i hope you founded this -- we continue now. david: why washington is focusing on the allegations against president trump as he takes first foreign trip, someone here says with our debt nearing 20 trillion dollars we should salmonella be focusing on a really revolutionary plan the trump team is upvailing brand-new budget aimed at something we have not done in a long time balancing the federal budget can they pull it off with everything else that is going on hi i am david asman welcome to forbes on fox let's find out what michael, elizabeth, sybrina, john, and bruce might very ambitious the goal balanced budget 10 years is it
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feasible. >> i happen to not think this plan cuts spending deep enough david, the last president last 50 years to cut nondefense discretionary spending ronald reagan a big tax cut because we people pay for government spending, we need to cut spending to help get the economy moving again. >> bruce i know you were a big defer of bill clinton month of a balanced budget he is one of the guys did it but a republican congress, it -- he was pointing them in the right direction could we do it again? >> i think there is a possibility here but you have -- the white house, with all these -- this -- these self he inflicted wounds from sound bite making america great to nixonian witch hunt -- >> hold on bruce, i got to bruce i want to stick with you for a second case remember, what was happening with bill clinton when he was balancing the budget he was impeached! he was impeached you can get
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-- >> he is done with crisis over administration. >> okay i am glad you brought that up he was able to counterpartlize he had an attorney handled stuff going on i don't know if donald can do that i think what they should go for rather than tax cut thing do infrastructure, that is actually going to be something simple that congress can handle. >> that is more government spending look at how much money we have been spending we do need reminders now and again under clinton 12.7 trillion dollars during his administration, went up quite a bit under president bush republican but a lot of that had to do with 9/11 clinton we remind voters had peace dividend to spend less on defense but look at president obama. 28.7 trillion dollars we have to get this under control. >> government spending is the ultimate cruel tax simply because it is awful effect
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unseen, every dollar government spends is a dollar that future intel microsoft or amazon will never get, they can never -- so essentially to bring down government spending i don't care about despots i care about level government spending away too large bring it down. >> president trump will be out of country of next week when budget unveiled, unveiled tuesday to bruce's point, maybe that ain't a to have economic team up front rather than president with all things hovering around him. >> communications perspective i agree i should i should be very good one of the reasons that i you know soft despise government spending takes away agency freedom from american people not only is it taxes -- on tax take money out of functioning economy but it makes people less responsible if you take something like 109 billion dollars that government spends feeding children in this country, many whom are not in need i should make it clear because i don't
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want to sound callous, it takes away from families, primary responsibility care for children -- >> something from government to everybody, is very often short changed people need it most you are great with numbers i alwaysed a mired to you in addition to many others you looked at budget unveiled we had preview of it, on friday. of this week, with mick mulvaney ombe director kind of showing us details of it is it feasible 10 year plan to balance the budget. >> what he is proposing is interesting, of course, the cuts to epa, you know medicaid i get it people are worried about the poor, the states are going to be able to look at how to deal with poor they are a priority. but you know what is really drg cutting tensions, more than half of the time last 15 years, congress didn't pass a budget, so that is why --
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spending is out of control i want to say gridlock is no will the the problem in d.c. it incumbents ratcheting up spending nancy pelosi chuck schumer aarraign since reagan era. >> bill you suggested -- the entire department get rid of department education forget whole thing we can probably do better without. >> it i don't think republicans should burn up too much political capital on dollars and cents could make a dramatic move to shrink the footprint of the federal government, yes get rid of the department of education, how about liberating the labor markets how about pooelg by thousand statutes. >> wish list i got to say mike the one thing about this budget, that -- that maybe overambitious when you look at what is actually happening in the economy, there is assuming 3% growth rate, in gdp, now, in the first quarter, we had
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less than 1% growth i think we had .7% growth so unless we get tax cuts this year, we are not going to have droeth like that right. >> you are absolutely right, and ronald reagan laid the blueprint for strong economy he cut taxes significantly and discretionary spending reducing department of agriculture the department of commerce, we had tremendous job growth, and we had gdp growth over 3%. >> we got to get taxes, john another thing that may interfere with the ambitions donald trump wants more spending on certain things 200 billion dollars on infrastructure, i think bruce would support that, but i think it is more money, he also, of course, wants to border wall scaled that back a little bit then he wants a brand-new entitlement paid leave to all new parents, so there is more spending in this bill, of course, military spending as well.
