Skip to main content

tv   Lou Dobbs Tonight  FOX Business  May 28, 2013 10:00pm-11:01pm EDT

10:00 pm
for tonight's willis report, thank you for joining us, have a grea night. lou: good evening, thank you for being with us on what has turned out to be a rord setting portfolion ll street. st week there were endless predicon z of pullback or coection. following market's first 3 day losing streak of the yr. but today a broad rally, and nothing but bullish sentiment. dow jes gaining 106 points, ending at a new record high. s&p up 10 points, closing just 9 points below its all-time record. and the nazdaq up 30 on the day, stock pricing surging after central banks reassured investors they areticking to
10:01 pm
their easy money mollities -- licy, also driving rally news that home pricesose by the most in 7 years jumping 11% in march, and report showing consumer confidence urged at well -- as welll hittingng a 5 year high in may, may pitive has proven to be stellar for markets and the economy it ha proven a dirt aster for president obama. doing his best to get out of dodge heading to jersey shore, leaving him 4 congressional investigations that are being mounted to the irs targets of conservative organizations. while the president made his way to jersey shore. eric hder was doing his version of making nice. it seems to have occurred tohe white house, they are in trouble with this attorney general, holder aattack on first
10:02 pm
amendment and 2 news organizations, even eric ole ser trying toain some form of humility, his office ending out invitation to media organization to hold meetings with attorney general rally, next week maybe. in a setback for holder, the house judiciary commity is now looking int whether the attorney general lead under oath to month, when holder said he was not involved in quote, potential prosecution of the press. end quote. and it is not just the president's domestic policies under fire but his lack of action on china. you know china has been showing off its new stillth fight -- stillth fighters and long range missiles, chinese hackers gained access to most advanced designs of our most sensitive weapon
10:03 pm
systems, we will have his covered her fox news military analyst, four-star general jack keen will join us. and ktmcfarland, and dennis kucinichill joins to discuss the oba internal revenue service scandal. d chief equity strategy sam stovall. we begin tonight with the cyber war, that is now engagedean the united states and china. one that a new pentagon report reveals china may be winning when it comets america's top miliry secrets, fox news national security correspondent jenniffer griffin with our report on what military systems may have gone slen. >> reporter: chinese hackers accessed designs of u.s. military most secret weapon system according to a an ex of a
10:04 pm
defense department report. obtained by washington post. sources familiar with the defense science board finding confirmo fox that nearly 2 dozen weapon systems appear to have been compromised navy's prier ballistic missile defense system, and pack 3 patriot missile system, deployed to asia amidst rising tension with north korea. marine corps osprey, theavy's new combat ship, but perhaps move worrisome is the design breach involving loceed-martin adnce stealth fighter jet.
10:05 pm
he said there is a chinese red army, and a blue army. >> which consists of their elite cyber group, that are involved in infiltrating andx fill trading data not just from u.s. governmenn but u.s. companies. >> reporter: china's people liberation army unit 618 is thought to be launching thsands of attacks daily from one city blo according to a consensus report produced by all 16 u.s. intelligence agencies. pentagon spokesman george little tried to reassure american allies, quote, remaintain full confidence in our weapons flat s platforms, the suggestions that there are leaks are incorrect, chinese government balked at the newer accusation. >> we've said many times that cyberattacks are a global
10:06 pm
technology, since it is technicallyntraceable it is difficulto find the source and identify the hacker. reporter:white house said that issue of cyberattacks will be brought up when president obama meets the chinese president next month in california, lou. lou: thank you very much, jennifer griffin. >> meanwhile delopment in syria putting new pressure on obama administratn. european union has lifted arms emrgo as new repor of chemical weapon use by assad regime emerge. a u.s. senator is freelancing with we rebel leaders over the memorial day weekend, we turn to fox news chief white house correspondentd hry. >> reporter: obama administration tried to put the be face on e.'s decision to end its arms open barringo on syria. >>t sends a message to assad regime that support for
10:07 pm
oppositi will increase. >> reporter: john mccain kept the heat on the white house after aecret memorial day trip to syria, tweeting it was an opinion visit with -- important visit with brave fighters in ria. with military analysts declaring pressure is building to presiddnt obama to arm the rebels, after mccain's high profile vis. >> the second thing is a bit of a poke in the eye to the obama administration. by saying, look, i am here, imwilling to support the army of the rubbles, time to -- rebels time to get onboaoard >> reporter: otter expert ne some rebels a tied to al qaeda and mccain seems too eager to to war. >> we can't let go of afghanistan, now he wants to us actively support syrian rebels. >> reporter: john kery is pushing for an early june coerence in geneva.
