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tv   Cashin In  FOX News  February 8, 2014 8:30am-9:01am PST

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>> you like this one? >> i like etfs in general. if you like big oil and big tech companies. >> that's it for "forbes on fox." keep it right here. fox business continues with eric bolin and "cashin' in." >> more and more americans lean on the government for assistance. president obama told us this. >> we have the numbers and we're going to debate it. squaller in sochi, toilets and turmoil. water unhealthy to bathe in and who let the dogs out. why this shows america still has the biggest fight when it comes to super power status. and fast about your seat belts. the government's rollout plan to have the cars talk to each
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other. it's to avoid crashes but will it mean privacy concerns. welcome in to "cashin' in" this week. welcome, everybody. it was the super brawl airing before and after the super bowl. bill o'reilly putting president obama in the hot seat to where his policies are taking the country. you might be scratching your head after this exchange. >> take a look at the disability explosion. it's insane. it's through the roof. you know -- >> bill, the point is we have not massively expanded the welfare state. that's just not true. >> but, wait, hold the phone. take a look at this. the number of people on food stamps is up nearly 70% since the president took office and the price we're paying for the program soaring 112% under his watch. michelle, the welfare state expanding or not? i'm confused. >> he's not fooling anyone.
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all the programs have expanded. did he forget he created obamacare, the biggest entitlement program? it shows that obamacare will lead to the reduction of $2 million in america because of the subsidies. so-mile-an-hours are realizing it's a better deal to stay at home, be unemployed and live off obama care subcities and get food and entitlement programs than go out and work. that's the america the president has created. >> do you know what he meant by -- >> absolutely. scratching my head, eric. i mean the president hasn't just expanded the welfare state. his whole philosophy is the welfare state. more specifically a state of 40s. welfare is not compassion. it's not good will or charity. it's government force. it's taking money from people who have earned it and giving it
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to people who have not. it's government that has expanded not just with obama but others previously as well. it's nearly 50% now and it's exploded under president obama. >> fair enough, yeah. so it has exploded under other pretties, but, juan, under president obama, that line, if you look at the line, it goes off the chart. you know, it increases, accelerates quite a bit in his term. >> this is so bizarre. this is like me being in the middle of ebenezer scrooge on the left, the right, all around. you guys missed the idea that we had a tremendous recession in 20 2008, an economic disaster and it put a lot of people in economic jeopardy. you want to ignore it and talk about an entitlement president, food stamp president. >> juan, hold on. >> let me say this. >> let me finish. >> no, hold on. the people who get food stamps in this country, 72% -- i'm sorry, 90% are under poverty
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state. 72% of them are families with children. >> so why doesn't obama -- >> seniors with disabilities. >> juan, juan, we got an unemployment rate that ticked down to 6.6%. the president is touting his economic policies that are helping create jobs, yet that curve hasn't curved down. fewer people aren't on food stamps. poverty levels aren't going down. we're spending more and more. how you do square that circle? if we're spending more -- >> let me answer. let me answer. first of all, the president made a really right on point when he said the value of welfare payments today is less than it was under president reagan. so if you chart the increase and rate of growth, yes, there are more people, but the value is less. and then the second thing to say is what we've seen is that the rich are getting richer in this count country.
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that's why everyone was talking income inequality. >> president obama says, nope, not under me, not really expanding. >> obviously you can't argue with the facts, eric. welfare spinning itself supplying 16%. you talk about food stamps is up over 100%. and unemployment up 85%. by the way, juan, just for the record, he's been there for five years now almost so you can't say this just happened -- you know, this just happened yesterday and this is george bush's fault and he inherited this. he inherited some of it. of course, he inherited some of it. the but this is of his doing hchl has not helped us one iota. >> let me just -- let me -- >> please -- >> you don't think he's lifting us out? >> let me bring this over to michelle and john. they did a study a year ago and they found that poor families of
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free, they receive about $60,000 in benefits from the government. meanwhile that same year the average household income, median household income for people working is 57,000 dollars a year. turned theory, if you're on welfare, you're bringing home more money. let me start with michelle and go to john. >> exactly. it's easier to live at home and get these benefits. the deficit is $6.6 trillion. the labor participation rate is loyer than four dead cades. >> go ahead, john. >> juan wants to compare me to ebenezer scrooge. ebenezer scrooge did not use a gun. it's not your friend, a helping hand to success. it's gun. he wants it to air to all area os testify life. you heard it in his state of the
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union. there's no area of human life here in america to which he fr rights. welfare is just the beginning. >> juan, there's no doubt. you can't argue with the numbers. look at the federal government. we're spending more on welfare programs. 126 individual anti-poverty programs in 2013 alone. we're spending more. is it helping? >> of course, it's helping. unless you want to live in a castle on top of a hill like brazil and you want to hit the lock on the door at every intersection because the four people are lying in the streets. let me finish my point for once. this is so ridiculous. you talk about this being a disincentive to work. do you want children working in the mines? that's what you want.
