stephen moore, dan grossman and zanny beddoes.: why bubbles are great for the economy." >> this is how we create new infrastructure, telegraph, railroad, internet. we don't sit around and the government says build this line from here to here, people run around and go nuts and build four railroad lines and four telegraph lines and they all go bankrupt. but then someone picks up the pieces, takes that infrastructure and does something with it. when the infrastructure companies went bust, we built the web 2.0 on top of that. when we're not developing any new way of building housing, the benefits are much less. >> is the fed creating a bubble? >> i think there is a certain excess in, i would say, corporate debt. consumers have done a great job deleveraging. they've learned their lesson. but companies are able to issue debt. good companies and bad companies, at very low interest rates and they're doing an awful lot of it. >> stephen moore, conservatives tell me sometimes they're very concerned about all the money the fed is printing an

stephen moore joins us now with "the wall street journal" editorial page, and robert reich, author ofe: what has gone wrong with our economy and democracy and how to fix it." robert, let me start with you. we're talking about scare tactics her. arne duncan, the education secretary today, was forced to backtrack, because this weekend he said, look, teachers are going to get laid off because of the sequester on friday. he was asked for an example. he talked about a school in west virginia. jim acosta, who you just heard reporting, called the school, and the school said the layoffs had absolutely nothing to do with the sequester. it does sound like a lot ofmongering. >> well, erin, something is going to happen, and we already see unemployment insurance is being suspended in some states. we see that people are being released from custody. airports are already making plans with regard to their inspectors, who are not going to be available. they're going to be on furlough. i don't think anybody in their right minds thinks you can take $85 billion out of the entire system, and that's what we

flood insurance program is leaving homeowners and businesses out in the cold with more on this, stephen mooreeditorial board member for the wall street journal. welcome to the show. always great to have you here. >> thank you. gerri: you look like you're in a safe, warm place, which is good. [laughter] it's going to be a doozy, right? >> two feet of snow. gerri: i want you to hear what chris christie, the governor of new jersey, had to say. boy, is he upset with fema. here he is. >> people need to know how much money they're going to have from their flood insurance to be able to rebuild, repair their homes. the national flood insurance plan has stunk. gerri: it stunk. you heard that, and i think he's probably got it right. why can't the federal government get money out to people in these kinds of cases? >> you know, gerri, it's a little frustrating that governor christie is saying what he's saying right now about the fact that fema hasn't perform performed, because, you know, it was two days before the election when he threw his arms around barack obama and said how wonderfully the federal go

liz: stephen moore, thank you so much, sir. next up, two teams playing in the super bowl on sunday. but what about the other 30 teams? the democrats in washington have their way. they will all be working to fight climate change. don't go away. stay top of mind with customers? from deals that bring them in with an offer... to social media promotions that turn fans into customers... to events that engage and create buzz... to e-mails that keep loyal customers coming back, our easy-to-use tools will keep you in front of your customers. see what's right for you at constantcontact.com/try. making the big romantic gesture. that's powerful. verizon. get a nokia lumia 822 in red for free. liz: welcome back, the government throwing a hail mary pass or a conventional democrats and the nfl and nba and the nhl and major league baseball as well as hundreds of other organizations have advice on fighting climate change. our very own melissa francis does asking the sports guys about that is just nuts. >> it does seem a little crazy. they have wal-mart, they have goldman sachs they have food compani

liz: stephen moore, thank you so much, sir. next up, two teams playing in the super bowl on sunday.t about the other 30 teams? the democrats in washington have their way. they will all be working to fight climate change. don't go away. liz: welcome back, the government throwing a hail mary pass or a conventional democrats and the nfl and nba and the nhl and major league baseball as well as hundreds of other organizations have advice on fighting climate change. our very own melissa francis does asking the sports guys about that is just nuts. >> it does seem a little crazy. they have wal-mart, they have goldman sachs they have food companies, they have everyone pitching in. you can imagine when you get a call from washington and nursing that we want to be on the committee to talk about climate change or whatever and they are saying, okay. you can't really say no. but it really reminds me of evy other committee they put together in washington. these guys may come up with good suggestions and they go absolutely nowhere. liz: i believe it was henry waxman if we want to break through the

