Skip to main content

tv   Cavuto  FOX Business  August 24, 2012 11:00pm-12:00am EDT

11:00 pm
joe says, allen combs, while, embarrassing. schooled by lou dobbs. next time come with the facts. yeah, i'll apologize to him later. good night from new york. neil: wrapping up this week, can you update me on what happened to us? welcome, everybody. i guess happy friday. i'm worried, very worried. i guess it hit me earlier this morning when i was watching a wrap up of the falling agency markets and the reporter said something that floored me. listen to this. >> well, it was the end of the week where the markets have been wishing and hoping that we were going to get some stimulus measures from somewhere. neil: she's right about that, but think about that. markets that used to bore government intervention are craving it and depressed because they are not getting it. that's weird and scary. it was scary because i was
11:01 pm
brought up that private enterprise is just that, private. it thrives when government is out of the way, not the other way around. not now. lately, it's not been happening for yearings, not since we bailed out banks base of their own greed and stupidity, set the wheels in motion for who was predictably greece, and then there was cash for clunkers to ensure the wheels would be continued to be greece. the government stimulating its own stimulus. talk about screwed up. oddly, far from finding the big brotherrism revolting, it's wall street that's oddly rejoicing. betting on the next industry that will get rescued and then bind avoiding companies going it on their capitalistic own and selling. it's like we're on this stimulus fix. addicted to junk. wall street happily pimping the junk investing on who gets the next junk, the next hit, the
11:02 pm
next fix. they don't get it from the government dealer, they don't deal, they don't budge. if the federal reserve does not rescue, traders sit on the wallets waiting. central banks don't keep feeding life support to countries who don't cut it. they keep cutting checks until they do. traders stop buys on the mere hint bankers might not. what's become of us? what's become of capitalism? we would sooner march for jobless benefits than find a job and miss mortgage payments to qualify for rescue? i want to know where are the rescues for the folks who don't do this? for the kids who don't walk away from their college debt? for all of those under water who refuse a life raft from the u.s. government. where's their thank you? the tip of the hat to those who have shown the way? more like a kick in the ass because the president says they are showing up.
11:03 pm
turns outs, they are not productive and didn't build anything at all explaning why we took the work out of welfare to work. we don't admire work because we have an issue with success. all upside down. all crucial issues i want both parties to address. is this the way we want to go? is this the country we want to be? close to half paying in income taxes at all, and that's sad, and the top 1% pay 40% in taxes is not pain enough. that's nothing. not fair, not right, not us. it's weird. wall street profiting off of this, and we become not remotely what it was. why did the last capitalism roll over on this and play dead? only show signings of life when the government comes around to fill its filthy tin cup with rescues that need rescuing, bailouts that themselves need bailing out. no bonder average investors hold
11:04 pm
back. they are waiting for someone, anyone, to take this country back. a recent magazine says the rate we're going, it could be too late. peter, chuck, ridiculous. >> yeah, i mean, the way to think about stimulus is the logic that we are always given is that it is, you know, it's self-perpetuating like a cat chasing us own tail; right? if it doesn't work the first time -- well, the problem is there was not enough, but the problem, of course, with that is that it never works the first time, and this is a bipartisan problem if you remember. neil: absolutely. >> george bush passed $150 million at the end of his presidency, and mitt romney, at that time, said that a second stimulus was needed. we got it under president obama. you know, republicans, democrats, they are in this together. neil: you are right. that's imr this is a -- this is why it's a bipartisan rant. the rescues started with the republican administration. what worries me now is that wall
11:05 pm
street plays off of the next rescue, the next central bank bailout whether here or abroad. the qe3, qe4. you know, it's as if this is the new drug, and if we don't get it, the once laissez-faire of ours has a huge hissy-fit. >> you brought up welfare form and changes to the policy that the obama administration has recently enacted that potentially weakens welfare's work requirements in the future, and i think that, you know, you can see a similar sort of thing happening on wall street where there is a culture of depend sigh that's been created, and that's what welfare reform in the 1990s was about. it was about replacing the culture of dependency, replacing, you know, this idea that people can survive on the dull forever and keep taking more with the idea that temporary help is a good thing, but eventually, you need to get back to work.
