>>neil: that bad? i wonder, though, the event in november or december when the committee, whatever they call it, has to decide, whether it could be something like this. what do you think? >>guest: it could be contentious but i also believe that the people what will be appointed, particularly by boehner and mcconnell will be individuals, for example, one of my candidates and maybe i should not say it, one of my candidates would be former head of omb, a sober, knowledgeable person. those will be the people on this committee and i don't thing they want their reputations, we met, and we had a meeting and reported out nothing but they will have fundamental principles they will not violate. >>neil: do you thing we just got a temporary reprieve from the rating agencies? and necessity will come back with an update at the end of august, and given what was agreed to, while appreciable it was not the $4 trillion that we wanted? >>guest: if i had my way it would be $10 trillion. but the rating agencies are the sam

now, neil cavuto. >> france is ahead of us. actually, as of last night, more than a dozen countries are ahead of us because of the first time in 70 years, the united states of america is no longer the top financial dog on earth. the investment ratings agency standard and poor's taking care of that, yesterday. officially dinging our top notch a.a.a. rating and kicking us out of a very elite club that includes the likes of france, germany, switzerland, australia, but not us. not now we are in with belgium and new zealand and just getting our arms around that one not proving easy now. for years top of the heap and kicked to the curb. growing fears morning kicked in the markets. we just don't know. after all of this spending the world is essentially telling us we are spent and the jig suspect and the pain could be severe. we are all over the fallout that could be swift with the likes of presidential candidates michele bachmann, ron paul and herman cain who say that the spending has got to stop. democratic congressman dennis kucinic

>> neil: a ll >> neil: r as charlie gasparino reported all eyes monday morning on the u.s. markets. what will be remarkable the two markets we are watching. we focus on the stock market, as we rightly should. my next guest says there is another market to focus on. perhaps for your money far more important that would be the treasury security markets, interest rates are decided. former vice chair of goldman sachs joining us robert kaplan. you are looking for a bit of a dichotomy, right? >> i think in the treasury market people may be surprised how little reaction there is monday. the reason is people will still want to own treasuries we have a slowing economy which may drive rates down. >> neil: that's the best thing going for us. >> i'm afraid this downgrade may not have a market impact but it will have a psychological impact particularly on the household sector. if you are thinking about spending and you see the u.s. just got downgraded people are going to be inclined to wait. i think we still in the middle of as we talked last week, this revaluation of the stock market. we have to

neil cavuto? >>neil: washington, welcome to your double a hole. pointing fingers at investors point to the exit. welcome, everyone, i'm neil cavuto and investors leave as the wall street cut and run stocks going down. way down. nothing, nothing, nothing getting them to move up not even the president of the united states appearing before the nation to calm them down. most investors cashing out and a correction is turning into a bear. and markets the world over are growling in unison. it is now not just us but today, the world and google chairman is worried and in moments here in the flesh to talk about it, but, first, to us, in new york, on the market fallout. in chicago, with phil on the commodity fallout. and gold flying past $1,700. and in washington, dc, ed henry and now a worried white house over what do do. we begin in new york. wow. >>guest: wow is the only word you and describe. today was the first chance to react to the brand new credit rating this nation holds and we will just say it was a bloody mess that occurred. traders were panicked

up 33 on the session and now the bigger picture we turn to neil cavuto. >>neil: thank you. welcome, everybody, i am neil cavuto and no sooner am i out of the capitol that i am in new york watching us lose capital, a lot for a while but stocks stabilizing in the end. but our fears ever mounting the economy could be tipping. 66,000 lay off notices going out last month and everything could hit the fan this month. it could be a dicey month in august. and we have a ring side street at the corner of wall and broad. here we go again. >> yes, here we go again, but we managed to stop the bleeding a little bit, but i have to tell you, investors have a crisis of confidence. where will the jobs come from? where is the business growth? we are not seeing it. we had a list of poor economic data and it is showing exactly how weak the economy is. and now the discouraging data: the service sector, growth fell in july, and this is an important sector for the economy, businesses and retail and health care and banking and economists expected a rise with service accounting for 75 percent of all

