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tv   Cavuto on Business  FOX News  April 5, 2014 7:30am-8:01am PDT

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not the shoes in the car. >> john. >> russell mania in new orleans, hulk hogan, new orleans is back, tiedwater is up 20% on the year in there smackdown, guess what, neil is next. >> 7.1 reasons to celebrate. hi, everyone, neil cavuto, while the white house is celebrating those 7.1 million obamacare enrollees, it might not mean nay are new enrollees or paid enrollees, we are talking about the millions of americans kicked off their coverage, so there are like no enrollees. is all of this adding up to you paying a lot more for the coverage you got if you got it.
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what do you think? >> this thing is going to be extraordinarily expensive to everybody involved nobody is talking about all people who did not have insurance before the law. that was what it was sold as, as this cure all in a mean spirited society where tens of millions were left out of the system. >> that is miniscule numbers. it's heart breaking. we're the millions of people. one of the problems is it was hinted this stuff would be free. it's becoming more and more expensive as each day goes back. >> the irony was in the beginning to make sure everyone in this country was insured, now with this, we are looking at 40-plus million who aren't. maybe we can whittle it down to 30 million that aren't. isn't that what we are going into here? >> that 30 million number comes
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from the congressional budget office. it's unclear how many of these a little more than 7 million people that join the exchanges din have insurance, we have a good still only one-third were previously unemployed. you are basically shuffleing the deck chairs if you will in upending health care, to what end? not that many more people have insurance. >> this is the real house of lies. this entire health care fiasco. >> it's a good one. >> it's completely true. they've lied about it when they sold it. they lie about it every day. they tell you, first off. >> remember, you don't technically lie when you say a number like 7.1 billion. you leave out the new part the paid part. >> do you lie when you say you
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got, if you want your current insurance you can keep it? i'm saying when you build massive public policy on a lie, you can't trust anyone, the debate among lawyers is who is in there? it becomes legal remember the premise is a lie t. rest of it becomes very, very. >> a part of the lie is that they were surprised. they didn't realize this would happen. do you buy that? >> i don't know where you guys are getting your numbers. >> that one, i'm give you that one. i don't know where they're getting that 400,000 number. i'll tell you this, listen, the state of kentucky is a good number 40% of the uninsured will be reduced thanks to obamacare.
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that's just kentucky that's not talking about california with larger numbers. >> if we enter with 46 million uninsured. let's say we've taken that down a couple million. >> more than that, much more than that. >> well, that's debatable. you know we can argue this data. but if in the end we will be left with 30-plus million uninsured, we've upended our entire health care system for the 10% not covered and now many in that 10% either ver no interest in this or won't be covered period. it was a waste, wasn't it? >> no, first of all, there are tons of people who got insured off exchange, which is wage called insurance companies and got covered. there are people who are able get insurance coverage through expansion of medicaid. wait a second. >> if we are left with 30 million. >> we're not. >> so they got it wrong? when all is said and done, you would say? >> we are not going to be left with 30 million.
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as of today, yes, will it happen overnight, no. you are talking about overhauling the health care system. >> i will pursue this lead with you. if we are left with 30 million who will not be insured despite our hopes they may be some day, to me, that's a waste of effort. >> look, i don't remember anybody talking about the success of this is to have 7 million sign up. all we were talking about is the uninsured. >> that is just not happening. the bottom line with all of this is it was sold based on nothing. we are ending up with nothing. we have higher taxes, higher premiums. there was a major study just done with the biggest corporations out there, the 10,000 employees that found out it will cost-to-$240u6789 bucks, it will hurt unemployment. this will go south big time as we move forward. >> play that out then. let's say, these businesses who
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might use this sort of thing not to hire. this combined with the hike in the minimum wage doesn't provide a conducive environment to higher. what do you think? >> friday we saw a big jump in part-time employment for economic reasons, i think we will see that trend continue. i think these employees are being honest. i think it's a pretty logical thing. i can only make x amount of business. if you keep extracting it, i have to make adjustments. if i can pass it on to customers, fine, if i have to fire people it's hard to get it right when the white house won't be honest. they said they don't know how many people have insurance that didn't have it before. >> that is prepros truss. but be that as it may, charles is right in the sense that this whole thing was built on a certain premise it was not sold properly, incorrectly, in a way that zwooid divided an election,
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it's crazy, at the end of the day i'm a simple country reporter. >> a country queen? >> thank you. we have to believe the white house that they control all the data basically they control 'spin. i think the horrible things is that the media is buying their spin. there is no there is more investigative reporting about high frequent sip trading. >> the numbers are available. you have as to hunt around for them. by all meanings i would sell everyone here and outside, report that figure then get into how many are abreast of this who didn't have insurance before? how many are paying, which is crucial. how many are young? you start going through this, whether you quote rand, the number is much lower, leading
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aside the myelograms more keep them simple. it is nowhere near 7 million. >> frankly, i fine it comic am you so easily dismiss those estimates. you say it's not true. so the next time some numbers fall in your favor from the cbo, i expect you to dismiss that at all. >> you guys are cherry picking numbers. let's talk about the fact that the vast majority of them got covered with a different policy. >> different policy? >> different policy. they could not keep their old plan. >> uconn seeded, you are right about that. >> you can see the vast majority including me who got their policies cancelled immediately.