11:06 pm
neil: well, and we live in an age when i was a kid you had 12 weeks of benefits. now you can go up to 99. my point with this is not to be callous, but step back and say this is the nation we want to be where half pay taxes, and that's fine, and go after the few who pay the taxes, and saying they are not paying enough? that's not fine. it is weird. it's counterproductive. wall street to bet on those industries and those technologies that are going to get the backing of the government or they don't back it at all, that's scary. >> well, you know, the old saying is when all you have is a hammer, the only tool you have is a hammer, everything looks like a nail. in washington, the tool that we have is government policy. the tool that legislators have, and that's what they use. the thing is, that idea seems to be spreading out into the markets, and private actors seem to be picking up that idea and seeing everything through the lens of government policy.
11:07 pm
neil: i think it's psychological now too. not only the rich invest, but we called into question now those who are en route to becoming successful and those who are successful, that they did it through nefarious means because we all had access to the same roads and bridges, and yet, why did this particular guy do something more with that than someone else did? in other words, calling into question those who achieved the american dream. it is a nightmare. >> it is. it is an assumption that if someone is successful, it could only have happened legitimately if the government was involved and the government did it for them. neil: well, all i know is we all had the same infrastructure, the same roads and bridges. somehow steve jobs did more with that infrastructure than i did with my infrastructure. he did his in a garage so he didn't need the infrastructure which is entertaining. look, the point is that that is
11:08 pm
what's luring. we'll see. peter, thank you very much. >> thanks for having me. neil: all right. i'm not done ranting, by the way. an economy having an otherwise down day, president obama is even with mitt romney in the polls. the reason for that -- you might not like it. then, why even folks who like unions say this is the time that they've gone too far. i'm talking way too far. next, issac moving west, tampa off the hook, but guess who is not? you. ♪
11:09 pm
11:10 pm
11:11 pm
neil: british invasion is back, but other than the fab four, one yoko ono is leading the way. she brokered the beetles, but she's getting the survivors back together. rather than rocking, they could
11:12 pm
send gas prices rocketing higher. wait until you hear. issac is possibly rocking the golf. republicans could catch a barak. oil companies are not taking any chances evacuating platforms in the gulf of mexico. weatherbell.com, meteorologist joe tracking the storm. no matter where it goes, this is a region that's volatile anyway. do oil guys have reason to worry? do we have reason to worry about oil? >> it's a pick your poisen storm here because on sunday, it comes to a fork in the road where it has to decide go straight north over florida or back towards the gulf areas. we don't want to write off that option. the scary thing about the gulf option is bringing an intensifying storm through the florida keys into the northern, central gulf of mexico means it's a double whammy. hit the keys, south florida, and then you have all of that warm water, and this thing would go to a category three, four, or five.
11:13 pm
neil: you don't envision that? >> if this takes the western track, to me, there's nothing that would be in the way of stopping this. now -- neil: why? >> here's the thing. the thing put out in the weather bell forecast earlier this year was the central atlantic would be almost dormant. you saw what happened with joyce, fell apart. it would not intensify until in the caribbean. the area close to the united states, because of the overall weather pattern we're in this year, it's just loaded for development. remember those early season storms? all developed right near the coast? neil: right. >> the problem we have here is, and we may see it a couple more times, where something that looks innocuous explodes in the backyard. once this comes away from cuba sunday, that this is really going to start developing very, very quickly. now, if it just goes straight up into florida, it develops to a certain level, but if it's through the keys and central gulf of mexico, we're talking --
11:14 pm
neil: like katrina; right? hit florida first, and then stopped worries about it, and it intensified. >> we didn't stop worrying about it. neil: all these people dismissing this, saying they are missing the point of what it could do -- >> what happens is, look, when a system is large like this, like a skater with his or her arms out, when they pull it in, right, you accelerate into the center. once this gathers energy, big picture of it all over the place, all of that energy comes into the center, focuses over warm water, and you see rapid feedback development syndrome going from a tropical storm, how so fast, a storm to a category two or three. in 1935, the great labor day hurricane, strongest on record in the united states area, went from a tropical storm to a category five in 36 hours. andrew did it in a short period
