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.
SUPER COMMITTEE SCRAMBLING TO FORGE A DEAL AS TIME TICKS AWAY
Gary B. Smith: I mostly agree with Steve. I would add a zero behind his number. The fact is, we're talking about $1.2 or $1.3 trillion in cuts. Wow! That sounds so great-until you realize that it's spread over 10 years, the federal budget still rises each and every year despite that, defense spending will still go up and we have a $15 trillion deficit. This is nothing. Whether they do something or they do nothing, you will see absolutely no change. We have to go big in the parlance of government and that's why I say put a zero behind the $4 trillion and make it $40 trillion cut.
Jonas Max Ferris: Some cuts are better than no cuts. I actually like severe, serious cuts, which is the penalty for no action and they would kick in later as would the tax increases if there was no action. That's actually good because the economy is not so great right now and it can't handle tax increases or major spending cuts, which is what the super committee is supposed to be doing if they get together and agree. So, this could work as long as they don't put off those cuts when those come down the pike in a couple of years.
Scott Martin: Maybe Mr. Miracle Grow is just upset because half of the country is going to go into winter right now and not use his product for the next six months. I contest this issue with some of the businesses complaining about Washington fooling around. I'm not so sure that this deadlock in Washington is keeping people from hiring. The economy is actually starting to recover a bit. We have 2.5 percent GDP in the third quarter. The fourth quarter looks a little stronger. We're still hiring workers. Blaming Washington for a slowdown in the business committee seems like pointing fingers.
Tom Belesis: These cuts that are about to take place in 18 months are a bunch of BS. It's a bunch of crap. You have to make these cuts now. They have to stop messing around. They have to put an end to the uncertainty on America's economic future and the job creators right now. They have to make the cuts. No one is going to be happy, but it's their job and responsibility, for the future of this country, to make the tough decision even if they're not the right ones.
Steve Murphy: I am worried about them failing. We need to have the big deal-the four trillion dollar deal. Half of these cuts are completely illusory. The 15 percent defense cut is not going to go into effect. Congress will quickly reverse that and may well reverse some of the other cuts. We need a big deal. I don't think the automatic cuts are automatic at all.
CHRISTIE CALLS TO PAY SCIENCE TEACHERS MORE THAN GYM TEACHERS
Gary B. Smith: This absolutely makes sense. What Governor Christie is really talking about is letting the free market work. Right now, we have a union protecting these teachers so they're all basically paid by seniority. An entry level gym teacher is probably making the same as an entry level chemistry teacher. Governor Christie is saying if the parents were allowed to decide, the science and math teachers would get paid more than the gym teachers. That's the whole point of the free market. Some skills are worth more than other skills. I think he's saying let that work. But, of course with the unions, the free market doesn't exist.
Jonas Max Ferris: You say the free market-college football coaches make a lot more money than the biology teachers do, so who's adding more value? There are more athletes who make money than biologists. Not to mention that we have an obesity problem in this country that causes more of a problem than the lack of biologists. If you just pay the science high school teachers more, is that going to make kids go towards science? There are plenty of science professors in college, but no one goes towards those majors. I don't think this is a solution to the problem anyway. We don't have enough kids going into those study areas.
Scott Martin: Does anyone else find it ironic that one of the heavier governors in the country doesn't like gym class? What happened in rope climb back in eighth grade? There's a big toll that overweight and obese kids take on this country in the health care system. If you look at physical education class it has a health component to it and a diet component in some cases. It actually teaches these kids how to take care of themselves when the parents don't.
Tom Belesis: Everyone knows there's a problem with the lack of concentration in Math and Science. The unions need to butt out. He's not putting down gym teachers. All he is saying is that if math and science teachers do more they should get paid more. There's nothing wrong with that.
Steve Murphy: Is a science teacher more important than an English teacher? Which one does the parent like there? Nobody knows any history anymore. Over half of our high school graduates cannot pass a physical to get into the military. That's how unhealthy our kids are. We have one of the worst levels of good science education of any OECD country. They're both failing. I don't think either one of them should be making as much as say, an English teacher where at least our kids can speak English.
MORE STORES OPENING THEIR DOORS ON THANKSGIVING FOR 'BLACK THURSDAY'
Gary B. Smith: Whether this works or not is not the point. If it doesn't work the Walmarts and Gaps of the world will then not do it next year. Is it unfair to the
employees? We have 9 percent unemployment. A lot of these workers come in hourly are probably getting double time. They are probably happy to come in. You're not going to see much disgruntlement, especially from the shoppers out there. Do you think people are going to say, ‘those poor workers'? They are going to be mobbing the stores as soon as they open at 10:00 Thursday night.
Jonas Max Ferris: It's not just the workers they will annoy. I think they'll annoy the customers. I don't think this is the greatest year for this. First of all, you have a lot of attention right now going to stagnant wages and the 99 percent in the media. To then say that these people, who are basically working class people, are going to have to work on a holiday because we want to have super sales to compete with online retailers, I think it leaves a bad taste in the mouth of the consumer, as well as the worker who has to do that. I don't think it's going to work. You keep moving up the holiday to get more sales. Eventually, it's a zero sum and you're going to run out of sales anyway and you'll have more hours that might cost them more money.
Scott Martin: The workers were disgruntled last year. Can they get any more disgruntled this year? If the workers don't like it then you can quit and give the job to somebody else who wants it and join the other millions of Americans who live off the government.
Tom Belesis: These are the same critics that years ago said the same thing about businesses being open on Sundays and that was big business for businesses. Can you imagine if stores weren't open now on Sundays? I think you should take some of those Occupy Wall Street protesters and put them to work on Thanksgiving.
Steve Murphy: I'll be shopping all day on Thanksgiving online, except for when I'm watching football or eating Thanksgiving dinner. The middle class should look at how to save some money here. We're up against the wall a little bit and this is the way to do it. Shop online. Don't go through all the trouble of going out to all the big buck stores.
Gary B. Smith: Amazon up by 40 percent over the next 12 months
Jonas Max Ferris: Dow Chemical Company up 25 percent in one year
Tom Belesis: C&J Energy Services gains 30 percent profit in 6 months
Scott Martin: Boeing is up 20 percent in one year