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tv   Your World With Neil Cavuto  FOX News  November 9, 2010 4:00pm-5:00pm EST

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the suspect only got $15. that's it for "studio b" so, missile. get anything on the missile, call us up because we know something was beginning on. see it? see that thing there? conan o'brian. has anyone called conan o'brian? that blimp, at one point i was afraid it would crash into yankee stadium. not to be confused with cliff lee. just saying ... >> the world witnessing a american president talking up capitalism as a wall came down, 21 years later, did the world just witness the reverse? welcome, everyone, i am here for neil cavuto and this is "your world." president obama telling the world today, we want china to succeed and prosper and we are not interested in containing that process. don't get the donald starpted, he has said we are losing the
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country but wait until you hard him now. donald trump joins me on the phone. what do you make of the statement on china today? >>guest: it is terrible, just unbelievable, unthinkable, can you imagine ronald reagan making that statement, can you imagine any president making that statement, china is succeeding. they are rebuilding their country off our money. we are making so many products in china, paying china so much money for the products, that you go to the chinese cities and they are rebuilding cities and new cities that are bigger than any of our cities. it's absolutely insane to have made that statement. >> what are you going to do? we have a trade problem with china but we have news today that g.e. is getting a $2 billion investment out of china and news also today that saginaw, michigan, china is the number one employer in saginaw, michigan. >>guest: that is a small place that is wonderful but they are using that just to show how nice they are when, in fact, they are
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not looking for our good. and they should be looking for their good. and to have people that are very, very smart, and what i would do, you have such a huge trade deficit with china, the currency is artificially low and we have fallen into the chinese trap. we are now destroying the dollar to try and compete with them and we should not be doing that but we should keep the dollar strong and stable and we should tax chinese products. the people that talk about free trade, i am a big free trade believer but we don't have free trade with china, china is, literally, going to destroy this country if we don't get smart quickly, china will destroy our country. and they will do it with a smile and our people have no idea what is happening. >> president obama looked like like he was staking out a business position in advance of the big meeting with chinese. how would you judge president obama and his business negotiating skills?
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>>guest: we have the wrong people negotiating. when g.e. and they are good friends of my, partners of mine, great people, $2 billion is a drop in the bucket. we will get front page news, $2 billion but we are losing hundreds of billions to china. we are rebuilding china. and in continue to 12 years china will make us look like small timers. and it is off our back. >> but if we do something dramatic with china is there a danger we just ignite a trade war at a very difficult time for the world economy? >>guest: i would love a trade war with china because if we did no business with them we would save a lot of money. when you talk about even trade, they have devalued their currency, totally devalued the currency and i buy many products from china and the, and because i have no choice, the american companies cannot compete because they have devalued their currency. now we have fallen into the trap. we are devaluing our currency in
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order to compete. what that will do is instability in this country, a loaf of bread will cost $20 pretty soon, a candy bar will cost $10 and people are going to see, and look what is happening with oil. our lifeblood. oil is going through the roof. that is a combination of china and opec laughing at us. >> you are taking a strong line there, trade war with china, you don't mind it, but that's the last word. the government keeps spending. china keeps growing. but nancy pelosi is ready to start partying. a congress that is wrapping up has spent $6 trillion so let's celebrate the outgoing house speaker holding a party tomorrow, a fancy invitation says "to honor the accomplishments of 111th congress." democrat strategist says, yes, get out there, celebrate, they should. by the way, her office tells us taxpayers to not pay for that fancy invitation.
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chris, if the speaker's time in office was so successful, would health care reform, financial reform, et cetera, et cetera, if it was so successful, why didn't democrats run on that record? >>guest: they should have. they made the same mistake they did with roosevelt when he lost 72 seats. the ones that lost tried to pretend they were not there with the historic changes that will benefit this country for years to come. health care will be very popular five years from now. people do not understand it yet, it has not been fully imcompleted but when it is it will be popular like social security and like medicaid and medicare. >> some people say she abused the process by ramming through the 2,000-page bill, do you remember "pass it before you read it."
