stephen moore joins us when we return. are you still sleeping?ust wanted to check and make sure that we were on schedule. the first technology of its kind... mom and dad, i have great news. is now providing answers families need. siemens. answers. i tell you what i can spend. i do my best to make it work. i'm back on the road safely. and i saved you money on brakes. that's personal pricing. >>> before the break we heard from elizabeth warren running for senate in massachusetts about why banks need to be regulated. my next guest says regulation would not have prevented jpmorgan's hedging losses and they don't have anything to do with taxpayers anyway. stephen moore an editorial writer with "wall street journal." i consider him a friend. today, stephen, i think you're crazy. how can you say that risks taken by banks don't have anything to do with the taxpayer? were you living in malta in 2009? >> look, let's go back to the financial crisis in 2008 and 2009 when the banks collapse. >> right. >> it's important for people to understand, the main reaso

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the answer is no. >> stephen moore, do you think there's something to that?ree on the u.s. spending more, but do you agree on europe spending more? >> i don't agree at all. i think europe's problems are decades old and the problem, erin, is that these countries, france, spain, italy, greece have become so addicted to these kind of massive entitlement programs, they can't give them up. and look, it's hard to say that they've had too much austerity in these countries. look at their debt burdens. i know you've looked at these numbers. most of these countries have over 100% of their gdp in debt. those are frightingly large numbers. if you want to talk about austerity, one of the worst things you could do in france is raise that top income rate to 75%. there was a sell-off of french bonds today, the euro got creamed relative to the dollar. this was not a pro-investor result in the elections, but i do think, by the way, that i think the real element, the similarity between what happened in greece and france was a kind of allow the rascals out, throw the bums out. w

stephen moore, wall street journal. go to foxnews.com/"america's newsroom".f you're home or on the job, click on the bya box, shoot me an e-mail, follow me on twitter, because you asked, bya and we'll weed through the health care questions throughout the week. martha: so a change in the skies over major u.s. cities. why unmanned spy drones could soon be watching you. bill: also a live look inside the so-called spray tan trial, why defense attorneys now argue that was not what killed this man's wife. >> there's something happened? did she fall, or -- >> no. >> where is she? >> she's -- >> is she bleed something. >> i can't tell. there's blood, there's stuff coming on the of her mouth. she looks pail. i don't know what happened. are you receiving a payout from a legal settlement or annuity over 10 or even 20 years? call imperial structured settlements. the experts at imperial can convert your long-term payout into a lump sum of cash today. bill: here is some proof on a monday the american dream is alive and well, a janitor working at columbia university, that's

well, stephen moore of the "wall street journal" and the former labor secretary, robert reich whose book "beyond outrage." mr. reich, let me argue here, obviously it was pretty overwhelming. we had a coup of people who thought that more stimulus would be appropriate. one said krugman style would be the way he goes. >> erin, if you don't think that more stimulus is appropriate or necessary or even possible right now, at the very least you don't want to do more government cutting. one reason the economy slowed down in the first quarter of this year to an annualized rate of 2.2% is because of all the government cutting in spending. europe's austerity policies there have proven that that kind of a government cutting, when you have so much unemployment and so much reluctance on the part of consumers and businesses to spend is a recipe for disaster. it slows the economy even more. >> that's an interesting point you make. the cut backs in government payrolls are really hurting, does it justify more spending? >> well, you know, to borrow a phrase from president obama, erin and bob, we tried it y

. >> stephen moore with "the wall street journal", thank. >>> use the auto industry as an example. what was the right thing to do, bail them out or cut off their lifeline. same debate. in europe, same debate here, austerity or more spending? [ woman ] oh, my gosh -- it's so good! [ kristal ] we're just taking a sample of all our different items in our festival of shrimp so we can describe them to our customers. [ male announcer ] red lobster's festival of shrimp starts now! for just $12.99, pair any two of 9 exciting shrimp creations like new barbeque glazed shrimp or crab stuffed shrimp. the crab-stuffed shrimp are awesome! [ woman ] very creamy. that's a keeper! [ woman ] shrimp skewer. [ woman #2 ] sweet, smoky. [ man ] delicious! [ laughter ] [ male announcer ] any combination just $12.99! [ woman ] so what are ya'lls favorites? [ group ] everything! [ laughter ] we're servers at red lobster. and we sea food differently. >>> from paris to washington and seemingly everywhere in between, it's the same question, is it time for governments to spend more or save? it seems there's no

stephen moore editor for "wall street journal" joins me now. it did seem reading mitt romney had taken credit for that did seem like an article out of the onion. >> i think it was a dumb thing to say. i disagree with you and with all due respect my buddy john king. i still think the auto bailout was an economic loser and more importantly a political loser. you're right, there are a lot of auto workers in ohio and michigan. i live in the balancing ground state of virginia. do you think the auto bailout is very popular in the state of virginia or another battle ground state north carolina? i would make the case that for mitt romney to win this race, what he has to say, look, the other guy, barack obama, is president bailout. if you want free market policies and end to bailouts, elect me. a very populace line he could take. >> you know there are plants in every state. frankly the auto bailout was more detrimental in your communities because of car dealerships and things like that, because of advertising and things they did. i'm not sure anybody lo

stephen douglas. >> kevin wayne weaver jr.. >> catherine barack -- brooke. >> benjamin carlson gomez. >> eleanor. >> paul david. >> austin taylor moore. >> tristan. >> christopher carl martin. >> michael edward o'donnell. >> marie. >> nicholas andrew smith. >> christina danielle england. >> michael. [laughter] >> ladies and gentlemen, joining president obama on stage, to your left, the secretary of the air force, and to your right, general schwartz, chief of staff of the air force. will the remainder of the graduates of the class of 2012 please rise and come forward by a squadron. >> cadet squadron one. >> robert frances. >> bethany page blackburn. >> michael j. tom brown. -- michael brown. >> spencer buck. >> alan. >> christopher. >> david kostin. -- austin. >> michael david cousins. >> james matthew dunlap. >> michael david. >> jeremiah luke. >> lou -- lindsay. >> catherine. >> victoria marie martinez. >> michael james mckinley. >> christopher. >> airing shake-up -- erin -- up. >> kyle edward. >> nicole singletary. >> paul ryan steven taylor. -- ryan stephen taylor. >> anthony m. wright jr.. >> jane. >> tibet squadron two. -- cadet