"on the brink" now neil cavuto. >> neil: france is ahead of us. as of last night more than a $countries are ahead of us. for the first time in 70 years the united states of america is no longer the top financial dog on earth. standard & poor's taking care of that yesterday. officially drinking our top notch aaa rating and kicking us out of an elite club that includes france, germany, switzerland, australia, not us, not now. we are in with belgium and new zealand now. just getting our arms around that not proving easy. for years, top of the heap. now all but kicked to the curb. growing fears come monday morning we are going to get kicked in the markets, we don't know. here is what we do know. after all of the spending the world is telling us, we are spent and the jig is up. and the pain could be severe. we are all over the fall-out that could be swift. with the likes of presidential candidates michelle bachmann, ron paul and herman cain. who say the spending has got to stop. dennis kucinich says the spending has to double. and mark zhan did who say

>> yes, it would, neil. know, it really pains me to say that the best things of this -- best days of this presidency are behind us. inch simply because the president has put no policies on the table such as reducing taxes for corporations and individuals. reducing or eliminating taxes on repatrioted profits and taking captain gains tax to zero. the economic engine which is the business sector is not getting any fuel. that's why we are in this mess. now, the debt deal was supposed to avoid default. but it didn't. the stock markets started to signal that over the past couple of days. they were saying that kicking the can down the road by reducing the increase in the growth was not enough. and so i think that more speeches simply are not going to help. another tool to listen to the wrong people is not going to help this president. >> neil: her man, i listened to our ed henry who was very very tied in at the white house. the gardner barely talks to me there. but, i am gleaning two different reads from the white

>>neil: got you.uest: if you invest by building products for putting infrastructure in the ground or building assembly line and it is to no avail people don't buy the products. what are you doing? you are making a dumb investment. >>neil: talk about $2 trillion, i think it is substantial more than that, it could be $3 trillion. having said that, what do you think will shake the fruit off the tree? what will it take for them to get off the dime? >>guest: well, right now if there continues to be a legal of great uncertainty, you look at a couple of days ago, the federal reserve says what we are going to do is keep interest rates low for another two years, that doesn't build confidence. that says that the economy is going to be sick for another couple of years. >>neil: so c.e.o.'s like the low rate but not the reason. >>guest: of course. so the economy is stuck for a couple of years that is what that signaled. that is one more level of uncertainty. if you look at the deficit bill a week ago, okay, so we

>>neil: that is true.: there were many different reasons they voted against the bill last week. this is 90 percent of what boehner's bill was so we will lose those same 22 republicans and i guess we will probably lose another ten or 20. i am not scientific, but that is what i think. so it will take the democrat votes but this is something though recognize that is critical vote. >>neil: what did you thick of nancy pelosi saying vote your conscience, do what you want? >>guest: it is a lack of leadership. we talk about that up here, but, truly, leadership is having opinions. you have to have a vision. know what you want to accomplish, give guidance to people relying on you. >>neil: what does that say? >>guest: it says she is worried about the next political election and making sure she doesn't put a firm statement out there to be used against her and this is a disservice to the american people. >>neil: but you think the vote will happen and we had senator coburn, and he is not a fan, and michelle bachmann, in

"your world," with neil cavuto is next. >>neil: thank you, trace. there is a reason why they call them volatile markets, 9:32 a.m. the market opened two minutes and the dow was up 171 points, by 10:00 a.m., down 80. two hours later, moving 250 points. an hour later, up 157. a 400-point swing and barely lunch. by day's end, ahead 60 points. man oh man, oh, man. we survived. i think. welcome, everyone, here is what you need to know about how bummed we are. give us news, not worse than expected. and we will take it and investors will run with it, 117,000 more jobs popping up last month, 25 months interest a roughry, they should be triple that, but have you seen all the other numbers? factory orders plunging. retail sales, stumbling. consumer confidence cascading. take what you can get and threw a 500-point swing that does anyone proud the traders make a rally out of it with the dow februarying up -- finishing up for the day but off for the week. and, still, well into correction territory and not that far from their market territory. though wonder why d