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>> i'm actually paying less. >> here's what i will concede that you have conceded that obamacare is built on a lie. >> you will not concede. >> uconn seeded obamacare was built on a lie. the premise is you have admitted the president got you to vote for the party you worked for lied. >> uconn seed my point. >> will you let me finish? republican or democrat a liar. the office of the presidency, i will not respect the office that way. >> i have never called george bush a liar. i challenge you to find an example. >> i will concede this point that it is not the numbers we have been told. i think it's fair to say it's
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not the way it's presented. they will report the president's stuff, this other stuff, in the meantime, did any of you see this? >>. >> currently, he said, you know, early to bed, early to rise, he did not want an institution overseeing it. i'll let you know more on what that is saying. they aren't sure any of the founding fathers had any in the early draft of the constitution, in the meantime, after that, we got this, the heat on gm. what about the government, what about that after this? woman: everyone in the nicu --
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. >> we are live from america's news headquarters. good morning, at this hour, we are learning more about what may have led wednesday's deadly shooting at ft. hood, investigators say there is evidence ivan lopez argued with workers shortly before that shooting. he was told to come back the next day. he then allegedly returned with a gun. hitting 16 others before turning the gun on himself. it may be april, the men's basketball tournament is winding down, number seven yucon takes on top ranked florida. number eight comment i'll see you again in 30 minutes with more headlines.
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>> something is very strange that such a top employee would know nothing. >> the other thing we now know that it would only cost $2 to repair and it was apparently $2 too much for general motors to act despite a decade of wanting. >> this is criminal deception. >> general motors ceo taking a bipartisan beating over that delay. what about the government, the delay was going on, taxpayers have what amounted to a $50 million deal. the government is backing off on this. >> i think those predators who voted for the bailout. they stop wagging them, talking about the culture of coverup.
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you invested. you bailed it out. >> i was in favor of the auto bailout. i find it comical these senators sit up there and are lamb basting the new ceo and scolding the company. you foe what, you owned it until the end of last year. a part of it. it's a joke. >> investigators can see the key went from running the engine to the radio. there are over 100 complaints, more complaints about that than a toyota corolla, which the government insisted it was a bomb. they told people not to drive. they took them, made them recall this stuff. you got to ask yourself, why did you look the other way? >> the idea they deliberately put out a vehicle that was a piece of junk that people decide from it.