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>> pass it so you can find out what is in it, away from the fog of the controversy. >> are you going to say we should celebrate that as a fine performance by the speaker of the house? >>guest: i have seen members would have lost their seat saying, nancy made me do it. you are elected by your constituents to go to washington, dc to serve. if you did not like what she was giving you, you should vote "no," they voted yes because it was the right thing to do, and they will celebrate this years from now. >> many democrats lost because of the abuse of the process by the democrats. ramming it through, you have to pass it before you can see it. what do you think voters thought about that abuse of the process? >> i don't think any democrat or any member of congress has ever lost because voters understood the congressional process and what it took to pass a bill. if that was the case the voters are angry about the economy which is slow to get going again like they were in 1932 when they
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sent 72 new republicans to f.d.r. one of the most successful presidents in history and if not for him, god help us out. >> you liken speaker pelosi to fdr. i remind you, that during her speakership we spent in the last two yours, in this congress, we spent $6 trillion. do you remember her saying this is the end of deficit spending? we racked up $3 trillion a year counting. >>guest: you are counting the $1 trillion of the bush administration, and the $1 trillion of tax cuts which you refuse to tell me how to pay for the tax cuts. >> so, a trillion here, a trillion there, so it was not the end of deficit spending and we ram through a 2,000 page piece bureaucratic medaling called "health care reform,"
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which will not lower the cot of health care. it is going up already. and you want to get out there and celebrate. who is paying for the party? >>guest: 17 percent of our g.d.p. goes to health compare and the next close is canada at 10 percent. we have to fix it. this starts it. >> is the speaker going to take money away from the private jet that she has been using as a speaker to pay for the party? >>guest: it will be boehner's private jet now that he is speaker. will he give it up? can you ask him? >> who will pay for the party? >>guest: i am sure it is not the taxpayers like all parties in washington. >> and now the help of the democratic minority in the house of representatives, she is going to be the leader. elected bit left. only the left wants her in that position. and the left just lost this election. >>guest: actually it was the moderate republicans would lost their seats. >> the last wing republicans.
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(inaudible). >> you cannot distort like this. left wing ideas were repudiated by the voters last tuesday. you cannot get around it. >>guest: what happened on tuesday should be put in perspective, voters were thinking of the economy, their wallets and afraid tore their jobs and their family. the economy has been slow to get going and we did not get to this point overnight and we will not get out of it overnight. >> you are a centrist and you are happy with her continued leadership? >>guest: i have never been elected to congress, if i was i would have a vote. i don't have a vote. >> you are not happy with speaker pelosi? >>guest: i am not a member of the house democratic caulk. i work in the senate. i don't have any say in what happens in the house democratic caucus. >> the republicans are happy. >> be careful what you wish for
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she was careful in creating the democratic majority once and she might be able to do it again. be careful what they wish for. >> i would like to put a bet on that. did you see this? is neil cavuto married? because he is "hot." and someone is hot for "neil." and now she can get her fix all day long at foxnews.com/yourworld. what is the greatest problem for the united states, the deficit or the growing chinese influence? a tea party member wins even if she loses. you decide. democratic staffers on the way out are getting grief counselors
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>> the battle over who will lead the republican house conference, tea party hero rand paul backing not bachmann. welcome to the program. good to see you. it seems like the republicans have a bit of a dilemma. you want to use the energy and ideas of the tea party but you don't want it to control the party. now, rand paul backs you for this position, and it seals like
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a coup for your side of the fence. >>guest: listen, i hope conservatives and republicans and tea partiers alike would look at michelle and lock at me will conclude it is a no lose proposition. michelle is a dear friend and great conservative spokesman and brings a lot to the table. obviously if i didn't think i could be a good leader in this position i would not be rubbing, so hopefully it is a no lose proposition and we have committed to run the friendly of the race in republican congress history and i think we are keeping true. >> john boehner wanted to put a tea party person in a leadership role and it looks like it will be someone would will join us later this program, mrs. noem and you are doing something else that was demanded by a lot of voters, spelling out how you will save money. i think you have a plan, and there are various points, how you can save a lot of money very
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quickly and well run through the points. as i understand you are looking to save $1.3 trillion over ten years. >>guest: we start out with using up the saving, the unused stimulus funding, the bailout funds, taking spending back to prebailout, prestimulus level, freezing nondefense pay for federal employees, freezing the workforce, a number of federal workforce, a number of different other propositions, but it is time to start leading. if the american people have said anything if the last election they said "quit spending our country into bankruptcy." so, this is a start on a plan to do that. >> it is a start, $1.3 trillion if you can do it over 10 years but it is obviously nowhere near enough to get the budget more into balance and take a bite out