10:08 pm
>> we want to make this conference happen, with many other countries. >> reporter: russia also is working against the u.'s interest, by giving antiaircraft missiles to assad's regime, infur yat israeli officials. >> because we act forcefully. against any threat or any attack. >> reporter: president signals in two speeches over last week, one av national defense university, and one at arlington tional cemetery he is realning america's war in the world. >> this time next we're we will mark the final memorial day of our war in afghanistan. so, as i said last week, america stands at a cross roads. >> the daily bee claims that president has for a new plan of a new flow zone over syria,
10:09 pm
today the pentagonhot that down. lou. lou: thank you, ed henry, chief white house correondent. new development concerning ben beebenghazi scandal, congressman issa issued state department documen relates to the talking points, he's documents and communication fro 10 current and former state department officials, iluding several who work for former secretary of state hillary clinton, saying thattate department refused a nber of requests to provide these documents, he is giving them until june 7. >> great economy reports, a triple digit rly net dow, we're joined by s&p sam stovall next. >> chinese hackers stealing u.s. military secrets, as defense hawks try to push thh united states into conflict in syria.
10:10 pm
>> natiol security experts ktmcfarland, and general jackk@ keen assess america's next move.
10:11 pm
10:12 pm
10:13 pm
lou: presidentbama and governor of new jersey reunited on jersey shore 7 months after superstorm sandy, president obama, telling resents there that jersey shore is quote, back and open for business. end quote. but despite the president's reassuring words many shore communities are still struggling and struggling mightily to rebuild. new jersey suffered 42 billionollars of damage from sandy, many homes are still being demolished or gutted.
10:14 pm
the red cross has not spent more than a third of more be that 300 million it raised to help the sandy victims, red cross said they will need that cash to address sto victim's long-term needs, theyay are not being -- that are not immediately apparent. we'll be looking into that as we. turning to the syrian conflict. an arms race may be brewing as united states and rsi try to bridge the assad regime, and opposition leaders tgether for peace talks,oining us now former pentagon official, kt mcfarland, and general jack keane, retired former army general, chief of staff, it is great to have you both with us tonight. kt. start with the spectacle of you willith a senio senator of arizona, going to syria to talk about arming rebs, your reaction? >> we d not belong ihe
10:15 pm
middle of somne else's civil war, this is a great tragedy, what is the objective? how are you going to achieve that objective, this is not ease or quick, i think the story you opened broadcast, chinese hackers that is whe we should pay attention, to syrias important, but, the cnese stealing trillions of dollars o american intellectuacapital and defense, capabilities i to me is where the problem is. lou: i'm confirmed in our lead. >> you are. lou: general your thoughts on syria. >> i disagree, if we never want to be involved in anyone's civil war we never back any insurgencies. and we have done both of those, i think. largy for pretty good reasons, the fat is no lesshan secretary of sta clinton, and petraeuselve it is possible to a rebels, vetted groups still achieve some outcome, i don't believe it could be
10:16 pm
decisive now, time on the side of the assad. and he clearly is onhe move. and frankly, i believe this obama administration and others are paralyzedyear o adverse consequence, their the situations is hopeless there is nothing we did do about it we can do something about i i also would take down assad's airfields and a lot of his missile systems, iould not establish a no-fly zone yet, but the tipping point, militarily, want assad to go, would be stop his air power from flying, once that happens, the momentum will -hift quickly, does not mean we know what political outcome will be, we down,ha is the retaly of it, we knowhat we g if assad stays in power. >> syrian rebel setting a 24 hours deadline for hezbollah to withdrawrom its support of assad is there a possible that
10:17 pm
would be met? >> n lou:hat is u.s. interest. >> syria is now liking bar scene in the star wars movie, every bad guy in the universe is the, over aouse rebel groups, the most powerful onc are tied to al qaeda, they are afilliated. any threat that anyone is making right now is not going to happen, they are in it to fight to the finish, if i have to say r a mine. general jack keane, i respect when you said but when you say i don't know what the political outcome is, what did we just have? i'm not sure this is a situation we want to go ingain, and roll the dice, and hope it will be better than when we have, assad is a murderous thug, he will you know rot in hell, but the thought we'll get involved in a war in middle east where we don't know political outcome is
