Conscious. She went to the hospital. A suspect is in custody. The number of schools were on lockdown. Now theyre allowing the schools to go for the day. The perpetrator identified as a student. A student at price middle. This may have gun with a conflict between students of two different schools. Im shepard smith. An update on this 7 00 eastern, 6 00 in oxford. Captioned by closed captioning services inc. Tomorrows jobs report, more ominous signs for the economy and now, pink slips for the president s jobs council. Welcome everyone, im in for neil neil cavuto. And one day after learning the economy is shrinking, news that the job marketes democrats say its because federal spending is drying up. To craig smith who says that argument is all wet. Craig . You know what . I think im going to agree with the democrats. Federal spending is drying up. It was down and look what happened. Well, thankfully, federal spending is stopping, because look at everything that theyve been doing, eric . Up in of it has been working, and when you start to think this whole thing through, theyre going to blame it on bush or the republicans and theyre going to say, this was all part of theses quickster done the sequestration deal, and everybody stopped spending but you know the seed0s the last quarters gdp were sow n in the summer of 2012 when president obama put politics ahead of our National Security or any economic growth. Its its ridiculous. Thats the most important word, growth. When the economy opportunity grow you have no way of digging yourself out of the ditch. The 161 2 trillion ditch. Heres my point. If the government stops pending, if the economy is so weak that when the government does stop spending, it goes into a neglect testify growth or recessioner in period, thats not the sign of a healthy economy . If agree with you. But keep in mine what im homing now, eric, we city a little stability, at least until 2014 elections. We know that people over 200,000 a year are going to pay 41 2 more in tax. We know theres certain stability. Lets hope we wet through the debt ceiling crisis, and then youll see the private sector invest. If theres one thing this president is going to be known for, he is all over the social issues, guns and gay marriage and healthcare but has done nothing to help this economy. And when you look at what jack will you and rob neighbors and gene sprawling did in the summer of 2011, are you shock wed have had this anemic recovery . And were not in a recovery. Near a recession. One more quarter and were in a technical recession as well. One more quarter of negative. Lets talk about this for a little bit. So, what we really need is growth to come back into the economy. For me, Ronald Reagan, margaret thatcher, said let people keep more of their own money and then people invest in their businesses or invest in themselves go out to dinner, a movie. Thatthats economic growth. Youre absolutely correct. And look, the numbers are clear. If we were growing at three to four, five , which is not out of the realm of possibility, happened under Ronald Reagan we could grow our way out of this problem. Eric, youre not going to be able to tax your way out or cut your way out of this. We have to create growth. How could we create going to . Unfortunately the head of the imf told us we need confidence in our currency, we need confidence in legislation coming out of washington, dc. You know from fox business, the Balance Sheets look very good in Corporate America right now. If they had some stability from a government and people had money to spend, wed grow our way right out of this. More money to spend, more things to buy, more Economic Activity. Today we found out that the president has disbanned his jobs council after a couple of years. In 2011 it met three times in 2012, it met all of once. So is it that the economy is getting better, the job market is get can better, but now that he doesnt face another reelection he is not worried about it . I think your last choice. How do you keep the jobs council when the head of it is sending jobs to china. It gets to be rather embarrassing. Mr. Obama may be a wonderful man. I dont know. Ive never met him personally. But he doesnt understand the first thing of economics. He is going to go down in history as the worst economics president we have ever had. The people around him have given him bad information. Can you imagine what paul krueger must be saying the New York Times . Spend another 2 trillion and spend our way out of this. Never been able to do this. Stay on the jobs council for a bit. They actually came up with some decent ideas. Trying to figure out ways to promote more travel to america, trying to figure out ways to create Economic Activity in america. Not a bad idea. Not a bad group. Why bother disbanding it . Was it taking up to much of his time . Could have messed up his golf schedule. He did the same thing with bowls bowl simpson. They bring up great recommendations and he says well talk about it later. I have more important things. So they love to have meet examination discuss the issues and Corporate America did youre right came up with very good suggestion how to bring people back to work and start to grow the economy. The president is too busy to deal with it. He now has gun control he has to work on, and gay marriage he needs to work on, which is far more important than getting the 7. 8 of our work force back to work, paying taxes, creating growth in the economy, which you and i both know is what we need. We have to leave it there but well be watching for the mom unemployment number and find out itself it moves from 7. 