now? he said index of equities. i'll take mr. buff fess's -- mr. buffet's word for it. >> if americans believe inç this country again it will not happen. >> we could go through a drag period. >> we've got 11 years in the stock market >> neil: ben, you think that changes? >> i don't know. very long periods of time, longer than i have to live, you will make money in the stock market. . we are not doing this because we want to. there is no ideological zeal in doing this. we are doing this because we have to.ç >> in britain speechest spending cuts since world war ii to the tune of 130 billion dollars. in france violent reactions to lawmakers plans to raise the retirement age by to years, to

62-years-old. here in america, 136 democrats fighting that kind of reform. sending the following message to president obama: we oppose any cuts to social security benefits, including raising the retirement. we also oppose any effort to privatize social security in whole or in part.ç whose got it right, europe or us? hi i'm david asman welcome to forbes on fox. steve forbes, lizzie phblg donald, i need -- mcdonald. steve who has it right? >> in this case the british have it more right than we do doe. the brits allow some sort of private option we need to go that way especially for young people. that way you can turnç that liability into an asset have tax monies go into people's personal accounts with proper

rules and diversification. we have to if that way or we crash. david david stephan do we have it right or do they have it right? this british plan is going to give them a nasty recession. they are taking on too much too quickly. social security isttttttttttttt+

more will absorb all of federal revenue? we are in trouble and we need address it now before we get to that point this is a crisis. >> mark, certainly medicare is in trouble, no? >> medicare is in trouble but to be thinking about cutting is sheer lunacy david. we have the largest segment. population now getting ready to retire and 77 million americans now we are going to postpone retirement benefits. let's cut your benefits. what is that gonna do to the when -- do to the economy when people stop spending. >> sheer lunacy is that what the u.k. is on the path of? >> i know a little about the u.k., i was there last week. what america is on the path of is told magical thinking.

show me a [ talking over each other ] >> everybody is to blame quentin i'll go with you on that that. >> in england people making over $70,000 don't get a payment on their child now doubling school fees, cutting defense, cutting 500,000 government workers. specific targeted things hitting all ideological sides. we can't get close to that. >> emac the reason why we focus on democrats is everybody who wrote that letter that i quoted earlier were democrats. >> yeah that's an important point. the deficit is a bipartisan creation. what i love about in story democrats and others in congress are saying to europe you need spend more which is like somebody with osteoporosis advising somebody with arthritis to take on a huge anvil of spending on their back. this deficit is the size of india the spending we are seeing. back to social security, yes

privatize it. president clinton wanted that. daniel patrick moynihan and that got sidetracked. we're not talking the whole thing just people taking control of their own money. >> emac the last point is the strongest. people claim the republicans want to destroy social security, they want to provide an option, a , right? >> yes and a mild choice people should be allowed to put 6, 7 or 8% into their -- by the way galveston, texas three counties pulled out social security in the early 80s no risk those folks are retiring with benefits 50%, 200% higher than those who stayed with social security. privatizing is the way to go with people to get more investment capital but to have higher benefits in the future.

>> giving individuals more choice to decide whether they want to opt-out of the currencies tell. >> it will not be a higher price. the it will be a big honey pot for wall street they will feed people the debt and put them into high risk investments. >> if i want to put my social security account there, shouldn't i have the right to do that? >> you should have the option to do that. >> but i don't. but i don't have that option. >> it is going to remove the government from it. >> good. >> it is not a good thing. [ talking over each other ] >> david, your desire to say nice things about the republicans has taken us from the main point, cutting the deficit. in their platform all they did was talk about waste, fraud and abuse. we have to get specific and share it. >> exactly many but you don't have a problem with providing that option for people who

want out of current system, do you quentin? >> if people want out of it, you can have out of it. but you have to have a graduated way to do that. right now the young pay for the old. >> it will take congress off the addiction of taking our social security fund and spending it on whatever project they want going on since the 60s which the depend crasses launched unlbj. >> david this is one of the great scams of all times. the government is taking in two dollars of taxes and only paying out one dollar of benefits and social security. when they take in social security taxes today, they have a surplus now they spend that money get an iou from the treasury, treasuries got to go out in the market and -- >> it is supposed to be a box. they open it up all the time, grab the crash. -- grab the cash. >> victoria, what about the transition?