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of the deficit. you have at some point you have to go and look closely at medicare, social security. are you going to do that? >>guest: absolutely. ultimately it is unfortunate but math can be cruel. these are programs that according to the trustees are going bankrupt. programs that were a great comfort to my parents and my grandparents, frankly, will bankrupt my children. so i have cosponsored legislation along with congressman paul ryan of wisconsin called the road map to america's future that will save these programs and it doesn't cut the programs but for future generations, grandfathering the grandparents and letting them live under the current system, you do not have to cut the program but help sure that they don't grow faster than our ability to pay for them. frankly, this is heavy lifting. it will take democrats and
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republicans acting pore -- more like americans. does the president want to exploit the crisis? or solve the crisis? republicans stand ready to work with him to try to solve this. >> you are the deficit reduction commission coming up with concrete idea soon, first week in december. can you tell us anything specific that you really are going to look very hard at and recommend very, very strongly? >>guest: well, no, because there are 18 members on this panel and they all have not told me what they are willing to do. we are getting to the moment of truth on the commission and i must admit i don't think it was particularly designed for success. two thirds of the appointmentees appointed by the president are democrats. >> will it come up with ideas that are acceptable to congress and to the president? do you think? >>guest: i hope so. i want to get credit to the chairman and co-chairman.
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>> you are sounding negative, congressman. egging i am trying to be realistic. i have been disappointed what was brought up to use in the election and i question whether the president is wanting to exploit the crisis or solve the crisis and i must admit it appears for all intents and purposes democrats have taken health care off the table. if you take health care off the table you cannot solve the problem. >> donald trump was on the show ten minutes ago and worried about china and going after china. what is your position? >>guest: well, why want to precipitate another trade war but we have to make america more
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>> vice president biden announcing a new program today that will have the government backing low interest loans up to a reported $25,000 each to homeowners. the administration encouraging 100 million homeowner to make their houses more energy efficient. critics warn it is another risky
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housing program. but not dan with the center for american progress. he loves subsidies and loves government and plaintiffs regulation of all kind. i am sure you love this new home labeling program where the government would come in, do an audit of your house, give you a score of 1 to 10 and offer you a subsidy if you score low and you want to make your house greener. a subsidy, i bet you love it. >>guest: what i really love is appearing on your show. so, that's most important. but take a step back. most people would --. >> you want to put a label on the house and subsidize other people. >>guest: do i get a chance to answer you asked a question. first of all, most people would agree that saving money is a good thing and wasting money is a bad thing. and these programs which are
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voluntary, which are voluntary, which means you don't have to participate in them, will help people figure out how to reduce their heating bills and save energy in their homes and they can save from $300 to $1,000 a year every single year by having a more efficient home. and it is voluntary. and, second, if i can continue ... >> you want me to subsidize other people who want to get their house to be more green, that's taxpayer money going into another subsidy. you also want workforce training and skill standards to make sure that american construction workers and small businesses are prepared to build high quality homes with real energy savings and you also want new tools for finance, homeowners today are not making investments in energy savings so give them another subsidy. it is endless. subsidy. bureaucracy, rules.
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regulation. government. it is never markets with you guys, ever. >>guest: you have to understand that the programs you just describe are voluntary. you do not have to participate. if you don't want to. second, the cost is small if you are starting --. i have to participate because i am paying for it. eggs we they start out with a $25 million pilot program which is not chump change for the government. look how much is wasted on systems the defense department does not but a congressman wants because they are build in their district. >> can you guarantee it will always be voluntary. the mileage standards are not voluntary and moving away from certain light bulbs is not voluntary, are you going to guarantee this audit of every house that is always going to be
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voluntary. >>guest: i am not good at predicting the future but this is a voluntary program and why wouldn't you want somebody to come into your house and tell you how you can save $300 to $1,000 a year on your energy bill with a small investment. the reason why you need the loans is because a lot of people, maybe people not like you but a lot of people live paycheck to paycheck but if they can get a small loan from the federal government -- let me finish -- he can take the measures and save $2,000 a year on the energy bill. >> how do you do it efficiently and quickly? you raise the price of energy so everyone uses less of it. >>guest: so you want to tax energy? is that what i am hearing you? >> i am telling you how to do your job better, think markets, not government, not regulation. >>guest: these are voluntary measures that will help
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homeowners achieve a goal which is to save money on their utility bills. it is a voluntary program. >> i volunteer to opt out of paying for it. thank you very much for joining us. it is always a pleasure. no bacon, no bull, at senator demint lines up the votes to ban the pork we have a senator just signing on. and washington, dc, bringing in therapists for congressional staffers on their way out. hey, did you ever finish last month's invoices?