11:15 pm
of time. cleo in 1964, which this reminds me of, a lot of you folks don't pay attention to these things, came from guantanamo, came from the florida straits, 120 winds hitting miami. that area is famous for intensification. folks in florida, if you watch this, sunday, folks in florida be concerned first, in south florida and then further west. neil: weather goes directly over you or not, the rain from the things alone can be pretty -- >> this is a multibillion storm to me. neil: what? >> i said irene was a $10 billion storm. it's a tropical storm, but -- neil: i think you're scaring people. >> no, it's a multibillion storm. remember the weather is everything. neil: your colleagues say it's not. >> economics, okay. suppose you have -- neil: where do you get the
11:16 pm
multibillion from. i think you made that up. >> look at category two hurricane hitting south florida -- neil: assuming it gets there. >> the economic repercussions cleaning up after the disorm. the resort industry, okay, labor day weekend is coming up, and rather than basks in the sun getting everything going, what happens? now, you got to understand, neil, that is the mid range between nothing and what happens in you get the storm going in the central gulf as a category four or five. the mid range of this given the parameters that i think this is going to be a category two, three hurricane by sunday afternoon, that's where it is. neil: we told you he was different, doesn't follow the crowd. >> listen, if i've been watching something for ten days and have an idea on it -- neil: don't yell at me. >> i want to bring chocolate and roses here because i know sometimes i get too -- neil: prime rib and fries. >> i get too excited. when your name ends in a vowel,
11:17 pm
you never throw in the towel. neil: he's the best. we're going to be watching this storm along with joe closely tomorrow morning. it's coming to you at 10 a.m. to noon on both fox and fox business. live in the republican convention starting at 8 p.m. on fox business right through 11, maybe midnight, however long. here's why you should be for drilling. yoko ono is not. forget shut up and sing. how about just shutting up period? then, to california where unions are battling bankers, why for all of us to win, they both need no lose. we're going to
11:18 pm
11:19 pm
11:20 pm
11:21 pm
neil: in the fox financial flash, more wind jobs getting blown away. wind turbine maker is kitting 1400 workers worldwide, and the cuts are expected to be in the u.s.. those folks could have a lot of problem finding another job because 56% of people laid off between 2009 and 2011 have found new jobs. pregnant women should apply to google. the high-tech giant is lengthening the maternity lead to five months, and the new moms reportedly get full pay. they are trying to retain women as a high percentage leave after giving birth. bankers saying they are getting stocked by stockton. a california city going bust, and now bondholders say union pensions get paid off, and they're getting stuck with the bill. going to court to get the money back. they say it looks like unions win on this one. why, rick? >> it is a really remarkable situation. not surprising the bankers are
11:22 pm
unhappy with the preferences in bankruptcy, bondholders do better. they have problems too. the special bond holders get money. guess what we found out? in the state of california, there is a law that protects city employees from losing their pensions. neil: they moved to the front of the line over bond holders? >> they don't even have to get in line. it's extraordinary. you don't find this in every state, but california has this loss. not surprisingly, they are being quiet in this saying court should do what it's going to do, we'll go with it. we want to be cooperative. of course they do. there's interesting questions here. neil: can a judge overrule serlgly that? >> well, you're right on the point. it's in federal bankruptcy court, there's no such protections in federal law. the protection is granted by statute and to some degree by the constitution of the state of california. who is going to win? we'll have a battle royal over this. neil: what do you think of --
11:23 pm
these bankrupt cities, municipalities, states, comes back to the mayors, the governors, the city officials asking the unions to give something back. >> right. neil: the unions feel they are customer, and taxpayers feel the unions get away with holy murder. who is right? >> you know, i don't know if there is anybody who is right. the unions have contracts. in this country, we like to honor contracts. we can all talk about whether they should have been what they are. obviously, you got union support that goes into funding the people who they legislate. neil: the seals and all the others that went bankrupt regardless. >> absolutely right. there's an interesting difference. as you know, in a private company situation, the government is there as a backstop if your pension goes away. neil: on pennys on the dollar. same apply here? >> that's the question. at least in the state of california, it's all guaranteed.
