DISCLAIMER: THE FOLLOWING "Cost of Freedom Recap" CONTAINS STRONG OPINIONS WHICH ARE NOT A REFLECTION OF THE OPINIONS OF FOX NEWS AND SHOULD NOT BE RELIED UPON AS INVESTMENT ADVICE WHEN MAKING PERSONAL INVESTMENT DECISIONS. IT IS FOX NEWS' POLICY THAT CONTRIBUTORS DISCLOSE POSITIONS THEY HOLD IN STOCKS THEY DISCUSS, THOUGH POSITIONS MAY CHANGE. READERS OF "Cost of Freedom Recap" MUST TAKE RESPONSIBILITY FOR THEIR OWN INVESTMENT DECISIONS.
Bulls & Bears | Cavuto on Business | Forbes on Fox | Cashin' In
Bulls & Bears
On Saturday December 19, Brenda Buttner was joined by Gary B. Smith, Tobin Smith, Bob Froehlich, Eric Bolling and Mike Papantonio.
57 Percent of Americans Don't Want Health Care Reform: Why Are Dems Still Pushing It?
Tobin Smith, ChangeWave Research : Thank God the American people have it right and they can do the math. If you called something 'reform' that would result in 14 tax increases and 106 new bureaucracies, you'd be someone that thinks Tiger Woods was framed. We would love to be able to afford something like this, but what they're trying to do is simply not the right way to reform.
Mike Papantonio, Radio Talk Show Host: Toby sounds like he's working for the insurance companies. They have to do something because the cost of doing nothing is a disaster. The good thing is that they build an infrastructure that will not allow the insurance companies to charge us to death, to deny anyone coverage, or to kill us by their exclusions. The cost of doing nothing means we will lose our sense of humanity. That doesn't bother Wall Street, but it should bother most people.
Gary B. Smith, TheChartman.com: Apparently the Democrats don't want a good bill because they're rushing this through. Mike seems to be overlooking the facts, which are that Americans don't want this and neither does half of Congress because they see the problems with this. By definition, it's going to be a government program. Mike, you'd have a hard time coming up with a government program that proved more efficient than one in the private sector or came in anywhere near budget.
Bob Froehlich, The Hartford: Americans are so skeptical because we don't need health care reform. We have to step back for a minute and realize that we have the best health care system in the world. You may not believe that, Mike, but every political leader in the world comes here when they need health care. If you want to reform something, let's implement tort reform and fix the problems with medical malpractice.
Eric Bolling, Fox Business Network: The small businesses are going to be affected most by this because they're going to have to lay off some of their employees. If you want to see the unemployment rate go from 10 percent to 15 percent, then pass health care reform. This is going to cost so much money that there's no way we're going to be able to pay for it either.
U.S. to Join $100 Billion Climate Aid Fund Despite 'Climate-Gate'
Eric Bolling: Whatever it costs, it's one penny too much. Three things: 1) Right after World War II, CO2 surged and we had 40 years of cooling temperatures; 2) Brazil, China, and India emit 97 percent of the increase of CO2 in the world, whereas the U.S. is actually dropping its level. 3) We're broke! We're $12 trillion in debt and don't need to be spending any amount of money on this every year.
Mike Papantonio: We have the Financial Services Alliance that says that if we don't do anything, by 2050 we will have spent $28 trillion on climate change problems. These people aren't tree huggers, they're Wall Street types. They're saying climate change is real and that if we don't do anything about it, it's going to be a disaster.
Tobin Smith: A lot of this money would be coming from U.S. corporations who would buy trees in the Amazon as carbon offsets. My question is: at $100 billion a year, that's 2 million jobs, so is the President saying that trees are more important than jobs? That's what I'm hearing.
Gary B. Smith: I'd even go along with Mike's free-spending ways if there was any evidence that this would work. But we do have evidence: for the past ten years or so, European countries have followed the Kyoto Protocol and have spent roughly $70 to $170 billion—and their emissions went up during that time. During that same period, we spent nothing and our emissions went down.
Bob Froehlich: We all know the Earth is flat. I like how Mike thinks that Wall Street knows what it's talking about with climate change but not when it comes to health care reform. You can't have both sides of the coin. We don't have the money to spend on climate change and we're going to lose jobs if we have new emissions standards.
Are Unions 'Scrooging' Walmart & Unemployed?
Gary B. Smith: Let's say I wanted to work on Mike's radio show and we agree that he'll pay me $5 an hour. But in Mike's world, he would like an outside party to come to him and say that he needs to pay me $15 an hour. What happens then is that Mike decides he doesn't need me if I'm going to cost him that much money and I get laid off. That's the situation we have and it's keeping the Walmarts of the world from employing people that don't have jobs.
Mike Papantonio: Gary, I wouldn't hire you for any amount, whether it's $5 or $15 an hour. If you were working for minimum wage and trying to support five children, you have bills to pay in order to take care of them. Those jobs are great for teenagers who are saving up for a car or the coolest new video, but they're not the kind of wages that we should pay people who are trying to support a family.
Bob Froehlich: We don't need a third party telling someone what to do. Think about where we are in this country. There comes a point in time when everyone needs to put their personal interests aside and do what's right for the country. Right now, the most important problem we have is with the job market. Unions need to put aside their own interests and let us get the country back to working again.