>> very good. and so the forbes on fox family. keep it right here k. carbin in is next. >> and this is everything you want for christmas this year. congress is playing santa with your money. lawmakers are giving each other six billion in pork presents. to sending sesame street to pakistan. there is ways to cut the waste before uttering tax hike again. i am tracey byrns in for cheryl. wayne rogers and johnathon and john. and jimmie green joins us and neal wyneburg. we are hearing rumbles of tax

hikes. you say we have to cut spending first. >> i mean tracey. they are wasting our mon yelives . half a million. and study college kids like facebook. here is a hint they like it. money on a chocolate promotion in new york? it is supposed to burped thitution. not spending other people's money and throwing it down the drain. >> that documentary was how it affected the collapse of the soviet union. wayne, you say we need to do both. cut the spepped potentially raise taxes. >> you got to. you can't cover the gap by cutting the spending. johnathon is right. i laugh when i read this

stuff. 6.9 billion dollars. that's nine zeros. and i mean, they pointed these thernings out it is rilick dus. it is over a billion given away to people for tax credits on housing who don't even own houses and went to someone who is a four year old girl and she doesn't own a house and that is insanity. giving 181,000 for the how cocaine enhances the sex drive of japanese quail? please, give me a break? we have people in congress who went nuts. we are out of control. >> my favorite is the 600,000 spent research by monkey throw feces. this is loan-- loony tunes. one person's wasteful speppeding is another man's

innovation. i probably spent 50,000 on my chocolate budget in hawaii. >> and here's the research. i think we have to look at another list if we were to get rid of 2001 and 3 tax cuts. that 866,000-- 866 billion. wayne is right. >> john, why does the study of morchingy throwing feces come back to the high wage earneries are taxed. >> and 30,000 to pakistan mango farmers. 13 farmers and the equipment didn't work. what jimu is saying, it is making the numbers do whatever you want to do. take it over a hundred years and call it 8.6 trillion and thousand call it 86 trillion. we borrow 42 cents of every dollar. you have to understand it math

wise. if we go back to clinton era rates. we borrow 39 cents was every dollar. it is only 40 billion a year and that money right there doesn't pay the interest on a new annual deficit of. and you have to look at real numbers. and that is giving the rich the tax cut. and take them away from the rich. numbers don't add up. >> get neal in here. neal, i took statistics and we know we can play with the numbers. but you think that senator coburn it is show boating. >> he is called dr. no. he should be dr. nonsense. it is political pandering. the treasury secretary is borrow 125 billion dollars a month. i know that people don't like pancakes for yuppies and a lot of thing to throw stones is

nonsense and not solving our problem. we have to get rid of medicare and medicaid. and raise taxes. >> you can't ignore it. we have bigger problems. >> johnathon, i want to get you back in here. it is aggregious and i am going back to the monkey feces study. >> i think it is a philosophy. we end up with a bailout because we say yes to all of the government interventions and spending. it is thievery. there is no other way. medicare and medicaid is your problem. >> you know that i don't. and what is disconcerting to me, it is ineffective as well. and spending 10 million on sesame streett in pakistan has not engentered the middle east tous. >> would you prefer them to watch sesame street or

terrorist. >> and forget about the kids in pakistan. we have folks here that are hurting. >> forget about our national security. >> you are correct about the social enittlements. but this is thievery. if you have a person who steals money in corporate america and put its toward a driveway in their own home they get fired oir indicted it is a symptom of a greater cause it is not trivial. we need to have a balanced budget amendment so these guys cannot do this. >> and wayne, you say we need to do both. don't you woy they will take your tax dollars and spend it on 50,000 for a festival promoting chocolate in hawaii? >> of course i am. but i don't think they care. these are people who are bribed for years. the congress. they don't know. when you call it a rounding

error. tell it to a guy who doesn't have a job and trying to sweep up the hallway. don't tell me it is it a rounding error. that is stealing. whether it is five dollars or five million. they are stealing our money and the taxpayer should rise up and go to washington and all of the stuff about the occupy wall street. they should be occupy washington and the senators and the congressmen's homes. that's what they should be doing. these people are stealing your money. >> let deal respond to that. >> the bigger issue we have huge financial problems and talking about sill things that are costing us money as we are borrowing in a half a minute is rikickulous. it is a sad show and a sad commentary that they are not addressing our serious problems.

can we all agree one thing left off of that list. 174,000 that each member of congress. cut that. >> and dealing with the small things, is look giving a guy with a brain tumor is like giving a aspirin. the symptom is manifest. and wayne pointed it out that it is thievey arey. and has to be addressed. >> if we spend so much money on the documentary of how rock-n-roll killed the soviet, we should have gotep a chance to see it coming up from the grocery store to the department store. prices on everything are going up. and wait until you hear how much the average family is spending on gas. time for the government to admit inflation is a problem? y- from thought to trade, on every screen. and all in real time.