>>neil: it was supposed to be ...pared to the upridessing in egypt and they had all the hyperbole and what happened? on recall day, it failed. what was the coverage of the failurest if you look at the numbers, it is great. cbs, one story. the totality of nbc? frye -- 45 seconds. abc? nothing. >>neil: as you said at the outset if the legislature switched, gone democrat, then, my god, they would still be talking about it. >>guest: if it went the other way we would have seen the nonstop stories about the end of the tea party movement in america and we would have seen nonstop stories about the need for the republican party to compromise can we would have seen nonstop stories about the left alive and well and everything going right for them. we would have seen those stories. >>neil: the lesson to be learned is, why care where people stand if it is left or right, but this is a pretty obvious one and it should trouble people. >>guest: if you give us 53 stories in five days how about two in the other direction? take two. two.

mark, good seeing you again. >> always a pleasure, neil. >> neil: meanwhile, a craft, a carrier, a crisis. the former ambassador to our united nations john bolten, on the connection. well, i guess we dribble and they dare. it's a weird world, isn't it? >> well, i think what is happening with the state of the economy is we're seeing if we don't get the recovery going we're going to have great difficulty in maintaining an adequate national defense. the president has already cut it to the bone while he's been ramping up with domestic stimulus spending and in the debt ceiling deal recently agreed by congress and the president, the trigger mechanism if it comes into play will result in absolutely devastating, essentially indiscriminate cuts to the military budget. so when you add all of these together, it's a pretty grim prospect if we don't change it. >> neil: which is why i was referring to an unnamed carrier, referring to the chinese showing off its military vessel that supposedly is going to be their start at being a super defensive power in their own right, flexing some muscle at the same

>>neil: for the president?>guest: i would say it has to be up to 40 or 45 percent he will get a challenge. >>neil: when we come back, retail selling is sluggish. diet and exercise weren't enough for me. i stopped kidding myself. i've been eating healthier, exercising more, and now i'm also taking lipitor. if you've been kidding yourself about high cholesterol...stop. 80% of people who have had heart attacks have high cholesterol. lipitor is a cholesterol lowering medication, fda approved to reduce the risk of heart attack and stroke in patients who have heart disease or risk factors for heart disease. [ female announcer ] lipitor is not for everyone, including people with liver problems and women who are nursing, pregnant or may become pregnant. you need simple blood tests to check for liver problems. tell your doctor if you are taking other medications or if you have any muscle pain or weakness. this may be a sign of a rare but serious side effect. great ride down. if you have high cholesterol, you may be at i

. >> neil: this is not just britain. we have seen riots and disturbance and worker walk outs and not as violent or as heated in the united states in wisconsin. i wondering whether there is a sense of no one in charge, frustration not only abroad but here and everywhere. it is panicking people. >> guest: it should worry people in all of our countries, we have the same disease which is liberal socialism that tears down all values was society and dumbs down the church. dumbs down the courts, they are in favor of the criminal and the victim is not cared for at all. in britain, cells are called rooms. it is ridiculous . it is spreading and my goodness, when you have the limb lips in britain, wait and see what happens then. french, german and spanish police in britain. unimaginable and when the recession starts to bite, you have to worry when there is a reason for people. >> neil: good reason to worry next week talks that european banks are shaky and not over the melt down and the worst of it. >> guest: absolutely right . the

>>neil: good stuff. to bring folks back home if you are just joining, we had a huge run up, 429 points, what got them going although they were all over the map, news from the federal reserve saying interest rates are going to say where they are for two years. that is very unusual. the official reserve barely telegraphs what they will do next week let alone the next two years. it is usually extremely vague, and you can never understand this. they like being vague. charles, i don't know what we could celebrate or curse, the low interest rates that are grant for two years, as good as a guarantee can be? or the slow economy that is the reason for them? >>guest: we can't celebrate the slow economy but we have to be able to celebrate the fact that someone is acknowledging the slow economy and saying we are going to put together a game plan. what we saw from the federal reserve statement was the exact opposite of what we got from president obama yesterday. the exact opposite. you talked about being certain abou

