The fifth 6 inning of this the markets know that this is noise, they are turning themselves back to what is important, that is earnings and fundamentals, they are not great but they are going well. Soy, the market says, you know well focus on that stuff, and not worry about washington. Neil all right, who will come out politically ahead, if i could be so crass . How do you mean. Neil who looks better. President wins, that is where we are at. Neil you never say a bad thing about him. No you heard me say a few things okay. Elisabeth, republicans with the sequestration of the most . Ere comethe willi i dont think the republicans have won thege puerto rico battle. It is sad to say we can talk about effective legislation. Neil the idea is to agree with the host. [laughter] it is okay. We will have more on the fallout. Rrbl annoying text spam messages could soon disappear. We are on the case. Gerri althat and more coming up including a record day in the market. Dow closing in the green for the eighth day in a row. Getting further into record territory. Repayment is coming soon, my friends. What the president playing nice with republicans wining and dining them so all is well in washington . We can expect a rousing chus of come by on capitol hill . Wrong again. The two sides could not be farther apart. Today pa ryan really sinks hi plan. Ryans plan would balance the budget in 10 years, something sg soontobe released democrat proposal has no intention of doing. Ryan would cut spending down to only 19 of gdp down from 23 right now. Much of the cuts would come from medicare and medicaid. He was turned medicaid over to the state cutting spending by 750 billion. Starting in 2024, seniors will have the option of the traditional form of medicare or use government assistance to go with a private plane. All in all saving 129 billion. If that wasnt enough of a difference, ryan would not make major cuts to defense that all seems pretty reasonable. How do the democrats feel about it . Theyve already said they oppose it. Senate budget chair will release her budget plan which couldnt be more different. But two different icking point around the usualuspects of health care and taxes, g. O. P. Budget includes repeal of obamacare, which im sure the democrats are not going to like. Ryan reforms the tax code by bringing it down to two tax brackets. The white house releasing its own budget plan in april, we are back to square one. Weave that to ta about. Welcome all, great to have you here. Here are the numbers that popped out to me in ryans budget. Saving 5 trillion over 10 years, but when you drill down into what is really going on here, Government Spending, federal Government Spending is going to increase 3. 4 each and every year. It will increase anyway 5 . Currently that is the plan. In washington we called tha a cut. If we are supposed to rise by 5 . I am teasing you. The spending goes up every year on this budget, but i think this is a pretty heroic effort on the whole. As you mentioned he does the tax reform, goes after the big boulders of the budget, medicare and medicaid. He h, i like the fact he has gone through the abolitn of obamacare. Setting up a huge fight because they willry to pass this out of the house meanwhile a trillion dollars x increase in her budget. Gerri what do you see there . Nothing that will pass, certainly. Certainly we are hearing, has been reported in multiple outlets, a trillion dollars in new taxes in it, and there is no plan to balance the budget in that, but that is not intended to be a government document, with that is intended to be his answer to republicans who said if you do not pass a budget this year, which have no you have noe since 2009, he will not get paid any salary and there are not enough multimillionaires to me th an inconsiderable threat. Gerri i was looking at what they want to spend money on, 100 billion on infrastructure projects, they will find something. Corporate aining and job creation. Not something the government is very good at doing. You say we may be back at square one, this is the perfect opportunity to lay out first and for all why the government planned to inspire Economic Activity has failed, and you just said it, were looking to do more spendi, raise taxes on employers and families and what will that do to serve the americican people . Very little job creation, the budget plans to do more of the same. The interesting thing is paul ryan of course kicked off the budget process for a year. Knowing that is the president s job but once again president obama has not come to the table with a budget. Gerri is there a deficit of leadership here . I lived in washington for 30 years and i dont think ive ever saidresident not propose a budget by this time of year. We dont know when that budget is coming out. Gerri it keeps getting delayed, right . He was president for four years. Look, this is a balanced approach to raise taxes. A lot of people are not aware of this, weve already had two big tax increases. Obamacare has another half trillion dollars. Gerri we ha the tax on people earning 40,000 end up, the tax on payroll tax increase coming into effect, taxes, taxes, texas. You have been looking at some of the numbers r the president , doesnt look so good for him right now. That is pretty evidently why. We have seen disapproval up, people generally side with republicans on how much spending there ought to be, they will make a sudden break, very urgent and sudden break away from the prior tactic which said he was ing to drag the g. O. P. Through the fiscal fights over the next 18 months and go through victory in 2014 and win back the hse for democrats, so the president is at least engaged in an operational pause so you can quiet the criticism. That is because