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tv   The Willis Report  FOX Business  January 11, 2015 4:00am-5:01am EST

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business monday through friday. until then find me on social media. follow me on twitter, on facebook, like melissa francis fox. thank you so much for watching. have a great holiday. or what might happen this weekend. next comes "the willis report." gerri: hello everyone, i am gerri willis and this is the willis to work to show where consumers are our business. and another big government program. free college. >> free for everyone who is willing to work for it. gerri: the president says it's free, but guess who is willing to pay for it. we are breaking down this proposal. in a violent day in paris. french police and terrorists clashed in a bloody battle. hostages are killed in the prime suspect in the terror attack are now dead found dead are said kouachi and cherif kouachi. gerri: gas prices less than $2 per gallon in much of the
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country, but now lawmakers even some republicans, want a federal gas tax for the first time in over 20 years. >> if there is ever going to be an opportunity to raise the gas tax, the time when oil prices are so low now is the time to do it. gerri: also the jobs report. unemployment dropped to 6.5 year low grade when will folks start getting a pay raise? we will have answers. and the hot troublespots for 2015. we have your ultimate guide to the best deals and destinations inside the u.s. and beyond. coming up next where consumers are our business. gerri: the president today wrapping up the final day of his national tour. he announced another giveaway of your taxpayer dollars. free community college. getting to the outrage tonight with david he media and
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business professor at george washington university and steve moore at the heritage foundation and the senior vice president of publishing at the princeton review, take you for joining us. the president basically says that if you can maintain a 2.5 gpa at a community college that is if you can do this, you can get two years of free college. i started thinking about this when i heard this this morning. who is going to benefit from this? where does this proposal come from? >> of course community colleges benefit because the supply of students might go up. but there are states across the country that already have this type of incentive, like tennessee, where the president made the announcement today and it's not clear that the students are actually benefiting from lower tuition costs. gerri: i have to tell you that apparently this organization of community colleges pitched this very idea down to the last
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period. it comes sort of from the industry. this is what they want. i am sure that this is really going to appeal to middle america, but come on you are repurchasing someone's suggestion. i am all about the taxpayer dollars this week. the president, he was in detroit and he was saying that the bailout of the auto industry was $80 billion, now we have it back up in the housing industry and now this. , what is this going to cost? >> there is no such thing as a free lunch is the famous saying but there is no such thing as free community college. someone has to pay for it. i am a big fan of community colleges and i think that a lot of them do a fantastic job up are. people for the work force with a lot of needed skills. the idea of making it free -- just doesn't appeal to me at all and here is why. what we have seen in so many instances with all of the student loans and grants and all
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the aid that we provide the colleges, basically what you colleges do when you give them more free aid and scholarship? biggest raise the tuition. gerri: they raise the tuition. >> that is what is going to happen here. gerr absolutely right. we need to put a floor and it will only go up and up. you say, if you earn expert on education, you say that this could be theoretically a good idea. why is that? >> i think the whole idea of making college more accessible, 9 million students could profit from this, it's a great exercise. but as you answered a question about who is going to pay for it, it's a question that students and parents are asking as well. sitting down looking at college costs and we talked about her going up and up trade-in than trade and then we have a little bit of salvation here whether it will pass or not who knows, but it adds to that the discussion and brings it to the table right
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now. gerri: david, is that you? >> i just want to make a quick point that it's never really worked. what has happened is that tuition rises and college hasn't become more affordable to people. by the way, i want to make another point that i think it is an orton for families and students to have some skin in the game. but they will get more out of it than just a free good. gerri: that is where i was going to go next which is if you don't pay for it and you only have to have a 2.5 gpa why would you work hard two even today people that go through and get a four year degree employers are complaining that these people don't know anything and that they are not repaired for the work force. >> if something is for you almost value in it nothing. the average tuition -- and i have seen it in community colleges, it is $10.41 per day for the average tuition to go to a community college. and that is two copies that you
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don't have at starbucks. in order to get education and then gain between 2000 and $4000 per year extra in the work ways. gerri: i think that there are lots of schools in this category that are doing a great job. for example they tailor their curriculums to what employers need and they get kids on track to get a job and make money and it's great stuff. but they have always sort of been a second-class citizen and rob, even you guys are reviewing these schools. so doesn't that dashwood and that further push down the way that they are regarded in society? oh, that's the free school, don't hire him come here into the free school. wouldn't we think about it differently? >> i hope that we do, we have been writing this for many years, except through this channel, thinking about the associates degree, leading it to the bachelor's degree.