if you want to allow people to opt-out you have to design that carefully, no? >> yeah, you need to give people a voluntary opt-out if we add higher what the u.k. is doing we need ask is everyone entitled to social security? should it be a program -- that's what they are doing in the k with child benefits now save money that's a tough question. it raises a lot of issuesy,vñ bt it is worth asking. >> i'll tell what a scam is this discussion is silly. fixing social security between we take all of your best ideas is not going to give us the booming economy we need. the idea britain's cuts to entitlement programs going to give them this magical boon is nonsense. [ talking over each other ] >> one at a time! hold on. go ahead e max. >> if you do not do this reform you will have baby boomers and seniors

increasingly poor. [ talking over each other ] >> higher taxes. >> protect the retirees and give them their money back they paid in the system. >> that argument is not silly at all. stick around for this big labor busing members to the polls to vote early. why a law in 22 states is now their target could your job become their target too? >> welcome to the new white house jobs bill. they say a picture tells 1,000 words. how about nearly a billion in your tax dollars. that story coming up. and it goes out into the world like fuel for the economy. one opportunity leading to another... and another. we all have a hand in it. because opportunity can start anywhere, and go everywhere. let's keep it moving. ♪

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. >> good morning i'm jamie colby. in western afghanistan, there's been a bold assault on a united nations compound. officials say homicide bomber drove a car packed with explosives into the compound allowing three other men dressed in women's burqas to enter. african security forces killed

those men. three afghan guards were injured. >> war on words on the airways. president obama warning voters of a gop take in congress. south dakota senator thune blasting the president's economic agenda. you only have to be one place for full election coverage right here, join chris wallace 12 noon eastern. i'll see with you kelly wright at 1 p.m.. now back to forbes on fox. have a great day. . >> david: the white house taking another stab at stimulating job creation using a billion in tax dollars to cleanup the mess left from the gm bailout. hilda so lease -- rich, you say it is a sneaky stimulus

plan that is is going to waste more tax dollars how so? >> this administration thinks spending two million dollars of taxpayer money to get one new job is a good tkhaoefplt is an obvious political employ with the elect coming up. -- you know it is not going to be open for open bidding it will be closed ing to the unions of choice. >> david: emac? >> this is nothing new. if we don't do it now those people who get sick around those sites the residents around those areas will have to cover health costs. i say do it now. i say clean it up. >> david: steve, is this a serious program or a sneaky stimulus thing? >> no, it is a stimulus thing. let private companies do it on their own dime that's fine. is this gonna help high-tech

start-ups? help small businesses get credit and create jobs? going to help exports? no. just an election year employ. >> i think rich and steve need to buy in this as a business in business creating jobs costs money. gm isn't a high-tech start-up it is a big company that's depreciating assets, actually liability toxic waste you got to get them out. the government is the largest shareholder in this company it is a good move that increases the val company. >> david: is this a good move? >> the obama administration can't have it both ways. on the one hand they want to say their bailout of general motors turned night a great company. if it is such a great company let the future shareholders pay for. [ talking over each other ] >> private industry clean it up, it will be more efficient than the two million dollars

-- [ talking over each other ] >> mark go ahead. i don't know from the private industry necessarily all that efficient considering the waste they have when they are on the government dole. something needs to be done. look at detroit, a third of the city vacant, boarded up. we need to clear out these properties. the best way to do this is to get the government involved. the private sector isn't going to do it. the government has to assume the risk. >> i don't see anything that prohibits gm from prohibiting the private sector to do the work. if you don't cleanup these sites those residents will continue to get sick and their housing values will continue to plummet. the tax base will continue to be eroded in places like michigan. >> rich, isn't there something -- >> how gm gets government money to do it. ford, the private company that didn't take stimulus funds doesn't.