10:18 pm
short-sighted. lou: general, go ahead and respond, then i have a qstion to follow-up. >> it is not just about assad, he is a brutal dec at this time -- dictator, we do have change sweeping through middle east it does prevent us some opportunity to influence outcomes not control them, and military action i'm suggests would be limited. and reality this is more about iran than it is about syria, this is our strategic enemy in mide east, they set on their geopolitical objectives to control the region, the coalition of lebanon,yria and ir is real to them, they are in, they hav thousands of fighters on ground, they have a 2 star general killed to drowned that is how serio they are -- th use proxies, and hezbollah are very much involved for the same reason, a lot of risk to hezbollah hereecausehey are
10:19 pm
fighting jihadists as well. you get eye sens a sse of how st is, to me if is a geopolitical interest in the region. lou: it has to focusn our key allie in the region, that is israel. which isirst of all, armed to point of making sirius thatsd today. if the f300 russian missiles are brought in and isrs are uncontinental forth an about -- uncomfortablebout that, becae of the involvement of various elements of radical islast groups. >> no mistake about it. yeah, i agree with that premise, this is number one issue for the israelis, the transfer of weapon systems to the a ahea hezbollahs
10:20 pm
difficult to trafer s300s to hezbollah, but there are chemical weapon there and other issues, does not make realty of s300 any less real, that is a sophistited sim, in the hands of the syrians ty could do real damage, but the fact of the platter is, this is a defense system that is well within u.s. capability to defeat, but a few other countries could defeatt. lou: turno issue you raised. wand to understand why now we have known that the chinese are carrying out with their front companies and their cybettacks, assaults on u.s. intellectual capital, weather control of our military or under the control of the private sector, for literally, two decas. why now, why is it information leaked and release how did washington post gets it happened on this? to wha end or purpose of that
10:21 pm
obama administration. >> i is reaching a critical mass, every one of our major weapon system seems to haveeen hacked, and they hacked into the fighte, they put o out on tarmac before we could, i think you are seeing a lot more of it, it is reaching critical mass. lou: general, your thoughts? >> well, i think we have to take the gloves off with china, we -- private security company tt exposed this numbe of weeks ago, cld have exposed 20 different attks, they had pictures of the people doing it, that is how much we know that i a private security company, we know what the chinese are doing, we steal their intelligence, they steal our technologien and teligent, we have got to expose them for what they are doing, and we're unwilling to do that. anand until this obama administration is willg to do, that they will keep oncomg, they do not want public exposure they believe they have
10:22 pm
deniabilit because it is cyber, you don know who theackers are, put it out publicly, at least tell chinese, we're goi toxpose you unless you change your behavior, this is what we can give do the world pubc at large ifou don't curb your behavior, we may make progress th these guys. lou: general jack keane, and kt mcfarland i thank you. lou: coming up, the authors of theoo, will jn us friday. next week legendary defendre of firstment in wilment amendmeo us talk about his new book, you don't want to miss any of those folks, up next, bulls keep charging a record d on the do you wall street veteran sam
10:23 pm
stovall shares his perspective, and mor straight ahead. stay with u us. before copd... i took my son fishing every year. we had a great spot, not easy to find, but worth it but with copd making it hard to breathe, i thought those days might be over. so myoctor prescribed symbicort. it helps significantly improve my lung function starting within five minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. with symbicort, tay i'm breathing betr. and that on! symbicort is for copd
10:24 pm
including chronic bronchti and emphysema. it should not be taken more than twice a day. symbicort may increase your risk of lung infections, oeoporosis, d some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking it. with copd, i thought i'd miss ourur family traditio. now symbicort siificantl improves my lung nction, starting within 5 minutes. and that makes a difference in my brehing. today, we're ready for whaver ims o way. ask your doctor aut symbicort. i got my first prescription free. call or cck to learn more. [ male announcer ] if you n't afrd yr medicati, astrazeneca may be able to help.
