Neil Cavuto was joined by Gregg Hymowitz, founder of Entrust Capital; Jim Rogers, president of JimRogers.com; Ben Stein, economist; Meredith Whitney, FOX Business News Contributor; Lewis Black, actor/comedian; John Talbott, author of The Coming Crash in the Housing Market.
More Money and Troops to Iraq?
Neil Cavuto: Should America commit even more money and resources to Iraq (search) to win the peace there and help our economy and market here? Gregg how bad would it be for America and our markets if we just cut and run from Iraq?
Gregg Hymowitz: I think it would be awful for America if we left, not so much for the market. I think the market is focused on earnings. We need to commit more money and possibly more troops, but under a multinational umbrella. If we left now, we'd leave as big losers.
Jim Rogers: But if we leave later we'll be even bigger losers. Or we'll be bogged down and be there forever. They say they're spending $4 billion a month but it's probably much more than that. It's time to come home and let Iraq take care of itself.
Gregg Hymowitz: The problem is that we haven't won the battle and we should've never declared that the war was over. The battle is still going on. We're losing lives there every single day.
Lewis Black: The next time we have a war we should have the discussion that we're having now, before the war. This is the first war in my lifetime where we're discussing now what we should've been discussing before the war.
Ben Stein: It's an absolute nightmare over there but these bombs are being made by a few people. I don't think it's any indication of a prolonged insurgency there. But if we pulled out and let the Baathist or al Qaeda take over it would be a foreign policy catastrophe.
Neil Cavuto: I was talking to some World War II veterans not too long ago who reminded me that U.S. soldiers were getting picked off for years when we were rebuilding Germany and Japan. Is our history and our sense of vision so short-sighted that we forget that we have been here and done this?
Gregg Hymowitz: I think the problem is there doesn't seem to be a coherent strategy.
Neil Cavuto: People were saying that about Japan and Germany after World War II.
Gregg Hymowitz: Iraq is now a hotbed for Islamic fundamentalists and terrorists. As they see more Americans on their own land, that could ferment more terrorism. And that could ultimately effect the U.S. economy.
Jim Rogers: In 2002, a survey showed that America was the most popular country among young Muslims around the world. Now we're the most hated.
Ben Stein: Jim, with all due respect, some Muslims were dancing in the streets and burning the American flag right after 9-11.
Lewis Black: Right after 9-11, we had the whole world behind us, but now we've blown our credibility with just about everyone on this planet.
Ben Stein: I disagree. We got rid of a genocidal regime. And every time I see a story where they've dug up the graves of children buried alive with their toys in their hands, I am extremely proud to be part of a country that stopped that.
More for Your Money
Neil Cavuto: Is a vote for Arnold a vote to get more for your money? Schwarzenegger is on top of the latest poll, but it seems someone is doing a different poll every few days with very different results. That said, Meredith, is a vote for Arnold a vote for stocks?
Meredith Whitney: I think it's great in terms of what he's focused on, granted he hasn't had so much of strategy or policy so far. But it's cost cuts and revenue stimulus, which is what every company is working on right now.
Gregg Hymowitz: It's a bad thing when he says one thing, and then his other statements contradict what he just said. Half of California's budget is education and medical costs. He says he isn't going to touch education and he can't do much with the medical costs, so basically the more he talks the more it seems he's going to lose. If I was his campaign manager, I would say don't say an absolute thing. His poll numbers are basically an anti-Davis vote.