liz: stephen moore, thank you so much, sir. next up, two teams playing in the super bowl on sunday.hat about the other 30 teams? the democrats in washington have their way. they will all be working to fight climate change. don't go away. have given way to sleeping. tossing and turning where sleepless nights yield to restful sleep. and lunesta®(eszopiclone) can help you get there. like it has for so many people before. when taking lunesta, don't drive or operate machinery until you feel fully awake. walking, eating, driving, or engaging in other activities while asleep, without remembering it the next day, have been reported. lunesta should not be taken together with alcohol. abnormal behaviors may include aggressiveness, agitation, hallucinations, or confusion. in depressed patients, worsening of depression, including risk of suicide, may occur. alcohol may increase these risks. allergic reactions such as tongue or throat swelling occur rarely and may be fatal. side effects may include unpleasant taste, headache, dizziness, and morning drowsiness. ask your doctor if lunesta is right

way to make up if are difference but there is no way in holy heck you can raise enough taxes, stephen moore announced you can't tax the rich enough to make up for deficit and pay the price, and you know bunt the -- take will fall for everything. neil: you know, you have to lock at markets lately. -- look at markets lately. italy rattled the markets here today, what is going to drive our markets? do they see this as well or impasse or collective global funk, or what? >> well, i think there is a little bit of misdirection that goes oi think your economy is changing a lot, i think it is driven heavily by the internet, and information technology that are restructuring the economy in all sorts of way, they are tough for traditional measures to gauge, one thing that happening, is that the returns to that information and that technology are flowing to really smart people the at the high-end of the market, in some ways the rich are getting richer, because they know how to exploit that technology, but that technology is taking dead aim the these middle class and lower middle class people. what you g

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stephen moore of the "wall street journal" founded the conservative club for growth.ou have strong views on this. steve rattner does as well. these automatic spending cuts, if they go into effect on friday, as we now all assume they will, is it really going to have an impact on the broader u.s. economy? >> no, it won't, wolf. and i was so -- i'm old enough to remember back in the 1980s, when we did a small across-the-board cut, smaller than this one, but the agency found ways to save money, to save on paper clips and travel and conferences and, you know, the world didn't come to an end. i think the president's rhetoric is overheated and i think it is fright night. and what we're talking about here is about a $50 to $60 billion cut out offed a $16 trillion economy. i don't see where this is going to hurt the economy -- in fact, i would make the case, wolf, that cutting government spending right now given how gigantic our budget deficit is, $1 trillion, i think this would be beneficial for the economy, if government became more economical and saved 4 cents on the dollar

stephen moore joins us now from washington, d.c. do you think that the white house plan really does throw a wrench into reaching any kind of bipartisan agreement? >> i think this was a real setback. this is very delicate negotiations. you need to find a way to let more immigrants into this country. you need to have a way where people who have been here to have a path to legalization. it has to be coupled with tougher border security. everyone knows that. for some reason, the president is basically saying, we will not move forward with the border security, but we will with these other elements. i think that is a killer. i think marco rubio is right. dagen: why leak it in the first place? in washington, there is always a reason that things come out. >> the groups on the left do not want border security. this was sort of an olive branch to the left wings that do not want border security. i think the president was trying to basically reach out and say, look, we will not make it tougher for people to get into this country illegally. i th

stephen moore, joins me now, senior economic writer for "the wall street journal" we talk about thislot but there's, sort of a new realization i guess that this is sinking in a very big way with the american people. that the day of reckoning with this debt is upon us. >> well, i hope you're right about that, martha. i was thinking when i first came to washington which was about 25 years ago the national debt was 1 or $2 trillion. now we're at $16 trillion. i'm almost aghast how much our nation has fallered. you're right, we're over the last five years we've been borrowing over a trillion dollars a year. the question is whether a great nation can continue to do that? and when you asked the question, are the american people willing to accept the fact we have to do something about that? i hope so. i really do think this is an anchor on our economy. but then you see the president almost deserves a academy award for best supporting role in a horror movie. unfortunately it is fix. he is saying all the cuts will destroy the economy. i don't believe that. i think this is medicine we have to

stephen rane died. we caught up with a friend at last night's memorial service. evan moore says he doesn't understand why someone would kill stephen. >> i would never imagine him angering anyone or anything like that to provoke something to this magnitude. >> green, a graduate student, shot and killed himself. investigators believe that he had been suffering from a mental illness. in addition to the handgun, they believe green used, officers say they also found a rifle, a machete, and a baseball bat. >>> right now charles county fire investigators are trying to figure out what started a deadly fire overnight. crews rushed to bawrning home around -- to the burning home around 10:30 last night. it took about 30 minutes to put out the fire. however, one of the persons who lived in the home did not make it out safely. the victim is believed to be an elderly woman. one firefighter was taken to a nearby hospital and treated for minor wounds. >>> president obama is hitting the road for three days to push proposals that he unveiled during last night's state of the union speech. the