10:25 pm
10:26 pm
♪ lou: another record performance for wall street following upbeat news on the economy. the dow jones industrials closing on aew record high, s&p and nasdaq also moving higher almost one fulll. volume on the big board, just under three and half million shares. ratings agencies moody's raising its outlook to sbl from negative word has been since the 2008 financial csis. gold falling $8, selling just below eight teen -- 1318 oz. crude-l up, and the bond market on the ten year note soaring to 213% the highest level in more than a year. my next guest says excitement in these markets is coming from orranic growth, not just the fed's easing money policies, but
10:27 pm
only on -- a matter ofime before we see somethingew. joining us, chief equity strategist for s and p capital strategists. so, you see things movg ahead and tell they don't, is that -- am i rht? >> a pretty good description i think all longer term. a big upward turn for the market, mainly because the economy is staying out of the recession. it is growing, albeit quite slowly. corporate rnings are risg. we are not at stressed levels of valuations, p/e ratios. interest rates are low and quite frany, not a lot of alternatives out there for. lou: today week saw the market moved up. it gave aboutalf of it back. still, a great performance on the day, the data new record high. you kind of wonder, when u see this interest -- enthusiasm that lanes during the course of the session it makes you think a little bit.
10:28 pm
>> i think what we should be thinking is we are listening to the pilots say, fasten your safetyelts, we might be approaching turbulence i she is not saying dawn your parachute and a symbol by the door. basically, t decline in stock prices of five to even 20 percent has happened on average every year since world war ii. is not a rare occurrence. i would basically say they will probably see some turbulence, but it will probably also end up being a good buying opportunity. lo great news for the banks, in particular. the financial said been doing very well, despite the failure of moody's to act for just about five years on their upgrade. housing, i mean, these are remarkable numbers. we are looking at so many quarters of this economy that are doing very, vy well. we have ligers without question, but where does this economy go now? and what will be the key here that says to the fed
10:29 pm
specificly mr. bernanke, it is time to, you know, give very serious and stoic andtart talking abo taking it from a 5 billion to may be 60. >> when you s start with a low number, improvement of that numberurns out to be a big percentage change, so we are still looking at housing data that is well below the average is going back to 2007-08. t because they are very low on inventory levels,ecause a very small numbers, the percentages look good. that does not mean you should dismiss them. it says that things are healing. our overall economy remains in what i call i have speed recovery mode,ll the growing and about half of what the normal rate has been ihe firsthrough fourth year of the economic expansion, and we are now beyond the average age of an economic expansion since world war two. lou: so investors can look at and say, well, only half did it get a little power behind it and pick up the other half orrom
10:30 pm
where we have been, have this pretty good. >> true. and beause investors are still pointinn to a weakness in the economy, elevated and eloyment rates, ao looking really at other factors that worry them, that is why they aren't not jumping in together and the old saying tha the bull market takes the stairs while bear market takes the elevator. lou: your best counsel to investorright now ven where we are and where you think we are head. >> make sur that you have the appropriatexposure to equities based upon your age, time horizon, risk tolerance. don't go to extremes, and it don't get caugh in the overall transfer. at the same time, if you are going to keep waiting for a pullback in prices, you might be waiting for a while. lou: great to see you. thanks. now, the weekend box office breaking records with the biggest memorial day weekend in history. universal pictures cebrating their biggest did you ever, fast and furious sixth -- i saidix. it finished first taking in over
10:31 pm
96 million. warner bthers the hangover pa three came in secd with a lousy $42illion. and it star trek into darkness claiming third place with 37 million. that is a powerhoe weekend. the irs scandal expan as a number of ancies and congressional committees launch investigations. formerongressman dennis kucinich on president obama is very bad month. attorney-general eric holr accused of lng uer oath. you should investigate america's top lawman? we take that up next in the "dobbs law." ♪ at od, whatever business you're in, that's the biness we're in wi premium service like one of the best on-time delivery records and a low claims ratio,
10:32 pm
we do whatever it takes to make your business our business. od. helping the worldkeep . bjorn earns unlimited rewas for his small business take theseags tooom 12 please. [ garth ] bjorsmall busiss earns double miles on every purchase every day. produce delivery. [ bjorn ] just put it on my spark card. [ garth y settle for less? ahh, oh! [ gah ] great businesses deserve limited reward here's your wake call. [ announcer ] get the spark business card from capital one and earn unlimited rewards. choose double miles or 2% cash back on every purchase evy day. what's in your wallet? [ crows ] now where's the snooze button?
