Transcripts For CNBC Squawk Box 20120813

hot issue on the campaign trail and we're going to talk to him. then at 6:50 eastern, a man who knows paul ryan very well, senator pat toomey. then at 7:00 eastern, congressman chris van holen who has gone toe to toe with ryan on economic issues more than just about anybody else out there. and and then we have wisconsin governor scott walker joining us at 7:30 a.m. eastern. plus, we're going to talk more about spending and taxes with senator bob corker. and it doesn't end. congressman tom price is the chairman of the republican policy committee so we're going to find out for him how the issues of the campaign trail play out on capitol hill. we have a busy morning of conversations ahead, but first let's get you caught up on the other business headlines of the morning. julius baer buying bank of america's private bank outside the u.s. the swiss private bank will be paying $882 million. the deal is set to boost assets under management by 40%. kay kelly talked about this story just last week. japan's economy is growing at a slower than expected annualized rate of 1.4% in the second quarter. among the reasons, consumer spending moderated and exports were sluggish. finally, joe mentioned facebook at the top of the hour. shares have lost 40% of their value since the company went public on may 18th. starting on thursday, more than 1.6 billion shares will become eligible to come on the market in a number of ways. so a number of shareholders are allowed to sell, including employees and other investors. some analysts fear an influx of those shares could cause the market the fall even more. usually i yell out, hey, voe, about about them spice girls? joe, how about paul ryan? >> i missed those. if people know a lot, you know, of the lockup. i guess it's possible, but it's not secret, right? >> it's not a secret. it's in one of the overhangs on that. >> you would think that anyone that is going to sell would sell before the lockup. you know that's what people worry about. chad johnson. oshaocinco, is that chad johnson? no. >> we didn't talk about golf. >> golf was a big jan. >> a yawn for you? >> totally. when you have a seven stroke lead or whatever, it wasn't that exciting. g-20 is planning an emergency meeting on rising food prices. leaders want to coordinate a response after the u.s.'s largest drought in years. president obama is going to begin a three-day tour in iowa today. he will announce on the department of -- that the department of agriculture intends to buy up to 170 million pounds of pork, lamb, chicken and cattle to help support farmers suffering from the drought and iowa is, of course, a swing state. paul ryan will be in iowa today. he'll visit the iowa state fair in des moines this afternoon. mitt romney, meanwhile, will continue his bus tour making stops in florida today. we heard on "60 minutes" they will be splitting. paul ryan made the point up to this point it's been two against one and now it's going to be two against two. and he's pretty -- i wouldn't mind him on my side. he's very -- he knows his stuff when it comes to free markets and small government .how to vote. and he's got an aw, shucks, sort of demeanor that allows -- i don't know if i'd say it's reagan -- reagan never got mad, either. >> very likable. no matter what side of the aisle you're on, he's a very likable guy. >> all he's really advocate sg trying to allow entrepreneurs to be unfettered so that they can grow businesses more successfully and hire people. but you're going to hear somehow that they're going to -- that's going to be conflated with lining the pockets of rich people is all he's interested in. you're going to hear this someone who lost his father at 16 and went to work at mcdonald's and these values were instill in him, a six-term congressman and elected in a democratic district and being fairly conservative, you're going to hear that his entire goal in public life is to line the pockets of rich people. chris van hollen said that. >> no, there are some democrats that will have that issue. openly, the decision is a bold one and it should help galvanize the base. the question that i have is what happens to the independents? meaning there are some independents out there that might say this is a great conversation, i want to be part of it. but i think there are others, tho those, especially frustrated obama voters who think perhaps he's too far to the right. meaning those that thought romney was sort of like the moderate massachusetts governor that some people thought that maybe this takes him more right than they thought. >> someone once said that's why we have elections. and i think the journal has it right. this election sets off a debate on government. it's that simple. it's not just a referendum at this point, it's a choice. and there's two starkly different visions for america's future. i don't know this time around what finally happens. i don't know if the politics of envy finally takes over. in the past, running on a class warfare platform hasn't worked out. but we'll see whether the time is right. >> but there is an argument for 34th that this makes it more polarizing. you have oh bam in on this side truly and then you truly have romney on this side. i think some people thought romney was closer to the middle. when we talk about bo simpson -- >> you've heard that he doesn't -- >> he was memorable, but many voted against him. >> because of obama care. he's been on and he's answered -- it allowed obama care to stand and it didn't cut enough out of -- >> i'm not debating the point of whether he should have voted for it or not. i'm suggesting this idea of the middle ground i think now sadly, to me, has been lost for both parties. >> well, ryan is not running for president. he's running for vice president. so you saw last night that when they ask governor romney, now, is this all about the ryan budget? he goes, ow, i've got my own budget. and in terms of -- you know, you're seeing that they're going to definitely -- i don't think you're going to see romney adopt all of paul ryan. >> i did think, by the way, the most interesting moment in the entire "60 minutes" clip, this idea that they are -- that you're voting for romney, in many cases, you see that one shot where ryan sort of overtook romney. romney tried to explain something and romney said, no, no, let me -- >> and i saw a lot of people talking about how romney was even better with ryan there. he was more focused. >> romney was better and ryan was better. >> if it's two against one, if it's just romney, you can see how sometimes he may go -- it doesn't hurt to have someone that is smart and sharp and knows how to debate congress. romney, it's almost a father/son type of issue. i think paul ryan is the same age. you know, you see your dad and he's going off, well, you think it would be better, dad, that's not the only dynamic. but when ryan focused him, it was that good. paul ryan knows how to answer a lot of these. you've seen him here many times. he has that aw shucks sort of demeanor where you can be nasty with him and call him, oh, you are and you just want to line the pockets of rich people and you're going to push grandma off a cliff in her wheelchair and he just kind of shrugs and says, you know that's not true and he explains exactly what he does do. but you've seen what they've done to romney and they're going to try and do that at this point. >> that's why i said it's going to be much harder. >> but more so than that, he does have a much stronger point of view or had a stronger point of view than it appeared that romney had up until now. whether romney adopted it or not. >> that's what this election has been about. you like the path we're heading down or you don't like it. i'm not saying that. but there is a path, meaning before i think you were voting for obama or you were voting against obama. now you're voting for something. and you're voting for a path that ryan represents. some people would say that's a great tap in. the good news is it puts the entire issue on the table in a meaningful way. it forces obama to address it which he has thus far not done enough of, some people would argue. but we have a lot of people ta touk to this morning. >> we have a lot of sound from congressman. he's been a frequent guest on "squawk box." we've asked him a number of times about the likelihood that he would get picked for the vp job, including two