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>> infrastructure spending is just -- but for roads how could government he possibly know where -- >> let me that emphasize -- the solar panel company i love that. >> how could federal government know where roads should be built what arrangements we need by definition it is waste government spending does not stimulate economic growth it is damaging we derive s private sector. >> leads me to bruce. >> i would say that the problem is they need to keep this simple, you know, donald is talking about the private/public partnership, to rebuild america, we don't hear anything about that 37 so i will be looking in the budget to see, where are you going to -- >> -- to tell the truth frank we haven't heard much about that we saw what happened with president obama tried all these bridges to nowherets they didn't work didn't
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stimulate economy a lot of projects half wit projects. >> if government spend coming create jobs as milton friedman says us why not hire people to dig holes with spoons then you get a lot of jobs out of that. >> sybrina go ahead. >> there is i think some burden needs to be on congress, write clear laws so often passing hundreds of laws constructive branch tosses rooms and regulation that weren't clear in the law we need to sort of streamline that, so that they can't do that especially when there are things overall 1 hundred million dollars it wasn't specified so i think there is a lot of work congress can do to rein in executives. >> you point to 1,000 statutes that you think should be wiped off the books right. >> the government has nose into too many things one of them labor market if you want growth, if you want jobs, liberate employees are by people do on sist of france. >> i like that last word, coming up next liberals planning a summer of
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resistance against the president's agenda is one here says it could get a chilly reresponse and backfire on democrats' economic agenda we debate it next.
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. >> fox business brief, ending in green after roller coaster couple of days a markets up and down and scandalized out of white house continues to mount all banner for week trading above 50 bucks a barrel, making good on a campaign, promise the trump administration, is told congress it intends to renegotiate nafta, the president trade representative pending a letter announcing 90 days of consultationings with lawmakers -- says that after that talks begin with canada and mexico. major league baseball teaming up with facebook to carry live game nationally each friday starts this week colorado cincinnati, 20 games will use
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the feed. >> fox business network for latest in business financial news fox business giving you power to prosper. david: well forget summer to remember, liberalize want a summer of resistance, on heels of rowdy town halls ready to pump a million becomes this summer to fight the president's agenda but you say this will backfire on democrats' agenda how so -- >> i think it will, interesting dna evidence from political behavior research came out shows a stream of protests causes the public to respond opposite way does not people want to join your cause i think despite some insanity happening right now in washington it is different democrats to keep in mind that voters voted for change wanted the swamp drained, so they better be careful tread lightly. >> bruce? what do you think. >> who doesn't love a good
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parade? i mean come on! we need to get the -- the voters need to be engaging on both sides, to keep an eye on what is going on, and yoe necessarily think it is going to lead to anyway legislative victories for the democrats, because the republicans can't get their act together either. david: i love a good parade but these are not just prais parades, people get hysterical turn the channel. >> some turn into riots, i believe in free speech no problems, the problem is this could turn into riteing how about a summer of working based on your economic policy ideas, your ideas like a jerry seinfeld show nothing happens. >> riots that go on since president was inaugurated environmentalists destroy buildings, cars. david: emphasized by things what do you think.
