john: thanks to chris edwards and dan mitchell. [ applause ] . >>> next, someone much more optimisticut the american dream than i am. so good for him. rj usaa makes me feel like i'm a car buying expert in no time at all. there was no stress. it was in and out. if i buy a car through usaa, i know i'm getting a fair price. we realized, okay, this not only could be convenient, we could save a lot of money. i was like, wow, if i could save this much, then i could actually maybe upgrade a little bit. and it was just easy. usaa, they just really make sure that you're well taken care of. usaa car buying service. powered by truecar. online and on the usaa app. yup, we're constantly making thinkorswim better. here at td ameritrade, they're always working. like a custom screener on your desktop, that updates to all your devices. and you can share it with one click. wow. how do you find the time to do all this? easy. we combined every birthday and holiday into one celebration. (different holidays being shouted) back to work, guys! i love this times of year. for all the confidence you need. td am

senior fellow at the kate stow institute dan mitchell with me now. dan, is this china not wanting to accept responsibility for uncomfortable relationship with free markets and still having a communist system? >> first i have no idea whether there are some traders and financial market people in china did some bad things. let's set that aside as possibility. it doesn't change the fact though that china's government has had too much cronyism, complete lack of transparency, lots of fake stimulus, that make what is obama did trivial by comparison. they haven't been willing to liberalize their economy and allow true free markets. so they have been living off a little bit of liberalization from 15 years ago. they haven't done anything since then. they're trying old printing and stimulus approach. i think it cited a lot of instability and volatility over there. the chickens are coming home to roost. they want to blame somebody else. deirdre: they want to blame somebody else. but should china's government itself be looked at or just reflecting in some way abou

[applause] john: chris adverts and dan mitchell. someone much more optimistic about the american dream than i am. good for him. john: we are at freedom fest to talk about the american dream house government often kills us as it does it keeps growing and it depresses me bed grover norquist keeps smiling president for americans for tax reform has fought that tax simplification for 30 years and you have failed. is less simple than it ever was taxes are higher why are you so cheerful? >> the majority of the members of that task -- of the house we have not had a tax increase as long as the republicans controlled the house we stopped the bleeding as long as they can hold up one part of the government. obama what did trillions of higher taxes and republicans said no tax increase period we have to run a half trillion of spending restraint with 23 percent of gdp that is the federal government to stop the bleeding and it takes new leadership. john: politician say we have to get rid of this. >> is the one big victory the american people have a

want to bring in dan mitchell, senior fellow at cato institute. jason and jack are back as well. art with you, what's your reaction, what did you hear there? >> the thing that encouraged me he recognized it's not the job of the fed, not the role of monetary policy to try to fix problems in the so-called real economy. if we're worried about a bad tax system or overregulation, if we think the burden of government is too high, tinkering with interest rates, have the fed do a tight money policy, those don't fix those problems. that's encouraging. on the other hand, i still heard him saying yes, we're going to try to fine tune the economy. that's how you get trouble. melissa: jack, that's what i heard, too. it wasn't a we've committed to, this stick to it sort of thing, they said we're re-evaluating, been a rough two weeks, tumultuous is the word he used. >> stop treating this like it's physics, they don't know what they should do and it could go either way. the safest route is to keep with the plan they've been signaling but do it slowly. the u.s. economy is not going to grind to a ha

[applause] john: chris adverts and dan mitchell. much more optimistic about the american dream than i am. good for him. ♪ some neighbors are energy saving superstars. how do you become a superstar? with pg&e's free online home energy checkup. in just under 5 minutes you can see how you use energy and get quick and easy tips on how to keep your monthly bill down and your energy savings up. don't let your neighbor enjoy all the savings. take the free home energy checkup. honey, we need a new refrigerator. visit pge.com/checkup and get started today. john: we are at freedom fest to talk about the american dream house government often kills us as it does it keeps growing and it depresses me bed grover norquist keeps smiling president for americans for tax reform has fought that tax simplification for 30 years and you have failed. is less simple than it ever was taxes are higher why are you so cheerful? >> the majority of the members of that task -- of the house we have not had a tax increase as long as the republicans controlled the hou

dan mitchell has been looking at this and said the epa essentially blaming this on contractors loses aybe it should have better oversight of those contractors. dan, they do this with a wink and nod to say, well, this wasn't us per se. this was contractors. and they were coming up to clean up abandoned mines, hint, hint. not our mines. these are old abandoned u.s. company mines. you know what is going on here. they're blaming somebody else. what do you think of that? >> they're blaming somebody else but the contractors in effect are an extension of the epa bureaucracy. as a matter of fact, they're the so-called beltway bandits where you have bureaucrat, they leave government service with their fat pension. they set up a company that gets contracts from their former bureaucracy. they're in effect the shadow bureaucracy that gets very lush, plush, lavish contracts to do things that the epa or other bureaucracies want. what we're seeing with epa sort of like we saw with all the failed obama care websites where you had these contractors building websites that didn't work. they get rich. bu

dan. >> thank you. >> the rivers will remain closed for testing for at least another week. parks officials say preliminary tests on the animus river have found little damage to wildlife. nicole mitchells here with more. >> this mine was already leek -- leaking. and it is one of an estimated 55,000 abandoned mines throughout the midwest. this has been causing problems and they have been trying to clean this up for decades. 40% of the head waters of wastern waterways have been contaminated from mine runoff even before this incident. and when you look at some of the stuff in this water, lead, for example, one of the readings, over 3,000 times historic levels of lead. there has been arsenic, mercury, all of these things cause cancer, birth defects, brain damage in large enough come tan makeses. it started in colorado, but as the water has flowed and different waterways get together, this has now made its way into new mexico, utah, arizona. the concern is it is heading to lake powell. as it gets into lake powell, the colorado river base -- basin goes through this. the problem was until the late '70s, there were very few many any regulations. so miners for decades and decades did whatever