appearances that he made in april. >> do you know, you're only at 4% on end trade to be the vp. and portman is at 30 -- over 30%. he's in the lead. >> he's a great guy. i'm a big fan of rob portman. it is not in the romney campaign interest for me to comment on that. >> is it you, you don't have to say the name of the person, but -- >> excuse me? >> there are plenty of great people that he could pick. >> the usual suspects? >> a lot of poem. >> we know who you're talking about. it's you. >> i don't know. i'm not going to -- have they started vetting you? what have you got in your closet, anything? can you tell us now? and get it out there. >> i'm fine. i'm a good person. >> you're good. all right. very good. >> john harwood joins us now. you know, it's a dirty business, but i've heard -- one of my favorite things is, you know, palin, for a couple of days, energized the base, too. and then we took a closer look and you saw what happened. it doesn't appear to me that this in any way, shape or form is similar to picking palin at all. but you're going to hear that posited and it's sort of implying that sooner or later it's going to sour and it's going to look like, you know -- it's not going to look quite as rosy as it did at the beginning, john. but the comparisons are le ludicrous in my view. >> i agree with you. the only similarity is they both provided electricity into the race. but for totally different reasons. paul romney, as mitt romney said over the weekend has become the intellectual leader or the republican party, the house republicans and he's genuinely got them fired up. fired up in a base is important. he's young, he's vibrant, he's likable. he is more fluent in economic policy and tax policy and deficit policy than anybody else in the republican party. he's a catholic. catholics are a big swing voter. he's from the midwest. republicans think of the midwest if they've got a shot to beat president obama, that may be where they beat him. but he also, in the way that you and andrew were just talking about, clarifies the choices in ways that removes a lot of fuzz that you normally get in the dodging and the ducking that you normally get in political campaigns and he puts strength in front of the american people a choice. and essentially the choice is, paul ryan and mitt romney are saying that -- or let me start with president obama. president obama is saying if you want the government that you got right now, a close approximation of it, a close approximation of the medicare system we've got right now, the medicaid system, you've got to have somewhat higher taxes. paul ryan and mitt romney are saying, no, we don't want the medicare and medicaid government we've got now. we want it to be smaller and less intrusive and have a narrower scope and we want to cut taxes. that's the choice. >> i would say, as you said, i don't know, the intellectual almost the incident electal voice of the republican party at least in terms of issues. the other thing i would like, the journal said it here. mr. obama has always avoided debating with mitt romney on those issues. he's changed the subject. it's interesting to watch. the president knows that mr. ryan knows more about the budget and taxes than he does and, therefore, he doesn't really want to debate him on these things. of course, that's a "wall street journal" talking at that point. >> i'm not sure that's true, joe. >> i know, i know. >> but, remember, the moment -- remember the moment when president obama delivered his version of a ten-year deficit reduction plan in a speech, i believe it was at georgetown university and paul ryan was in the front row and he called out ryan's budget. a lot of republicans thought that was a cheap shot. but the obama campaign wanted to elevate that. >> but people didn't think that he would even show to that. and it did seem like a -- i don't know. the supreme court felt the same way at the state of the union that time when they were being scolded. >> my question for john, and it goes back to the question of independence, the 8% that has not made up its mind, does this help them on the republican side or are there people who are going to shy away? >> well, there are two parts to that answer. the first is that's why they have elections, that's why they play the games, that's why we have a world series and fight and contest. there's a bit of an unknown to it. i would say based on what we do know, the odds are good that democrats are going to be able to come on top in that argument. republican strategists that i talked to over the weekend said they are worried that house and senate races are going to become nationalized around the budget in ways that aren't going to be helpful for republicans. remember in 2010 when republicans were running successfully to take back the congress, they kept far away from the paul ryan road map because they knew that it was politically dicey. then after they won, they pushed the ryan budget, they pulled the party together behind it and now that's documented elevated is front and center even more because of romney's choice. and we'll see whether they can with stand the flack coming in from democrats and press the argument that i mentioned before, which is that we need a smaller government, a narrower scope of government and lower taxes. >> bush won in '04 and thought he had the political capital to do something with social security, which has always been the third rail, but it's not even a tenth of as much of as problem as other entitlements in the future. i think he had a republican congress. he got absolutely nowhere on that. and even when paul ryan says we need leadership and we need to tell the american people the truth, you do that at your own peril. and donald trump, when ryan put that budget out, he said that was irresponsible to put it out. you should have waited until after the election. you should wait because that's going to hurt their chances. then we had ryan on that same day and ryan said, fine, if you want to keep going down the path of not being honest with the american people about what we need to do, fine. but one of these days, you're going to need leadership that tells you this is unsustainable and we had david walker on friday. remember, andrew? and we look at what our liabilities are and the size and how they're growing. but you do it at your own peril and that is what is among -- >> joe? >> huh? >> this is why the choice is bold and gutsy and admirable for exactly those reasons. people have tried to do it after the election. and often get hammered by it because voters weren't speccing it. but if romney and ryan successfully win this argument, and, again, they're behind, they -- the recent setup polls has shown obama with the lead of somewhere between 6 points in our poll fox had nine, pugh had 10 -- >> gallop and -- are even or is romney up? >> yes, you're correct. if romney had more capital than bush had. jan, we have to go. we always have to go. we've gotta go. >> enjoy the beach out there. coming up, we're going to connect the dots and find out what a romney/ryan ticket means and how the markets are pricing a romney election. stay tuned for that and a lot more this morning. oahhh! 