Forbes on FOX

Trump administration set to reveal new budget

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.

TRUMP ADMINISTRATION SET TO RELEASE NEW BUDGET AS FEDERAL DEBT NEARS $20 MILLION

Mike Ozanian: It is feasible, I happen to not think this plan cuts spending deep enough David. The last president in the last 50 years to cut non-defense discretionary spending was Ronald Reagan. It amounts to a big tax cut, because we the people pay for government spending.  We need to cut spending to get the economy moving again.

Bruce Japsen: Well I think there's a possibility here, but you have the white house with all these self-inflicted wounds, I mean they've gone from soundbites of ‘making America great again' to the Nixonian witch hunts, and I think they should go for something easy. 

John Tamny: Government spending is the ultimate and cruelest tax simply because its awful effects are unseen. Every dollar the government spends is a dollar a future Intel or Microsoft or Amazon will never get because they can never form. So it's essential to bring down government spending. I don't care about deficits, I care about the total level of government spending, government is way too large, bring it down.

Sabrina Schaeffer: Well certainly from a communications perspective I agree. I think that that could be very good, because one of the reasons I sort of despise government spending is that it takes away agency and freedom from the American people. Not only is it taxes, John said on taxpayers and it takes money out of the functioning economy, but it makes people less responsible.  If you take something like the $109 billion that the government takes feeding children in this country, many of whom are not in need I should make it clear because I don't want to sound callous, it takes away agency from those families that primary responsibility of caring for your children that sort of the unintended consequence. 

Elizabeth MacDonald: Yes and what he is proposing is really interesting. It's of course you know the cuts to EPA and you know Medicaid, and I get it, people are worried about the poor, the states are going to be able to look at how to deal with the poor, they are a priority. And you know what's interesting they are going to cut government pensions.  Here's the thing, more than half of the time the last 15 years Congress didn't pass the budget, so that's why spending has spiraled out of control. I want to say this gridlock is not the problem in DC its incumbency. It's these vested interests that have to be dynamited out of there because they keep ratcheting up spending. The Nancy Pelosis, the Chuck Schumers of the world have been around since the Reagan era, Joe Biden's been around since Nixon.

Bill Baldwin: I don't think Republicans should burn up too much political capitol on the dollars and cents when they could be making a big dramatic move to shrink the footprint of the federal government. Yes get rid of the department of education, how about liberating the labor markets, and how about repealing about a thousand statutes.

REPORT: DNC TO SPEND $1M ON 'RESISTANCE SUMMER' RALLIES AND PROTESTS NATIONWIDE

Sabrina Schaeffer:  I think it will. You know it's interesting David, some new political behavior research that just came out showed that when you have extreme protests it causes the public to respond in the opposite way, it does not make people want to join your cause. I think despite some of the insanity happening right now in Washington, it's good for Democrats to keep in mind that voters voted for change, they wanted sort of the swamp to be drained. So they better be careful, they better trend lightly.

Bruce Japsen: Who doesn't love a good parade, I mean come on.  We need to get the, the voters need to be engaged on both sides to keep an eye on what's going on. And I don't necessarily think it's going to lead to any legislative victories for the Democrats because Republicans can't get their act together either. 

Elizabeth MacDonald: Some of the protests can turn into riots. Listen I believe in free speech, I have no problem with protests; the problem is this can turn into rioting. And hey Democrats how about a summer of working? Based upon your economic policy ideas, your ideas are like a Jerry Seinfeld show where nothing happens. And I'll tell you something what I love about these riots that go on now since the President was inaugurated, I love how environmentalists, these lefties environmentalists destroy things, they destroy buildings, they destroy cars, there's a kind of irony there. 

Bill Baldwin: Well I think a lot of Democrats are so complacent about the election that they slept through it and this could wake them up. I could see a lot of congressmen running on a witch hunt ticket in 2018.

John Tamny: Oh I'm sure the Republicans would love it if the Democrats get out in their finery and their tie dyes and protest all summer. Donald Trump has his moments, but when the democrats are protesting they kill their arguments, because their arguments are much more obtuse than the other side's, Republicans should be hoping for this. 

Mike Ozanian: That's right, he was going to create a three hundred thousand jobs or something like that, it never happened. This is going to enable Trump to do what Harry Truman to do when he ran for reelection David, he's going to point to congress and tell the people ‘you know why you're not getting tax cuts? It's because congress is out there rioting instead of voting'. 

PRIVACY VS. SAFETY: NEW PUSH TO CRACK DOWN ON DISTRACTED DRIVERS WITH 'TEXTALYZERS'

John Tamny: Yes it's a big idea that needlessly aggrandizes government, why not leave this to insurance companies who can do the same thing, and they can adjust your rates assuming you're stupid enough to text while driving. 

Bruce Japsen: Yeah clearly some of the laws on the books aren't working, so we have to at least look at something else. Listen this hits a little close to home for me because I am actually helping train a teenager how to drive right now, so whatever it takes, whatever it takes.

Mike Ozanian: Well how about David a hot coffee analyzer? A guy driving down the road he's sipping on a hot cup of coffee and he spills it and gets into a car accident that bothers me. But I don't think this will work David, I mean I love you but look, remember when they first came out with radar guns and the police where using that, well what evolved a few years after that? Now they've got radar gun detectors, what makes us think that after they adopt this, they're not going to come out with a technology to counter this technology?

Bill Baldwin:  I think some of these proposals if anything are too kind to bad drivers, after an accident your text and your phone records should be available to both subpoena and a discovery order. 

Elizabeth MacDonald: Text? You want Mayor De Blasio reading your text? So, no, I don't want that. But they could probably text and see the time you were on your text or whatever they don't need to read it. I think this is a horrible idea, I think Mike is right there will be technology to foil it.

'SAFE' PICKS  

EMAC: WMT

Bill Baldwin: CPB