• With: Eric Bolling, Regina Calcaterra, Gary B. Smith, Tobin Smith, Stephane Fitch

    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.

     

    WISCONSIN'S UNON FIGHT FUELING CALL TO WORKERS ON SICKOUT

    Eric Bolling: Do what Reagan did. Here is what's happening, right now the teachers when they walk out they're breaking the law. Give them a chance to go back to work. If they continue to break the law, fire them all. Pull their benefits, pensions and health care, and see all the students there, see how they like it when they're in summer school.

    Regina Calcaterra: First two things, I strongly believe that Governor Walker brought this on himself by trying to get this bill and shove it in and not bring unions to the table to try to negotiate. A budget process is challenging for every single state. Even on the national level, but you have to sit down and try to get labor concessions that way, and not trying to pull a bill in takes away the right of unions and he left the unions, only one thing to do. They will have no more rights and will be protesting. They have a right to protest and right to freedom of assembly and what they're doing does not rise to the level of what the air traffic controllers did in 1981, there were13,000 air traffic controllers went on strike in 1981 and put the nation at peril and these teachers and public sector workers aren't putting us at peril.

    Gary B. Smith: I think they should be fired at this point. Look, you have a governor here who is just trying to make them stay home and is he doing it, he's not really punishing these workers, he's just trying to get them back to what the private sector is doing as far as, you know, paying in for health care and stuff like that. Here is an important fact. And not that everyone gets out the violin, and oh my gosh the poor school teachers, we need to do everything we can. You know the average teacher compensation in Milwaukee is $100,000.

    Tobin Smith: Well, in the private sector, we have to apply the same rules for everybody. We came out with the idea that if the economics don't work in the state we'll borrow money. If this was a real business, a real company, we would have to have the cost equal the benefit. Either capacity would have to go up or the business would fail. We're in a failing business here. To say that this is illegal is to say who has the right. All the teachers, no, the taxpayers in Wisconsin they have the right to do this and if you did fire them. There'd be about 15,000 people on the way to Wisconsin right now for a job, for a hundred grand.

    Stephane Fitch: Toby makes a great point but you have all types of problems here, this is not a single work force and teachers, little old ladies that work in DMV and the guys who mop the floors in congress or whatever. Listen, this is a vast, vast work force. You can't just go and fire them all. I agree, I've written passionately about the problems that Wisconsin and other states are facing, but firing them all is not going to solve anything. You've got to negotiate and you just run into all kinds of practical problems here.

    GOP AND PRESIDENT ON TACKLING ENTITLEMENTS IN NEW BUDGET

    Gary B. Smith: I'm going to give you facts right now and you tell me if Obama is even listening to the public. You know, about a year ago, he proposed a budget, total spending for 2012 of $3.76 Trillion. That would be a year ago. His new budget $3.73 Trillion. He has a budget he has increased since 2008, 25 percent and here is the worst part. Last year, his budget then showed a public debt rising to 77 percent of GDP by 2020. You know what it is now with the new budget, 77 percent. He says he's going to cut spending around. As you can see by the numbers, whether its entitlements or not he's not really cutting anything. Someone is going to have to cap the entitlements and he doesn't want to lead, it's all political.

    Regina Calcaterra: What the Republicans have been doing the past few days is making fools of themselves, especially the House Republicans holding press conferences saying that the president has punted on entitlement cuts. The reality is that the GOP could take up this as well and put up a plan to cut entitlements, but they don't want to do it, they're pushing the can down the road and both sides are playing a game of chicken and I'll tell you why. The Republicans won the house because 75 million people who turned out to vote in November, 23 percent of them from senior citizens and that's the highest senior citizen voter turnout. They're afraid to put anything that's going to hurt senior citizens.

    Tobin Smith: First off, the Republicans are just as guilty as the Democrats. In real life, if you were facing 60 percent of spending, which is what is supposed to come just in entitlements, and we're already actually this year, bringing in less money than we're paying out in social security and that was not suppose today happen until 2018, 2020, so the crisis is here and nowhere kicking the can is here and we've kicked it and both of these knuckleheads have got to get the message with the bond market one day, when our bonds go up like 2 percent in one day, going to be too late.

    Stephane Fitch: A punt on both their halves. Yes, it is. But you know what; I think it's also a bit of a dance. These politicians are smart and they're smart enough to know that whoever says something first is going to get slammed by the scream machine that we're all part of.

    Eric Bolling: The deficit keeps growing, $14.12 trillion and another 1.6 this year, another 1.1 for next year, you have to, you have no choice. You have to go after Medicare, Medicaid, cut them, raise the social security retirement age from 65 to 68 or game over; we'll continue to run deficits. By the way, the 3.6 percent growth rate going forward, if you don't get that it's going to be $2 trillion dollars added to debt.

    DEVELOPING: VOLT RANKED DEAD LAST; NEW CALLS TO PULL PLUG ON 'GREEN' SPENDING

    Tobin Smith: Pull it for crying out loud. You cannot call it something that is not working and this thing is $41,000 minus the other stuff, you know, the credits, etcetera, it's like trying to say, eat your castor oil, I know it's better for you to market and the market has great cars and nobody has forced them to buy.

    Stephane Fitch: Hey, look, it's good technology it's one of only two Americans cars on the list, which I think is fabulous and we should be investing in this stuff now, rather than waiting until gasoline gets to be $10 or $12 a gallon. Talk about investing in the future. I like the Volt. It's part of that.

    Gary B. Smith: It proves once again that the United States government is good at investing in companies and industries that lose billions like Amtrak, but I tell you what, there are two buyers for the car, GE for about 20,000 and Tom Hanks will buy the other one and that's about it, a collector or a fan might buy one.

    Regina Calcaterra: Well, I'd like a lot more money to Amtrak, but besides that putting money into the Volt is one of two cars on the list that are American made cars and not where I would recommend us putting our money, but I'm glad we're investing in clean energy. For example, worldwide there's $162 billion dollars invested in clean energy technology in 2009. That's what the emerging market is going to be.

    Eric Bolling: GM is a total joke, they will never pay back the $26.4 billion they still owe us, the taxpayers, with a $41,000 electric car, and I got cut off by my first Volt in Manhattan yesterday.

    PREDICTIONS

    Tobin Smith: Aetna (AET)

    Gary B. Smith: Exxon Mobil (XOM)

    Stephane Fitch: General Electric (GE)

    Eric Bolling: Philips-Van Heusen (PVH)