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[ all ] i'm with scottrade. welcome back. how are people going to react to mitt romney's new running made, vp candidate paul ryan? joining us now, john sylvia is going to laugh when i say that because he always does. i'm not really sure why. anyway, kevin, what is -- is this -- will the stock market react to rawle ryan being picked? >> i don't think immediately. i think what we're seeing in the futures is a relatively national open. i think the choice of paul ryan falls in the spectrum. he has places like the heritage who thinks the plan doesn't go far enough in terms of cuts and extending tax benefits. and any of the other places like the center for american progress which thinks it only goes to benefit the top 1%. i think it's a good choice, one that the market was thinking about. i don't think you're going to get much of a market response to it immediately. >> so why has the market been acting better? >> i think two things, i think the market likes the idea that the european central bank extended an olive branch to provide additional liquidity. and to there's some sense that maybe europe is moving towards a constellatory reckoning of their problem. then here in the u.s., there's tashlg stimulus to come through. >> john, where with we in terms of the macro feeling? what's the probability of qe3? >> let me add another factor to why the market has stabilized. i think that basically we've removed the recession/sfregz story. people have gotten into the feeling we've got moderate fwroeth. production this week is probably up 0.4%. so it seems to be are retail sales better, there seems to be some movement forward. i would say, joe, no, no qe3. you've got moderate growth, steady unemployment and i think the fed at this point in time is still looking at the data waiting to see whether we move one way or the other. but the inflation numbers you'll see this week, cpi, ppi saying very, very low, allowing the if he had to have continuous operation twist without going into a more aggressive q ve three. so i think that's the worst case scenario for the economy? globally, it didn't come to pass. >> that's right. i agree. >> i still don't see why at 8.3% unemployment the fed is sh you know, feels that it's in a position where it hs to take that on its shoulders. why wouldn't you do it, then? you've got a dual mandate. why wouldn't you do it? because there isn't that link between continued monetary ease and lower unemployment rate. there is a lot of liquidity out there. interest rates are incredibly low. on average, there isn't that much of a push. >> but if it does no harm and the stock market goes up because of it and the wealth effect comes, that is the way these guys think. politicians, if they're not going to help, we'll find someone who will. >> one of the things that's interesting about that is if you go back to bernanke's first fomc meeting at the fed, he asked, what does it market look like in terms of what we're doing about monetary policy. the first was what is happening with tax issues. >> object. so if i look at these facts that the pretty market is up, these aren't the kind of things ben bernanke himself would suggest would lead him. >> thank you. we're done. see you later. >> coming up, more on this morning's top story, mitt romney's running mate and how paul ryan could change the conversation. if you are one of the millions of men who have used androgel 1%, there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. 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it looks like ryan seacrest. presidential candidate mitt romney picking frequent "squawk box" guest, that's how he basically is known, i think, paul ryan as his running mate. that's what they said. oh, my god, they took that guy who is on "squawk box" all the time. the choice brings the issues that we talk about on cnbc every day, though, to the forefront of the political debate. topics such as the budget as a looming fiscal clip, taxes and jobs. it's an argument about big government versus small government. high taxes with low taxes. free enterprise versus, you know, central planning. romney and ryan both appeared on "60 minutes" last night. >> i have my budget plan, as you know, that i've put out. that's the budget plan that we're going to run on. at the same time, we have the record of president obama. if people think, by the way, that their utility bill has gone down, they should vote for him. if they think jobs are more plentiful, they should vote for him. >> the president has a terrible record so he can't run on that. he doesn't have much to round on so he's going to try and run on distractions. he's going to try to divide people, to try and win this election. >> joining us now to talk about all of this, major garrett and jane newton small, washington correspondent for "time" magazine. major, i'm going to start with you. lisping to that clip on "60 minutes" and we were having a conversation before about this issue of independence and which way they would go. but also, what budget ultimately and directionally romney goes. and the question i have for you this morning is how far away can romney go from ryan's previous plan? >> about a millimeter. >> about a millimeter? >> yeah. no more than that. what mitt romney did is created enthusiasm, authenticity and substance for a presidential campaign that was noticeably lacking all four. he did that by picking paul ryan. when he did that, he brought within his campaign the paul ryan budget. lots of republicans are vaguely aware of mitt romney's 59-point plan, but nobody really knows what's in it or has memorialized it or more importantly ever cast a vote on behalf of it. they've done exactly that for paul ryan's budget three times in the senate. then senate republicans, house republicans, some of whom were not inclined to follow paul ryan to do just that. so the paul ryan budget is now in the romney campaign. romney better know it and understand he has something that's his own, but he's brought something far more substantive and far more meaningful politically into his campaign and, therefore, he owns it. >> jay, paul ryan's plan, is that a wing plan with the swing voters in this country? >> it's actually not. the paul ryan plan is extremely to the right. so romney is doubling down on exciting the base, on getting conservatives out and that will certainly help him do that. but as far as appealing to independents and months rat voters, it's sort of the opposite of that and it brings the campaign much farther to the right and makes it a clear idealogical choice on both sides. big government having small government, higher taxes versus lower taxes and ryan's vision would shrink the budget by 2014 and would balance the budget at 2040. you're looking at the obama plan that was put forth during the deficit talks which would cut $4 trillion in the deficit. so there are two sort of -- and they would bring in more revenues to offset that. >> major, there were opinion pieces this weekend suggesting this was a very bold call for romney and one of the reasons that he went as bold as he did was because he thought he was going to lose. >> i think every presidential candidate facing an incumbent president thinks they're going to lose. i think that's true regardless. over june and july what had happened is they didn't fill in the narrative. they didn't create a sense of attachment with the country and mitt romney well enough to absorb all of the negative attacks that they knew would inevitably come from president obama's campaign. and when i was up in boston a couple of weeks ago, his senior adviser said we're down, but we have some very important work ahead. we have to ramp up the narrative of what this campaign and this candidate means to the middle class in this country. i think they believe that paul ryan, at least mitt romney believes this, fills that in to a fairly well. gives him a way to connect and give something more substantive and gives more hepp, if you will, to his campaign message and the larger themes. republicans have been saying this campaign can't just be about negativity focused on president obama and his record. you have to offer something as a clear and credible alternative. romney believes for better or for worse, paul ryan is the best person to let him do that. >> we have to run this morning. but we appreciate your perspective the. coming up now, vice presidential candidate paul ryan has done the "squawk box." today we're going to invite george p. bush to try it out. he joins us to talk business, politics and keeping america great. you tell us what you want to pay, and we give you a range of coverages to choose from. who is she? 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[ male announcer ] the united mileageplus explorer card. the mileage card with special perks on united. get it and you're in. unfortunately the president has chosen more of this class warfare, the politics of division and distraction because he's a terrible economic record. you saw the latest jobs report. poverty rates are at an all-time high. it's a record he can't run on, so it's distracting the country to try and win this election and we want to call him out on it and say there's a better way forward. we have better ideas on health care, better ideas on taxes, on debt reduction, on growing the economy. >> paul ryan appearing on "squawk box." joining us for the rest of the morning, george p. bush. i can't call you p. yet, can i? really? now? i call my wife that sometimes. her name is penelope. that would be too confusing. he's national cochair of the match rick pack and on the national advisory board of georgia mitt romney's steering committee. a lot of things have happened in your life recently, too. i think your mother told you you should distinguish yourself in a field, when you get into politics or -- and you decided to go and earn your it's something you're born with. and inspires the things you choose to do. you do what you do... because it matters. at hp we don't just believe in the power of technology. we believe in the power of people when technology works for you. to dream. to create. to work. if you're going to do something. make it matter. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. 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[ yawning sound ] . we are back. we had some technical issues, losing some audio. we apologize for that. we are back with our guest george p. bush. so you were at your grandfather's convention, you did the pledge of allegiance, correct? yes. >> and you were 12. during the election, you actually gave a speech. you've seen politics your entire life and you still want to do it, maybe. >> absolutely. i feel that call to public service. i think it's a common characteristic throughout my family, the virtues that were instill in all of the grandkids of my grandfather to give back to the community wherever possible. public service, politics is one way of doing it. it's hyper partisanism nowadays, but there are ways in which you can help out. >> and you were involved with state politics, correct? >> i'm involved with two political action committees. >> mavericks of young republicans, correct? >> that's correct. >> and you actually were backing the tea party guy down there that won, cruz, right? >> ted is one of the founders of mad pac and is a good friend of mine. he had asked for my endorsement. there's nothing against the other guy. both of them would have been great u.s. senators. but ted is a fighter and i think he's going to add a time of value to the u.s. senate. >> did you have to go against the republican candidate in texas to back ted? >> i was one of the few to come out early, to be honest with you. i felt taking some political risk sometimes is worthwhile. i did the same thing for mark arubio when he first announced. but sometimes you just have to go with conviction in politics, even if it means it's not the most popular choice. >> you're never going to make it if you go with conviction in politics. right? do you wish it had been rubio? >> i think it he would have had a lot of value in areas. i think we should have reached out to the hishispanic in a different way. but he's an el question advocate for free markets, as well. >> he is. he's a free market senator and i have confidence that he's going to help deliver florida as it is and that's what the campaign is going to ask hem to do, is to help out in a key battleground state for us. >> let's talk about your career in texas and even in this business environment now. talking about texas is partly nothing like talking about the rest of the country. >> well, you know, cnbc, you know, has actually placed texas the number one place to do bet business in the two of the last three years, which is a true testament to what we're doing. limiting governments and encouraging entrepreneurs to go out and start businesses. if there was a place to be a small business guy in this country, texas would be one of the places. the anecdote that i love to share is when living in austin, more often than not, i see new york license places, illinois license plates, california, people from all over the country coming to search for the american dream in the great state of texas. >> well, the new york and california place might be in austin because that's the only liberal city down in texas, isn't it? >> you definitely keep it weird in austin. that's the local saying. >> keep it weird. >> can we go back to florida for a few seconds? >> sure. >> mark rubio and also what's going to happen if florida. from what i read over the weekend when you talk about ryan,becomes, if you're on the medicare stuff, on the medicaid stuff, on the social security stuff, is that a winning argument in a state like florida? >> well, you know, i think when we dive into the path to prosperity, the ryan proposal in terms of reforming entitlements like medicare and medicaid, most of the transition and reform that takes place does not take place for another ten years so we have to get the message out in terms of the reality of what his proposals include. basically what we're saying is that people who are at or near retirement age or eligibility for medicare and medicaid are still eligible. >> then it's a choice, the regular system stays in effect but you can also get it from a private insurer but see, they're not going to tell anyone that. even though it's ten years from now, it is a full ten years, t and even i think even raising the medicaid age to 67 is not until 2034 or something. you know what, andrew? you're right. you're going to see grandma going over a cliff in a wheelchair and they're going to conflate what it actually is, with what the proposal is. >> in truth it's a more draconian version. i'm not saying we don't need the tough medicine but it is tougher medicine than what the other side suggests. >> on break you talked about peggy noonan saying you have to show it's saving the two. because the way they are now, they are unsustainable. >> peggy noonan was on "abc this week" yesterday. she said it can't be about reducing services. it has to be about saving the system. >> it's unsustainable. >> but it's hard to frame it that way given how polarizing the issue is and it's not just, by the way, what you're doing, it's how you're doing it as well. >> it will be demagogue. david walker, once again go back to david walker, what he told us on friday, 10 million a minute added. we're at $17 trillion in normal debt but add in all of the things that we owe, promised people, overpromised people at $50 trillion, we don't have it. we're never going to have it. >> we have other guest we have to bring on. george will stay with us for the rest of the morning. >> george bush. >> we can call him p. all' want but -- it's cool. our next guest knows vice presidential candidate paul ryan very well, he was a roommate of ryan's when the two were congressmen, senator pat toomey, we thank you for joining us this morning, roomie, we can call you the roomie. >> okay. >> you are, senator, if i could say it, in the center, a lot of people would suggest that you are a moderate, so i'm curious, where do you think of paul ryan in the spectrum? >> well, i actually am pretty universally considered a conservative. >> no, but he's, surprisingly moderate conservative. >> really? >> there was a piece i don't think you'd be happy written in the "philadelphia" magazine written about you. >> it's a great piece. i welcome the fact that people have noticed that i'm trying to make progress in washington. i'll reach across the aisle when i examine. i want to move the ball down the field on fiscal matters, tried to do that on the super committee, tried to do that with legislation, whether it's banking committee or commerce and every once in a while we've mangled to get something done modestly, mostly we're failing at dealing with the big issues. the thing about paul ryan is he understands the source of prosperity in this country, the source of the greatness of this country, has a vision for america's continued success, and ever greater opportunity, rather than this president, who i think all the evidence is that he's quite content to preside over an america in decline, so the contrast is very stark. paul ryan, i couldn't be happier about this choice. he's a terrific choice for mitt romney, more importantly a great choice for america. >> senator, here is the question. when you think about a bipartisan world where people ultimately have to come together and get to the middle in some way or another, is he a compromiser? i put out two ideas. one is obviously he voted against simpson-bowles and we've talked about what that's about and he also has signed the grover norquist pledge which makes it harder to compromise on the biggest issue for democrats. >> the vast majority of americans don't think we need to raise taxes. look what paul ryan has done with medicare, sat down with alex rivlin and came up with something to sustain medicare. the president said it won't be able to sustain itself no matter how much you save taxes. >> it's