the last two weeks have not gone well for the president. Using all these scare tactics. The American People look at all the waste in the budget and say wait a minute, have to cut the parks rather than get rid of the conferences for wine tasting and things like that. Im great to see the polls are reflecting that. Gerri i was interested in what paul ryan had to say about his budget. He wrote the truth is the nations debt is a sign of overreach. Government trying to do too much and when government does too much it doesnt do anything well. We heard the head of the fda on 60 minutes talk about she doesnt have control of the pharmaceuticals, the drugs want the children and grandchildren. She cant handle that, she cant control that, she cant vouc for all the medication. How is it possible or federal government bigger than it has ever been with more taxpayer dollars than ever before. We will collect more taxpayer dollars this year than before the financial crisis, how is it they cant get their job done . That is the question every taxpayer is asking. You can cut less than 2 of federal spending bause everything the world was going to fall on it didnt happen. Exactly what were talking about with the polling. They overplayed their hand in that battle and now a difficult position moving into battles he does not have the upper hand whatsoever. A Senate Democrat this week that it balances nor has the support from the public. We will have a deficit that will not fare well. I know it is an opportunity for the president to say listen, give me more borrowing authority, i will continueo ru the country into the ground. It is not a credible report. Speaker they get gridlocked they will have the sequestered this year. There are sequesters every year from now, the republicans feel like they are holding the negotiations, that is why the last few days the president has been making nice with republicans. He is having dinner with them read they are asked. Gerri what is the endgame here really . At the end of the deitie day the blueprints only, right . How likely is it reality will match either one . These are political documents, not governing documents. E first tuesday in novembe november 2014, paul ryan wants to point out the republicans say we cant afford to have the president S Health Care entitlement program, democrats had to pass that only to save their paychecks but so they had a counter to ryan. The federal government between now and election day 2014 will spend 8 billion. That is a lot of money. Ill have to borrow 1. 3 1. 1. 5 trillion of that. Everything were talking but in washington relates to this. Borrowing authority and how much spending between now and the next election when voters will have the chance to break the idlock. This is not about what happens. We may go bankrupt. Rri let me tell you. Taxes go up and up. Thank you for coming on. You were just great together. Love it, thank you. We have a lot more still to come and we are just getting started. Some shocking salaries despite dire budget cuts. And the top cop saying we are powerless to do our job, we cant go out to the big banks, republican senator Chuck Grassley gives us his reaction coming up next. There he is. With the spark cash card from capital one. Boris earns unlimited rewards for his Small Business. Can i get the smith contract, ease . Thank you. Thats three new paper shredders. [ boris ] put em on my spark card. [ garth ] boris Small Business earns 2 cash back on every pchase every day. Great businesses deserve unlimited rewards. Read back the chickens testimony, please. Buk, buk, bukka [ male announcer ] get the spark Business Card from capital one and earn unlimited rewards. Choose 2 cash back or double miles on every purchase every day. Told you id get half. Whats in your wal gerri we talk about this here all the time, have big banks become too big to fail come back bail or jail . The big question tonight, why isnt anybody being sent to jail . Do they have a get out of jail for free card . Chuck grassley from iowa, Ranking Member of the Judiciary Committee joins me now. Thank you for being on the show, always great to see you. You got a t of attention this week for a conversation that you had with attorney general eric holder on this very issue. I want ouriewers to hear precisely what he said, here is the attorney general. Im concerned the size of so of these institutions becomes so large it becomes difficult for us to prosecute them when we are hit with indications that if you prosecute and have criminal charge, it will have a negative impact on the National Economy and perhaps even the World Economy and d think that is the facts are these institutions have become too large. Gerri the administration disagrees with you. But i have to ask you, senator, are the banks simply too big, the major ones, five or six that do business with so Many Americans in this country. Doesnt that bring up a whole other issue of if theyre too big you cant govern them, you cant punish them, you cant discipline them, maybe that is an issue we have to deal with but that is not the immediate concern. The immediate concern is number one they said they relied on experts. Senator brown and i want to know who these expes are. They want to know the judgment bas for which you cant ggt them for criminal activity, but the other things, is it a crime you can be a ceo of a company as opposed to a customer in the bank and violate the law and cant be punished for it. You get to big to jail in that instance. Gerri what the attorney general is saying is moving to a jail would jeopardize the financial syssem and i think everybody has in the back of their mind what happened to arur andersen after enron, that company went down in flames. If a large bank were to go down in