8 . Thank you very much. See how the market responds to tomorrows jobs report. It was a down day today, a bit, but for january, this is one heck of a month. The dow closing out its best january in 19 years. As we debate gun control here were giving arms to egypt. Senator rand paul trying to stop that. He just lost the fight today but is not giving up. He is here, and remember this . I am not going to keep cutting the discretionary budget which, with the way, is not out of control, despite what you hear on fox news. Is it out of control now senator . All stations come over to mission a for a final go. This is for real this time. Step seven point two one two. Rify and lock. Command is locked. Five seconds. Three, two, one. Standing by for capture. The most Innovative Software on the planet. Dragon is captured. Is connecting todays leading companies to places beyond it. Siemens. Answers. announcer at scottrade, our cexactly how they want. T with scottrades online banking, i get one view of my bank and brokerage accounts with one login. To easily move my money when i need to. Plus, when i call my local scottrade office, i can talk to someone who knows how i trade. Because i dont trade like everim with scottrade. Me. announcer scottrade. Awarded fivestars from smartmoney magazine. I am not going to keep cutting the discretionary budget which, by the way, is not out of control, despite what you hear on fox news. Well, its not out of control. My next guest would like to know what is . She uncovered these items in the fiscal year 2012 discretionary budget. 141,000 to study pig manure in china. 225,000 to study the habits of jordannan university students, and 20 million on an agricultural based Reality Tv Show in india. I dont know what a hookah hand is . I think some of the questions they were studying there was, is hookah smoking better or worse than smoking cigarettes . But this waste is just a tip of a massive iceberg. Federal spending is out of control in pretty much all areas of the budget. The point youre making is, when senator landry said, no, fox news would have you think its in the discretionary part of the budget. Well, it is out of control there well, is it not . Discretionary spending grew by 40 over the past ten years, yes, it is out of control. Its true the entitlements are driving our spending and debt challenge but theres a lot of room to cut, especially nondefense discretionary spending. Can i just ask you we spent 20 million on a reality tv series in india . 20 million . Thats right. The department of agriculture spend tuesday hundred million every year marketing u. S. Farm products abroad. This particular Reality Tv Show in india was supposed to advertise cotton, but india is a net exporter of cotton. This afternoon the senate voted to pass the suspension of the debt ceiling. Thoughts on that . Was that a good move . Were in the middle of the budget process and one of the caveats with this bill is that, yes, we suspended the debt ceiling until may 19, but the senate now has to come up with a budget. This is the time for lawmakers to find these important spending cuts, making the reforms we need and in the entitlement programs and cutting inappropriate and wasteful federal spending. Thank you very much. Thank you. So from funding pig manure to putting lipstick on a pig. We showed you how the mainstream print media was portraying the awful gdp report, showing the first contraction in three and a half years. What you had was a parade thrown by all of these democrats and jay carney and nancy pelosi. Woohoo, raise the roof. Negative growth. What they blame the house. The reason for the negative growth was obstruction in the g. O. P. Driven house. Yeah, thats right, and of course, nancy pelosi, harry reid who is wagging his finger and telling people, dont badmouth it. That ways the exact quote he used. And unfortunately there are too many of these manystream media types who are falling right in line. It was a stunning drop. Shhh. We also pointed out we read nbc didnt even mention the negative growth. Abc danced around it, a slight downturn. This one gets me. Scott pelley at cbs talked about the downturn but assured viewer, dont worery. It will probably be revised. Wink. Its is no into see some candor there, especially when you compare it to the prepackaged, preprogrammed talking points, as you said, blaming the usual suspects. The House Republican obstructionism and manufactured crisis. The exact quote from nancy pelosi there. But the truth is very depressing. For many people trying to make it in the economy, and theres no candy coating that. Its not just lipstick on a pig theyre using. Theyre trying to use lip gloss on the pig to blind people with their shiny lies. Were going to turn pages. Look at this video released by the department of hopeland security. We want your reaction. Watch. If you are caught out in the open and cannot conceal yourself or take cover you might consider trying to overpower the shooter with whatever means are available. To protect your hiding place, look the door if you can. Block the door with heavy furniture and close, cover, and move away from windows. Hide behind large items such as cabinets or desks. So, honestly, michelle, you have antive shooter situation, and they say grab a pair of sis scores. This was not an onion parity, not a saturday night live skit, this is Homeland Security telling people to defend themselves against the next wave of terrorists or violent criminals with their desk chair. I cant i cannot deal with this, eric. You have to laugh because otherwise you would cry. You might cry. I wonder how Much Research they did and thats what okay came up with . Maybe throw a bottle of elmers glue at the perpetrator. To take a serious turn on this, there are so many mandated government, gunfree zones in this country, and we are disarming and disempowering people to defend themselves and this is just a sick joke underlying that. Absolutely. Were going to switch gears. Next topic, illegal immigration, obviously a big topic this week. The gang of eight senators say what theyre pitching is not blanket amnesty, would actually send 11 million Illegal Immigrants here to the back of the line of citizenship. What say you . Same old song from the amnesty gang. Ive been reporting on this issue for more than 20 years. Ive said tirelessly that immigration is first and foremost a National Security and enforcement issue. And if these politicians are truly committed to National Security, border security, and enforcement, they wouldnt tether it in a politically expedient way to amnesty everytime they lose an election. Are you hearing me, republicans, on this . Its very frustrating because were supposed to be the party and the movement that supports the rule of law. Instead of the 11 million illegal aliens dowe know that a bogus figure. Probably upwardded of 20 million now. Theyve used that statistic for 15 years. Instead of making it a priority for the 11 million illegals in the shadow, how about putting a priority on the lawabiding people in country who have been waiting in line the right way. Shouldnt we value them . Theres 4. 