tv Cashin In FOX News March 17, 2012 11:30am-12:00pm EDT
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one business block continues with cheryl casone and carbin' in. >> something you want to get off of. but the government new ad campaign and telling americans that they should want to get on. >> i love to take my grand kid toz the park. if i want to keep up with the bundles of energy, i have to stay healthy and eat right. that is a real challenge. but that's where food stamp benefits come in. they help me eat right when money is tight. >> you look at margey, she looks amazing. >> she sure does. >> i wonder how she stays fit. >> what is her secret. >> she said food stamp benefits help her eat right and she stays active. >> i didn't know they help people our age. >> they help a lot of people. people you know. >> wait, you use it, too? >> yes, do. >> there you have it
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government is marketing entitlements, are you sold? , i am cheryl casone. welcome to carbin' in. wayne, and johnathon and tracey and john, and also joining us from the economic policy institute. christian dorsey. and so welcome to all of you, tracey, start with you. is it bad that the government is promoting food stamps. >> cheryl, is it an awful state of affairs. that could be a adfor nutrasystem. heck, maybe i would should get on them. we have seen 40 percent increase in food stamp participation since president obama is in office it is awful that we promote hand outs. why not get out there and pay for it yourself. and just because you have food stamps doesn't mean good food choices. cubuy birthday cake and candy.
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>> wayne, 45 percent from january 2009 to december. it is a huge increase in the amount of americans on these. are we going in the wrong direction here? >> you talk about an increase. in 2007, we spent 33 billion on food stamps and in 2011, that was was 75 billion. i looked up on the internet . i looked up snap. that is a program for nutrition as it were. i looked up on the internet and snap has to do with rescuing dogs and cats in houston texas . makes sense. and i am not sure where all of the catchy phrases come from and why they are promoting it. >> and most outrageous point. taking taxpayer mon yespending it to advertise spending it to advertise a program where they are giving away taxpayer money. i don't get it. that is the government gone
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bezerk. >> we are advertising when we have already got 46 million people on food stamps. >> hopefully it is destigmatizing something. in order to get food stamp benefits you are to look for work dependent child or elderly or disabled. the reason we spend more on food stamps, we had a increase in the recession and poverty. this is an efficient program. low administrative cost and the money goes to people in need and they spend mon neprivate business and that multiplies about eye 50 percent in economic activity. >> 75.3 billion program. christian mentioned cost. it is huge. >> a well documented goes to fraud and goes to people in need. that is the problem. government is not a charity. we are reading an average of 140 per month for recipients
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that is money to wayne's point gets taken away from a citizen that earned it and gives to another citizen that don't. the adsaid irk me. they legal jitize the welfare state. it is okay for the government to buy your food and tell you what to eat. >> john, you are one of the healthiest guys i know. maybe it is a great diet to go on food stamps. >> i have to agree with christian dorsey, congratulations by the way, christian. >> thank you. >> the problem we have it is right on poverty lines. you have had 32 million people and go to 46 million in the last two years. that is on poverty lines. john that you know is right about fraud. you need to fingerprint fingerprint -- wait a minute johnathon. let me finish. you don't need to spend
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something unless it is helping down the line. they have nothing else to eat. and the problem is, that many people are in poverty. >> john. the facts don't reflect that. look at mississippi, john. one in five people on food stamps it is the fattest state in the nation six years in the running. not taking anything away from mississippi, don't tell me we need food stamps when we have an obesity problem. >> i am not saying it aleviates poverty. we are throwing money at the system so people have something to eat so we don't have riots and extending long-term unemployment don't end up with like greece. >> cheryl, i understand we have to feed the people that need to be fed. but under the obama lesson they have made it easier to qualify. yes, you can blame the
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recession for this but not all of it. the have lessened and more people fall in the welfare net. that's what is so awful about >> wayne, when you look at waste and fraud. and obviously there are americans that need help . they need assistance. but to those who are taking advantage of the system, are we doing enough to deal with those folkings. - folks. >> let me read you statistics here. first of all. i love this line. this is a food and drug administration. it takes seriously the responsibility to make sure only families who are actually eligible r the program participate. and that begs the question. do they not take responsibility at all? why would they make a statement like that. they reduced the payments by 2.7 billion. reduced improper participates. and 1.3 billion in deling
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quent clamings it is outrageous. another federally debacle where they don't know what they are doing and spending money crazy. >> christian, one thing that has changed, the stigma of food stamps have changed because . un. a horrible recession and downed economy. that has changed. but do we need to right the ship now. >> you mentioned it now. we don't have higherates was un. people look for example work and reduce poverty. you don't have them receiving benefits and spending. the solution is robist labor activity and wayne the end of the report, the food stamp program has the lowest rates of error of any government program in the history of government programs. so it is efficient and effective. >> but, all due respect, i know that christian, but you
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are starting out with an abysmal data system. and the government is out of control. >> and that is because they changed the rules. >> it is not - (talking all at once.) they changed the rules and allowed more people in it and able to bump up the fraud numbers. they are fudging the numbers. >> johnathon. >> people need help in this country and at the same time do we want them dependent on the ogram long-term. >> cheryl, if you think people need help. help them. i help people all of the time. that's not the role of the federal government. federal government is protect your rights to help you protect the needy and tick to that and let the rest fall by if you will. >> coming up, everybody. double the price. and new estimate for the president's health care law that is making taxpayers sick.
