• With: Gary Kaltbaum, Charles Payne, Dagen McDowell, Charlie Gasparino, Julian Epstein

    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.

    Group of Democrats: Bar debt CMSN questions from debates

    GARY KALTBAUM: I get a sense that democrats realize that they lost the midterm election in a big way just because of this issue. If the deficits and the spending get front and center there could be heck to pay on the Democratic side. The numbers are out of hand and obviously in the midterms there are a lot of people that cared about what we are saying, and it's not just about what's happened but the deficits are going to grow crazily as far as the eyes can see going forward. This needs to get front and center and the Republicans should not allow them to put it off.

    CHARLES PAYNE: Absolutely, you're being too charitable come on Neil. This is a giant you talk about the elephant in the room. Really, the elephant in the room, and here's the thing Washington has a yellow streak. How many people in Washington on either side of the aisle have really come up with any sort of a plan on this thing? It was a great starting point. You don't have to agree with it, it's a launching pad it's a starting point for two parties that have been so afraid there are only a handful of people that have had the guts to stand up and say we've got to do more than just talk about this.

    DAGEN MCDOWELL: Absolutely, I think it's safe to say, "Hey Simpson-Bowles plan and Mr. President your commission put together by your budget, your former budget director Peter Orzac name one thing in there that you like, that you would get behind and they don't want, the Democrats don't want to do it because it was his commission, he did not act on it and it did not have in it what the democrats really wanted and that was a value added tax to raise revenue.

    CHARLIE GASPARINO: Mitt Romney's running mate who is obviously not running for President, but is running for Vice President did not. I think what you say, who in Washington...

    JULIAN EPSTEIN: Well, I mean I think your setting up a false argument here. One or two democrats have suggested this. I think most democrats would want to have this debate. Why is that? Because Simpson-Bowles commission came up with a plan to cut four trillion in the deficit through a combination of spending cuts, entitlement reform and tax reform. President Obama didn't support all of it, but he supported a lot of it. He publicly indicated that he supported much of it. In fact, during the debt ceiling negotiation last August, August of 2011 the Simpson-Bowles report was the basis for where the President was in the discussions with John Boehner, and he's publicly embraced much of this. Now, contrast that with Paul Ryan who voted against it, and whose plan does not balance the budget, he even concedes his plan when he balances the budget.

    Former Gov. Wilder blasts VP Biden over "Y'All" remarks

    CHARLES PAYNE: Out of control and something needs to be done.

    CHARLIE GASPARINO: I will say this. What he said was absurd, despicable but you know if you're the CEO Neil you have to ask is if what he's doing effective and I think it is effective. This is a base election you have to get out the base; you have to get your people to the polls. African Americans are a big part of the base and I didn't see those people booing him at that. This may be an effective way.

    DAGEN MCDOWELL: I was going to say that was a loud boo from Governor Doug Wilder. The former leader of my state spoke at my College commencement address of all things.

    JULIAN EPSTEIN: I don't know if I'd fire him. Look, I think it was an unfortunate use of language but I think the President's adversaries are trying to make a tempest in a teapot here. Look, it was a metaphor it wasn't meant to be taken literally.

    GARY KALTBAUM: Well, what it does is it gets him off message. That's the bigger problem here. Look, Biden some of the things he says he's a dufus, but this is not just the CEO.

    More auto bailout losses fueling taxpayer outrage

    GARY KALTBAUM: Neil, it's not just the twenty five billion cause according to them that's only eight days of our debt, but if you think about it this IPO that they came out with in November 2010 is down thirty-five percent since that day while the market's up twenty percent which a fifty-five percent difference so the shareholders also got screwed on top of that the bond holders got screwed when they did the deal so everybody's screwed all the way around.

    CHARLES PAYNE: I agree a thousand percent. The unfunded liability is huge because they're losing market share that's what we should also be afraid of. They're losing market share in this country.

    DAGEN MCDOWELL: Sell it, take the loss and get out. At least the government won't be owning it.

    CHARLIE GASPARINO: Bailouts never work. Listen, Wall Street was able to pay back that money with interest they brag about. You know why, because the fed kept interest rates at zero they rigged the game.

    JULIAN EPSTEIN: Well, the Treasury Department says we'll make money the taxpayers will make money on the tarp bailout. We'll make some money on the auto bailout not all of it. We'll lose maybe about twenty-five percent. If we let the auto industry go under we could've lost a million jobs an entire industry could've collapsed. Managed bankruptcy would've never worked. It just couldn't have happened quickly enough.

    Low-risk, high-reward stocks

    CHARLES PAYNE: Under Armour (UA)

    GARY KALTBAUM: Union Pacific (UNP)