>>neil: thank you, ed. and now from washington, dc, to our financial capital, on a bunch of folks, losing capital. what do you have? >>guest: that is what is happening, another volatile day for the stock market. we have seen volatility skyrocket each day whether the numbers go up or down. right now they are going down, the dow down 520 points. and as you mention, there are concerns of the french bank. france's triple a credit rating and capital requirements. can france, can u.k. banks, german banks, take the hit of a country like italy if they need a bailout? many say if they cannot handle that because italy is the third biggest economy in the eurozone. look at the dow, this is why help vestors -- investors are tired, five days of 400-point swings. and gold for the first time in history, today, going above $1,800 an ounce closing up $34. and a couple more things we got reprieve with the fed's statement we will have an extended period to 2013 but that does not help growth in the economy. we have to see growt

take it away, neil. >> neil: well, stocks taking off and administration shaking down. the downgraded our credit, period. welcome, i'm neil cavuto fox on top of over the top power play, not even in two weeks after standard & poor's hits washington with the credit ding. d.c. coming back with a slight hammer. the justice department is investigating whether s & p botched ratings, up to the mortgage meltdown, remember that one? remember that three years ago? and creepy or coincidence, ben stein, charles payne, dagen mcdowell along with the best business reporter on the planet, charlie gasperino. and the timing period, i'll leave it that. >> if they bring a knife, you bring a gun. that's the chicago way. >> neil: very good. >> and it's obvious-- >> that's like creepy good. >> it's obvious that this is political pay back, we know s & p failed we know they blew it, so did moody's, and everyone else. why did the noise ratchet up on this. trying to discredit them more, as if they need to be discredited to discredit the downgrade. it seems purely political to me. >> neil: charlie

>>neil: all issue? >>guest: all issues that were brought to the floor by the head of the country and others in a way that was emotional. second thing that happened as we got closer in the extremes of both party raises their visibility exported the issues to the world. they said, what the devil is going on in the united states? it is not just a logical thing now they are worried about things that impact us with no solution, no sense of a solution. sow had a fragile economy and you had markets where people made a lot of money. commodities people made a lot money and they said, okay, maybe i'll cash out now and watch to see if this government, now the government can regroup and move failure. >>neil: don, thank you very much. imagine with the debt deal and they had not gone ahead would that have been wise? right? or would it have mattered at all? insight after this. [ jon ] we don't just come up here for the view up in alaska. it's the cleanest, clearest water. we find the best, sweetest crab for red lobste

jim and neil is shopping for a massage chair for karen. >> you buy me one? >> and cindy, an interior designer is hard at work giving tyler's room that personal touch. >> we took all of his favorite things and kind of rolled it up into one package. we hope he likes it. >> but there's something deeper motivated cindy. she didn't want to reveal it at first. maybe because it is so painful. >> i had lost a little boy named tyler. and i just really felt like that was a calling. that i really -- my place was to help this little tyler. >> it was almost 20 years ago when cindy's tyler died of an infection shortly after birth. she went on to have four more children, all girls. but the pain of losing her son never went away, she says. until now. >> i did feel him with me during this whole project. for the first time, it didn't hurt when i thought of my tyler. you know? and that was the first time in 19 years that i didn't feel pain. i just felt joy. >> the house is finally ready. transformed and two days ahead of schedule. just a little more cleaning

neil cavuto on all things business.ing new details in the trial of the polygamist cult leader warren jeff who's s. a could you seed of sexually abusing two young girls and so much more. there are audiotapes now and prosecutors say they prove exactly what warren jeffs did as jeffs says god wants him to have a new judge. a live report on that just ahead. and a hit and run on a police officer. and what happened next is really the story. it's in the cube now. we'll bring it to you right after this. i love that my daughter's part fish. but when she got asthma, all i could do was worry ! specialists, lots of doctors, lots of advice... and my hands were full. i couldn't sort through it all. with unitedhealthcare, it's different. we have cess to great specialists, and our pediatrician gets all the information. everyone works as a team. and i only need to talk to one person about her care. we're more than 78,000 people looking out for 70 million americans. that's health in numbers. unitedhealthcare. when they taste the food that