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gerri: people are already doing two years at a community college as a way of getting into a four year institution. why do we need the government involved? >> i think that it will provide better access. thinking about the mentally dollars that exist right now telegrams, $5700 maximum pell grants, state aid, tuition tax credits for students and families, there are great things to cover us. gerri: i will contact you get back you on pell grants in a minute. but i want to ask steve how is the president going to pull this off? they're talking about $3000 per year. this is an executive order? do they go to congress? >> i wouldn't put it past them to try to do it with the executive can. because he does everything that way. but i think that he will need congressional approval because this will be a massive expenditure of taxpayer dollars and i think that i don't see a republican congress saying yes, let's give everyone college
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free. i think i've told you this before, my oldest son goes to northwestern, $58,000 per year. and the cost of these universities is the biggest scam in america. the problem is that what i would like president obama to face is start looking under the hood, demanding accountability at these universities see how they are spending the money that is what no one in the ivory towers one. they are terrified of that. gerri: i agree with that. >> quickly this is the fourth time that president obama has pushed some version of free tuition for community colleges, bipartisan congress turned his first four years, this is going to be pretty much dead on arrival. gerri: okay, guys, thank you so much. you guys are all a great complement and thank you for being on the show have a great weekend. of course we want to know what you think. should taxpayers send kids to college for free? should that happen?
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i don't know. log onto and vote on the right-hand side of the screen and i will share the results at the end of the show. and we have the latest out of the city of terrorists, the death toll stands at 17. plus consumers getting a break on gas, but now congress wants to pay for the action and lawmakers including republicans are pushing to raise the federal gas tax. let us know what you think. send me a tweet or send us an e-mail from our website at we will be right back.
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gerri: the average price for a gallon of gas has dropped 6 cents in just a week. great news for drivers, but it has lawmakers including some republicans pushing to raise the federal gas tax.
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guy benson is here with us, political editor of so how many breaks as the american consumer got over the last two years? i only count one and that is the price of gas. and they want to take this away from us. what is your take on it? >> i'm just mystified by this. i have to say herriot low and you are right, this is finally a break, everyone feels that it hits them in the wallet immediately. washington swearing in a brand-new republican congress, people saying maybe we ought to raise taxes because these gas prices have gotten so low that we can get away with it and pay for some spending down the road. i understand policy arguments on both sides, charles krauthammer arguing, saying that the gas tax should be raised a lot higher than what they are proposing here in washington on the hill.
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and then it should be offset elsewhere, they say. but no i cannot have got my head around it. gerri: lets to shame them all, the operative phrase is to leave the door open for the tax increase. that is what james van hoch had to say. saying that i don't think we should take anything off the table at this point. bob corker in tennessee also a republican said that it's time for congress to hike the federal gas tax. mike in wyoming and orrin hatch. what the heck is going on here? tell me, is this the new spirit of benevolence between the party in washington? it seems to be going one way. gerri:. >> there are pretty strong conservatives on all fronts. let me stipulate that i know
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that if we are going to go down the road of comprehensive tax reform which i think we need to do, simplification making it flatter and simpler, i am for that. in order to get democrats to go along with it and to have a prayer of it being signed by president obama, you must leave some things on the table for closing loopholes and that sort of thing and i am for that. but in this case that's not what they are talking about in terms of my understanding. they are talking about needing to raise the gas tax in order to pay for this highway fund and saying that this is a way and a political viable way of doing that avenue. just to make the point what on earth are republicans thinking? this is what week -- record numbers of republicans to push back against the obama and democratic agenda and here we are talking about raising taxes on a bipartisan basis. the democratic proposal. i mean -- i am at a loss. gerri: i am at a loss as well.
