harry reid will tout another round of green programs. are they working? >> they are not. they are costing $200,000 per job. compare that to the american venture capitolindustry. it is 1-10ths of the cost in the private sector and the government is not keeping pace to what is going on in the world. by the time it funds the company it is way behind the . by the time solyndra got funded the chinese price was far behind what solyndra could batch. and so, you know, there is a pave involved . and rick, indeed, the government and senator harry reid are doubling down on

let's be realistic here. it is a fact of life. and if we do this rich's way. we would be raising the white flag and china is spending enormous amount of money subsidizing the solara we want to have our kids to work for the chinese or own the companies. if we end up as an also ran, this could not be a good thing for the united states. >> and it is not just cars and batteries by the way. the government claims to have got 750 workers .

it is hurting the recover. it is a coast for kilowatt hour. oil and natural gas and coal all below a nickel. >> eventually these things will pay off. >> we can't do it right now. >> the president lost the flotlite line. inconvenient truth is in. when you are driving and you are see a historic crack up. and one of the worst down turns ever. you don't do reckless moon shots on fly by night companies that will not return an invest create jobs. if it is such a great program

why did the president himself say i understand that this is not our program per se. if it is so great, why is he walking back away. >> double down on a beat tough cell. the job figures doesn't show it to be working? >> oh, yeah. this is just beyond sad. the obama administration said the investments are stimulating the economy. if that would be true, they would be profitable investment. and if they were profitable they wouldn't have to make the investments. we are sending limited investment and to rick's point about china . if they are so great we'll

reinnovate. >> i find the consideration so odd. i don't understand us. we have always subsidized energy to stay competive. >> what energy? >> now we are in uation where countries are subsidizing the next generation of energy. you want to wave the flight flag of surrender. >> no, do it in a smart way. keep irerational hope alive. this is misleading and thoughting the bailout of general motors. and that may not be so. that misled the american people. all of the talk cannot be proveyen. and same thin with bain

capitol you can't prove they lost or prepared jobs. they have hundreds of years to make it right. >> rick, go ahead. >> it is the execution . it is the execution that is so flawed here, rick. there might be a place for government investment, but should come out of the defense department. that is where the internet was first funded. but the companies that people who built company did it in the private sector. i agree about the execution . you are giving money to obama administration donors who know know nothing about the. >> hold on. rick, people argue about the coal is subsidized . they have been some what in the past by tax breaks.

we know that they produce energy efficiently and they are profitable way of creating energy. we don't know that about solar or wind . there seems to be to the contrary. you can say that about any future technology investment. >> that's balony, rick. >> we do know that the price of solar is down 70 percent. it is going in the right direction. >> the fact is, in the case of wind. we have a four billion dollar program rather than creating jobs, we saw them shrink from 7200 to 300. there is a lot of evidence that they are not efficient. >> they are not efficient . rick is contradicting himself. if the rest of the world is subsidizing what is not work

negligent market place. let the world subsidizing . if if it turns out it works import them. if they are miserable failures we don't waste money. >> and the bottom line mike is that we desperately need jobs in the nation . we need them even if that means getting the fingers dirty with coal. >> innovation can coal and natural gas is superb to what is happening in solar and wind. that's why they are more efficient. >> rick what is more vital to the nation. invest in unknown energy or going into carbon energy sources? >> you have to do both. you do have to worry about it

today. how do you not worry about it long-term. in 10 years and there happens to be a democratic president and lagging behind. how were we ltd.ing the chinese own us. >> no. no. no. >> hold on e-mac. >> u.s. families are seeing jobless rates rising. that is what we need to address now. >> that's the last word. it is not just in wisconsin. another fight erupting over public pension in another midwestitate and could decide if all of our tax dollars are getting higher. they sent me to argue for them. i am trapped. i am trapped by our rules . the word that we use is jubilation.