11:24 pm
not necessarily in every state, but in that state, and i know you're shocked california would do such a thing. neil: i know i don't think it's a left or right issue. i think it's a wrong issue right now because it's getting worse, and i don't see the appetite on either side to really get a handle on this. or address this. they don't want to go too far for fear of ticking off voters, but is it the kind of thing that gets resolved or zeroed in on after the election? dependent on the election or what? >> let's face it. if we find bankers in court against the yiewn yous, as far as the public is concerned, lock the doors and blow the court up. nobody cares much about either of them. they are not the most empathetic people. neil: throw in television anchors with them. >> listen, you'll have a happy country. nobody really cares how this resolves, but that doesn't make it less -- neil: they care when it comes back to them.
11:25 pm
>> exactly. who wins? who knows. neil: i thought you would. that's why we brought you on. >> i can't know everything, neil, that's your job. neil: rick, the best. yoko ono is tours. after hearing his wife, you are going to want to scream. ♪ ♪ [ male announcer ] to hold a patent that has changed the modern world... would define you as an innovator. to hold more than one patent of this caliber... would define you as a true leader. to hold over 80,000... well, that would make you... the creato of the 2012 mercedes-bz e-class... quite possibly the most advanced luxury sedan ever. ♪
11:26 pm
join mercedes-benz usa on facebook for the best summer sweepstakes. join mercedes-benz usa on facebook seems they haven't been moving much lately. but things are starting to turn around because of business people like you. and regions is here to help. with the experience and service to keep things rolling. from business loans to cash management, we want to be your partner moving forward. so switch to regions. and let's get going. together.
11:27 pm
11:28 pm
♪ neil: yoko, you got to be joking. i'm not talking about your singing, i'm talking about this update new york gas drilling you're protesting. find me a muzzle for a lot of cluesless celebrities. i just prefer throttle because i
11:29 pm
think we are looking at a very weird beatles reunion here, folks, but if any can sing now or make the most remote sense now. yoko ono going ringo star in a beatle battle with big oil or big gas, natural gas. part of a coalition of artists and celebrities urging the governor, andy cuomo, to ban fracking for natural gas in the state. now, in this case, hydraulic fracturing or fracking which essentially involves blasting millions of gal lores of water to release composites underneath. it's environmentally safe and sound for a good reason. save oxygen telling artists that because lady gaga, david burn, anne hathaway and the b-52 is,
11:30 pm
all of them, are they 52? just a few; right? they want to cancel the whole thing. i'm worried were new yorkers and all of us. he gets into these anti-frackers, i'm telling you, we are all fracked. fracked as that puppy. charles payne says that happens nothing happens on mitt romney's goal this week to get the country moving towards energy dependency 20 # 20. it's worse than yoko ono singing. >> nothing is worse than her singing. you know what, though? if we could get her to sing between two rocks, you don't need a million pounds of water. neil: after the fact he put up with that, was a loving husband, i'm going to put you on an album. >> oh, man. neil: a loving husband. >> that woman, are you kidding me? neil: that's a giant. i digress. >> me too. every time i hear her singing, i
11:31 pm
lose track what we are talking about. cuomo will go with the fracking. neil: this is a big crowd. lady will run for president in four years. >> he'll have a credibility of someone who did something smart. here's the thing -- neil: you want the b52 #'s mad at you? >> i don't care. neil: stupid name for a group. >> yoko has a lot of money. new york's unemployment rate was over 9%. in pennsylvania, this area is called the marselles shell between new york and pennsylvania, and pennsylvania, 2010, 11 billion in value, 1.1 billion of state and local taxes created 140,000 jobs. 2015 #, creates 215,000 jobs.