>>neil: thank so that is it. >>shepard: thank you, neil cavuto. the markets are off 330 points reaching correction territory of almost 10 percent over the past ten trading sessions. continuing coverage throughout the hour. the weekly u.s. jobs report, another indication of a sluggish economy, first time jobless claims fell but only slightly down 1,000 last week to 400,000 overall the lowest level in four months. but, still above what the level the experts say indicates a healthy job market. now over to the white house. what is the word from there, today, ed? >>reporter: bottom line from carney he did not want to comment on the wall street gyrations because markets go up, markets go down and they do not want to weigh in and make the situation worse but he talked about the job market. the data has been bad and they are bracing that tomorrow we get the monthly july jobs numbers and everyone will watch that closely and what carney was trying to say, today, there have been head winds that have brought this recovery this was just starting become down fr

neil, clearly investors are skiddish about the economy. the question is what are they focusing on that has them reacting this way? >> you know, harris, i love to come on and talk to you, i don't know. i really don't know. i will tell you why not to be a skate here. this was not a great number. i know people were clinging to this 117,000 job gain in the latest job report saying hay we are back, things are looking wonderful. that's not good at this stage in an economic recovery, harris, when we are right now in the 25th month of it, you should be seeing job gains north of 300,000 a month. so, this is not great. what's more, we were actually bragging about prior data revised up in the 50,000, 46,000 neck of the woods. i mean, that was analogous back to me in school warning my parents that i was going to fail everything and then have them think i was einstein if i got a couple of d's. i was still a pathetic student. the fact of the matter is they thought because i was going to fail everything that the d's were a sign that i was going to go to

neil george one game in progress as we speak chelsea have seen west bromwich into their past victory of the season but the blues already trailed is one meal that's up to around twenty minutes. while the russians are continuing to find the cincinnati open very much to their liking might have shut up about setting up a semifinal with their eyes when i don't go on friday nights either player could be called a fool to rush into when we advance a loss as well that all the start of the grand back in two thousand and six should all once again getting the batter out of some out first starts or in the quarterfinals stunning stars who are not yet able to find an answer to losing their ninth meeting six three six two every day a replay helped shut up about to a quick victory the russian was runner up here to kim clijsters a year ago. and her next opponent well number two is not over survived a fierce notch up against any old man took over and also like to be first said six three and held on to win the second after an hour and a quarter of play on cyber ache so shut up about is next while the se

and neil cavuto joins us anchoring "your world." i read the stories of the job numbers and you think the cubs won the world series but the numbers are still low? >>neil: in this environment where we are always dreading worse than expected news a gain of 117,000 when there was talk it could be 85,000 or fewer, we ran with it with open arms, but it was short-lived because we have been trading through 400 or 500-point span but if we finished up on this day, i think we can credit the italians and i think, think, think, we can credit silvio berlusconi, the program of italy. it is interesting that neil cavuto is crediting the italians and silvio berlusconi and i mention that because there is talk now that berlusconi is open to some sort of a budget agreement to get the books in order. the country is all over the map, and get the numbers in order. by doing that he agrees to something calls and this could ring a bell in this country, a balanced budget amendment. so, silvio berlusconi is entertaining something that many in this country have

neil has a right to be angry. the american people have a right to be angry. >> at the same time you're going after an airport in harry reid's own state with some of the language in this thing. you can understand why he wouldn't respond to that. a republican senator, senator kay bailey hutchison said it's not honorable for the house to add extraneous amendments to the spending bill. do you think -- look, whether you can say it on this or not, i don't know. do you think the hardball tactics on both sides in d.c. have gone too far? >> i think that there are passionate people on both sides and when you have passionate people on both sides they're going to fight for their position. the problem is -- >> but there are passionate people in this country about some kind of agreement too. there are actually more people passionate about an agreement who are really angry at the left and the right. what do you say to those people? >> well, let me finish. so there are people who are very passionate on both sides. but somebody li

neil with alan carr both teams at a number of opportunities but failed to come first any of them that draw didn't change their positions in the standings with one car retaining the eleven spot while tom said back well. elsewhere someone it's always expected to make his debut later for his new side on sheet near who moved on a three year thirty million dollar deal this week taking to the pitch in the last of also insults save all that take on terry gross and the latest a school there is to kneel to the home team at halftime. downstream and while outside to recruit more big names in the next few weeks there are reports that the march go outside have shown interest in the manchester united defender any money appendage estimated transfer fees twenty two million euros with a twenty nine year old serbian player reportedly offered nearly twice as much money as he's current salary. moving on to the english game now where liverpool and chelsea are both in action on saturday with both also seeking their second victories in the premier league the blues versus nor each now on the way with the sch