the same plan from 1999 bill clinton's commission with democratic senator like bob kurry and another came one the same system. >> and ron widen as a democrat in the senator and paul ryan sat down with alex rivlin and ron widen and how do we do something that makes sense on your side? he's already demonstrated he can work with the other side. >> we'll have someone on that says it's a return to trickle-down. how do you answer that? to me, if you assume the most productive and successful side of this society, that you really don't want that being successful, you're hoping that if you grow the more productive part of society that jobs are added, but if you just make an assumption that you don't want the most productive part doing well, what does that leave if there's no trickle-down, what does that leave? failing up? >> that's just a complete mischaracterization, of course, and it's a pretty futile attempt on the other side's part i think. this part said several years ago when a candidate can't run on his own record,' tacks the character of his opponent and makes the campaign about small things and that's exactly what president obama is doing. what this shows is this campaign is going to be about big things, about how america remains a preeminent country in the world with a strong country based on a free enterprise system. >> you're in the club for growth, the moderate pact to him. >> he's closer to the middle than some others. 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>> not in the zip car. >> rented a car. >> in my parents' car but i filled it up, 96th street on the east side. >> is it a hybrid, a prius? >> it is not, made by -- let's not get into brands on the broadcast. it is a japanese brand but could have been manufactured in the united states in kentucky. >> you're going to hang your hat on that. >> i'm not sure. >> you drove? >> i drove. >> oh, god, i'm glad i was off the highway. >> the kids were in the back, my wife was on the side. >> it's not a stick. >> it was not a stick. it was not a stick. >> and you went out to the hamptons? >> we did, in all of that traffic. it was a parking lot. >> why did they only build one road to go out there, do you know? >> that's the question i ask any time i go out. >> and the true one percenters don't take that road, they, you know -- >> my copter was in the shop this weekend. >> do not get into chop we are maintenance problems. the choice of congressman paul ryan is mitt romney's running mate puts budget and deficit issues front and center. >> we're trying to put pressure on fixing the fiscal cliff and the president has chosen more class warfare, the politics of division and distraction. he has a terrible economic record. poverty rates at an all-time high, it's a record he can't run on so he's distracting the country in order to try to win this election and we want to call him out on it and say there's a better way forward. we have better ideas on health care, better ideas on taxes, on debt reduction, on growing the economy. >> let's get reaction from the democratic side of the aisle, congressman chris van hollen, an eloquent spokesman for that side of things, i worry about when he comes on, ranking member of the house budget committee, joins us from washington. you know congressman ryan pretty well, don't you, chris? >> i do. >> you probably like him, right in. >> i do like paul ryan, we get along very well personally and's a congenial guy and in the budget committee we've had very sharp debates but they've been civil debates, it's the kind of debate i hope we'll have in this country going forward. >> when i looked at some of your comments over the weekend, you did an interview with "the hill" it has to do with i think kind of the, i don't want to call it class warfare but a lot of what you see in congressman ryan's budget has to do with trick trickle-drotrickle trickle-down and cut taxes for rich people at the expense of the middle class. have i got that right? >> that's exactly right. it's a blueprint for that. paul is the sort of ideological architect of that budget document. for the house republicans and republican party. >> you saw his life story and i know governor romney has got hundreds of millions of dollars, his father died when he was 16, six-term congressman, thaall th public service is trying to line the pockets of rich people to what end? you really don't think he wants to try to make it easier for businesses and productive people to succeed? >> i didn't say that paul doesn't believe in what he's saying. he does passionately. i just think that the evidence proves that that's the wrong way to go. look, as you know, we tried trickle down economics for the eight years in the bush administration. we've seen that movie, at the end of the movie you had millions of people out of work if you contrast that with the clinton years when we had a balanced approach to deficits and to the economy, you actually saw 20 million jobs created so i don't question paul's, that his integrity in this argument, but it is just doesn't square with the reality on the ground. >> i was trying to figure that out, too, how to answer the charges of trickle-down and even with president clinton, it seems like he still wanted businesses to succeed, because if businesses don't succeed, then there's no jobs for people. it's hard for me to understand how to grow the middle class and make the middle class prosper if you don't, i mean i hate calling it trickle down but the people, the productive people the corporations that make up the economy, they need to do well. >> of course they do. come on, this is a silly argument. >> it sounds like you want to fail up, not a trickle down. you don't want the people to make 250, that all of us meet at 50. we want the 50 to go up to the 250. >> look, america needs to grow. the economy needs to grow, as part of that effort you need to have a balanced long-term plan. that's why simpson-bowles, rivlin-dominici said you need to address the deficit through a long-term combination of cuts and we cut more than $1 trillion as part of the budget control act, and they also point out you need to deal with the revenue side of the equation and if you look at the ryan budget, he provides big tax breaks to folks on the very top, right? roe "roll call" did an independent analysis that showed under the road map plan, mitt romney's tax burden would drop to 1%. who pays for that over the long run? the real sit, under the ryan budget, everybody else gets hit really hard because of that. >> simpson-bowles goes down a similar overall rate by getting rid of all the exemptions, too. you like simpson-bowles, right? that would lower marginal rates, too. >> i like the framework of simpson-bowles but let's be really clear, simpson-bowles significantly increases revenues as part of a balanced approach to getting deficit reduction, in fact simpson-bowles assumes from the start that we will get rid of the bush tax cuts for the top 2%. that's their baseline, that's their foundation, and so what the ryan plan proposes is very different from the simpson-bowles approach, in fact, erskine bowles wrote the obama plan, the president's plan is closer to the balanced approach than the plan that the republicans and romney have taken. so the reality is, we have a choice about whether we want to go back to sort of a failed strategy and by the way, paul did vote for all the deficit increases during those bush years, those eight years, whether we go back to that kind of strategy or whether we try and grow the economy from the middle out, look, the president, as you know, has proposed extending the tax relief for the vast majority of the american people, 98% of the american people and even folks who make $1 million get a tax cut on their first 250,000. we can't afford not long-term additional tax breaks to folks at the very top because it does come at the expense of everyone and everything else if you're serious will long-term deficit. >> congressman, this is george p. bush, the unemployment rate on average was in the mid 5% in the last 42 months, unemployment rate of over 8% under the current administration. you made an aleutian to the clinton administration in the surpluses that we had, we also had a republican house and republican senate. so let's assume for a second president obama does get reelected, can you reassure small business owners, entrepreneurs, decision makers in business that the democratic