we have a very successful panel of guests for this special edition of "on the record," open for business. how are the health care law regulations, european crisis and our president helping or hurring our businesses. they will tell you themselves. steve forbes, carly rony, ceo and founder, content officer of xo group, formerly, the knot, devoted to weddings, pregnancy and home planning. nick waletta, a new media company that focusing on bbso business-to-business web casting. and fresh direct, a grocery delivery service. the economic indicator, steve. which one do you pay the most attention to for your business in and why? >> what do you do with the overall economy because we depend very much on advertising and if people think the economy's slow up, the first

thing they hit is marketing and advertising. fortunately, we do better than most. but we feel when the economy feel its. that's the first thing i look at. the other thing i want to look at, the numbers and hours worked each week. is that increasing? if that's beginning to increase, that means people are working more that, means business is going to have to hire more. but that number's increasing at such a pace, you need a microscope. >> greta: how diswriz generally in the last six or eight months? >> sluggish. not bad. but like a car on the highway, we are going 25 miles per hour instead of 60 or 70. so we are moving. but a turtle would like it, but went this economy. >> greta: cearl, economic indicators, what do you look at mostly? >> we are a media company as well. we are reliant on people having a general sense of confidence about the future of the economy. and we live in a bubble because we focus on the recession-proof industries of marriage and

pregnancy. and we have young people as our main customers. and they have been part of the economic growers of this economy right now. they have low unemployment. they are making significant purchases of homes. so we are a little protected. but overall, it is the same landscape of consumer confidence with the reggistry business or our car advertisers or things along those lines. we look at same thing. >> greta: next. >> we are a much smaller company. we go to craigslist. if you look at jobs posting and how many people are looking for jobs, that's an excellent indicator. so we are looking for a particular developer and it's more and more difficult to find the still set, that means things are heading in the right direction. >> greta: do you pay attention to the monthly numbers? >> i look at the macrolevel, we do. we look at technology trends. but i don't think economic indicators for a company our size in the webcasting business.

we are 100 employees, we don't feel the pain that the larger folks do. we are not an advertising model. companies pay us to distribute their content. so it's a little bit different. >> greta: jason, what do you pay attention to? >> we are fortunate that were not a boom or a bust business, being food retailing. we are sheltered at some level. but we are most affected by the commodity prices. we look at spending. and if it is want dproaing and inflation's hitting, we know that we are going to have competition. it's managing commodities and income levels. >> greta: >> greta: i imagine you are like the regular person, you pay attention to gasoline prices because have you to move the trucks around? >> we do home delivery, so gas affects t. but on the back end, the supply chain, we are pulling products, most food comes from california. you can pay as much in gas as

you pay for the product. transportation's a huge cost in the supply chain. >> greta: are you able to pass the costs on? or do you absorb them? >> there is a limit. so when gas spikes, there is only so much you can push because there is an oversupply of food retailers, so have you to be competitive. we are not happy when gas prices go up. >> greta: carl, you said recession proof. people will still get married. but the wedding will be less in tough times? >> it's interesting n. 2011, the first increase we had in wedding spending since 2008, when it was at a height. we survey our audience of brides and grooms and their family its as to how they are feeling about the economy. so the first time since that day, their feelings about the economy are more positive and they're saying, they have dropped 5 percentage points in terms how they felt the economy was affecting their spending. so consumer confidence on the

levels our audience of 25 to 35-year-olds in america, that their confidence is building. and they are investing nack, more in a life event, such as a wedding. they are pickier, for sure. we are experiencing a little bit more softness in the gift registry business. we power a lot of gift registries. the price people are paying for a gift -- their extended family is more conservative in their purchasing of gifts. >> we always say that our business is recession resistant, but not recession proof because we are in online communications. the businesses that are resection proof are the government and the mafia. i am an italian from new jersey -- >> greta: the rest of us were smiling when you say that. >> they have a similar business model. our business is somewhat resistant because when companies are struggling, they communicate more and travel less. so online technology is cost