11:32 pm
2020, creates 256,000 jobs, 2 billion in tax revenue. are you kidding me? this is amazing. neil: they say you kill bambi in the process. >> kill bambi? neil: the environment is destroyed you greedy profiteers. >> if there's a way actors, artists, has beens and would be can create 256,000 jobs in a single year -- neil: ono was like a never was. >> she was a weird, free kim kardashian. at least kim is great to look at, but someone who is famous for no talent, doing nothing -- neil: nevertheless, there's a collective push. they don't know about fracking, and they don't know. it's not what they say. it's not them obliterating the environment. >> there's a movie with matt
11:33 pm
damo that portrays fracking. i don't get it. the people with the biggest global footprint in the world suck up more fossil fuel energy in a day than the average family does in a year. the job creation, the revenue creation -- neil: switching it around then. if you get cuomo intimidated by this, and it could go the other way if he wants to state his own course, other governors would feel the heat as well; right? fold to all of the folks who can't sing? >> if you fold to this, you have to be able to tell people who electedded you why unemployment is going up, why there's 9.1% unemployment going up in the great state of new york and what you're going to do about it. if you let celebrities dictate policy that stops the creation of hundreds of thousands of jobs and billions of dollars in tax revenue, you better have a good plan b. you better be the best orator in the world if you are going to get away with that. neil: well put. someone who wants the
11:34 pm
environment to look good, will you listen to lady gaga who dresses like that? >> i don't think so. neil: charles, thanks. lance armstrong will not be happy as the record of seven titles off the record, and i bet i know of one almost frenchman who is ecstatic. >> it was not originated in europe. since you mentioned north america, this crisis was originated in north america. neil: this guy who sounds like a frenchman, although he's not, but that's all we need, must be thrilled one american rival will be benched. meanwhile, pregnant women ticked off at the blow to government. the fell lee ceo telling washington to take a rest. ♪
11:35 pm
♪ ♪ ry and abigail higgins had...
11:36 pm
...a tree that bore the most rare and magical fruit. which provided for their every financial need. and then, in one blinding blink of an eye, their tree had given its last. but with their raymond james financial advisor, they had prepared for even the unthinkable. and they danced. see what a raymond james advisor can do for you. trick question. i love everying about this count! including prilosec otc. you know one pill each morning treats your frequent heartburn so you can enjoy all this grt land of ours has to offer like demolition derbies. and drive thru weddings. so if you're one of those people who gets heartburn and then treats day after day, block the acid with prilosec otc
11:37 pm
and don't get heartburn in the first pla. [ male announcer ] one pill each mornin hours. zero heartburn. from maine to maui, thousands of high school students across the country are getting in on the action by volunteering in their communities. chris young: action teams of high school students are joining volunteers of america and major league baseball players to help train and inspire the next generation of volunteers. carlos peña: it's easy to start an action team at your schoo so you, too, can get in on the action. get in on the action at actionteam.org. woman: what do you mean, homeowners insurance doesn't cover floods? [ heart rate increases ] man: a few inches of water caused all this? [ heart rate increases ] woman #2: but i don't even live near the water. what you don't know about flood insurance may shock you -- including the fact that a preferred risk policy starts as low as $129 a year.
11:38 pm
for an agent, call the number that appears on your screen. ♪ neil: they are so fed up with the same government song and dance, well, she made a song and dance. smith says all the red tape is smothering his business. good to have you here. you came up with a pillow to help pregnant women; right? >> right. neil: awkward time with their bellies. >> right. neil: can benefit men, myself included, but i digress. that's when the trouble started? >> right. neil: explain. >> i invented a maternity
11:39 pm
support pillow and a beer gut version eventually. neil: thank you very much. >> no, i wasn't saying -- neil: you started well. >> i was ready to go, and i found out i had to pay $3660 in state registration fees just to be allowedded to sell a pillow no 13 states that require tags. neil: for each one? >> for the first year. north carolina was $720 a year. neil: wow. >> that adds up. neil: what other regulations? >> then i found out that there's also a distributer license. this is all new after i raised my initial $6,000. there's another thousand dollars for districter license to be allowed to sell the pillow. they are selling the pillow, and then there's manufacturing. the manufacturer -- it's been super confusing. neil: can get off the bed with this thing? >> no, i can sell locally and regionally, but pregnant women
11:40 pm