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>> a secret vote to ban earmarks is well on the way. senator demint is lining up the votes and it did not take much to get utah senator lee to sign on. welcome to the program, mr. senator elect. >> thank you. >> this secret ballot has nothing to do with congress but a secret ballot of republican part people in the house and the senate, the senate, actually to get a sense of the lay of the land. is there unity on banning earmarks, that is what the vote about? >>guest: yes, there is wide-spread support for the fact that we need to reform the
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earmark process rather agreece every and that is what this is about. >> it is not a universal agreement, amid republicans. i see this as a tea party idea. you put that idea to the republican party but you don't yet have universal approval of it when the republican party, am i right in that? >>guest: you may well be right on that but there is overwhelming support for the idea of doing this. the crd we have is that we need to put a moratorium, complete ban on the republican conference requesting earmarks. that ban needs to remain in effects until we can get the process reformed so we tonight have the logrolling, the trade making. the corn husker kickback, the sort of thing that lead to the, expanse of the federal government. >> i will roll in a little tape from senator mcconnell who thinks that maybe beening earmarks does not save much money. listen to this.
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>> i am willing to consider but it does not save money, an argument about discretion what we need to do is concentrate on reducing spending and reducing debt. and this debate doesn't save any money which is why it is exasperating to some of us who want to cut spending. >> how do you respond to that? he says it doesn't save money. >>guest: that presupposes that we don't get bigger government as a result of this deal making that we had when obamacare passed. neither obamacare or the stimulus pack only or tarp would have passed if it weren't for the sweetheart deals that were cut in the back room in order to give some perceived advantage to the key people casting votes for the programs. and that's what is leading to the expansion of government. >> it sounds like it is good politics like it has good
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political appeal at this moment right out of the election. >> but it is not just good politics but good policy. when you look at a mile long freight train from a distance and try to identify the engine car it could look like a small piece and it could look like half of 1 percent of the entire length of the train but it is what is driving the train and that is how i look at earmarks and that is how congress needs to look at earmarks. >> and you want a balanced budget amendment to the constitution. is that correct? that is what you have to push for, one of your aims to get out there on the books, correct? >>guest: that is correct. there is a group called balanced budget amendment now that released text of a proposed amendment i support and we need that on the books, we need to decide to balance the budget. >> that is a long term prospect because you need agreement with x number of states and legislatures across the country and you are talking aleast 10
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years to get it on the books. >>guest: well, it doesn't niecely have to take that long, but long-term prospects, the most worthwhile endeavors we have explored through the federal government have proven to be long term. but this is very, very important. paying down a debt when a year's type will reach $15 trillion is a long-term activity and it is something we have to focus on right now. >> you want to stop paying it down not just limit the growth but you want it down, that is your on -- objective. >>guest: when we stop deficit spending we can start paying off, however incrementally, the principle on the national debt. >> how long would it be before we can end the ongoing deficit? >>guest: you know, that remains to be seen. the congress as it exists now is
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not the congress that will exist in a couple of months. the political will exists among the american people to get a balanced budget amendment if place quickly and when a year or two or three, and start moving toward a balanced budget every year. that remains to be seen. those would ignore this demand, will do so at their peril. 2010 could prove to be a minor prelude. >> i am flatout of time but thank you, senator elect lee for joining us. >> breaking news, yesterday, now that the center of the fuzz is here today, the tea party-backed congressman elect who is very close to getting a seat at the leadership table, kristi noem is here.