effective. >> greta: steve, have you done any assessment with the health care? you have 1,000 employees and i assume that the national health care will have some impact? >> it's going to be huge. we spend a lot of we have a high deductible plan. we give people $2500 a year cash for out-of-pocket medical expenses so they are more conscious of what things cost. but with the obamacare, we don't know what the rules are going to be. would continue cheaper -- we are not going to do it -- but would it be cheaper to drop the expensive plan and dump it on the government? pay the fine. we will save money. businesses that have -- are feeling tough times in terms of margins will have to ask that question. if costs are going up, why not go out of it? doesn't the government want us to do that? it's a huge expense, going up and no relief in sight. >> greta: can't you see -- jason, can't you see that some

companies that are publicly hel, they can't be so magnanimous to say, we want to give the insurance when they can get a better deal with the government route you? know, they have some fiduciary duty to the sheryls. they -- to the shareholders. >> shareholders want the bottom line. we have 2500 employees and we offer health insurance. it's a very scary place. cost containment's been a huge problem overall. i think that, just as steve indicated, we are to take a really hard look at the cost issues and the obamacare, it's a scary place to see if we can afford to support the plan. >> i think at the end of the day, if the shareholders want more value than talent, we have always been very committed to providing, even as a small company, we were losing money and providing great care because that means something to my employees and my company, how well they are taken care of by the company affects their performance and i think affects

overall investment in the growth of the company. we believe that -- >> i agree. >> it's a moral imperative. >> it's in play now. the dirty secret of every boardroom is discussing what to do about health care. >> the bottom line is, you don't know what the rules are. you don't know what the costs are going to be. if you make a commitment, by golly, you may take on a liability you didn't know you were taking on. >> one of the benefits of the discussion, we have been able to communicate to our employees, this is why this is complicated. many young people entering the workforce don't understand how health insurance works. they think everyone is paying and it's free. the fact that it's a point of discussion, that people are more aware of what in fact the crisis is, which is the rising health care cost, it is going to put the focus back on everyone in the american public realizing that the foundation of it, it is us being healthy americans. that's the only thing that is going to savous any side, whether it's health care

expenses or insurance, i believe. >> but the problem with the obamacare is that it becomes very restrictive. we have pioneered this idea of a high deductible, give you the cash, let you make the decision, if you get generic, it's your money. you have skin in the game and you will be a better police person on the costs. >> we have the same program at our company. >> but we don't know if we will be able to do that. they may restrict the deductible. >> it's going to be bait and switch. let's put the real numbers on and we have health care for our imployees. individuals about $8 a year and $15,000 for a family. so average of $10,000 per head count in the company. that could be $2,000 with the plan next year. that's a significant cost savings for the compmpany. we want to provide what's best for our employees, and multiply

that by, you know, a 10 fold for a company with 10,000 employee, it's in play. everyone needs to understand that at the board level. their health care is being negotiated. >> greta: do you really understand the obamacare? i mean, that's the other thing? everyone talks about it. but if you pick up the 2800 pains or if you look at the rules that are created by hhs, i mean, how many people really do understand it? even at your level or any other level -- >> they are still right writing the rules. >> we are all at the mercy of the insurance companies. at the end of the day, obamacare or how the insurance companies are going to respond to it. >> greta: jason, how much does it impact you, the uncertainty? we don't know until a couple of weeks ago what the supreme court court was going to do. but what's the impact of the uncertainty of the health care, whether it will exist or not? >> for us, like any entrepreneur, you have to look at the control. so from our perspective, we have