are on the internet. that's where i want to be. i to pay the fees. neil: what did you do? >> i wrote a rap. >> neil: the pillows are still out there? >> preselling to raise enough money to get it off the ground, and i've had a turn away business because pregnant women don't want to wait four to six weeks from the manufacturer. neil: that makes sense. i think you have a better career here. you have a great voice, very poised, very talented, very funny. forget the pillows, move here. >> let me know. neil: what was the reaction you got when you complained about the rules, regulations, all the nonsense, the fees, like, what were they giving you, the non-plus, that's the way it is, lady, move on? >> exactly. when i found out, i cried a little bit, talked to my husband, and told him about the rap idea, and he said, well, if it's going to work, go for it. i talked to a friend who likes to write, and we put the song
11:41 pm
together, and i knew i needed more than a sob story, so i thought with the rap and pregnant friends rapping with me -- neil: they were really pregnant? >> they were both pregnant. neil: very clever. it's viral. >> we're getting there. we're at 11,000 or 12,000. neil: after this show, it's up to a million. not to brag, but, you know. is there any message you have, though, to other entrepreneurs? folks don't think what it takes to launch a great idea, that the idea can be great, the finance behind it can be sound, but there's other stuff you don't expect. >> yeah, and there's just always going to be roadblocks and things that you come up against. i'm glad i found out later in the game so i had women saying, go for it, you have to do this. just go for it and decide i'm going whatever it takes to get it out there. neil: do you blame -- i mean,
11:42 pm
regulations have been going on, and democratic administration, republican administration. they say like 100 new ones on the books every day for years and years. there might be new regulations a year from now that will bar you from talking about the difficulties you're having with a product. >> what concerns me is it's 13 states with the law tags, plus the city of detroit. my township put aside that we should have a pig low tag fee, and then i have to pay it. neil: what happens when you take a tag off a ma stress or pillow? i think they shoot you, no? >> no. there's fines. neil: do not remove. >> there's a thick tag. you can cut it off if you're the consumer. when you own it -- neil: not at the store. right. my 2-year-old is obsessed of cutting tags off. neil: she's going to prison. >> we own it. the things -- we don't do it in the store.
11:43 pm
neil: regulations demands we rerun the tame and show it to government officials at the commerce department. >> sorry. neil: no, best to you, bright smart young lady. you got a music career or a comedy career or both. meanwhile, speaking of comfort, even in tough times, having a tough time cozying up to mitt romney, regulations or no. polls show voters overwhelmingly like the president more. psychotherapist says, and with the environment with regulations like this, you'd think the president would be in deep do-do, but he's not. he competitive if not favored. what is doing that? likeability? >> we are relational human beings. what happens is we make choices based on somebody likable. we think that saves us. rather than thinking about what
11:44 pm
the presenting problem is and developing a solution resolution for that, we think this person will care for us because we like them. neil: so that's what's giving the president the edge? any other incumbent in an environment like this would be in some trouble. so far president obama is not. to cut him certainly some real factual slack, he did inherit a mess as he reminds us so maybe the american people remember that saying, well, it takes time to correct that. i agree with you, doctor. i think there's something to this that he is still considered a likable guy. is that because mitt romney, by comparison, is not that well-known a guy? ronald reagan and jimmy carter, announce himself or expose himself on the national stage to be a cred l, likable alternative to the president. >> from a psychotherapist stand point, i feel what's going on. people are helpless, hopeless, and afraid. what's happening is part of
11:45 pm
obama's platform appeals to the fear. that exacerbates the already existing condition of worry so rather people feel they rely on him, that he'll care for them, and that exacerbates a womb-like conditions. yes, you heard that right, "womb-like," and rather than being independent and self-empowered, we have somebody else care for us. this concerns me greatly. i can share why if you'd like. neil: sure. >> okay. well, my concern is by us relying on a larger government concept, what happens is even the capable begin to feel incapable, and in essence, we are going through a transitional time in terms of our philosophical belief system of what america is and believes in. actually, self-empowerments, strong work ethic, finding solution resolutions within the
11:46 pm
presenting problem, economy, somebody who can help us with jobs, that would be the true box it out solution strategy, but with you feel so overwhelmed, it's hard to think with clarity and rather, you just want somebody to care for you, and that creates dependency, neediness, and entitlements that you deserve rather than you need to work for, and that concerns me in terms of people's mental wellness and well being, in terms of depression and anxiety, and self-worth. neil: i didn't understand a word you said, but you said it brilliantly. >> what! neil: kidding. it could boom rang in the favor of the president. if you need the government like a lot of people do now, you're going to like the guy who keeps the government around to do just that. that could help you. >> right. neil: you need help with psychology stuff, call me any time, doctor. >> okay.
