kennedy: the early 20th century milton friedman favored a time of immigration because when you starthe programs people came over for different reasons that the turn-of-the-century. >> our rules are set up to give virtually impossible to compete for like mark zuckerberg for his job but they could compete for his landscapers job. kennedy: some say that isn't the worst thing summit the landscaper think so. kennedy: if you work in the low-skilled jobs creating capital you are adding to the economy and better real-life. >> bay are the greece of the wheel of the economy. if you have low-wage taking more than they pay it could help the low wage to regret it definitely whole curt's those for that compete for the job indefinitely hurts those that is half the country. kennedy: even with a false so security number you have a lot of immigrants that come here to work hard and pay taxes. >> but they're not paying taxes. >> they are not. that is not true. if you have to have a fake social security number to use the verification system. >> they are accepting more back. kennedy: when you say that it

back in the 1970's when milton friedman was looking back at the great depression and talking about whatchers had advocated as policies in the great depression, and saying what he would have advocated, he would have called for in situations like that, and i think in situations like this, for coordinated monetary and fiscal expansion. with interest rates at such extraordinarily low levels now as in the 1930's is a once in a century opportunity to pull all the infrastructure spending we are going to be doing over the next generation forward into the next five years, and do it over the next five years when interest rates are extremely low and when the government can thus finance it at such extraordinarily good terms. matt: we have a national infrastructure crisis here, bridges,ads and airports are at levels that are critical and certainly not worthy of a first world country. tom, do you agree we need to fix that up? tom: i think with the stimulus 2009 they blew the opportunity to do more in terms of infrastructure. the other money you may have gotten in short-term did not add to long-term.

and so ultimately milton friedman said this is just not going to work and it is a bad idea. boy, was he ever right. how many years later we're now looking at eurozone potentially falling apart. there is a lot of will there. germany would like to keep it together. angela merkel would like to keep it together but greeks are making it very clear, they don't care. i think the lack of leadership was very much on display when tsipras said he would send the vote back to the people. neil: the people are angry. thank you very much, trish. see you at the top of the hour. this is the scene in athens if we could still show it. the throngs are gathering. they will hear from the prime minister in 20 minutes. this is the largest crowds i've seen outside of parliament building. ashley webster is there, access to money is limited or impossible to get. some you can't get the cash when you need it. the question what kind of cash will they dispense in weeks and months ahead. now it is euro. those days could be limited. they could go back to the drachma which is beautiful currency if you haven't

milton friedman called this back in 1997. he said that it wasn't going to work. he was right. that is then. could be happening now. trish, always good to see you, thank you very much. we mentioned chris christie joining the race here but if you want to know who is making a race of it, follow the money. we have two people who have it and who they are following after this. ♪ >> i'm dagen mcdowell and this is your fox business brief. the u.s. women's soccer team gearing up for a showdown to remember. usa takes on germany in tonight's world cup semifinal game. the two countries played each other 29 times. germany winning only four of those matchups however team usa is entering the tonight's game as the underdog. number one germany is favorite to take home the trophy. winner will take on germany -- england or japan on sunday. you don't want to miss it. go usa! take a look at market as we go to break. 61-point gain on the dow. we'll take that after yesterday's tumble. "cavuto: coast to coast" will be back in just a minute. this allergy season, will you be a sound sleeper, or a mouth

we would read milton friedman and high-tech -- hayek, and then we would give speeches on free-market economics. later on, we formed a group called the constitutional ground breakers. it was five high school students. we spent hundreds of hours reading the federalist papers, the anti-federalist papers, the debates on ratification, and we memorize the court -- the constitution in a short form. we toured the state of texas speaking on it. we would go to a rotary club. while you were sit in having lunch, we would set up five easels, and each of the high school students, we would write the entire constitution from memory in a shortened, pneumonic form. then we would write a definition of socialism, government ownership of the means of distribution and production in the economy. she don't know what it is, you can't identify when you have it. finally, we wrote a quote from thomas jefferson. "if a nation expects to be ignorant and free, it expects what never was and never will be." in four years of high school, i gave roughly 80 speeches all over the state of texas on free-market economics a