only seen rising health care costs. so how do we make healthier employees? we can contain the costs through better performance and better health. so as we build our new facility and incorporating that thought, how will we build health and wellness to have lower expenses because the employees are healthier? if we apply more entrepreneurial attitudes with our incentives, that's how it affects our thinking. outside of that, we have little control. >> part of the challenge is that you don't have free markets in health care and the patient is not in charge. >> right. >> and so the patient's not in charge, it spins out of control. part of the problem with obamacare, it will restrict our ability to do these things like health savings accounts and put more responsibility in your hands. they should have equalized tax treatment. we get a deduction when you pay a premium. why shouldn't you get one? so if you don't like our plan, you are on an equal footing with

a tax play. so the whole thing is rigged in a way that just everyone's a loser. >> one of the areas of investment we need to make is that really health i.t. and figuring out how technology can be reducing the overall expenses of health care in this country. i know there are investments in the stimulus plan in order to try to prove whether that's going to work well for us. but we need to do something, not about -- all of these factors are controlling the outside of it -- >> but the key is giving the patient -- giving our people more power. there was a story the other day, doctors are charging $3.60 for a pill. if you go to the drugstore, you can pay 60 cents. >> quick break. straight ahead. are regulations putting a choke hold on american businesses? many business owners say yes. twha do our panelists think? hear next.

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>> it's an oenerrous journey. it's difficult. they wake up in the morning and they worry about everything that's going to happen to them, rather than how to serve the customer, they are worried how

they are gel going to deal with the government that's interfering with their life almost at every step of the way. >> greta: is our government overregulating our businesses? we are back with our panel of business leaders. the burning question it's are government regulations hurting or helping business? jason, let me ask you first, regulations in your way? >> we are fortunate that it really doesn't. we are not affected by the regulations. we are an after effect. for us, as a small business, we worry about the banking regulations because access to capital in a capital-intensive business affects more than regulation, other than health care. >> greta: but how many employees do you have? >> 2400. that doesn't sound like a small business. but to the extent that the trucking industry, which is an important part of your business is regulated -- >> absolutely. >> greta: that doesn't -- that industry affects them. but we have seen costs increase on trucks because of the environmental regulations on

diesel fuel emissions. they have put regulations on building the engines and we have seen an 75% increase in buying the truck cost because of the regulation. and the quality is worse because the technology is not at the speed of the regulation that was put in place. >> one of the things that would relieve that would be natural gas i. absolutely. >> but if you don't know what the rules are, in terms of production, the capital investments won't be made. >> i'm a very big proponent of natural gas, having one choice, the diesel fuel and the oil, that's a big problem. the natural gas infrastructure, if they can use that to compete, that's a huge part of transportion. that's a very important part for us. >> greta: that's the same issue, the prediction aspect. you say we don't know what the rules will be with the natural gas. we don't know what the rules will be with the health care. congress needs to set the rules for you and you can accommodate your businesses, but you don't know what they are? >> we don't.

that's why you get the crazy thing with the natural gas $2.50 here and in europe, it's $12 to $15. you would think people would put in the infrastructure to get a convergence of prices with that difference. but nobody's going to make the investments until they know, what are the rules of the game? >> greta: how about the regulations for you, nick? do they get in your way -- you say yes. >> you would think we wouldn't, we're a small webcasting. but our clients are investment banks, pharmaceuticals, law firms and accounting firms. they are all highly regulating exclude that rolls downscmil we are having to tweak or technology, features, remitting to accommodate compliance, those are zero-perceived values and we spend development cycles getting in line with compliance for existing revenues, versus taking the resources and allocating them to growing the basis, based

on what the market requires. >> greta: does that impede your growth? i assume if it edimpedes your growth, that will impede hiring more people? >> absolutely. you get the regulations -- whether it's dodd-frank -- we have to adjust our technology to that. so what happens, the r&d efforts for future products that are being requested by the market, have to be put on hold while we allocate a finite amount of resources for the government regulation. it affects top line, bottom line and how we hire. >> greta: are regulations accelerated or a natural encroachment over the course of time? >> it's a great leap forward in finance, health care, energy, massive regulations. i think you see it in the federal register. it is growing expoinentially, after 2014, when these things have to be in place. take the vulker rule, which