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we warned you about it. no budget no pay. there is a new push in congress to take away the lawmaker's paycheck until they do their job. can it innocent fair? [ male announcer ] if you believe the mayan calend, on december 21st, polar shifts will reverse the earth's gravitational pull and hurtle us all into space, which would render retirement planning unnecessary. but say the sun rises on december 22nd and you still need to retire, td ameritrade's investment consultants can help you build a plan that fits your life. we'll even throw in up to $600 when you open a new account or roll over an old 401(k). so who's in control now, mayans?
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>> i don't want to say we told you so, but we told you so. they absolutely know that health care is going to cost more and decrease care. >> your costs will go up. >> these costs are off of the charts. we have seen the numbers balloon this will cost us more and more . fast forward to this week and in the health care law it will cost 1.8 trillion dollars. nearly twice as much as originally estimated and 20 million americans being lose the coverage because of the
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new law. johnathon you and tracey and wane warned viewers that this will happen. johnathon victory lap? >> oh, no, not at all. i am not taking a victory lap at all. we talked about it for a year over and over and over again . chris frank and barney isute of the door. you don't have to cash in the analyst. whether it is medicare and originally estimated nine billion and. and government programs entitlement programs always destroy the free market because they destroy man's ability to think. it is higher cost and no service at all. >> wayne, should we be surprised it cost more than estimated. >> of course, you shouldn't be surprised. government never made a program that came in on budget
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ever. i mean, you know, you said part-a medicare. it is a dod d-frank bill x. estimate was nine billion dollars. and it is 110 billion and 10 times the costs and they can't do anything right. why would we expect it? we shouldn't be surprised. fannie mae and freddie mac. they don't do anything right and it is a dumb system and get rid and get the federal government out all of these things and let somebody who knows how to run a business run it. >> looking at cbo reports. 21 million people will not get coverage from the employers and it is it a big shift for companies whether or not they are willing to offer health insurance and they are not doing it. what about the cost of that. >> they said 20 million is the worst case sceniario. it is three-5 .
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they have no insurance options and the health care law provides others k. and you are guilty of not reading beyond the first line of the report. costs went up and so have the revenues and on net, health care law will cost less than what it was projected a year ago. the fact of the matter is, cbo still maintained that the health care law will reduce the deficit over 10 years and more substantially thereafter. if you really want to look at a government company that blown up in cost. look at tax cuts that were projected to cost a quarter of our projected surplus and put us 1.7 trillion in the hole. >> christian, you can't pick and choose. we'll trust the government because they fit you and not the bush tax cut governments it is the same government.