house agenda can move forward with pro growth policies to get us back on track? >> absolutely and if you look at what the president has done, as you know, he did inherit a very difficult economy. i think republicans acknowledge that fact. we are a lot better off today than we were when he was sworn in. we have a long way to go, but you mention your uncle. i salute your father, the governor, who when he was asked by the budget committee whether he would take a deal that had a balance of revenue and cuts, he said yes. i mean he said he'd take $10 in cuts to $1 in revenue whereas mitt romney got up there and said no, mitt romney doesn't want to see his tax burden go up in any way, even if it's necessary to help take care of the long-term deficit challenge in a balanced way. >> there's someone for everyone, in p.'s family. if you don't like 43, you like 41, you might like jeb. lauren bush very nice person, very, very nice and the two daughters. >> but seriously -- >> who doesn't like barbara, the mother? who doesn't like her? do you know anyone? huh? >> no, she's got a great program in terms of trying to encourage literacy and reading. >> laura. >> i'm sorry. i misheard you, okay. >> we got to run. >> oh, we do. >> unfortunately. >> congressman, thank you. you're a great spokesman for your side and we appreciate you coming on today. >> i imagine if i asked a question you would suggest we were in cahoots. coming up next paul ryan -- >> i wouldn't suggest, i think people know that. the new vice presidential candidate hits the ground running and how the romney campaign is using the web to drum up donations. we'll talk about all that when we return. >> we believe in american entrepreneurialism and free market economics, limited government and believe we ought to have a safety net that's there for people who cannot help themselves and there for people down on their luck to help them get back on their feet. we want upper mobility and economic growth, that's what our budget seeks to do. it looked really strong. tdd#: 1-800-345-2550 and i jumped right on it. tdd#: 1-800-345-2550 since i've switched to charles schwab... tdd#: 1-800-345-2550 ...i've been finding opportunities like this tdd#: 1-800-345-2550 a lot more easily. tdd#: 1-800-345-2550 like today, tdd#: 1-800-345-2550 i was using their streetsmart edge trading platform tdd#: 1-800-345-2550 and i saw a double bottom form. tdd#: 1-800-345-2550 so i called one of their trading specialists tdd#: 1-800-345-2550 and i bounced a few ideas off of him. tdd#: 1-800-345-2550 they're always there for me. tdd#: 1-800-345-2550 and i've got tools that let me customize my charts tdd#: 1-800-345-2550 and search for patterns as they happen. tdd#: 1-800-345-2550 plus webinars, live workshops, research. tdd#: 1-800-345-2550 whatever i need. tdd#: 1-800-345-2550 so when that double bottom showed up, tdd#: 1-800-345-2550 i was ready to make my move. tdd#: 1-800-345-2550 all for $8.95 a trade. tdd#: 1-800-345-2550 can you believe it? 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anything? he's a hunter with crossbows and stuff, but is he the kind of guy, i just can't imagine he's tweeting, you know -- he just seems like a guy that you vet but you're not really expecting to come up with too many negative things. don't you think he's kind of a straight hooter, president of his class? >> straight shooter, 6% to 8% body fat is what i read. i've been trying to get joe to do p90x with me. >> the p what? >> p90x, the infomercials, one of these get your abs ripped up and all of these. >> if my abs get any more ripped i'm going to hurt myself, they're ripping apart right now. let's go. >> our disruptor series continues and turns to a hot election topic, fund-raising. tom is a fund-raising fighter. also with us, staying on the set throughout the show, guest host george p. bush. thank you for joining thus morning. >> thank you. >> so how much money on a single basis can somebody donate online through your site? >> on a transaction level? >> on a transaction level. >> over $100,000. >> over $100,000 for a superpack i'm assuming. you can't donate directly. how much overall money have you raised thus far for the romney campaign? can you say? >> we actually can't say. >> you can't say? >> we can't disclose that information. >> is this a bipartisan platform? >> it is a bi. >> is obama using your peculiarity form. >> he is not using our platform. he already has his tag team in place and we primarily focus on servicing the long tail causes so individuals that are running for state representative, pastors trying to save their church from foreclosure, individuals trying to pay off their medical bills that's really our primary target base. >> how many people are using the service right now? >> over 15,000 organizations. >> how many people have donated money through the plan? >> millions and millions of people. >> and how does your platform distinguish itself from a number of competitors that are out there in. >> sure, well you know we really focus on being a storytelling platform first and foremost. we believe that a cause is a true product and stories communicate value and people contribute to organizations on the basis of values. >> have you seen an increase of money since the paul ryan joined the ticket in. >> quite a significant increase. >> can you give us a percentage? >> i can't unfortunately. >> do you see a time when all of this moves online, meaning instead of having the $33,000 plate dinner that somehow you're able to create an online experience that people pay for? >> you know it's actually already moving online. we do plenty of dinners especially even the $33,000 per ticket dinners as well, too. >> what's the future of this? what do you do with this company ultimately? >> my goal is to empower hundreds of millions of people around the world to raise money for things i care about. >> is this something you try to sell to a facebook, a google, something that runs as an independent entity, is this something that has an ipo, is there an investor side of this business? >> there is, i'm sure, down the road, at some point, when we get there. >> okay. thank you for coming in this morning. >> thank you. >> appreciate it. coming up, we'll get some more reaction to ryan as the vice presidential pick from scott walker, the republican governor of ryan's home state, he's going to join us at the bottom of the hour. time now for today's aflac trivia question. who sent the first ever tweet? 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[ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? now the answer to today's aflac trivia question. who sent the first ever tweet? the answer? twitter founder jack dorsey. >> aflac! >> you would have guessed that. >> right. who made the first phone call? welcome back, we are speaking to -- >> alexander graham bell made the first phone call? >> we'll ask that question tomorrow. >> it was so long ago. say he did. speaking to george p. bush, founding parter at st. augustine partners, national co-chair of maverick pack and what i can't imagine is with what you've seen in politics that you'd still be interested and i'll tell what you i'm getting to on this, one of the things that i think the selection of paul ryan does bring into the equation, and you've made the point again and again today, andrew, if you had any doubts about where mitt romney stood in terms of center right or left, this does focus it on smaller government and taking away things, at least people will perceive you're taking things away from them in terms of all the promises we've made that we can't keep a lot of the entitlements we made, and we have david walker saying you need to tell people the truth. we have paul ryan saying you need to tell people the truth and you need to not worry about your next election. you need to worry about leadership. that doesn't work very well, unfortunately, in today's politics, and nice guys finish last, people that tell the truth don't get reelected to do the things that they want to do. can this turn out, are the american people ready to hear the truth about what we need to do? >> i think they are. >> you think they can win this election? >> i think they do. lot of people especially in my generation think they're more likely to see a ufo an a social security check. if we don't start with entitlement reform, which represents 60% of all federal budget spending that we could very well