there is, however, some evidence that there may be, as the late milton friedman wrote in an e-mail to me shortly before he died, that there are also some negative experiences perhaps associated with college in some cases. so it's very difficult to measure the -- it's an economics term. the experiment. another one that was often used is smoking. college graduates smoke less. that causes less secondhand smoke problems. although people that smoke die earlier and that lowers the medicare cost. you can -- i'm sorry. true. >> it's a somewhat grim view. i'm not sure i want to explore that one any further. i think i'll shift to the trio program. >> segue. >> yes. i'm a little sensitive on that one because my father died of emphysema. so on this issue of trio, so some of the stakeholders have suggested that there's not enough data to show that all of the programs are working as effectively as we'd want to given the investment. some have said therefore we should just end them. some have said perhaps we should remake them. maybe into more general grant program with a lot more accountability. so

would it be equally true to say if we go another trillion dollars in debt as milton friedman taught us decades ago and you created jobs program and people dig a ditch with teaspoons and then fill in the ditch and that would also create gdp growth. >> it would in the short term. that's right. >> that would also create growth in the short-term and i'm just trying to show the context of smart, economic growth and the second remark the ranking member made was that immigration increases would increase gdp growth. that's also a true statement, but what most use as the more helpful measures is gdp per capita and would you say that's accurate as a measure of welfare, that the gdp per capita is more important than the average person than just growth in gdp. >> that's what's behind household income. >> good. and is it your understanding that in terms of federal scoring, immigration federal programs come into play but if an average person with a ninth grade education emigrates to our country and pays very little in federal income tax, but if they have two kids in schools the cost of that is rough

there is, however some evidence that there may be as the late milton friedman wrote in an e-mail to me shortly before he died, that there are also some negative xernlts perhaps associated with college in some cases. so it's very difficult to measure the -- it's an economics term. the xernlt. another one that was often used is smoking. college graduates smoke less. that causes less secondhand smoke problems. although people that smoke die earlier and that lowers the medicare cost. you can -- i'm sorry. true. >> i'm not sure i want to explore that one any further. i think i'll shift to the trio programs. >> segue. >> yes. i'm a little sensitive on that one because my father died of emphysema. so on this issue of trio, so some of the stakeholders have suggested that there's not enough data to show that all of the programs are working as effectively as we'd want to given the investment. some have said therefore we should just end them. should have said perhaps we should remake them, maybe into more general grant program with a lot more accountability. so i'm just wondering what your recomm

the famed economist milton friedman said free trade ultimately forces competitors to put up or shut up. mr. speaker, let us set the table for free trade. let us pass t.p.a. i know american businesses will put up. i yield back. the speaker pro tempore: the gentlelady's time has expired. the gentleman from texas. mr. sessions: thank you very much, mr. speaker. mr. speaker, i ask unanimous consent that all members have five legislative days to revise and extend their remarks. the speaker pro tempore: so ordered without objection. the gentlelady from new york. ms. slaughter: mr. speaker, i'm pleased to yield three minutes to the gentlewoman from connecticut ms. delauro, who's been so effective on this bill. the speaker pro tempore: the gentlelady from connecticut is recognized for three minutes. ms. delauro: i rise in strong opposition to this fast track bill which is only made worse by a gimmick of it being attached to unrelated legislation designed to help federal public safety professionals. and i might add, as already been mix menksed, that the general president of the international as

conservative economist milton friedman still tops the reading lists of republicans in congress congress. republican presidential hopefuls still invoke his name to show their free market bonafides. asked about whether the government had any role to play in reducing pollution friedman said "there's always a case for the government to do something about it because there's always a case for the government, to some extent, when what two people affects a third party." friedman is describing what he called "neighbored itneighborhood effects" or what many economists call "negative externalities." what's a negative externality? when two parties engage in a transaction and the result of that transaction is damage to a third party a third party who did not consent to the arrangement, that is an externality. and when the consequence is harmful, it is a negative externality. in a free society wrote friedman government exists in part to diminish those negative externalityies. when the costs of such negative externalities don't get factored into the price of a product even conservative economic doctri