6 Million People who haveored these vees saturday waiting to get into the country. Thats where my compassion and sympathy lies. Yesterday i had man take a listen to the interchange i had with him. There are lot of people out there say, theres effective immigration going on in america, if you just wait in line, fill out the forms, do it properly, you become a citizen. I dont think that is accurate. Frankly, its not a system that allows you to do that or else everybody would be in line waiting to make sure they get it. Theres a rope why theres a bipartisan support to fiction Immigration Reform because obviously the system is not working. Goo ahead, michelle. I dont understand what he is saying. The system isnt working because it puts a premium in politics on those open border voices that scream the loudest. We have had a dozen amnesties since 1986, when reagan made the hornettal mistake of believing the democrat would tie amnesty to enforcement. That promise has never been fulfilled, and those who have been am in amnesty have buttd in front of the line and loaded ode down the system and increased the waiting time and processing for people who honestly was washington is telling them, theyre chumps for respecting the rule of law. Well leave it there. Good to see you. The call to arms to stop arming egypt. Senator rand paul is here, and a deadly twister rips through georgia. The come on. Get over here. Thyou eat less. Ing weiyou lose weight. Et. Its a great plan. Until you get hungry. Thats the time to take slimful. One tasty 90calorie slimful and a glass of water satisfies hunger for hours making it easier to eat smaller meals, and resist snacking. Your friends might think you found the secret to losing weight. But its no secret. Its slimful. Eating less is a beautiful thing. Protests raging in egypt amid warnings the country could collapse. Still lawmakers in washington killing an amendment that would have banned the transfer of fighter jets and tanks from the u. S. To that nation. Rand paul, the senator behind that amendment. Senator, thanks for joining us. The amendment failed today. Tell us about the amendment. What were you trying to do . This amendment would have stopped the transfer of f16s and tanks to egypt. You have seen those pictures of tens, if not hundreds of thousands of people rioting in the street. Does that look like a stable country to you . Combine that with comment comments by president morsi that were translated to say that jews were blood suckers and descendents of apes and pigs. Doesnt sound like a country we should be sending our mosted a vanned weapons to the other side up here, theyre so used to doing one thing, theyre so used to having unlimited money, and the fact they think we should buy our friends. They keep doing the same thing but its wrong. So many people approach me and say, what are we doing . We can barely pay our own bills. Were second f16s to egypt and were not even sure what morsi is . Muslim brotherhood new . The Old Fashioned . What is he . Heres the thing. If you polled this question, i think 80 of the people are with me, that we shouldnt be sending weapons to egypt, but if you take a vote up here, 80 of the senators voted against me. But that shows you houston howe out of touch they are in washington and also is a good reason why we ought to have term limits because frank live these guys just dont get it. Whats their point . Why did they vote against your amendment banning the f16s. We need to make sure the country stays stable . Some people see it as a make work project. With give them money theyll buy weapons from us and that creates jobs. If that were true why dont we give countries around the world money to buy our cars. Its foolish. But then some of them say, well, they wont let us use the suez canal. My response to that is, they should want us to use the suez canal because there are fees for going through the came. They should want to be participating in trade because we send them food because they cant feed themselves. So, we dont have to pay england to be our friend. Why do we have to pay egypt to be our friend . I think before we send them anything, they should act like our friend and not burn our flag and let a mob get on top of our embassy and chant, death to america. Its a huge mistake to send them weapons. Im guessing one of the countries concerned about sending f16s to egypt would be israel. Where are the pro israel lobbies on these its quite interesting. Ive talked to a lot of the a lot of people think theres only one pro israel lobby. Theres one dominant one but theres many others, and also members of these groups, and i guarantee if i went to any of their general membership meetings, the pro israel americans are with me on this issue. But they need to call their leadership because many of your pro israel groups are lobbying against me in washington. Theyre lobbying for sending weapons to a country that very well could be an enemy of egypt i mean an enemy of israel and has been an enemy of israel, and i think if theyre membership knew these people were up here conspiring in washington to send more weapons to egypt, and then israel has to have then more weapons times two, i think most pro israel americans would be upset to offend out the lobbying groups are lobbying against israels best interests. The one im thinking of is ai pac. They were in favor of these going to egypt . You better ask them directly. Thats been mercky today and we have been trying to pin that down. My understand is phone calls were made from apac lobbying for weapons to be sent to egypt. So if youre a member of apac and prize our friendship with israel, we need to call your leadership say, what in the heck is going on . Why would you want to send plays to egypt to president morsi, who is an antisemite who doesnt believe in the holocaust. I think their leadership does not represent their