jenna: you should not, neil. neil, 4:00 p.m. eastern time.to wait in the room until then. you have a special show coming up. going into depth what is driving the dow down. fo business network 6:00 p.m. for neil as well. as he mentioned he is stuck in the room. he will do a whole bunch of reports from now until then. very special thanks, neil cavuto. jon: last time i heard he was a vice president. i want to be a vice president. jenna: you want a lot of things from neil, jon. jon: i guess i have to earn it, don't i? business is well for cape cod. families return year after year. apparently the beaches are attracting, great white sharks. marine scientists say the sharks have returned to the waters after chatham, massachusetts, in bigger numbers than we saw last year. molly line is safely on the beach live from cape cod. molly? >> reporter: it is a beautiful day to be on the beach. there are a number of swimmers enjoying the beaches and number of sharks. they are where they belong in the water. white sharks most popularly known as great whites. t

megyn: neil, thank you. catch more of neil at 4 p.m.astern where he will explain it, analyze it and everything in detail. thank you, sir. >> sure. megyn: well, the first shock for raymond johnson came when he learned he was one of an estimated 2100 men diagnosed with breast cancer every year. as he struggles to pay for his treatment, the next shock came from a medicaid fund for breast cancer patients. that fund denied his claim solely because he is a man. johnson's case qualified in every other way. trace gallagher has more live from our west coast newsroom. trace? >> reporter: hey, megyn. raymond johnson had a cyst on his chest and that's how his breast cancer was diagnosed. he work as a construction worker and does not have insurance, so he qualifies for medicaid except that medicaid does not cover breast cancer for men. so he applied for money under a program called the breast cancer prevention and treatment act which does not exclude men from breast cancer. so he had all the qualifications from that except to get screened, to get in

today s&p did. >> greta: neil, thank you very much. senator mike lee republican from utah joining us on the phone. your thoughts tonight, first time that s&p has downgraded us, disturbing news, regardless of who, what, why? we now have a downgraded situation. your thought? >> it is most unfortunate. it confirms what we've known was coming for a long time. but chief chosen to ignore for a long time. -- but we've chosen to ignore for a long time. our economy, our way of life is our debt and continued deficit ing that washington and the administration are pursuing. -- >> greta: if you listen today neil, he talked about how the deal wasn't enough. i know you didn't like the deal very much. if you had a quick remedy for this situation, what would you suggest? >> i think the answer has to lie with a simple solution, that most americans support, which is permanent structural spending reform. something that will change the underlying problem. it will attack the rob problem at the roots, rather than hacking away at branches. constitutional amen

neil, first to you? >> i think that we need to focus on spending. not all spending is created equal. we tried spending, that just created a short-term boost. if we invest in building jobs, long-term economic growth, i think we could see support if that's combined with a long-term program to reform our entitlements and our tax code. so it's possible, though not likely. >> unfortunately, neel's right. it's highly complex. and it's not certain that congress has the capacity to deal with, you know, chewing gum and walking at the same time, but it does have to be a combination of tax cuts that are very targeted, that cause businesses to do with lee said, hire people, along with some stimulus, government investment that will get work done on infrastructure, electrical grid, things like that. it does have to be a compromise and a combination and it has to together feel very big. again, we've got some proposals on this, it tends to come from the left because the right tends to have one answer to this, and that is cut taxes. we're not getting a whole lot of

neil, it's all connected. europe is a big trading partner with china. if europe suffers, we all suffer. >> could i just digress a minute, shep? have you got to come over to fox business network. that's where all in other nerds. it's august the fun. you are right, there is a sort of appal over these markets here that they have no sense of where we are going. and they are frustrated at the pace of government efforts to try to calm things down. you mentioned italy at the outset here. silvio berlusconi took to the airways look, everything is fine. you don't have to worry about it i don't know what the big deal is we have got our finances under control. that may or may not be the case, but the markets pounced on that as a sense that he did not >> very much so. have you got to keep in mind here. they have not been big lenders. they always argue that they have been punished for lending willy-nilly before the meltdown a few years ago. i always say -- by not lending to anyone. but the fact of the matter is the banks are in a little bit of a pressure cooker here

