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Subsidies for large oil companies. joining me now is a democratic senator, benjamin carton. >> during the time they testified, did they say anything to have you change or re-think your position? >> not at all. in fact it was clear when you do the math that this subsidies that the taxpayers are giving the big oil companies are not needed. they use it to buy back stock. they don't use it to explore for more energy. it's clear that these tax provisions were never intended for the oil industry. it was started with trying to help export activity and manufacturing activity in the united states which...

They're paying $21 billion of their tax moneys to ultimately help oil companies that are making $125 billion in profits this year. >> the other question, though, is about the other implications, oil company stocks driving the markets. the fact that these are in people's pensions, in people's 401(k)s. a growing industry with high wages and good paying jobs. are you chancing that perhaps some of this will be impacted if these subsidies are taken away? >> you know, last year conocophillips who says it's un-american -- which is pretty outrageous -- asked the person at the pump if it's un-american ...

Every business wants to grow. you don't sit on cash because you want to build up a hoard earning roughly 0% on a basis. you can buy back stock, pay out dividends but at the end of the day what you want to see is demand from consumers. if you get that demand you can hire people on a full-time basis than temporary basis and really kickstart the economy. every company wants that. they're just uncertain from an economic point of view, from a regulatory point of view like health care costs down the road whether or not they can afford to spend it right now. >> ron, it seems like someone has to blink...

Back stock. but not going out and adding on their own or expanding their own enterprises. maybe buying out a competitor. is any of this indicative or a statement on your part about the economy or about the environment? how would you describe it? >> it's less about the environment and more about the value created by combining airlines. there was no better opportunity in our view for our shareholders than for us to enter into this merger and investing in stand alone growth or returning to shareholders. two networks like that, creating one network that provides so much more to so many others. it ...

Democrats sick, it could make an already sneezing recovery even sicker. companies that have the dough and not using it to expand but to consolidate. they say for the economy not a good sign. this was not scripted this way. what do you think of this. >> reporter: you mention it. let's talk about record amounts of cash on company's balance sheets. they are issuing more dividends, buying back stock, nice for shareholders but buying other companies, cutting workers and bad for the work force. >> neil: in the healthcare arena bad for policyholders because there are fewer alternatives you can shop a...