lose our track to prosperity. and so paul ryan is the intellectual heavyweight and he excites younger americans because they finally have somebody who is telling the truth. >> you don't want to take people, take the punch away or empty the punch bowl from people that are bingeing at the punch bowl. it's hard to tell people to cut down. >> this may ultimately get framed up as austerity. >> right. >> also we've seen what's happened in europe. >> what caused austerity they're under right now? we don't have it yet. we can prevent it. >> some people would argue that what he's pushing for is a form of austerity and you'll see the democrats frame it up that way. >> they'll make that attempt but there's a better ingargument to made small changes now implemented with consensus. >> the small change is the real issue because medicare and medicaid are not going to look remotely the same anymore so it's hard to argue it's a small change. what he's arguing is something else. >> it's ten years away, number one, and gives you the option to have a private account. the old medicare system stays in place. >> it's indexed also to income as well, so very wealthy taxpayer basically would receive almost no benefits. >> that's the sad thing. >> you know people say privatizing social security for example which is something he has said he wants to do is something that is the third rail for a lot of people, both democrats and some republicans as well. >> it happened to your uncle. >> if you have comments, questions about anything you see here on "squawk" including paul ryan's add to the ticket, shoot us an e-mail and follow us on twitter @squawkcnbc is our handle. still to come we have more from guest host george p. bush and later the issues that matter to your money. congressman paul ryan appearing many times on "squawk box" talking about the budget, health care and the markets. we're going to discuss his impact on the race for its white house. senator bob corker is going to be here with his thoughts on the ryan pick. 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[ male announcer ] the all new 37 mpg highway chevy malibu eco. from conserving fuel, to the technology that makes it happen. frochevy runs deep.l, welcome back to "squawk box" this morning. let's get you through some of the headlines. investors are going to be getting their first chance this morning to react to the choice of congressman paul ryan as mitt romney's running mate. ryan will be campaigning in iowa today, while romney is in florida. and swiss bank julius baer is buying non-u.s. private bank. it's boosting baer's asset management by 40%. barnes & noble cutting the price of the nook reader model for $20, this is for joe, the eight gigabyte nook will sell for $179, $20 less than amazon's kindle fire. mr. kernen, do you have either of these devices? >> uhm, no. no, no. you know, iphone is going to be my first thing. is there another one coming out soon? >> in september, september 12th ishe date, so we can wait online together perhaps. >> and we can get it so that we get our corporate stuff on it? >> that, too, yes, you can get your "squawk" e-mail there. >> i'll make a pledge but i'm going to need your help. >> can we stay out overnight and get a tent outside of one of the apple stores? >> maybe we can do that. >> host the show from outside. >> this whole thing together of us together for the past week has been a real meeting of the, you know -- >> yes. >> it's a bromance. >> a true bromance. >> in fact, feel come back. i feel you're not here right now. >> i'll come back. >> congressman paul ryan has been a frequent guest on "squawk box" over the past several years. in april he defended his budget plan vigorously on the show. >> i think it's wise to be honest with the american people about the problems we have ahead of us. the right thing to do is show leadership, put solutions on the table to avert a debt crisis. with the debt crisis the first and the worst that get hit are the poor and the elderly. they need government its the most. the president has chosen to punt, not to lead on this most pressing issue of our generation, wait for republicans to offer their plan, then attack. >> it would have been great to get him on today. i'm going to ask a question and pretend he's here because we keep running all the sound bites we have you know and just ask it and let him go on and say, thank you, congressman ryan, really. >> and it would work. >> is that legal? probably not. this next guy actually is here, had the honor of guest hosting "squawk box" once, a couple times, wisconsin governor scott walker, who grew up in the same area as congressman ryan, joins us from milwaukee. governor, it's good to see you. >> good to be with you guys. it's a great day for wisconsin but i think a greater day for america, because paul ryan will be a great vice president. >> we worry in the media, and we're going to always point out the negatives if we can, in any way possible, governor. i'm going to do that right now. you tried to do what i would call some of the things you did were almost incremental in taking away certain benefits that public employees had, and i think even after a lot of the things you did, they still pay less into their pension plan than private employees. they still pay less for health care than private employees. and look what happened to you when you tried to take something away and when you told the truth. the entire left galvanized around the country and had demonstrations and i don't know what, i shudder to think what you had to go through after all that. same thing is going to happen here, when you try to do something like that. >> well you're absolutely right but the rest of the story as paul harvey would say, all that happened and what happened june 5th? we had an election, more people turned out than two years ago, i got a higher percentage than two years ago, i got more votes than two years ago, as paul ryan said repeatedly when i was running, courage was on the ballot and i think it proved that courageous leadership, not just here in wisconsin but having people like mitt romney and paul ryan willing to tell the voters the truth, willing to tell them what to do take on the economic and fiscal crisis you're right, there will be pushback. we saw it here clearly but that's what voters expect, they want us to think more about the next generation than just the next election. >> that's what we've been talking about all morning and what you saw paul ryan say on his speech and "60 minutes" voters want to be told the truth. at the same time both parties demagogue the truth so you need to find the truth and a lot of times people aren't following it close enough to know where the truth is and it is get distorted and dissembled and there is he aa l there's a lot between now and november. this was a bold pick, as andrew pointed out a lot of risk for people in the middle, for independents. >> it is, but in wisconsin, paul ryan great example. people forget this because he's very well-known but paul ryan is in the first conessional district, an area i grew up in, a small town 15, 20 miles down the road from paul, in ja janesville, which is a blue collar working town. it is one of the competitive congressional districts in america. for years, not just the last year or two, he talked about and run on his road map for america and even in a district that's filled with urban, rural and suburban voters that's almost evenly split between republican and democrat every year up for re-election, got more than 60% because people want the truth. >> the president won his district handily and ryan still got elected in the same year with above 60%, and that's like the bluest of blue states. i don't know how you're still sitting there. you've had to be elected twice. >> twice in the same term but i think it was a good example that if you do stick your neck out, in our case we couldn't win without republicans, excuse me, with just republicans, with he had to have independents and some discerning democrats. i think that's what paul ryan appeals to. he energizes the base because he's bold but by the same token appeals to swing voters because he's got a message of truth, a message that i think most voters in this country are ready for, they want people to stand up and make the tough decisions. what you're going to see and saw it in the last two days, a couple things. first and foremost, mitt romney will be the