i used to do neil young. i did this impersonation of neil young on the show.d, would you want to do maybe a duet with me as neil young singing willow smith's "whip my hair"? ♪ whip my hair back and forth but it's as neil young. ♪ whip my hair back and forth he was like, i like that. that's good. that's good. his manager calls and said bruce wants to dress as young bruce. can you get him a floppy hat. he's bring his own sunglasses from the "born to run" tour. he goes, you got the floppy hat? get the floppy hat. i get the floppy hat and we do the whole thing. i said, also we have a wig for you, too. cindy lou and courtney have a wig. he goes, no, no, no wig. what are you trying to do? i don't want to wear a wig. i go, no problem. everyone leaves the room. i said, bruce, try the wig on. see what you think. he goes, all right. give me that. i'm putting the wig on bruce springsteen, the most exciting moment of my life. i put the wig on bruce. give me the floppy hat. give him the floppy hat and glasses and he looked like bruce springsteen from 1978. he walked to see

neil cavuto with us. to host a pair of special rerts on the economiur market cs tomoow night ohe fox business network. 8:00 eastern, 7 central. answers from the abyss, that's here on fox news channel saturday morning 10:00 a.m. eastern, 9:00 central. check out neil. many parents would be thrilled to see their kids spending time together. not momma courty. next how the mother of these three captured fugitives feel tonight as the daughter admits she got what was coming to her. plus, they built a juvenile detention centers. all they needed were some kids to fill them up. that's where a wad of cash and this man came from. ♪ [ male announcer ] this is our beach. ♪ this is our pool. ♪ our fireworks. ♪ and our slip and slide. you have your idea of summer fun, and we have ours. now during the summer event get an exceptionally engineered mercedes-benz for an exceptional price. but hurry, this offer ends august 31st. what makes us number one in motorcycle insurance? we love bikes. we love riders. and most of all, w

don't forget neil cavuto's special will be on after. thanks for watching, we report, you decide. >> hi this is a fox news alert. major credit rating agency down gidding america's sterling aaa rating for the first time ever. welcome i'm jamie colby. >> and i'm chemly wright. standard & poor's knocking america down to a aa+ rating at the tail end of a week where a divided congress fought down to the wire over raising the debt limit. to give you an idea of the bag feud of this, consider this, the u.s. has -- held a aaa status rating since 1917. now that lofty status made the u.s. treasury bond one of the worldest safest investments and allowed uncle sam to borrow at extraordinarily keep rates. savings pass on to you when you buy a home, car or credit card. >> reporter: white house press secretary carney put out a statement that did not mention the downgrade but talked about the circumstances that lead to the downgrade. carney said, the bipartisan commission on deficit reduction or the bipartisan compromise, i'm sorry, was an important step

thank you, peter, thank you, neil. thank you all for coming.

. >> my name is neil. i am with the san francisco planning department. i wanted to go back to your goal of mass cycling and how to speak forcefully about the boards of providing infrastructure that matches the needs of everyone that you would like to see cycling. he would say there is a fundamental disconnect between stating that goal and not providing that infrastructure. i want your opinion on the second topic that we touched on today, which there was a slide in the presentation, carrots and whips, and whether you would agree how important that is? thus far, and our experience, teh carrots are the things that we have tried to top. my sense is that without those whips, we're not going to achieve that goal of mass cycling without proper infrastructure. any thoughts on that? >> for the time being, because we have this goal of 50% commuting by bicycle and we have 37%, there is a gap of 13%. where do we get those cyclists from? that is why we're looking at what we can do. of course, we can improve the bicycle infrastructure, the cycling networked, and espec

journalist and broadcaster neil clark joins us from oxford in the u.k. for his book perspective on the libyan crisis good to have you here on party again neil well conflicting reports coming from libya on his whereabouts what do you make or. rebel claims they got him cornered but all we have in this war bill is why after lie after lie we were told back in march that colonel gadhafi was on what was on his way in a jet or away from the country we had claimed that he only been captured the son was supposed to be captured on saturday night and then he cops are again a day later so what is very clear is happening here is the rebels are trying to teach this to the international audience and trying to make out their complete control of the country it could happen it's finished the war is basically over and everyone supports them the situation is not what it is rather more complex than that but let's talk about the situation once it is over the latest pictures from libya depict numerous victims of fighting prison breaks and children carrying guns as we're talkin