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now they need tens of billions of taxpayer dollars, i wonder if someone knew this and looked the other way. >> i have to say the national highway traffic administration in 2007 had a defect panel that convened and decided to take no action. so some evidence was certainly in the government's hands if there was a problem there. >> there is a moral hazard, that's the notion when you bail out a business, management gets fat and happy and takes more risks. the banks were bailed out many times, lower interest rates, small bailouts, you name it. when you have a business bailed out, management becomes fat, happy, complacent, stupid. that's what this is all about. >> i must pause, we don't know if they are deliberate. >> i understand, i understand. gary, the bottom line is this. it's going to give people pause
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about gm going forward, would you as a savvy investor think twice about buying gm in an environment where people are at least a little bit more cynical about the company? >> i think three times, look, if anybody at gm knew of this, i think it would be a criminal cause there. this is all bad news, as far as the bankruptcy goes i think it would have been done, unfortunately, a different way. nothing is coming from this. >> the bankruptcy laws in this country not so much gm as an example, they insulate you entirely from criminal liability. >> this wasn't a classic bankruptcy, that we funded. >> taxpayers funded this, i agree, i support it from the ripple effect from the economy, do i have sympathy for xm over-? of course not. >> we could have done a prepackaged bankruptcy, that was
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then, this is now. in the meantime, isn't this rich? a rich couple getting food stamps. they were on the run until america's financial superhero ran him down. . >> is that you? >> cavuto. built to scale. [ chilen yelling ] [ telephone rings ] [ shirley ] edwa jones. this is shirley eaking. how may i help you? oh hey, neill, how areou? how was the trip? [ male announcer ] with nearly 7 million investors... [ shirle] he's right here. hold on one sec. [ malennouncer ] ...you'd expect us to have a highly skilled call center. kevin, neill holley's on line one. ok, great. [ male announcer ] and we do. it's how edward jones makes sense of investing. ♪
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poor little rich couple. what this wealthy pair did to about business internet?
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you've yacht to be kidding me. yacht. a couple allegedly collected welfare and food stamps living on this $1.2 million yacht. when we reported, the law decided hours after a manhunt was on, this couple behind bars. you're welcome, america. they had big homes, expensive yacht while claiming poverty, ripping off the government. the couple facing felony charges. gary, you do not have to thank me now, but what do you think of stories like these? i think we are going to get more of them. >> here's the problem. there are over 80 national welfare programs doling out almost $1 trillion. there's too much money sloshing around. that's how you get this type of fraud. it took seven years to figure out what these people are doing. there is so much of this out there in the tens of billions of dollars. we need a fraud czar when it comes to welfare. >> i can't do this alone. >> first of all, i have to say
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cartoon cavuto makes the ladies swoon? >> built to scale. >> i know. i've seen in the flesh. from what the government reports, they say there is less than 1% fraud in the snap program. >> right. >> dagen, if you like some government statistics, you've got to like all of them, right? >> dagen didn't say anything. >> whoever said, yeah, right. gary, sorry. that's like saying you can't drink alcohol because there are bad drivers out there who drive drunk. reality is there will always be bad actors. throw the baby out with the bath water. >> prosecutors are on the case. you had a record number of people on food stamps, on disability, they are cracking down on fraud. january and february this year is a big disability fraud bust. about 128 people were picked up. it was former cops and
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firefighters here in new york city. >> the bigger the numbers get, whether 1%, 10% waste, crime, thieving rule of thumb, you'll have more cases. >> pumpkin spice latte man to the rescue. it should have been an "l" not a "c." >> it hate you. >> when you got welfare, you had to prove you needed welfare. you don't have to do that any more. they literally hand you the check after the initial interview. in the old days they kept checking on you. >> gary k. has it right. it's a gigantic fund. i think the government deliberately puts loopholes in it because people on welfare think they are getting over. you stay in poverty and these are sweeteners never to help you get out of it. you can't put $1 trillion out there and everyone doesn't take abuse of it.
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>> disability fraud is my favorite. people post videos of them zip lining and stuff. that's how they get busted. >> latte man will be here. >> will it get worse? >> it's not bad now. a couple of bad actors don't poison the pie. >> it's not bad now. enjoy the radiation. my thanks to all. up next, the market in march. charles, march 1st picked zillow growing more than 10%. since then, don't think you can top that? watch him. he's almost as much of a superhero as i am. we asked people a question,
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how much money do you think you'll need when you retire? then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old. i'm going have to rethink this thing. it's hard to imagin how much we'll need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement. ♪ more winners from my buddy charles payne. >> kansas city southern. stock waxed because of the governor in mexico. they'll benefit and opening in panama canal. gtat, apple iphone 6.
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people out there are spending money. i think the stock makes a good move. >> gary? >> just be careful of this gt advance. i think the froth is coming off this market. >> be profitable, be well. see you next week. ft. hood, texas, in shock from yet another senseless shooting. folks asking how to prevent it from happening again. the last time tragedy struck in 2009, the pentagon spent money on a sweeping review. it resulted in beefed-up security measures and more restrictions for firearms on base. sadly, wasn't enough. is the answer to do more of the same or try something else? this is "forbes on fox." the

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