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after powerful thunderstorm swept through the area. a confirmed tornado triggered widespread damage and injurying three people and knock out power to thousands. it was between baltimore and dc . major develop ams over seas. former egyptian president hosnimubarack sentenced to prison today. state media reporting that the 84 year old suffered a health crisis being transported to a prison in cairo. his sons were, quited - aquited of the charges sparking a courtroom scuffle. and now back to forbes on fox with all of the headlines. log on to fox news.com. tempers are not only flaring in wisconsin.

take a look. >> all of the damn time and come out here in the last moment and i have to figure out how to vote for my people. how insane it is. and you should be ashamed of yourself. >> wow, that illinois lawmaker is ticked off with a new bill to use local taxes to shore up underfunded public pension. is it time to make public workers pay for their own benefits. >> here's so angry and across the country taxpayers are waking up they are not living in a democracy. the state constitutions have it rigged against them. new york california and illinois. the constitution said you are not allowed to negotiate a government pension that are wallowing entire city. detroit pension costs are surprising what they put on workers.

our taxes are going up. . to fund the fat cat pension where people retire and three-quarters of the worker pay. sweet deals and we can't afford it >> it is okay to take away pension credits for years not yet worked and okay to make state employees chip in and that is fair it is not fair or legal or constitutional to take away. >> >> you have federal workers with a bigger pile. >> they were promised too much and that was a big mistake. what if you put money in the 401 k and your employer didn't want to match it can't take the money. this is money i put in there. and it was a taxpayer that put the money in there.

a state like california put it over the investmentings. i want to spend million on my public service. and that is making a hard choice . last year in los angeles. mayor sat down and renegotiated the exiting contract. it applies to the local town. there is a reof unicontracts.

i am an opportunity for 30 years. don't tell me city of la is exempted from the california constitution. >> we have rich who is another californian. your point is that it is worked out on a local community basis. >> yes, i suppose they can. they are not in illinois. that is the pensions are 12 percent . every credible fund manager without putting your money at risk. it is renegotiated. >> and the point is, it sucks for the government workers to have to take the medicine. as rich pointed out we were expecting returns that don't

exist these days. if you can't deliver you can't deliver. that is like saying we will not pay it off and we don't feel like it. >> i applaud rich's passion for fixing the pension. >> i love it and here's the deal. he should take the job. and here's the deal. gao already said contractually you can changed for 401 k's that's the issue. >> i think we should have co-chairs. rick unger and rich should be the co-chairs. >> i would partner with him. >> thank you. and rick will put it all on solar. that's the promise.

fight over taxes and public taxs and unions all coming to a end. and neal cavuto will be all over it. we'll hear from government walker. we'll have a new time in prime time. up next right here. giving money to companies like solindia. man: 1939 -- my parents ran across an ad for a hot 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.

>> u.s. banks lending more mon yewhy u.s. taxpayers ought to be worrying. and a lot of folks selling and

>> despite the rides over seas and u.s. banks are lending european companis and banks a lot more money. try 18 billion in leveraged loans. that is more than double the amount for all of last year. john, you say this could eventually put u.s. taxpayers at risk. how so. not because of the lending to europe but the banks are a protected class. you are asking people to be regulator it is to over see the greatest minds on earth.

this is not capitalism. this is the opposite and we don't allow failure anymore. >> rick, it happened before where they are paying off foreign banks, is it going to happen again? >> i seriously doubt it my interpretation varies. i am shocked. and thank goodness. we don't have to worry about it. get the provision and it will all be good. and i am concerned about europe . the world is awash in dollars. europe has a boor business plan and not liquidity . the leveraged loans are going to formula one. and i am more worried about the federal reserve. and all of those problems. do we want to rick our money.

it is not a disaster . and they are not as innovatative and they are better capitalized. every bank is too big to fail and too politically connected to fail. you require them to have more than they do now. repeal the volcker rule. and and this is an acess to our money in the federal reserve. thank you very much. consumer confidence plunging as the clock keeps

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>> it is pricey it invests in all sorts of things . also garage disposal and very important company to look at. that makes facebook lookk. >> you are going for emerging markets. >> i have lost this can cheap index fund. >> and what do you thinkbout

the dispotic nation. >> it is trading in the same levels as it was in may 2006. >> that's it for forbes on fox. have a great weekend. >> consumer confidence taking and the jobless rate rising and there is massive tax hikes in the end of the year. do we need congress to extend them now and bring back consumers now. welcome to carbin in. wayne rogers and johnathon and tracey layfield . juliab epistein. welcome to all of these. tracey, should we extend the tax cutters and commit to it and get it over with. >> unfortunately it is not g