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1967 12 billion and 1990 it was 110 billion. you missed it by a factor of 10. the government can't add numbers. >> hold on, hold on, tracey. he's correct on the net-net scenario. over all what the american people were promised under a trillion and now over. you can go in symantics and he is not wrong. but over all cost many taxpayers are having a problem. >> it is not done and stuff is coming down the pike that we don't know how it is going to affect our wallet. it is easy to spend somebody else's money. these are taxpayer dollars that we have out there. you have a corporation with a chunk of change. they want to know where the money goes. hey don't spend it our
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congressal leaders had to dip in their own pocket to pay for obama care it would be different. >> not necessarily the costs many multiples times more than the government. but the destruction of free market for health care in this countryy. it is government socialized health care they don't go merck and invasion that saves lives . having everyone covered is not such a wonderful thing if there is no health care to deliver. that will be the end result with obama care. >> and one of the reasons it has changed, it is the penalties that are put on individuals and businesses. that is another can of worms. >> it does really matter. >> we have a country that is elected responsible people to represent us. and they haven't had a budget sce 2009. these are people who are supposed to look out for our
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best interest. if i ran a business like that i would be broke. they had to bail out general motors and it is crazy. >> wayne, you have begin me the perfect and segway to the next segment. already. because coming up. you wouldn't get paid if you didn't do your job, so why should lawmakers? and now a no play plan congress if they don't pass the budget. this is not fair? any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. [ male announcer ] remember when you were a kid?
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commander is urging afgance to use force to kick american troops out of afghanistan. anti-sentiment have grown. and robert bales accused of those murder and brought back to the u.s. and held in a military prison in kansas. the political focus is on missouri rick santorum is the only gop candidate campaigning there and mitt romney is in puerto rico. we'll take you to celebrations for st. patrick's day . mike huckabee and alen and others will join us on america's news headquarters. i hope you join us then. stay with us, everybody. no budget and no paycheck.
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a new bill will prevent lawmakers from getting paid if they don't pass the budget. >> you love this. >> we have the largest economy and we haven't had a budget for three. i don't care if bush or obama. sun is in your eyes and shoes are untide. you don't need to vote them out. take their paycheck. they don't deserve it if they don't pass the budget. >> wayne? you guys are wrong here. don't take away the paycheck and they will run out and steel more money. and they will be beholden to the lobbyist and trying to get money from everywhere else. they are devious and they will get it somewhere else. >> christian, i mean, look. what do you make of it.
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we ought to cut the pay of frivolous bills. many things that congress needs to do and passing a budget is one of them. just because you pass it doesn't mean it is good or responsible. look at congress. refused to pay the bills that it authorized and the debt ceiling debate. they should have lost paychecks for that. >> tracey, if we didn't come to work we wouldn't get paid. >> coaches get fired when they don't make it to the championship. maybe congress should, too. >> they are not motivated. they go to washington for the power. of balanced budget. it is a stunt for contract of america. there is a change of philosophy. if you stick to the constitution. remember that all chest nut. it is half of the government
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spending go to entitlement. that is not well. stick to the constitution. you don't need the legislation. >> it is an interesting idea. christian dorsey, thank you for being here this week and congratulate you on being a father yet again. we'll see you when you come back,! >> take care. and coming up you want rent prices are soar so are the number of foreclosures. and this being be what the housing market needs to rebound. another laptop bag or hires another employee, it's not just good for business, it's good for the entire community. at bank of america, we know the impact that local businesses have on communities. that's why we extended $6.4 billion in needit to small businesses across the country last year. because the more we help them, the more we help make opportunity possible.
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without the stuff that we make here, you wouldn't be able to walk in your house and flip on your lights. [ brad ] at ge we build turbines that pothe world. they go into power plants which take some form of energy, harness it, and turn it into more efficient electricity. [ ron ] when i was a kid i wanted to work with my hands, that was my thing. i really enjoy building turbines. it's nice to know that what you're building is gonna do something for the world. when people think of ge, they typically don't think about beer. a lot of people may not realize that the power needed to keep their budweiser cold and even to make their beer comes from turbines made right here. wait, so you guys make the beer? no, we make the power that makes the beer. so without you there'd be no bud? that's right. well, we like you. [ laughter ] ♪
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it. >> i hope you are right. wayne rogers. you are looking for dividends and one that increased. newcastle it is a reach and check it out. >> johnathon. >> stock prices are going up and interest rates at the highest point. tbs. that goes higher with long-term interest rate. >> you are bullish on the markets, johnathon? >> i am bullish on stocks and bearish on bonds. >> quick programming note. neal cavuto will have live coverage this tuesday first on your role and just before eight with the biggest names everywhere. neil is following the results and impact on your wallet it is not being red or blue. knuyour green. that's it for the cost of freedom. all of you have a grea
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