11:47 pm
shall i give you my number? neil: absolutely. it's a family show. i just wanted to help. it's interesting stuff. very good having you. >> thank you. neil: meantime, i think we're becoming more like sweden. the land of abba, i love them. i love the fish, who doesn't. you know, i kind of like some of these hot swedish models, but, but, but, enough about me and my interests. this is what i don't like about sweden. entitlements. why what the health care law is doing now should have you saying "mam mia" about what happens here next so much. ♪
11:48 pm
11:49 pm
11:50 pm
11:51 pm
neil: well, the health care thing is like the gift that keeping giving. it's like an onion that you keep peeling and crying. latest news makes you tear up all the more. these costs go up and up. south carolina now reporting $70 million in unexpected health care costs curtesy of the new law. scorings of other states warn of higher college costs curtesy of the new law. here's why. the more states have to shell out for medicare and medicaid, part of the new rules and regulations associated with the law, the less they have for state schools so those tuitions go up, and into the wore, and you throw up. why is former lieutenant governor not surprised? why, with credit to this young lady. she saw this and told us about all of this as this was all transpiring when we talked to her live at the big weekend vote in washington a couple years ago, and every step of the way, she was saying this. it was like a health care
11:52 pm
nostradomus, just less sinister looking. >> you don't have to be a genius. there's no tooth fairy. that's the story today. neil: this is about savings; right? >> no, the new law requires you to pay up front in your premium for things the president says are free. he crosses the country saying this law guarantees free preventive care lik free mammograms. well, they are not free. the law forces you to pay up front for them. then if you decide to get one, you don't have a co-pay or deductible, but, neil -- neil: when you have the tests do you get a check afterwards? >> no, you don't get a check, but you don't pay anything at that point. forced to pay up front feels almost as bad as getting a colon os pillows. neil: up the rear. so, now i'm looking at this and thinking what other surprises are coming our way? every time you come back and there's a new round of surprises, you predicted, you say, oh, this is just the opening attraction here.
11:53 pm
what more is coming? >> one of the worst surprises is you're going to see a steady increase in -- neil: that i hear, but don't believe. >> the law forces all hospitals to spend only what the lowest cost hospital spends for the elderly. any hospital that spends more on elderly patients than the minimum is whacked with penalties; right? some seniors will not survive illnesses they could have survived in a hospital that gave them more care. we have data from the -- neil: you're supposing that. >> no, we have data -- neil: it hasn't happened. >> it has. we have data from the state of california, all the hospitals in the big state, and the data shows seniors treated at the lowest spending hospitallings did not survive their congestive heart failure, hip fractures,
11:54 pm
sue moan ya, whereas others treated at higher spending hospitals with the same problems survived, recovered, went home, and resumed the active lives. we can see from the data what's going to happen to seniors all over the country. neil: was supposed to be worth it. 30 million who were uninsured can walk in and get medical. >> worth it? cutting lives short? neil: you had doubts about whether the 30 million will be insured any way. >> of course. the other problem is this. doctors are paid less to treat a senior on medicare than those with medicaid. the program for the poor. you know how hard it is to get a doctor to take medicaid. doctors will be paid only a third of what doctors are paid to treat parties with insurance. most doctors don't take medicare anymore. those who do, they won't take the time. they won't spend time on hip replacements, and they can't say
11:55 pm
to you, you need the care, pay me extra. that's against the law. you are trapped. you are trapped. neil: bottom line, we are kicked in the rear. >> right. neil: you have been scary right on this. good seeing you. i'll see you at the convention. >> thank you. neil: the convention is on. republicans set for one grand old party. who do you think is crashing it? i'll give you a little hint. he's not a
11:56 pm
11:57 pm
11:58 pm
11:59 pm
neil: all right. things are moving fast and furious and another only in the gulf for we have a storm building up some steam, but at least not building up some steam in tampa or so republicans so. following all of this and the last day for the republican team to make its pitch before their big pow when florida. that is why we are live. 10:00 a.m. eastern time. it being simulcast on this by network and fox news tomorrow. then the big republican convention. each night, every night from 8:00 p.m. eastern time right through a 11:00 or later if need be, doing the same with live coverage next saturday between the conventions, then the following week, charlotte, north carolina. we are all learning or pay here because we just found out something. the other anchors your page. that was a shock. that was totally shocked. so, i'm making my pick to prove that i should be

55 Views

info Stream Only

Uploaded by TV Archive on