tells banks what they can and cannot do in trading, it sounds simple. 300 painless liter, they haven't figured it out. >> greta: how does that roll down to a small business in wisconsin and deciding whether to add two more employees? >> a little bank in our town had to hire five people for compliance. the head of a big bank -- >> greta: that's more jobs! >> but they come at the expense of loan officers. it also puts a burden on especially smaller banks, be careful about making a loan unless have you it papered very well, government bond, no one will say boo. you make a loan, you better have it papered very well, which puts a crimp, very careful on lending. the mortgages, great if you can get the low rates. a lot of parts of the country, very uncertain. >> greta: i see jason nodding his head. it seems like there should be cheap money to expand

businesses? >> rate's only good if you can get access -- >> greta: why can't you get it? >> banks are so much more risk averse because the liabilities are greater and greater. unless you are an investor with great credit and you are a medium or small-sized business, you depend on the capital. if you can't borrow issue you can't grow. we're a capital intensive business, the less access to capital, the harder to grow. >> our overwhelming feeling about regulation is sarbanes-oxley. i am happy to pay it as long as we believe it is creating the consumer confidence and the protection that they need. unfortunately tdoesn't appear yet that it's a win/win situation all around. but it's certain -- >> greta: i was going to say, how does it translate tseems annoying, very costly, but how does it translate into someone trying to get a job or you are

expanding your business? does it have a direct impact? >> we can't employ another sector. $2 million is a lot of development. >> you have to hire the jobs. that's expenses and that is not improving profits. it's somewhere you can't invest. >> greta: taking a break. help wanted. everyone agrees the u.s. economy needs major help. but no one can agree in washington how to fix it. our business experts have ideas. hear from them, next. ♪ why not make lunch more than just lunch? with two times the points on dining in restaurants, you may find yourself asking why not, a lot. chase sapphire preferred. there's more to enjoy.

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>> greta: the problem is simple -- there are not enough jobs. the last 2 months, the u.s. unemployment rate stuck at 8.2%. and the solution? that is definitely not simple. what will it take to fix the economy? we asked patrick doyle. >> for the economy to work, families and individuals need to be healthy. business needs to be healthy and the government needs to be healthy. if you go back to 2008, 200 19, all three of those were broken. i think that families and business have made more progress on fixing femz than the government has now. and so, to me, you know, the tax code is certainly very important oneful i think we can get the tax code fixed, flattened out, simplified, that would be very positive not just for our business but for the american

economy. >> greta: is fixing the tax code the place to start? we have a panel of business leaders. steve forbes, carly rony, devoted to weddings, and pregnancy. nick waletta, talk points, a new media couple of business-to-business webcasting. and jason ackerman, director of fresh direct. steve, i know that tax is one of your favorites. is the tax code where to start? that's giving you one. [chuckles] >> yeah, you know the numbers. the tax code when you take the attendant rules and regulations, 9 million words, nobody knows what's in it. four,000 changes. it's beyond redemption. why not junk it and start over? i like a single-rate system. others valid two rates. but you could do your tax return on a sheet of paper.

we spend, 6 1/2 billion hours filling out tax forms. $300 billion directly or indirectly complying with the tax code. imagine if we free that up, have a low rate, have more hour and it is only one who is lose, washington. >> greta: couple of quick questions. jason was when was the last time you did your own tax return? >> never. >> never. >> nope. >> i did in the late 70s, early 80s. >> do you understand the code and your business enough to do your own? >> no. i wouldn't try it. >> only if it was the ez form and that was simplified. >> i tried once and i gave it up halfway through. >> how did that work out for tim geithner? >> greta: that's not a good sign, if successful business people eye suspect your returns are complex. but when you start out, years ago, they weren't complex. but, you know, members of congress don't do their own taxes. nobody does. >> no.