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the federal gas tax -- there has been all kinds of talk not just in washington but in some statehouses and legislatures where they say things like what we should really do is index it to inflation. so what a dangerous thought that is. you think that that is a possibility? >> any of these things are possible. the fact that they are talking about it out loud shows that it's a possibility and i think it's a wrongheaded decision. they also talk about how it is sort of a theme we have heard this from some guys, that it's a consumption and not a tax, which means nothing to the average person in america. and let's not forget that the gas tax in particular is a progressive tax and the people who benefit most from the price of gasoline are working class people who have been forking over huge amounts of money to
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fuel up cars and try to tax those people more. it's a bad idea bad politics and policy, all due respect to these gentlemen and to the esteemed charles krauthammer with whom i rarely disagree. gerri: my favorite word of the day is bound to us. we don't hear a lot. have a great weekend. >> you as well. gerri: not only the price of gas, but heating costs are lower, giving consumers relief as the temperatures plunge. and how the ladies and gentlemen of fox business and fox news are keeping warm. i showed you last night but take a quick look at some more. >> i can't wear a snowmobile suit in new york city. so this is what i call my snowmobile suit. >> i love it. take a look at this. [laughter] >> that's all she's got. >> i love this.
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>> it's necessary. >> do yourself a favor get dressed indoors, then you can go out into the vortex after you get comfy. >> staying fully dressed until i have to go on air. i have two sweatshirts on underneath pants and thermal socks. i'm not taking the gloves off until i have to be on neil cavuto -- i'm going to give myself 30 seconds to change in two minutes to run down there and this is staying on. gerri: if you want to see more of how the men and women of fox are bundling up in this ridiculous weather, go to and my twitter page at gerri willis fbn. we have it all they are also on facebook. check it out. later in the show the later on
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the terror rampage gripping paris today. new concerns about u.s. security and more than a quarter million jobs were added in december but wages went down. when will we be getting that ♪ no
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more pencils ♪ ♪ no more books ♪ both: ♪ no more teachers' dirty looks ♪ ♪ school's out for summer ♪ ♪ school's out forever ♪ ♪ school's out with fever ♪ ♪ school's out completely ♪ [school bell rings] man: what this place needed was better graduation rates, so we worked with schools like henry ford high and now they're up 18% and it can happen in every place. kids: oh... ♪ school's out for summer ♪
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man: to help us do more good this year, go to because great things happen when we live united. ah, got it. these wifi hotspots we get with our xfinity internet service are all over the place.
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hey you can stop looking. i found one. see? what do you think a wifi hotspot smells like? i'm thinking roast beef. want to get lunch? get the fastest wifi hotspots and more coverage on the go than any other provider. xfinity, the future of awesome. gerri: new employment numbers out today showing 252,000 jobs added in december, employers are hiring some people but the downside is that wages are going down. with more on this we have greg with us. tell me what you make of the jobs report, this is covering what happen last month. >> we cannot complain about the job growth. as you noted over 250,000 new jobs added in december leading
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the way once again one of the higher-paying categories. adding a higher paying jobs and also a nice upward adjustment for november and october. so that is the good news. gerri: i'm going to pick a nit with you. those numbers were bumped up 353,000, december doesn't hold a candle to that and worse than that the wages are down. that is what is surprising to me and i will tell you because in november we got an increase in wages. what is your view of what is going on out there? at first glance wall street was thrilled with these numbers. they saw the jobless rate and then they peeled back the pages and got a closer look and i think that they thought it was worse than i thought. >> the reason it went down in december has a lot to do with there are a lot of temporary jobs in the holiday season. many of which jobs tend to be
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entry-level or low-paying jobs. when you look at a year-over-year basis which gives us good reason as to what is happening, the results they are are pretty troubling because the average wages are up just 1.7%. in the last 12 months. that is why the american consumer is in spending. gerri: you have got great numbers on this from your own survey and what you say is that americans are just one paycheck away from living on the street. what did you find out? >> you and i talked about it on the show many times before that savings is a sore spot for americans in terms of their financial security and comfort level, things like stagnant income have kept people from moving the needle. what we find is that people don't have enough emergency savings to cover six months or even three months of expenses.