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>> you're king of the strawman. >> in 2008 the year before president obama took over until the most recent year that we have a number for, unemployment insurance spending went from 26 weeks to 99-plus weeks. yet as michelle points out, our labor relations is tanking. we're spending more and fewer americans are working. >> eric, part of this is the keynesian economics. these are guys who haven't read or these are guys who have not read milton freeman. they have buried themselves in the thee of it. that will stimulate the economy. not true. what will stimulate the economy
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is private spending. not people making up jobs just to satisfy the government. >> can i get a response to that, eric, really quickly? i'd like to just respond quickly and say there's another theory which is we have more choosing to retire and that's why you see the work force being cut in this way. it has nothing do with the economics. >> we'll leave it right there. you can continue the conversation right now on twitter. #cashin'in. be sure to keep it up. make your voice heard. coming up, tourists at the olympicsing are having to suck it up in sochi. australia dogs are running wild. and hotel rooms, look at that water. we know what this is saying about water. but what about america? mine was earned in korea in 1953.
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olympics are. in bathrooms, that don't have toilet paper. check that out. that ain't bud light, folks. that's the water. stray dogs in the street. you can't run if they're chasing you because manholes aren't there. this say as lot about russia. you said this also proves something about america, right? >> it's not just that we're the biggest super power but that we're the only super power. what makes our country super? if it were gold, oil, it would be cuba. but it's the country's idea, not their natural resources that make it a success. it's the free countries that have been the most prosperous. it's not surprising to see those disastrous conditions. it's why the per capita income in russia is $14,000 a year.
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that's considered poverty here in the still free u.s. >> can we excuse it? because after all russia is fairly new at the capitalism game. by the way, sochi is a perfect example of something they're trying to build with. there was no bidding of this. there was no free market of this. nobody incentivized to do a better job. nobody going to get a pay raise, get a prize for doing this better. as a consequence, what you have is a government enforced labor also -- enforced labor camp to get this thing done as fast as possible. they don't care. they're a third world nation. you can see it every day if you've ever bun been to russia. you will know. i spent five or six there. it was awful.
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you say you get a glass of water that looks like beer. everything is like that. you're pulling teeth just to get the basicing out of them. >> sandusky that prove that america is the real big dog in super powers? >> of course, we're the big dogs in super powers and we should be prout of it. whelp like over there and see what putin is doing, i want to echo what he said. it's depression, totalitarian, the stance they're taking on our gay athletes, this is wretched. but the big point to me and big disappointment is nbc goes over there and sees dollar signs, so they're kissing up to putin. i think that's reprehenceable. >> michelle, what does that say? they were expecting bigger crowds. by the werek it's vladimir putin. i'm sure there's going to be russian butts in those seats.
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>> it looks bad, they're hearing bad things and they're worried about security. this was putin's big opportunity. he wanted to show the world russian was modern and wealthy. instead what we've learned is it's corrupt, awful, miserable. he spent $50 billion for this olympic event and a report came out in russia that showed 30 billion of those went into the pockets of his friend. really russia is the soviet union 2.0. >> go ahead, john. >> if you're against this, then you should have advocated for its converse, for americanism, for its liberty. they used to say, many russians used to joke that america's streeteds were paved with gold. they weren't actually paved with gold but we had those ideas of real capitalism, not cronyism like in russia. individual liberty and rights.