>> that's one of the supreme him sees of this administration. look -- extreme him sees of this administration. if the economy was growing at 40% which it should after recession there would be no need to shutter plants. why doesn't the administration concentrate on growing the economy? >> michigan needs giuliani as governor in the early 90s new york was an economic wasteland he cut taxes, reined in spending, the city came back to life. michigan has a government that has beens who toil business. >> some days it is time for big vision and some days it is time for little specifics. it is good for the business, it is good for the area, it is good for gp. the u.s. is a shareholder. i'm liking it. >> if for business let business do it. here we go with we are going

to socialize the losses and let the capitalists walk away if there's a profit. why should the -- [ talking over each other ] >> emac go ahead. letting the perfect be the enemy of good. then cut the entire defense industry off the government dole. that is not going to happen. government and private sector work hand-in-hand very well sometimes. >> defense is one of the things government should do. running car companies is not. private companies can clean toxic waste site better than a government can and create real jobs not phony government jobs. >> david: that's to be the last word from the boss. first school lunches, then school breakfast. now school dinners? a newnan any state plan that some say won't only destroy american tax dollars it will destroy families too.

dive kids now eating breakfast -- >> david: kids now eating breakfast, and dinner

>> david: the government is now dishing out dinners to school kids. it is posed to help keep kids healthy and unhungry. neil you say it is unhealthy for families, why? >> i have a friend fervent obama supporter teacher for 30 years. he said first lunches, breakfast, preschool, afterschool now dinners. he says the result is that parents drop off their kids and feel no response ability. how this helps families is beyond me. >> david: victoria is a

relatively new mother. you think it is a good idea, right? >> well, the real issue is these kids are at school from 8 to 6:30. if they are there until 6:30 i think we should give them a meal. a lot weren't getting a meal when they got home. we are talking about really poor areas in washington, d.c.. i don't think you punish the kids for their parents' flaw us. >> david: steve that makes sense to me first of all you have food stamps so there should be food in the home. you have social workers to ferret out when parents are not living up to responsibilities. washington should be focusing on feeding kids learning. that's the real scandal not the dinners. >> david: shouldn't we get back to basics just teaching kids how to learn to read and write? >> let's do both.

we are talking about a voluntary program in a very poor city. i don't see how america benefits if kids are hungry. by the way, i got to protest against the six of us we know how hard we work, i don't recall being home with my family for dinner for a long time. i'm sure vicki and neil work too long to get home for their kids. >> david: rich, what do you think? >> my heart guess out to these kids. what are they going home to? in many cases it is bare cupboards. steve is right, if anybody administers these dinners it should not be the corrupt incompetent washington school system. they've demonstrated they are the would have in the country. this is a place for faith-based organizes to get involve . >> they have the worst test scores and it costs the most amount of money. thanks gang. then there was this. >> such a great honor it is

really amazing. for me it is the most beautiful one. >> you hear what she said, a great honor amazing the most beautiful one. i bet you thought victoria secret supermodel was talking her new 142 -- 142 carat bra. she was telling folks how much she loves the new cost of freedom website head over to foxnews.com/cost of freedom to see what she means. a real jewel, always gives you a lift, definitely not for . would slashing taxes on the one trillion in corporate cash sitting on the sidelines help create jobs? >> next, lots of worries about what the lame duck congress is going to cost.

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>> david: we are back. no lame ducks here. our informers have the stocks ready to take flight. co-why do you like it? >> its -- dins, salty snacks global brand and all over the world. >> david: do you like pepsico? >> if they are not eating i'm not going to eat this. dave day you are looking to under garments, correct? >> yeah, hanes is independent, they make wonder brass i'm wearing one right now david, it is wonderful. >> david: i don't need to know that. vicki company >> i wouldn't go up against that victoria secret model this is great stock i don't see it moving when america is not shelling out big bucks.