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what we are finding is troubling numbers of americans don't have enough to cover an unplanned expense where there is a thousand dollar emergency visit, car repairs they are living close to the edge. gerri: we had an economist who said one in six men of working age are not working. think about that. that is a large proportion of men sitting on the couch waiting for a handout from somebody. not gainfully employed. so i think you know intellectually what that does to people if they are not engaged in doing something all the time. >> absolutely. from an economic standpoint we are missing out on opportunity. when we look at the reason we get a slow growth economy with economic recovery, that is part of it. those that are not participating in the labor force were drawing a paycheck, they are also
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inhibiting in terms of spending power as well. and it's a vicious circle in some ways good in other ways bad. gerri: you bring that up labor force participation rate and we have been watching that her at fox business and it is down right proportions of americans working in the work force and working, declining by two tenths of a percent. we have to go back 40 years to find numbers that are similar to that. millennial they have the last word on everything. here's what they said. they were asked if you don't get a raise, what are you going to do. they say they are going to quit. 35% said that they will look for a new job if they don't get a raise next year. do you think that they will be successful? >> when you see the type of job growth numbers, there are plenty of opportunities out there for them. gerri: thank you for coming on the show and it's good to see you. >> thank you. gerri: coming up some of the best advice of "the willis report" has to offer and french
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police have hopefully put an end to a three-day terror rampage at and we have the latest coming up@ñ
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>> gerri: did a moment to roundup of the best advice now some of the big stories authorities in france bringing to an end as a hostage standoff killing three terrorists including the two brothers suspected in the wednesday magazine attack. they came out of their hold up with guns blazing and were killed in a shootout. a hostage was freed is safely then another terrorist was killed in a grocer's store in paris along with for hostages. there is a least one terrorist still on the run tonight. we will have more on this in a moment to including concern over u.s. security. the house overwhelmingly passing a bill authorizing the keystone pipeline
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despite a veto threat from the white house and there will be a vote on monday. all lawsuit has started trying to block the project. 115 vehicles were involved. to semi trucks carrying fireworks were involved in the pilot. police say the bad weather was a major factor. and taking another crack to deliver supplies to the space station spacex will blastoff at cape canaveral. those are some of the top stories tonight. three terrorists killed today by french police ended to hostage situations in and around paris.