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good add dealing with people. what the hell is wrong with you people? >> that poor guy could use a greef counselors. congressional staffers on their way out do they need one? employees of democrats who just suffered defeat are getting the help from grief counselors to cope with their loss. and now, career advise for them and anyone looking for work. what is your career advice for democrats would lost staffing job on capitol hill? >>guest: isn't that sad? i am trying to be nice. if you are a staffer, i feel sorry for you. i do want you do not lose your home. i want you to be able to pay your bills and what we have to remember and i do this as a financial counselor all the time i turn into a career counselor because that is part of it, the income side. there are two funds that serve us. the first is to feed our family. you take something, you get some
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inbill mccolluming in and whatever that is, even if it is not "the big job," the keep the wolf away from the door. the second function is to "live your dream," and do the thing that god put you on planet to do and it may take a while to land that again coming out of a staffing position in congress. >> you would think in the political business you would understand that it might be a short-term job and that you are susceptible to politics and you could be out the door, you should plan for it is what i am saying. >>guest: well you know it is coming. a friend of mine is a congressman who ran for governor and did not get elected and going out the door not in this wave but for different reasons and so his personal assistant was in our office interviewing for a position with us and she has been with him in congress for eight years now, and, so, there is a little bit of you that knows it is coming but some
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of you is in denial and wishes it wasn't coming and you wait until the last minute. >> i hear not so much financial, but psychological, get your led in the right place when the bad things happen to you. that is really what you are saying. >>guest: well, it is. you kind of have to analyze how much of a mess you have financially as to how quickly you have to take that "get by" job to get by with only. if you have a budge of debt and you have a big house payment and other things and no savings, this will be, that fuse will burn quickly. but if you have a little bit of pad, a little bit of wiggle room you can hold out for a better position. >> that is all we are looking for, a little wiggle room. thank you, dave. good stuff. >> gold, still glittering and still setting records. pushing further above $1,400 an
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ounce. the fed keeps ramping up or pumping out dollars to try to stimulate the economy. now, more people are saying "stop printing all this free cash and backing it up with gold." those people include judge napolitano were. so, are we going to have the gold standard debate? >> are we going to have it now? >> you want the united states dollar backed by gold? >> in the yours it was backed by physical gold from 1787 to 1913, the purchasing value of the dollar increase by 18 percent, but since the printing cash and the removal of the gold standard, in 1913, with not technical until 1971, but it has come down for purchase power by 92 percent. it does not take an economist from harvard to figure it out. will the country have the
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debate? i don't think so. i don't think this will happen. i concede it is desirable but there is a lack of momentum, a lack of public support. >> there is a middle ground. i don't think we will go back to the gold standard just like that. that is not going to happen. i agree. i can see the creeping use of gold as a medium of exchange. we are about to see on streets in america, two city streets, vending machines where you put a dollar in and put in small amounts of gold. this is a first step toward using gold as a currency. >>guest: here is how we got off the gold standard, an executive order by a president of united states to the secretary of the treasury saying "stop redeeming dollars for gold." it was nixon in 1971. no president since then has had the courage to invalidate that executive order.
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>> come on, you can't go back in a modern economy backing up the trillions and trillions of dollars which we have in our society sick lating the globe and say, if you have a dollar bilks you can go to your bank and get gold. >>guest: can you not do that because what we have done with 1971 which is flood the market with cash. if we go back to the gold standard we have to do other things like stop the printing presses and get rid of the federal reserve and the dollar would be worth a dollar whether it is in london or new york. >> stop mocking my accent? >> you admit it is an action sefnts. >> you got me! what you have not done is answer my question about the creeping use of gold. >>guest: i would welcome the crouping use of gold. and that might very well return us to the gold standard a couple of generations from now. >> because you will not get
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suddenly, we are back on the gold standard. >>guest: the government has so flooded the market with cash we are such a welfare dependent society, for example, social security is unconstitutional. but you can't stop it tomorrow. too many generations of people have planned their lives on it. it take as sea change in thinking and fidelity to the constitution to stop these things and they cannot be done overnight. >> you deal with stuff like this on "freedom watch." >>guest: i wish you would join occasionally. it is on the fox business network. if you don't get it "demand it," much loader than usual. >> rookie who could rook the republican leadership, kristi noem is here.