it's corrupting. i mean tbrings out the worst in us. can we take this deduction, that deduction? what are the rules? you spend an inordinate amount of time, acidic and corrosive. it's unamerican. >> greta: next, what is the next problem to fix? >> the tax changes that are forthcoming, starting january 1 really affect us. we are a limited liability company. so at the end of the year, if we have a profit in the business, although we keep the cash in the company, that income profit is distributed among the owners as personal income. no one put on the numbers on there this. but if have you $1 million and that's a sizable company that's growing and hiring people, although that $1 million stays in the business to grow and expand, the tax liability is distributed amongst the owners and they get a $250,000 k1 to pay now, 40% tax on.

so it -- they don't get the cash with that. that's what people don't understand. small businesses plow the money back to grow the company. the profits are not distributed. but the earnings do and the tax liability does. >> greta: jason, do the taxes in any way inhibit your growth, is the uncertainty what have will happen going to inhibit your decisions on growth, hiring employees? >> the taxes don't. but if you were running a business and you had an inefficient process, i don't know why you would keep t. what the government does, they are afraid of change and can't make decisions, so it's clearly not run like a business would run t. i think we have to bite the bullet and not be afraid to make a change. >> greta: they have been talking about changing the tax code forever -- forever. when is this going to happen? >> i am all for simplifying the tax code. but the discussion of jump-starting the economy lies in a lot of areas. i know for an organization like

us, it's about entrepreneurship. i think about giving companies like ours and more companies, the ability to start up and create more jobs -- >> greta: what do you need for this that? >> immigration, i think, changes in immigration policy are one of the things, as a tech company, we are incredibly focused on. so many of the 40 million jobs that have been created over the past 30 years have been, particularly in the past 10 years, have been createssed by company who is had partly people who were educated in the u.s. in technology. all the big names we know of, they were co-founded by people who are from other countries. i think the h1b visa is a great way to jump-start the economy and opening up the control there from 85,000 a year to the dot-com boomers, 195,000 hworch visas. >> in other words, someone graduates here with a phd or a high degree, they should have

that green card instead of being sent back. keep the brain power here. >> this is where so much of the growth of the country is coming from and we are accepting it back. it is all areas, not just technology and pharmaceuticals and i think things like that, a lot of growth is coming and we could be supporting so much more. i think we are starting to try. but we need to take a lot more action on that. >> greta: need it take a break. who is the better man for the job in president obama and governor mitt romney clashing over business isn't fight is getting ugly and uglier. whose ideas will help small businesses and big businesses? what does it mean for you?ó@x @

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>> from america's news headquarters, i'm marianne rafferty. police in suburban d.c. foiling a workplace shooting plot. investigators saying they were surprised by the number of weapons found in the 28-year-old's apartment in maryland. he was wearing a shirt that

said, quote, guns don't kill people, i do." he was in the process of being fired from his job in a processing center. he had made threatening phone calls to his employer. the wife of george zimmerman pled not guilt tow lying about her and her husband's financing. a judge revoked george zimmerman's $150,000 bond last month after prosecutors said the couple lied about money raised from a web site. zimmerman has pleaded not guilty to murder in the trayvon martin shooting. now back to our special, "open for business." headlines, go to foxnews.com. >> that phrase, pursuit of happiness means that in in country, people would be free to pursue happiness as they choose -- want as government directs, not limited by the circumstance of birth. it is the nature of america to have free people pursuing their dreams. and dreams -- and dreams are

being crushed when taxes go up and up and up on job creators and business creators, when regulations become overwhelming and burdensome, when the people in government treat you like the enemy instead of the friend. >> let me tell you, folk who create most new jobs in america are small business owners. i have cut taxes for small business owners 18 times since i have been in office. i have also asked congress repeatedly to pass new tax cuts for entrepreneurs who hire new workers and raise workers' wages. but here's the thing have you to remember. the proposal i make today would extend these tax cuts for 97% of all small business owners in america. >> greta: tax relief or tax