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hawk to were involved in the massacre at the newspaper office and we have the very latest. >> at this hour officials are reviewing a claim of responsibility from the al qaeda affiliate in yemen as well as a four minute videotape they have released in arabic. well there is no independent confirmation that al qaeda in yemen was responsible throughout the day there was increasing data that points to that conclusion. one of the brothers, the younger brother 32 years old was on the outskirts of paris that be industrial plant in a phone call to a tv station said i was sent by al qaeda in yemen and was financed by the american cleric that is in charge of
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the operations up through his death in a cia drone strike in 2011. also the other brother traveled to yemen in 2011 and went to one of the training camps. we also understand he met with al qaeda leadership at that time would have included al-awlaki. that is a lot of data showing involvement with the al qaeda affiliate. gerri: i have to think the people of france must me on edge. are there more fears of violence to come? >>, excellent question we have confirmed over the last two hours at home and security as well as the fbi had sent out a joint intelligence bulletin that
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describes the massacre as a well-planned commando style attack and a departure from the style we have seen here in north america. specifically the attack in canada were the low levels of radicalized and with the two of the unknown and then an attack closer to home where you are you to attach it to attack those rookie cops in new york city. this is the departure for a homeland security and the fbi and they also speak to the likelihood of that it was directed by al qaeda and yemen. gerri: thank you for that great reporting kathryn. you may have missed some of "the willis report" this week can you missed some great device on monday a warning about the market's and investing tips for when
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the fed finally does raise interest rates. >> i think we definitely could get a correction of 10% or more. we have gone 40 months since the last one is usually the spread is between 18 months. when we have that correction they will not raise rates at that time. gerri: what to do with the interest rates because the markets could do it themselves. >> first stocks will do well because the reason romney rates are going up is economic growth is improving. we will have strong earnings growth and as interest rates rise investors will say i don't want to be in bonds but gravitate to the area where there will benefit. gerri: what stocks to look at? >> look at technology because they have relatively though dividend commitments
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so they are not adversely affected to pay higher rates on those debts. also industrials could start to improve because if the economy kick since then they will do well also. gerri: what about protecting information? earlier this week i met in late now her mother's computer was packed and all data held hostage unless she paid $1,000. >> it's a form of fibrous called ransomware that you clicked on an attachment or it is working on your computer that is gathering informations that you don't know is there and it could affect your computer that way. with this variant of 2.owe
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is nearly impossible to crack of less you have your files backed up you can swap the now that is the best bet gerri: it is unjust packers but potential employers as many as 80% check your background including your credit. how can you look your best? >> we estimate 40 percent of the time that an employer checks somebody's facebook they don't hire the candidate based on what they found. here is what you can do. do your own background check on yourself. to a credit check for the afternoon with that employer will find out. gerri: cold weather has as coughing or sniffling is it a cold or just a fluke? we have the answer. >> of call will last between
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three and 10 days. sniffles is low-grade fever may be 100 degrees but you don't have a high fever are severe headache then you think flew. i'm saying 102 or 103-degree fever but the muscle aches and headaches are the bad stuff. you may start vomiting and have diarrhea. if you have the flu try to stay away from the emergency room although if you need to go, tell the nurse that i think i have the floozy don't give it to everybody else. people giveaway but if you are a doctor does it show you have a taipei you could take him of a with in the first 48 hours to change the
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course of the disease. >> you want more advice go to to check out what was on the air all week. with those top travel destinations in the $975 million divorce and that is not enough? both sides of the oil tycoon divorce. here are the numbers that mean the most to you. ♪ ú
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gerri: you have probably seen this the ex-wife of the oil tycoon had denied it is $75 million change of heart for earlier this week his
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ex-wife turned down the attack what he owed based on an november ruling. let's just back off. what are the facts? >> barry 26 kids with two kids she was involved in the of business so she is entitled to the many there was no production will. but $1 billion? i actually saw the check, vichy checked it. actually had to write this down when you cash to check that means you are satisfied with the judgment it is over. be happy. gerri: here is nearly $1 billion had you cash that? can i have that in one's? [laughter]
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>> apparently there were a number of errors based on tens of millions of dollars to get to this point and whether his net worth if it is only in half and she gets less than 10% being there all those years? she is a lawyer. >> of bird in the hand as they say but it could be a lot worse. >> look at it this way but what she wanted to find of a great big charity? [laughter] >> oklahoma law says they are not to the appreciation only two active efforts of the she was an attorney or an executive to contribute to that growth she gets less
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than 10% it is a deal for him. >> she did raise the kids. >> but i am such a of a plain girl but understand if you get a check for almost $1 billion you have got that. and you are going to be upset by that? go out and be happy. >> with the ranch house worth 50 billion? >> they look like a nice couple. that is just the way i feel but it brings up the question should they have had a prenuptial? >> this is over 26 or 28 years ago. you did not think about that
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>> absolutely they were married in 1988 that is the sole major. [laughter] but this one on for almost three years. >> especially the first marriage to our brand new they go at it together you don't think of a prenuptial like that. >> show that check again. [laughter] >> i will go cash that. then i will be in the bahamas later. gerri: great to have both of you on. the president appears in tennessee today he wants to provide comic get this stuff every community college for two years who have just the 2.5 gpa but should we pay for other people's kids to go to college?