10:33 pm
10:34 pm
♪ lou: world health organization director general is warning that a new virus recently found in humans is a threat to the entire world.
10:35 pm
the so-called virus acts like a cold attacking the respiratory systemnd eventually leads to eumonia and kidney failure first discovered back in september and since then has infected, get this top 44 people worldwide. that's, the who knows exactly how many people have been infected with this switch in and of itself is interesting. most of those people are in the middle east, and half of those fected, half of the 44 who have been infected with this virus have died,2 people. and they are watching it, obviously, very closely. four separate investigaons into the internal revenue service targeting conservative groups in our next guest says the scandal will lead disappear anytime soon. joining as is fmer democratic congssman, fox news contributor, dennis kucinich. great to have you here. >> gooto be with you. lou: this irsargeting
10:36 pm
conservave groups, there are now four committees that have set out to investigate. your thoughts? >> well, the fact that every american h some intersection in their lives to with the irs every year, this shows you that people understand the power of the s, and win there is information or some acknowledgement that power has been misused the american people can understand that,nd that is rely aark against the government because people don't want thisin of intrusive power us against them for political purposes. that is why it this is not going to go away soon. lou: and its rock abuse of power, and the investigations are reaching out to chicago, starting in ciinnati reaching across the country, and this goes beyond simply the targeting
10:37 pm
as if that is not bad enough, because it certaly is, the targeting of conservative groups for political purposes, but then sharing that information with left-wing new outlets. i mean, that is pretty strong and dangerous stuff compounding it all. >> well, you know, it is very interesting. i have heard the stories. on one hand, the media is being told that i some cases it may compromise national security by pursui some story with a source. onhe other hand, we have the media, the potential of the media being used in order t further a political attack. this is not appropriate. we have to have the government get its house in order here. lou: to be clear,he epoxy and the contradiction and then the actual contradiction of the intellectual architecture theree
10:38 pm
is all that of the obama administration. it is not external to the administration. they created it all themselves, and they? they chose to pursueks. they just -- >> right. i have bee right at the forefronin challenging the violation of the first amendment that i have seen, the -- going in sveiling the media, the violation of the rights of, in this case, conservative groups, whose politics were the basis r an irs inquiry. we, as americans, have to close ranks here because when it comes to making sure that the power of government will not be misused, this should not be a democratic, republican issue. we all must agree. lou: and i think tt and nightt and i have pointed out that an independent and
10:39 pm
democrats can agree -- may be an independent conservative. you want to attach anything to that? >> my first loyalty is to my country. lou: amen,rother. >> we cannot be so loyal to a party that it blinds us to what is going on and we begin to perceive this selectively when let's say some of my republican brothers a sisters cannot see somef the problems in the bush administration but can in the obama administration. this kind of politics that is polarized is dividing our country further, and we need to have a coherent view of exactly what i happening, and the way you do that i to see it clearly without regard to partisan affiliation. lou: and the curious blessin that sometimes comes up like a burden agassi a few probls with the sh administration as wl as this one. thank you so much. dennis descent to -- dennis kucinich, we appreciated. take a moment to get in touch
10:40 pm
with us. e-maile. eet me. how about that. up next, house lawmakers inveigating whether the attorney generive and gwth we will take a look at the evidence. tell us what you think. "dobbs law" on the case. arthur idolater joins us. i am sure he will agree. we're coming right back. ♪ [ male announcer ] we gave the new e-class some of the most advanced driver systems ever made. stereoscopic vision... distronic plus braking... lane keeping and steering assist. eleven enhanced systems in all. ♪ twelve, counting your adrenaline system. the 2014 e-class. the mt intelligent, exhilarating mercedes-benz ever made. see youauthorizeded mercedes-benz dealer for exceptional offers through mercedes-benz financial services.