hike? president obama and mitt romney. whose ideas would help businesses, both big and small? they have very different ideologies and looking at both of them, which ideology or person would probably -- inspire you more to go out and hire people? >> definitely mr. romney? >> greta: why? >> he's run businesses before before. he understands the challenges that we have and he is looking to reinvent or re-engineer the tax code. right now, we are seeing taxes go up. we fall into that $250,000 bucket as a small business that is going to be hit very hard, starting january 1. >> steve, are you likely to hire more people eye know you are a republican -- if governor romney were electd? or all in all, does it make a big difference? >> huge difference, in terms of confidence and in terms of what you will get in the tax code. he says 97%-- the president -- are going to get a tax break or won't have a tax increase. he ignores that the 3% he is

going to hit account for over half of small business revenue, the bulk of the hiring. so the people who are the capital creators, the businesses thatture expanding, they are the ones who are slam disproportionately. so if you know you are not not going to be hit with the taxes and somebody who understands what the challenges are you, you are going to say, let's take a risk. >> greta: carly? >> i don't know. i think weedny need to look at the next president, based on who can stop the gridlock. at the end of the day, it's decisions being made and things moving forward. businesses will respond to the decisions, but it's it is instability that is killing us. i think it is not about -- being a ceo is like being a benevolent dictator. and we are a democracy. you can't dictate t. you need to be negotiating. we are not going to win all control over the government -- >> greta: how do you identify that person?

>> how do you identify the person that can get through the gridlock? i suppose the republicans would say that president oblood pressura had a democratic house and a democratic senate in the beginning, although it wasn't filibuster-proof? and he has had -- you know, he bumped his head against the wall changing things, he would tell you that. governor romney, we only know his experience from governor of massachusetts, and we have to do the guesswork on a national level. how do you make the decision? >> i think in the end of the day, what -- obama has been saying this, clearly work needs to be done. it is not a fool-proof solution. but i think it is more so, everyone coming to the table across all sides of government and from the people's perspective to really understand that it doesn't matter who is in power because -- i am of the belief, the american public will choose who they want to be in power. i think it's everybody together who will get the decisions made. it is not one person. i don't think the person can force anybody to get out of the

gridlock. >> we need leadership. we need leadership. i don't get the feeling that obama and boehner or clinton and gingrich did. but not reagan and tip o'neill. >> one of the thins to take heart is a consensus is emerging. the simpson-bowles commission to reduce the deficit came out with proposals for reforming social security and medicare, came out with proposals for simplifying the tax code special reducing tax rates across the board -- not as radical as i would like, but movement in the right directions. in theesin thees and republicand on. i think in november, particularly in romney wins, he will achieve consensus with a lot of democratic support. to be blunt, this sounds partisan, but so be it, i think it's the white house that blocked it, when you have the deficit reduction commission, the so-called super committee, there were willing democrats to make ady. so were the republicans. i think it can happen. >> greta: jason, the stimulus bill, has it been a success or not, in your mind?

>> i think -- i think it had its moments. but it's petered out. for our project, have you to stimulate growth with small businesses spend money to expand. that's where it is going to come from. the. >> greta: the government says we need more. would you agree with that or not? >> i think if it's the right kind of stimulus, not the broad-based spending. we are doing $100 million project in new york to generate $250 million in tex revenue in new york, done in partnership with governor cuomo and mayor bloomberg and they understood they partnered and we are putting up capital. so it depends on how it's spent. >> greta: some people may think eye assume republicans might think that tax cuts is a form of a stimulus in that people have more money to stimulate, rather than the government dog it? is that what you mean by a stimulus? or are you speaking of government -- more government

stimulus. >> what i don't agree with is tax increases. if we need to make more money, we are not going to raise our prices. you don't raise taxeses you grow the business. stimulation is how do you t. it's a function of taxes and it's a function of investment. have you to invest to create jobs. it doesn't happen by being stagnant. >> you really believe that it can be done without any -- you know, revenue increase? i think we are all -- i think no one wants to swallow the bitter pill of where our economy really is. >> greta: we are going to find out where europe is next. europe is drowning in debt. will it drag the u.s. down with it? how can the united states economy grow while europe struggles? our experts answer the questions, next. [ male announcer ] it's a golden opportunity... to experience the largest, most efficient line of luxury hybrids on the road, including the all-new esh.