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republicans creating a new spot at the leadership table for newly elected members. today, we have the freshman congresswoman who leaders want to take the top spot, south dakota republican kristi noem joining me. a pleasure to have you with us. >>guest: thank you. thank you for having me. >> i wonder if you would react to something the mayor of new york said about tea party people. i will read it to you. "if you look at the u.s., who we are elected to congress, to the senate, they can't read, i bet a bumming of these people don't have passports." that is from the mayor of new york talking about people like you. what is your reaction? >>guest: well, that is a broad statement to make but i can only speak on my behalf. i have not met everyone newly elected to congress. but certainly well educated
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people that have the support of their areas and their districts that will come there and help make tough zigs at -- decisions that the previous congress did not make. >> that was a flatout insult from the elite of new york city. do you take it like that? >>guest: i got a lot of those during my campaign and we can take office against but we need people to get to work and have adult conversations. we cannot afford to focus on those comments. we have too much work to do and too man things to accomplish. >> 9 speaker designate boehner wants tea party person in a leadership position at the top teabl and it appears you are it. who gave you the call that you are going to be that person? >>guest: well, nobody has given me the call because a decision has not been made. as a freshman class we get to elect our representative and with the class, they will look at people interested in the position and looking for someone who is a strong voice. i have worked hard in south
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dakota, and got the support of people back at home. >> the reports are your staffers and i hate to interrupt you, and i am sorry, but reports are that staffers in your office are holding conversations with the speaker designate's offer about the leadership position. you are talking about it, aren't you? >>guest: i certainly have expressed an interest in the position but when it comes down to it, leadership may support me and may not support me but the freshman class gets to choose who they have and i think that is an pobts step that a lot of people are skipping. >> five days ago you were am benefit length about voting for john boehner to be the new speaker of the house. have you changed your mind? >>guest: well we need to look at who the candidates are. and it appears that represent of boehner will be the only one running. he is a strong fiscal conservative. >> you will vote for him? >>guest: he is up opposed and
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i believe he is 9 conservative vote we need leading the agenda. >> there is a suspicion that another tea party person would wanted to be if a leadership position may have been passed over by john boehner because she was prominent and well-known, passed over in favor of you. now, that is not a nice thing for me to say but it is being said on capitol hill. what is your response? >>guest: well, i have not had any kind of discussion that would indicate anything like that. i know the discussions that are going on in washington, dc, could be happening but i am in south dakota and all that has happened here and i have been asked questions about opportunity for leadership to be a voice for south dakota and i will ask the freshman class to support me if they choose. >> should it be ms. bachmann over someone else? >>guest: i don't know either
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candidate. they are people i look forward to meeting and talking to when we place the leadership election votes. >> are you enjoying this? you are handling yourself very well i am asking pointed questions and you are doing a great job. >>guest: i don't have a lot of political experience on a statewide basis or national level but i came out of a tough campaign and we need people who are willing to answer the tough pointed questions. >> you are very good at it. what is your first priority, job when, when you walk into the house of representatives? >>guest: we need to start looking toward balancing our budget, cutting spending. that is what i campaigned on. i have a lot of practice running small businesses and involved in agriculture in south dakota and people want people who know what is important and how to get our economy going and put people back to work. >> do you want all of the bush tax cuts made permanent? all of them? for everyone? is that a bottom line thing for
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you? >>guest: i do. they all should be permanently put into place. that is truly what is causing a lot of small business owners at home and across the country from making the tough decisions they need if they want to reinvest and ensure expand their businesses and. ploy people and put them back to work. they need that certainly, they need tax certainty and know what the tax policy is. >> you would go along with not spending the unspent stimulus money, right off get go that is what you want? >>guest: we need to quick digging the hole and make decisions on cutting spending so we quit adding to the deficit and the debt we have in this country. >> a pleasure having you on the show. thank you, kristi noem, republican from south dakota. that is it for now. tomorrow i will talk to super lawyer lanier who won a huge
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vioxx settlement, the guy that people love to hate. show kicks off here on the fox business network. and at 6:00 on cavuto an actor that has won academy award. stay tuned.
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