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>> a lot of democrats are so complacent about election swept through it could wake them a up could i see a lot of congressman running on with itsch hunt ticket in 2018. >> john there are some examples around the country, of how some protesters are not panning out as people would like in oregon for example, all protesters, about a -- a natural gas facility that was going to be planted there they were going to put in liquefied natural gas terminal in oregon what happened, is voters came out with overwhelmingly rejected the ban on natural gas they want the gas sometimes things backfire. >> i am sure republicans would love it if democrats get out in finery tie dyes. >> can when democrats protesting they kill arguments much more obtuse than even the
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other side republicans should hope for this. >> there is something about the summer rallies they try to get together i remember with vice president biden had a summer rally for growth, remember when they began all that infrastructure spending under president obama, and didn't lead to anything. >> that is right turned out he is going to create 300,000 jobs or something like that, never happened, this is going to enable trump to do what harry truman did point to congress tell people, you know why you are not getting tax cuts because congress is out there rioting instead of voting. >> to be fair, a lot of protesters do just want to protest they just want to put their message out there, but so often these things are contain over hijacked fall, by radicals just want to make trouble. >> well, certainly, you have incidents where the cameras are always drawn to the few idiots that are you know
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burning something or dancing around let's face the facts here, having an he engaged public is good, you know, hey. >> keep -- >> donald had red baseball hat now industry in pink stocking caps. >> about is to explode. >> go ahead. >> bruce, how about you face the facts, small businesses are seeing their businesses gets torched people are seeing cars get torched, women get pepper sprayed in the face, so there is violence happening we are seeing senior citizens assaulted enough is enough dangerous i don't want anybody getting hurt. >> when you see pictures, really does highlight in people's minds, the idea of okay on one hand we have constructive job growth o other hand crazy rioting. >> i think that look from pure policy perspective democrats just sit back watch what is happening here in washington, they sort of have upper hand at this point i think should also look to what has been happening on college campuses, a disaster, for from public
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relations i don't think they want to get into that. >> we do have a first -- we live and die by first amendment is there a way to satisfy folks want peaceful protests with concern about public order. >> of course, you could protest peacefully right now where this country is, worse recovery since 30s people badly need tax cuts reduction in rules regulations creating all this red tape, that really hindered our economy should be job one. >> you know when you talk about tax cuts i just want to cheer, mike i just want to cheer. we do need them. all right cashing in gang ready to roll bottom of the hour eric. >> good morning, everybody. david president trump fighting against mainstream media saying no politicians has been treated worse more unfairly than them we hit the street to see what you think it is the shocking number of congressional probes into russia will taxpayers be happy about all this?
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we think nyet. >> we will be watching up here first, you have harder breath lies others how about a text a lieser what some want to do with drivers smartphones that have some words about everyone's privacy that is coming next.
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technicalitying caused the crash, some say it could help keep us safe on roads john says -- >> complete invasion of he prefers explain. >> yes a bad idea that kneeled lesley grand diesees government why not leave this to sure, that can do the same thing, and they could adjust your rates, assuming you are stupid enough to test while driving. >> there in a sobering think a in 20 15, 442 crashes. >> some laws on books are not working so we have to you know, at least look at something else, and listen, to home for me, i am actually helping train a teenager how to drive, right now, tough. >> whatever that takes. >> no more finishing nasal the end of that joyner, mike flying with breathalyzers i think we have come to appreciate, the work that they do in keeping drugs off road why not textlize.
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>> how about a hot coffee an lieser driving down road, sipping on hot cup of coffee, bothers me i don't think -- i love i but look remember first came out with radar zones police using that what a few easier radar gun detectors. >> some are too kind to bad drivers after an accident your texting should be available to subpoena and discovery order. >> you want mayor debrassio reading your text i don't want that they can see the time on, they don't have to read it i think a horrible idea mike is right technology to foil. >> it how far do you do are you against breathalyzers, i am we don't need a law for everything we cannot fight stupidity with laws. >> i understand the point, and
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that is a strong libertarian point would you go that far ban braeth lie -- breathalyzers. >> no. >> it is true that when states tighten up, on their breathalyzers on attempts to get duis off the road, in fact we have fewer fatal accidents. >> yeah, you know i think listen something needs to be done there maybe needs more psa campaigns this is a huge problem it doesn't seem going away with the laws we have right now. >> bill. >> i think it gets tougher on texters that kill people. >> 400 dead from texting knock it off. >> it is awful people dying from people texting i misunderstood, final word do you think any comes to fruition i think if technology is there, somebody somewhere is going to find way to use it. >> i think you are right, david i think look, there is also a somebody willing to --
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let's say pay a politicians with donation to get laws in place i think that could be happening here. >> thank you very much coming up the safe stocks. >> ♪ this is my new best friend, esther. she might look like any normal, playful puppy but
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david: best business channel we hope to see you there we've got your safe picks of times of rocky --. >> more than a billion shop there strategy coming on amazon in a big way wall street likes this. >> better pray that they figure out how to keep up with amazon you got a brand campbell's everybody loves campbell's soup. >> cost food you buy in in a recession. >> hope we don't get in recession. >> stock overprivatized cut sales forecast and cut
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basically earnings went down. >> so there are problems there but we love campbell soup keep it right here number one business continues with eric and cashing in. >> look at the way i have been treated lately. especially by the media. no politician in history i say this with great surety has been treated worse or more unfairly. >> president trump firing back the wake of the russia fbi firestorm thinks dpoeth a raw deal on coverage, so we hit the streets so see what americans think. >> president trump, says he is treated unfairly poorly by media do you agree with that. >> yes campaign orchestration white house -- >> i would say some he brought

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