flames, and woul could take e economy with it, what is the solution to that problem, what do we do about that . That seems unacceptable especially since we bailed them out. Senator brown and i want information on the basis of this judgment. If they are too big in that instance and maybe something needs to be done about that, some of these banks were involved in Money Laundering and drug money. This is pretty heavy stuff, if youre involved in those operations and you know about it, we ought to at least know who made the decision that we werent going do that, and if you cannot enforce laws against Money Laundering, it is pretty bad. We had to get to a situation where you violate laws like that cathat, you can be punished. Gerri hsbc faced a Money Laundering fine of billion, a record only 11 of the profits from last year as a comparison. Give me a little rule, hsbc wasnt all that much i suppose. Seriously, how do we get around the problem of these big banks, what is the solution to that . If your own top cop says i cannot hold these people to justice because there are fears it will bring down the entire Financial System in this country, what do you do . I did not vote for doddfrank, but that was supposed to take care of too big to fail and yohave a bill that you are not too big to fail. The government standing behind it, and that sort of moral jeopardy is a problem in and of itself. Gerri tim geithner says the government will have the ability to close firms under doddfrank. It didnt happ, did it . Wisher kept them from a failing before doddfrank, so who knows what will happen afterwards. Gerri thank you for coming on the show tonight, appreciate your help on this very tough issue. Thank you so much. Now we want to know what you think, here is the question tonight, do banks get a get out of jail free card . I will share the results at the end of tonights show. A warning for consumers who may be getting scammed on your cell phone. What to look out for. And next, you have to be a fool to believe sequester especially when you look at how much they are spending their money. So much for cuts. [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the Aerospace Industry in the u. S. . At t. 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Lets go ahead and bring it online. Attention on site, attention on site. Now starting unit nine. Some of the worlds cleanest g turbines are now powering some of americas biggest cities. Siemens. Answers. Gerri the white house blaming the sequester still making record salaries. We gerri National Parks being closed as spring approaches, air Traffic Control towers going black, High School Field trips and force force to skip towardse white house with casualties from the sequester beard going on and on and on. One of our viewers recently hit the problem right on the head saying with all the end of the world that rick and obama defunding everything failed, he is doing what politicians always do when money is short. They cut essentials while funding the junk. The junk in this case is the precious everexpanding bloated government. Accordinto the federal employme website accordin, since first, there have been 2600 job openings. 2600. So while the economy is supposedly crumbli all around us, they want to add thousands ofeople to uncle sams payroll. That includes more than 100 positions at the department of homeland security, the state Department Said the budget was so hit by sequester they had t create twfree illegal immigrantt were behind bars. The fda hiring 100 people. And the d. A. Has more tn 9003 new openings, so much the threat of forcing veterans to live on the street. Just not true. Not just the new jobs costing billions of dollars. There are the jobs already filled. 20 making the maximum federal salary. President obama needs really expensive Climate Change advisors. The depty assistant has specialist assistant and his Deputy Director earned 370,000 alone last year. Do you really need three people doing the same thing with three different titles . The worst example of the mall, the chief calligrapher, making pretty close to six figures. At her assistant, 94,000, 86,000. When it comes to the white house pay, they make the same argument wall street makes. You pay more to address the best people. It takes a lot f people to leave the private sector, apparently. The payroll under the Bush Administration in his last year in office 33 million compared to nearly 38 million last year, only 18 staffers earned the maximum salary in 2008. All i can say is stop, mr. President , stop trying to pu the wool over our eyes. Stop playing politics with peoples livelihood, stop acting like your hands are tied into congress is screwing everything up. Stop funding the junk. That is right, that is what i think. More coming up. The state of illinois charged with lying to investors. Now more people caught, identity thieves are using your cell phones. The latest on the cheap tricks coming up. Da id put that down. Ah. 4g, huh . Verizon 4g lte. 700 mehertz spectrum, endtoend, pure lte bld. The most consistent speeds indoors or out. And, obviously, astonishing throughput. Obviously. You know how fast our home wifi is . Yeah. This is basically just asast. Oh. And verizons got more fast lte coverage than all other networks combined. Its better. Yes. Oh, why didnt you just say that . Huh what is he doing . Gerri a fox business ert for you now, marketwatch reporting nations biggest tax preparer h r block has boss return boschs after neglecting to fill out a mandatory field on the form. Affected taxpayers expect delays as much as six weeks. The irs says h r block improperly filed form 8863 used to claim educational credit. Likely they have to refile and even pay more. We will let us know what happe