says don't you think we should take more-- you're annoying me, charles payne? >> come on, warren buffett-- >> all the time, realistically, it's really nuts, really what this is is a smoke screen, obama wants to go after people, households making $250 and considers that rich. we're talking about small businesses, we're talking about people who contribute to society in so many ways and you know, you've the got to tell you, ben, it's great if someone buys a bentley or a jet and someone's got to work on it and park it and put gas in those things. >> pan buy it-- >> not giving the money to the government where it's going to be wasted or redistributed to political allies of this administration. >> charles, i agree. >> i would not just that as a campaign tip, and marines fighting terrorists in afghanistan. >> i have no problem, and when the super community fails they're going to gut defense because he they don't want to take any other. >> that will be a disaster. >> and wait a minute, wait a minute, i'm the chick, i am he' the third here, ben to your point and warren

we have charles payne taking us down. in chicago. les, you were nodding your head when we were hearing herman talk about doing some of the tax cuts and that. how would the market respond to that panacea. >> i love the idea of repatriotation of tax profits. a couple trillion. i have done the math on it at the lowest end, even if the corporations gave that money to shareholders, corporations are obviously obligated to do. we would -- it would be a stimulus in this country of minimum of 60 billion but probably 240 billion that wouldn't cost anyone watching this show a nickel. it wouldn't cost anybody a nickel. it wouldn't add to the deficit. >> neil: what about any. >> nobody is watching any other show. the president has taken a lot of plans that make a lot of sense and hijacked them. the repriteddization thing they want to take and do infrastructure bank with that it's nuts, neil. >> neil: if you can't explain it to senate obviously it's getting complicated. >> corporate profits and do things with the things government tops spend corpor

worries growing it is looking for a nasty setup and charles payne has seen this before.t usually doesn't end well. explain, my friend. >> well, you know, you look at the trends. especially the gdp trends and this is very eary to that. last couples '07 to '08 the same act trends in gdp. i think this quarter is going to be pivotal. if we don't go into the red. we'll dodge a bullet, but it will be close. >> neil: why? what worries you the most? >> this is a vote of no confidence. a vote of no confidence to the point people aren't moving. we've seen it, banks are sitting on a lot of money and corporations are sitting on a lot and so are people. the last report came out about consumer income we saw a savings shoot from 5% to 5.4% and people are starting to batten down the hatches and nothing to do with the debt ceiling debate. talking 0.4% growth in the first quarter. this has something to do with the larger element of losing faith in the system itself, i think. >> neil: you know, and you were commenting on fox business network that we haven't gotten beaten down on some of th

charles payne is going to be with us shortly, we'll talk to him more about what is causing this drop,e markets. charles will have some answers straight ahead. jon: and right now breaking developments in the suspicious death of selena cat. we told you about that 11-year-old new hampshire girl, her body found float anything a river not far from her home earlier this week. no police are impounding her stepfather's pickup truck. rick has more details. >> reporter: yeah, jon. investigators have taken that pickup truck that they believe belongs to celina's stepfather, wendell noise. they're looking for any clues that might explain how celina died. her body was found in the connecticut river near her home in new hampshire. she was last seen by her mom and is step dad while she was working on her computer in her bedroom. the dad has become a focus after behaving bizarrely and being take on the a hospital after getting word that celina's body had been found, and he has a criminal past. at one point he was admitted to a hospital against his will for treatment of schizophrenia. ab ex-girlfriend

rick: charles payne, thanks very much. always good to talk to you. jenna? jenna: we're also waiting to hear from the president. i talked to the chairman of the president's economic council of advisers, austan goolsbee. it's his final day today, by the way. i asked him if latest jobs report is really a sigh of relief and also to talk a little bit more about where we are in this jobs recovery. >> well, i think where we are in the recovery is we had a month of encouraging data that came in better than expected, but i always say when the numbers were bad, i'll reiterate again when they're better than expected, never make too much out of any one month's numbers because they move around a lot. even in this report you saw they revised up quite substantially the last two months, so they weren't as bad as was first thought. i think where we are in the recovery is, if you take a step back over the last 17 months, the private sector r added 2.4 million jobs. that's pretty good. we've got a long way to go, and it's not near enough. jenna: i pushed him a little bit and

following week, my buddy and fox business colleague charles payne will tell you what to do with your money. please, enjoy what remains of your summer and thanks for watching us. from new york, defending freedom every night of the week, so long america. >> gregg: hello, the noose may finally be tightening on moammar khadafy on rebel forces, remitted right on the doorstep of the capital of tripoli right now making dramatic advances. look at these pictures have government troops on their heels to the rebels racing toward the capital even in pickup trucks mounted with machine guns capturing a military base along way and inside the capital we are hearing reports that rebel units may have activated despite the khouy forces. streaming live nearby the border. what do you know? >> reporter: there is a major offensive being launched by the rebels from the west of the capital of tripoli. it begin a couple of hours ago. they managed to completely overcome the major base that the khadafy forces had, brigade run by khadafy's second son. they completely swarmed the base. what they do is scooped up

charles payne of the fox business network joins us now to explain this. charles, great to see you. >> you too. al so we set this record, though it was a dubious one, of all of these wild fluctuations. what does that mean? >> it means the market is very, very afraid. the stock market is telling us the same thing the federal reserve told us earlier this week and same thing the s&p told us last friday, that america is in trouble but our problems are solvable, but the problem right now isn't about the fundamentals of our country, more so as do we have the right sort of leadership and game plan to get us out of this potential precipice that we're on. alisyn: so this dizzying ride that we've seen on the stocks, is that going to happen again today? >> well, it's already happening. we were down big, then started coming back, they've taken actions over in europe to stop people from betting against the european bank stocks, that seems to have worked at least temporarily, we had good economic news out this morning. you know americans love to shop so we had retail sal

we wanted to talk with charles payne.t, get rich, is that right. >> yes. jenna: what do you think about that. central bank is supposed to be a political, now it's part of the election. >> it is part of the election. the election is all about the economy. of course the federal reserve plays an amazing role with respect to what our economy is. in this particular instance i think what rick perry was saying is two things, a, your actions are devaling the dollar. the weaker the dollar gets ultimately the weaker we become, the less prestigious we are and in fact you're harming us as a country. another side element to this is a lot of people blame greenspan for tight monetary policies when george h. w. was trying to be reelected. remember how popular he was, and that popularity went away. there was always and a month and monthanimosity. even though it's supposedly a political there is no doubt that the white house coordinates policy with the fed and vice versa. jenna: that being the case, what is the best for the country, though

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