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>> there is no doubt about it, even china's facing an economic slowdown, in europe, from greece to italy to spain, the economy's struggling. how do europe's troubles impact our businesses? steve, is there any way to be passively immune? >> not really. if we had a vigorous economy. europe is 20% of the economy, big part of the global economy.

when they get sick, we will get the afteresques in imports, exports and capital flying back and forth. we are feel it. >> yiewmp is the crystal ball of where we are headed if we don't change course. we have a small operation in europe. the doctors had gone on strike. and the international health service announced they were not going to do any knee or hip surgery or cataract surgery. >> that's scary. >> greta: that is scary. >> we can't be immune. the banking system is tied. you can't sneeze inn one place. the only thing, we have seen oil prices cool down, so vienjoyed that, but i would rather see a robust economy. >> greta: is there anything we can do? >> we were looking to asia. we launched in asia -- >> greta: why are you in europe?! [laughter] >> there is a tremendous amount of wealth being created there.

as all companies look to markets to grow and shareholder value, that's what we have done. >> greta: steve, what influence can we have? how much muscle do we have to help europe? it behooves us to get somewhat involved, not just be spectators. >> the one good thing would be to give them sound advice. for all the talk of cutting back government, they haven't done it and they are piling on new taxes on the private sector. spain they raised the rate to 52% on personal income and it goes into a spiral. they go down and pile on more taxes and they pile on more. banking system is weaker. death spiral. stop crushing the private sector. have you to grow. >> the rate 55% and they generated less rev new and everyone was surprised. -- >> greta: we had this conversation a year from now, what are we going to say about europe? >> i hope that they are following our good example.

one good thing, when reagan cut taxes in the early 80s with bipartisan support, within the next decade, 50 countries followed our example, including semi-socialist sweden, which is a tax-cutting paradise. canada did the same thing. they are in good shape. >> it's the speed of action. europe has to act fast. the united states, whether it was the best solution, they acted fast f. europe doesn't take action, it's going to be a big problem. >> greta: we are going to be in trouble. >> i think they need to break up the e.u.? >> greta: break up the e.u.? whew. >> the germans work harder so the rest of europe doesn't have to. >> good policies will do if? >> we have to get rid of illinois and california. >> stay together. >> greta: i wonder when the germans are going to get tired of bailing out greece or manage. right? >> it is want like they have a choice. >> they are like parents.

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>> hello, everyone. i'm kimberly guilfoyle with the group from "the five". the election countdown is on. hard to believe on sunday there will only be 100 days left until election day. and the pressure is clearly on for president obama. he just sent out anergies mail to his supporters telling them it's his birthday. his -- it could be his last as president if they don't help him win. meanwhile, a new report out today brings more bad economic news that the president will have to explain to voters. the commerce department says u.s. economic growth slowed to a rate of just 1.5% from april to june. 100 days isn't going to be a lot of time to be able to turn the economy around. republicans are hoping to prove that by putting out this new ad

to persuade voters it's okay to make a change. eric, how damaging -- >> half the deficit. strengthen the economy. lower unemployment. what did we get? national debt over 15 trillion and climbing. unemployment over 8% for 40 straight months. no end in sight. he tried. you tried. it's okay to make a change. >> eric, how damaging is it for the president? >> terrible. 1 1/2 gdp growth is not only subpar, it will raise the price of the stimulus package because a lot of it was based on 3% growth. the cbo next year and the year after and the year after will come back and score obamacare 'cause the cost of obamacare will skyrocket. let's talk about $15 trillion, a couple things. if you take one dollar bills, check out this deck. here is a stack.