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one viewer says absolutely not no one appreciates they don't have to pay for. and most community colleges have to do the work and another failed the stage that will cost taxpayers money you can not empowered to procurers -- our entreprenuers. be sure to like fox business on facebook. day any destination it is? ♪
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gerri: had you got it in by the travel bug we are touring the globe for the hottest destinations this is a great web site you definitely want do check out. to have the domestic and international list we will start with domestic because it starts with north carolina. >> a wonderful city natural beauty there by with the biltmore estate now you have the fiber artist district. it is such a culture of the rich city the most per-capita in the united states. >> i thought i was in brooklyn when i was there.
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>> they are so cool. >> but you have another destination? >> we have the top 50 destinations one is a national park in new mexico and this was the most developed civilization, a native american civilization in the world through the mid-1800s these are the tallest buildings in north america. is on the list because we are worried there is fracking going on nearby. visit now. gerri: any others? >> washington d.c. with the 150th anniversary of the end of the civil war also south dakota because there will be the 50th anniversary of the buffalo roundup. the largest round up in north america.
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it is amazing and the 75th anniversary of the sturgis motorcycle rally which means 1 million bikers that is more than there are people in south dakota. gerri: let's talk international if you leave the country where should you go? >> europe is here because the dollar is so strong you will not break the bank especially belgium. fabulous chocolate and the european capital of culture with incredible performances and exhibitions including for the 125th anniversary so the giants a park near -- in one place also the 200th anniversary of the battle of waterloo with a lots of reactors dressing up and the 100th anniversary
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of the great war. of lots of historical things >> is there another location? >> believes is fascinating just like custer rica. it has the supply and water sports but of mike costa rica belize has a great mayan site where ancient scrolls were leftover from human sacrifice our calcified to the floor. it is an amazing place to go also cuba will be good ones regulations allow us to go. that has happened legally. >> but i lot of people do. >> they could do a people to people program but you still need a special license but we think that will change
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very soon. gerri: thanks for coming on the show. if you are headed out on a vacation don't forget yourself the stack -- selfie stick for your self portraits there just hurting to gain popularity in the u.s. but there their rage overseas solicits they have been banned with the dollar -- a price range between $5 and $50 every will show you what this looks like. the crew will help us out. this is above the beyond my range of technical, are you there? i can see you. you need to get closer. live picture of the tv.
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that was good. i will show you after the break. we will be right back. you pay your auto insurance premium every month on the dot. you're like the poster child for paying on time. and then one day you tap the bumper of a station wagon. no big deal... until your insurance company jacks up your rates. you freak out. what good is having insurance if you get punished for using it? hey insurance companies, news flash. nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. see car insurance in a whole new light. liberty mutual insurance.
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gerri: before the break we took a picture went eight paris deck. take a look at the picture. here is what we learn. i cannot take a picture. there is no picture that i can take because i cut everyone's head up area and sorry about that. president obama making community college free for all americans but not saying how it will be paid for. should taxpayers sent sent send kids to college for free? a present said no, 92% said no. and that is ever tonight "willis report."
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stay with us because making money with charles payne is coming up next. have a great night and a very great weekend. ♪ ducks. >> welcome, everybody. i'm neil. wicked cold and wicked terrorists. tonight, a look at what happens it ended in france. it's warming up here. there's not much new under the sun when it comes to terrorist scenarios. this is something, this attack in paris the design of this attack and sort of the extent of it. this is something we're talking about uright after 911. it was a big fear in people in the counterterrorism business. this sort of attack involving a handful


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