10:41 pm
10:42 pm
10:43 pm
♪ lou: the house judiciary committee investigating whether attorney-general eric holder lied under oath earlier ts month. at issue, his claim about whether a new aboutrosecuting reporters under the espionage act. >> with regard to the potential prosecution of the press for the sclosure of material, that is that something that i've ever been involved and heard of or would tnk would be a wise
10:44 pm
policy. lou: we now know that it was the attorney general who personally approved the search warrant concerning fox news james rose in. joining us now, form prosecutor, criminal defense attorney, both fox news legal analysts. it looks to me like the attorney general lied. >> i think that is pretty plain and simple that he absolutely did. he did not have any knowlge. find out by the magistrate judge that he was given wng information and the only reason he signed off on the warrant for roses e-mail addresses, and he signed off on it. now he is saying he did not know about it. good luck on the funding that one. >> excuse me. i didn't it -- lou: come out of your corner. >> is in this your former agency? lou: that looks like us trade and open and shut case. >> i have had clients to have
10:45 pm
been threatened with jail for a lot less than that, less than that. martha stewart went jail for basically the same exact thing, and she is a layperson. he is not only in attorney, he is supposed to be prepared. there is no excuse to have a lapse in judgment. lou: see essenally said i don't note seven times. >> find out and signed off. >> the former agency, the people who are supposed to prevent people from line wentn front ofhe prestigious panel and lied. >> so you agree with me then. >> agree that your former employer messed up. should be pished. punished.ay you always want my lou: there isgreement. lou: let's proceed. we have a lot of the dockage here. i know about press. i know about docts.
10:46 pm
>> case files. >> the xbox issue and the hen and the lionas pushed the associated press und the table. >> and that happened a week before we heard about rosen. that was already there, so this is the second and maybe the third. lou: we do not know how much experience this attorney general has in, one, going after the press because this -- this -- these court documents were sealed for a year-and-a-half long then they were supposed to be. a judge, by the way, apologized for that. >> the judge get that information. lou: bad information? your going after an organization and calling corresponnt the criminal. >> to be fairo the judge, but he hadn front of him was an affidavit that holder signed off on. lou: toign that affidav, the u.s. attorney? >> the fbi. lo and the fbi agent, both, correct?
10:47 pm
>> rht. >> a then they bring it to the judge, but it is based on the at -- there are many same issue that never happened. it would have gotten through the layers before it even t. ♪ you know why it got through? get a bunch of true believers in the room. >> i don't know what they are believing in. that is the issue. they did not belve in the constution of the united states. they sure as hell did not believe in that, did they? maybe ashes called venture disbelvers. what dyou think? >> to try and think that they did not realize, that is not the judge. it would not get caught. you're talking about fox news. lou: let's back off here just a bit. when i said rue believers, i mean that in the political sense. the ason that i think that we have a pretty good case for that is, the attorney gener had to shop this deal around looking.
10:48 pm
it was the third. lou: i don't think tre is much wiggle rm, even for these folks to make a living out of wiggle. >> and the term that is used in the law is killing effect. you are not supposed to create a chilling effect for the media to do their job. to pick up the phone a call he needs to do. >> and is not just james rose in -nd fox news. it is everything. tl a reporter, if you do your job wlome after you and call you a co-conspirator. lou: the reason he says cbs is because of cheryl atkins. so far -- i mean, we have to take them at their word. the justice departmens said it did not dot. adult think w have to take them at theirord. that is huge. >> that invtigation will go on. lou: this dministratton is responsible. i mean, such a disguing.