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that's what makes us a super power and the only thing that will keep us as a super power. >> there's a shortage of pillows in sochi. in america that wouldn't have happen. capitalism is so strong that if we were holding it in salt lake city and there was a shortage of pillows, there would be a mi million pillows the next day. >> there's no free market under the totalitarian government. by the way, we've got to be careful because that's occurring more and more in this country. we're tending more and more to a fascist economy where the government and private sector are getting hands and hands together where you can't necessary will have a competitive market. competition is what makes the free market work. >> amen. i know juan wanted to get in there but we have to leave it there. that was a perfect way to button up that seg millionaire.
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thank you very much, wayne. coming up, a new controversy. a plan to have two cars communicate with each other. do you rb the last time uncle sam got behind the wheel? can you say crash? you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪
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coming up, uncle sam driving a new plan. but is this a step toward safety or two steps back on privacy? and then the
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and as congress continues to raise big questions about the irs scandal, you'll hear from a prominent tea party leader who testified this week that despite promises of an testified this week despite promises of an independent investigation nothing's been done so far. stay with us. ahh! maybe they just found out what the government's about to do your their car. uncle sam moving forward with
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new plans for technology in cars to communicate with each other. the goal is to help avoid government. wayne, you said the government crashes everything it gets involved with. >> it's technology. you can't stop technology. we have the same with the internet and iphones. same thing could happen here. in the long run, it's been a good thing. >> hey, john, what about this in theory it sounds like a good thing. we've learned in of the past, you can trust the government with data? >> yeah, i don't know what wayne is talking about. it's nothing like the internet. wayne, no one forced you to get on the internet. no one forced to you get an iphone. >> hey, you can walk. >> wait a minute, the government is forcing you to put the technology in the car that's a cost to people who want to drive. eric, it was worthwhile technology, the consumers would operate it themselves.
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in this country, why do regulators get to choose what we drive. >> let me bring it to the other libertarian. >> you know, i think that wayne's right. i think we're going to have fewer accidents. fewer traffic jams. and my car's already a computer. if we can get people using their cell phones to act more responsibly. they're already watching us through speeding, red lights, cameras. we're already under observation. >> all right. >> hold on, let me give michelle your thoughts on this one? >> the government can't even create a health care website. you think i'm going to get on the road with a bunch of cars with communication system. absolutely not. it's going to be a 200 million car pileup. and hackers have proven that they can remotely tap into the car system. they can shut down the engine, turn it off and put the brakes
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on at high speed. no i'm not getting in that car. >> john you go ahead. >> it's the element of this country where you have to submit, hey, government roads, you have to follow the government rules. if we had a country based on liberty you could make these choices what you want to put in your car. and you can't use safety as a catchall for that's a real cost. could be thousands of dollars for individual consumers. >> that's why you don't wear a seat belt, right? you don't wear a seat belt, right? >> oh, man. >> on the highway! >> we got to leave it there. i love this stuff. thank you for joining us. coming up, tipping our hat to a late-night legend. he was fair he was balanced, he will be missed. [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in ve, get married, have a couple of kids,
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time for what you need know
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next week. wayne, you're up. >> well, i love an old-fashioned company called coca-cola. why? because coca-cola bout into green mountain company and it's going to go up. >> very good, wayne. how about you, john? >> well, touch the feel of cotton. the fabric of our portfolios. eric, i'm going long with cotton. good success with coffee and taking a look at b.a.l. >> very good. you guys are awesome and hot. after 22 years and 44,000 jokes, jay leno signed off the "tonight show" for the very last time. here's some of that emotional moment. >> boy, this is a hard time. i want to thank you, the audience, you folks have been just incredibly loyal. oh, we wouldn't be on the air.
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secondly, this has been the greatest 22 years of my life. >> jay, i know i will definitely miss you see you on the five. president obama says he's got, quote, a pen and a phone, once again signaling that he's willing to do an end run around congress. we'll ask governor huckabee if he thinks the president can score. and al qaeda operatives to fight syria's bloody war. what impact will this have in the leading stability as effort, continue. we get the assad government backed out. we'll talk to the colonel back from a trip to the middle east. and it's a mars rover milestone.

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