we'll bring in ric edelman, edelman financial services to weigh in on this conversation. d ric, i was so excited you were available today to talk about this because when itomes to the retirement crisis in this country i believe the last thing we need is the government, the federal government saying, hay you know what? spend a little less. save a little les invest a little less for your retirement. that's what we would li to see. what is your view? >> you're absoluty right, gerri. you don't strengthen the caboose by weakening engine. it is bizarre pointf view and i really don't get it. the notion is we need to be creating incentives for peoe to save for retirement. not putting ceilings on them to encourage -- discourage them from saving. gerri: i know lot of people out there, both of you would say, oh, but, gerri, t rich people, they will save no matter what. it doesn't really matter. to you first, does that logic hold water? >> i think -- >> it does to a certain degree but here's the real problem. if you have rich people without incentives to save, you know what they're go

ric edelman. this is important stuff.l post it because people need to lobby their c-suite or their bosses and look for the index fund and cheap costs within your 401(k). appreciate it. all the best to you. >>> want to take you back to ukraine and kiev which is erupping. nine people dead according to reuters. the united states issued a statement saying it is appalled by the violence in the capitol of ukraine. to give you perspective where it is, it is 1400 kilometers northwest of sochi where the olympics are taking place. that is what, roughly 870 miles? this is live picture what is happening in kiev, ukraine. we'll stay on top of this and fox news channel which is monitoring the situation. >> talking about your retirement and your investments. now we will talk about puerto rico. they are coming to market in march. roughly $2.8 billion debt offering. this will likely take place in march according to the government of puerto rico. they do want to point out that no counterparty is exercising acceleration. this is important.

ric edelman, from edelman financial will be here in just a second to talk about that.ut first, the white house has officially thrown in the towel on defic reduction. the psident's new budget contains morepending and mor tax hikes. the center of the president's plan to reduce the deficit, a cut in social security benefits, now gone. here with the latest is heritage foundation's romania. great to have you here. we're talking in the show tonight how the government wants to crack down, have people save less money for retirement. my question was, what do you want to spend that on? now i understand that the president's budget will be far, far bigger than the last. how big will it be? and what does he wan to spend on? >> we're looking at several tens of billions in additional spending on education, on manufacturing centers. i mean if you're thinking about it, big government, government knows best and those kinds of programs that the president is trying to put out but this is no surprise. i mean the president hasaid in 2012 when the deficit was a trillionollars, that he didn't