10:49 pm
accountability. there needs to be integrity. >> well -- lou: steve think will get an intation? >> i don't think that wld being out there anytime soon. lou: thank you very much. >> thank ou, sir. lou: both great. >> and we are not fighting. >> well, littleebit. fighti on the promise f. lou: coming up tomorro author of the best selling book, ed klein, former columnist will be with us. up next, america's greatest days are yet to come, so say the authors of this brand new book. they explain, america the version three next. ♪
10:50 pm
10:51 pm
10:52 pm
10:53 pm
lou: my next guest says that at that time when our government is crushingly expenve, failing in its basic functions command seemingly unable to keep its omises, america's best days are still ahead ofs. america -- america 3.0, rebuilding american prosperity inhe 21stentury thank you for being with us. want to start, i i may, because it is so timely, talki about the abolitionf the internal revenue service. let me start with you. you would have thought that such a thing wasven -- well, even at a distance possible. people are talking about it right now out of the ancr what the irs has done. >> we were a little surprised at a prediction that we thought would be much farther dnstream and now seems a little more apt because of the recent events. what our thinking is is that the country is in at time of transition. it seems le it is inecline,
10:54 pm
and you have peoplwho say everythings fallingng apart, but it is not. we're moving from a 20th-century industri era government that cannot do its job anymore b have a replacement is coming next. the irs is the classic mid 20th century big bureaucratic heavy handed operation. grettably it is also rently pretty obviously politically corrupt as well. so the sooner that we c move towardhat the better. lou: you guys arguedhat tte government is going to become smalr, less significant. how so? >> well, we believe that as we say, we are at a transition point between it and all system, what we w call america 20 which served the country and it's time that has become too big and cumbersome and is now working. obviously coming up against a financial crunch where basically the promises have been may eight and just cannot be kept in the formhat they have been
10:55 pm
made. i think that we will have a series of financialitical crises. we have always seen -- i think they're more to come. at some point people will realize that more of the same is not going to of work. more of the same, but twice as far is not going to work. more of the same bill with better people, none of those will work. we say that the financial political crises are goingo force us to do what we call the big hair cuts, look at the enormous debt positions wch have been run up with the ability to pay and say, we are going to have to have grand bargain is where the important thing is ted be as fair as possible. things get trimmed back. lou: let me ask you, what will drive this new era of prosperity what will be the catalyst, the driving force? would it be- what is now an
10:56 pm
imminent energy boom in this country, thnological breakthrough? what would be? >> i think there are a few features. the energy boom is nice to have. the technological changes are was appreciated an important is the america people andhe culture that we have here and ve had for centuries really prepar us for -- to be an enterprising freedom loving community. the new technology is not like the 20th century industrial era mass produion technology. it will be muc more like back when you had family farms and small businesses50 years ago except mmensely more productiv and connected with each other. lou: thank youery muc airboat is america -- america 3.0, o sale now on line in bookstores everywhere. go to f links to the books as well.
10:57 pm
we thank you for bei with us and thank you for oining us here tonight. we will see you tomorrow. tomorrow night. good night from new york. ♪ you hurt my feelings, todd. i did? when visa signature asked everybody what upgraded experiences really mattered... you suggested luxury car service instd of "strength training with patrick willis." comon todd! flap them chicken wings. [ grunts ] well, i travel a lot and umm... [ male anouncer ] at visa signate, every upgradedxperience comes from listening to our cardholders. visa signature. your idea of what a card should be. visa signature. e you still sleeping? just wanted to check and make sure that we were on schedule.
10:58 pm
the first technology ofts kind... mom and dad, i have great news. is now providing answerfamilies need. emens. answers.
10:59 pm
11:00 pm
neil: forget t attorney general or acting irs commisoner or former irs big wig, now on leave. if you want to know what scandal stands to me you reall sick, it is woman overseeing health care law presumably in charge f keeping us well, it is sebelius. i am serious. i am neil cavo, sebelius is running scared, getting scrutneeded for hitting up prive companies for singing the praises. it is not s


info Stream Only

Uploaded by TV Archive on