crash the economy to make president obama lose in the twenty five elections it offer their take is neil aspirate host of truth for a truth for america radio show and author of the book conscientious equity an american entrepreneurs solutions to the world's greatest problems neil thanks for joining us from our miami studio hey tom thanks for having me back tax cuts for rich people great but tax cuts for poor people who is that the g.o.p. tax platform. well i think that this is a slippery slope for republicans but this is also desperate politics for democrats because there is an economic plan right piecemeal this thing out why doesn't the president come out and say here is our overall solution in saying you know we're going to raise social security i mean this is one hundred billion dollars out of social security a bankrupt program that's going to even be more pink liberty it's social security is down bank really good no it's not bankrupt so it is two point seven trillion dollars sitting in the trees social security trust fund and the guys on wall street are so salivating to get their han

neil is right, he does use a lot of the fancy terms, especially on that show.i'm throwing a lot of things at you right now, but 10:00 a.m. on saturday neil is going to have special live coverage on the brink, answers from the abyss, this saturday, fox news. jon: how do we crawl our way out of the abyss? that is one of the questions that republican rivals are preparing -- prepping for for the debate in iowa, they're facing two days off before the -- or they're facing off i should say before the iowa straw poll, hoping to make way with voters and break away from the pack. chief political correspondent carl cameron live from ames, the leading candidates, who are considered the frontrunners carl? >> there's two and one is national and one is in iowa, really. mitt romney is considered the national frontrunner, he's leading the polls by more than half a dozen points, well outside the margin in most of the polls, high teens or low 20s and he has a great deal riding on this. he hasn't been campaigning particularly aggressively in iowa and plans to ramp that up. in fact

. >> neil: what about the markets are you worried. >> i am worried. >> neil: we are under pressure. that will do it for fox now. >> years of inflation and new numbers soing prices on everything continuing to soar . and now someone here is warning that jobs will not come back until prices come down. i am david asman welcome to forbes on fox. we'll go to steve and mike and victoria and morgan . victoria, are rising prices hurting the job market? >> sure they are. the data is in and we are seeing acceleration in higher prices is bad news for two reasons. one more unpredictable force in the economy that makes business owners scared unlikely to hire. they will pull back and it shows they are limited in what they can do to spoke growth. that is a clamp on everything. >> it could not have happened in a worst time. market is killed on thursday. it is a worst time for the thing. >> inflation, david doesn't kill jobs but distort the job market. >> what do you mean in false jos. like extra energy . in 1980s. it is a clamp down and sell off assets and you create false jobs and hurt jobs in prod

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neil i have you have a couple hours until the market closed.time, speaking of your mother country. you work during siesta. >> reporter: actually, no i'm going to take a nap now and ask them to wake me up at 3:5 a and way way we go. jenna: your world 4:00pm herein time he will be awake for that, thank you very much, neil. by the way no break, tomorrow there is going to be a special live business block on the brink answers from the abyss, that is 10:00am to skwraopb eastern time live on fox news. rick: they could do a lot worse than to listen to advice from mr. neil cavuto. the negative stuff putting intense pressure on the white house. we have an election, a little over a year from now. so president obama earlier today talking up a new plan, giving some specifics, ways to try to find work for our nation's unemployed veterans. he also weighed in a little bit on the latest job numbers we've been talking about. ed henry is live at the white house. ed, good to see you. what was the spin from the white house today after the jobs numbers came out? >>

jenna: neil, what are your thoughts on that?aker boehner, is there anyone else we should watch moving ahead? >> i'm trying to find a way to disagree with bret, but i really can't because he's so smart. but i will enter a new player here, if you guys don't mind, and that's someone we're not hearing from. the guy who most of this hoped-for turn around is going to, and that's ben bernanke. he's already said i'm outta here. ii don't want to sound arcane here, but i think what he has been doing behind the scenes for the last couple years, it's over, and he's more or less saying, that's it, that's it. jenna: i'm getting an associated press alert. sufficient number of senators pass emergency bill to avoid u.s. default. i'm going to wait on a couple more headlines and make sure we can confirm that because, obviously, the counting goes on, and there can be errors like any other time, but that is the headline as it stands and, again, what this bill does is it avoids according to the administration a default on our debt. the question that