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>> americans are getting ho, ho, hosed at the pump. shelling out 4100 filling up

their gas this year . record cost guzzling up 8 and half percent of the median family income. and the government refuse to say it is it a problem in america. >> you say it is a problem. >> unbelievable. they are gas and food. that is the thing that affects most american people. component prices go up in the ipad or computer. they have to buy gas and food. they have set calls for the mortage and car payments. it is over two-sevenbecause of the born based ethanoyl. and a true natural energy plan and what is affecting it is middle america. >> part of the reason they pull it out. because the government argues that gas and food prices are volatile. and they can't make policies

off of that. >> we should bear in mind. incomes are weak and declining and not that gas prices are going up. the average price 2.45 a gallon and not much higher than that right now. we saw in the first gulf war and in the 2000s we didn't see much of an inflation. and getting smaller it is less of a component. >> they are up 76 cents a gallon. i drive three hours and i feel that 76 cents. >> with all due respect. i don't think it is necessary to have, competition will take care of that. the fact that the feds is

buying bills from the treasure. that is not obvious and the public doesn't understand it schooner or later they will grab us by the throat and kill us. >> i am scratching my head here, tracey. i have heard so much arguing about clean energy and alternative energy and like it is the spawn of the devil from the folks on this panel. this is why we need to pursue that. and we are actually more fuel efficiency than we were. we are moving in the right direction. you can't pooh pooh every technology and then all in arms about gas prices. go down to texas and drive my mom's suv it is painful. thank goodness we are moving in the right. >> i know this is one of your

favorites. >> a lot of factors. green energy, pushes prices up and doesn't bring them down. but inflation is here and not caused by the hedge funds or evil bankers it is caused by the government. undue expansion of the money supply. and covert and destructive tact. your dollar is now worth about 25 percent less. that is a real tax on the rich and especially on the poor as well >> it will show up and rear its ugly head. >> you can't control it forever. it is like putting a top on a steam engine. it will burst out. it happened before of the we don't learn from history and we don't read history. and we are morons and congress in particular. how we elect people who don't read and cannot read or read

their own bills when they pass them. it boggles my mind that we tolerate >> jamu. i am not sure what show you are watching. i advocate to do energy policy in a new way. we are the only one without a energy policy. wayne is right. the inflation that is exasbrated by the fed policy and if about rates go up a couple of energy points. >> neal, the last word here. we need a new calculation then? >> in terms of inflation, no. the other panelist are right, we have a problem with the fed printing money. i think yields are at record low. this can come back to bite us. but i don't think that gas prices are a problem. >> maybe i am pushing prices up single handedly. bah hum burg. taxpayers are getting screwed.

fewer hopes were sold in the housing bust. does that mean housing bailouts were a bust, too?

>> coming up. overshooting the number of sales. is it proof they were worst.

>> and a blow to the presidential campaign. and former house speaker and texas governor will not appear on the virginia primary ball on the because they fail to get enough signatures to qualify. they are working to see what

option they have left. a white christmas in texas and new mexico. they are slammed by a snow storm. it is it a mess for the holiday travelers. it is stranding 250 people in a greyhound station in el paso. united states troops in afghanistan are getting ready for a christmas dinner. they are preparing a christmas feast for the troop in kandahar. stay at a. talk about fuzzy math. the national association of realtors admitting in 2007 overestimating home sales by three million homes that. means sales were 15 percent lower. this proves that even the housing bailouts were a bigger waste. >> yes, once again, it is an

incredible thing. excuse me a second. i have to read this. is astonishes that the agencies that are uncoordinate giving out money to housing. four tarp agencies and three involving freddie mac and fannie mae. and federal reserve and u.s. treasury and fha and a partridge in a pair tree. merry christmas, america. they are stealing your money again. it is unbelievable. they passed out all of the mon yenone of the money worked >> jamu, we are seeing no improvement in the housing market. >> they passed it out to the banks and incent vised and coaxed along and they probably should have been forced to do the thing they don't want to do. principle reduction . this is on the backs of the banks. i will sit here and say surprise you, folks,

government intervention will not fix the problem. let's have the banks look at two words they are running away from. >> john, we are getting a giggle out of >> i am getting a giggle. i am against government intervention and i am for government force. one and the same. government fueled the bubble and prolonged the crisis with some of the hand outs that the panels alluded to. it was not just for banks at all. it is hope for homeowners and fha hardest hit fund. they are passing it out to the homeowners. >> neal, i heard that children getting the first time home owners and we didn't get it for mine. >> on one hand. this alphabet soup that the government created was a mess. and money never got handed out. obama administration did not want to get blamed for giving it to yuppies and people

flipping homes . a lot of this never got started is like police on the beat and then blaming them for crime or trying to judge them based on crime that never occurred. how bad was the housing market will be? >> didn't it create inertia and there was so much incertainty. people sat on the side lines. >> it was not done by any community banker in the world. it looked at total income against the mortgage. didn't take into account student loans or car loans or debt. no one would have loaned on those two. and this is what the government put in place. very little money got out and you talk about the effectiveness of it. it is a massive waste of american money with this and done no good. >> wayne, giving you the last word here? >> the point that you make is

about the same . a lot of the money wasn't passed down. but the agencies that were created by the congress by the way, these agencies pass out money without any accountability. and no one accounts for it. and congress is supposed to be accountable to us. and spends it without control. values have rebounded unlike residential real estate. >> we are hearing that home prices will fall five percent. i am not seeing any fixes in the work. >> all right. coming up. we don't know who will be in the super bowl just yet. but someone knows how to profit from it. that's next. t dog cart. my mother said, "well, maybe we ought to buy this hot dog cart and set it up someplace." so my parents went to bank of america.

they met with the branch manager and they said, "look, we've got this little hot dog cart, and it's on a really good corner. let's see if we can buy the property." and the branch manager said, "all right, i will take a chance with the two of you." and we've been loyal to bank of america for the last 71 years.

>> cable companies are sweating the future and nfl

stromed live for free on the internet. i can watch my favorite team dallas cowboys choke for free this year. >> and wayne? >> i gave my kids the nice christmas present and stock in jeffreys that got beat down because of expensive to europe and revised all of that. jef moved again last week. and i recommend it strongly to people out there who want to look to the future. merry christmas to all of you. >> merry christmas and jeffrey had a merry christmas this year. johnathon in >> in bey are are, massive correlation and all assets moved together. risk on or off and in 200 -- 2012, you will see small cap value named and inefficient and picked over in the market. it is one fun to look at.