one who is president who drives the budget and decisions. paul ryan will be an ally in moving it forward. it's not the ryan plan, it's going to be the rohment know plan and he's got a plan to move our country forward but secondly, even in the things that they pointed out about the ryan budget plan, the misstatements, you see the left who just doesn't want to talk about the president's record, because it is a failed record, instead trying to distort it. under paul ryan's plan if you're a senior near retirement, you're not going to be touched by anything he's talked about. that's the distortion they're trying to scare people, like my parents, like my aunt and uncle, other people out there, they're not going to be touched by this, anyone over the age of 55 wouldn't be touched and that's just under paul rye yab's plan introduced. mitt romney has a protect medicare, a plan to move forward and get past, unlike the plans of this president that failed even in his own controlled united states senate controlled by his own party. that's the difference, paul ryan, march march, will get things done. >> good morning, governor, this is george p. bush. i thank you for your leadership in the great state of wisconsin. >> hey, george. >> i think we have to go back to reagan to find a republican presidential candidate that won the state of wisconsin n light of your election and the recall you have a better viewpoint in terms of a boots on the ground perspective on wisconsin. do you think this ticket and paul ryan's addition could very well put wisconsin in the red column? >> absolutely. in fact, after my election in june, i said at that point even without paul on the ticket, i thought mitt romney had a chance, last time was 1984, when i thought our election showed people were willing to listen to leaders who were willing to be bold, and now, george, more than ever, with paul ryan on the ticket, people forget, as i mentioned, paul's district is very, very competitive. he eats into tote vote totals and rock in kenosha counties, where president obama did very well four years ago, that alone in a state when your uncle was up in 2000 and 2004 the closest blue state in america, 2.5 million votes and just a couple decided it, paul ryan being on the ticket could make that difference in wisconsin which could make the difference in the presidency. >> nate silver put together a column over the weekend, the fellow who does a lot of the numbers and crunches the stats and says that paul ryan is one of the most extreme, i think he said the most extreme person to ever be put on the ticket in terms of being either extreme on the conservative end or frankly even extreme on the liberal end. do you buy that? >> no, i think in the end, again, before paul was elected, for two terms there was a republican congressman who had similar views who got elected by under 51% in both elections, even after the '94 and '96 elections, even after the contract with america, paul ryan at age 27 when he was elected 28 when he took office was elected essentially on the same idea as with 57% of the vote and every year thereafter he's won with more than 60% of the vote. i think what people want more than anything isn't just republican or democrat leadership. they just want leadership. that's what mitt romney and now paul ryan bring to the ticket, that's what's been horribly lacking under barack obama and joe biden. there is no leadership. they defer to congress, don't get things done. people four years ago who thought they were getting bill clinton and barack obama had been horriblebally disappointed and that's what romney and ryan brings. >> governor walker, thank you. up next can paul ryan win over mom and pop? vice presidential candidate ryan here on "squawk box" talking about leadership, as we head to break. >> where i come from, in a very swing area, in america, in wisconsin, people want to be talked to like adults, they want the facts, the truth, they want ideas and solutions. they don't want to be pandered to like children so i really don't think that strategy of punting and attacking is going to work at the end of the day, and also, we have an obligation, a moral responsibility to actually, if we see a problem, fix it. i mean isn't that why we're elected in the first place? ♪ [ male announcer ] aggressive styling. a more fuel-efficient turbocharged engine. and a completely redesigned interior. the 2012 c-class with over 2,000 refinements. it's amazing...inside and out. ♪ join mercedes-benz usa on facebook for the best summer sweepstakes. join mercedes-benz usa on facebook it's something you're born with. and inspires the things you choose to do. you do what you do... because it matters. at hp we don't just believe in the power of technology. we believe in the power of people when technology works for you. to dream. to create. to work. if you're going to do something. make it matter. 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[ hikers laughing, commenting ] at&t introduces the htc one x. now $99.99. rethink possible. why not take a day to. explore your own backyard? with two times the points on travel, you may find yourself asking why not, a lot. chase sapphire preferred. there's more to enjoy. let's get some small business reaction to the paul ryan pick. nina vacca, chairman and ceo of pinnacle technical resources, chair of the u.s. hispanic chamber of commerce, on the board of kohl's, and this speaks to you, doesn't it, andrew? >> absolutely. >> comerica and start up america chaired by steve case. our guest host george p. bush. >> if you take out the p. sounds like we have george w. on the set. >> yes. ryan i'll toss to him and act like he's here and we'll have more with george -- this george bush, i'm glad to have this george bush. nina, so 1996 is when you founded this company, and it's a huge deal at this point? >> it's been 16 years and one of the fastest growing companies in the country, seven years in our country we're proud of that. >> how many employees now? >> over 4,000 people in north america, the united states and canada and made an acquisition of probate a software as a service tool that managing contingent labor in billions of dollars to spend now so we're truly global. >> not everyone knows what the company does, a staffing vendor management and information technology company. >> we're in the ever growing industry of providing i.t. temporary labor to the fortune 500, which by the way the united states hit an all-time high for i.t. workers for the united states for the sixth month in a row. >> so in, i'll let you ask this question, could you do it, do you want to ask your normal question? >> you go for the question. normal question. >> in today's environment we've asked great entrepreneurs whether they did in '96, could you do it again today? most say it might be difficult. could you start from scratch? >> entrepreneurs are persistent, and continue to be persistent, i think entrepreneurs can grow in any environment. the question is what environment helps them grow and move them along quicker. certainly in 1996 when i started, i really had the tailwind behind me. it was the height of the dot-comera, corporations were moving away from the mainframe, on to the unix environment and i.t. at an all-time high in terms of resources. that trend continues a little bit today. i.t. resources are in -- i.t. unemployment is about half of our general unemployment and will continue to grow. >> you wouldn't say that government head winds are the -- you said would help in '96 you had the dot-comtailwind behind you. >> absolutely. >> is it harder because of tax policy, regulations or obama care or any of those things? >> there's no question every single thing you talked about played a role, access to camel ta, the softening of the economy, the regulation, the taxation, all that is a challenge for all entrepreneurs. >> temporary workers, that's been a boon for your business in many ways. >> um-hum. >> some people would argue the reason that there has been so much push towards temporary workers has been a function of government. how do you think about those two issues in relation to your own business? >> you know, you're right. i believe that the temp -- i believe that corporations have gotten more comfortable with the idea of temporary labor in all facets. >> some people would argue, we've had so many ceos say there's so much unsnernt this world we can't hire people. what do they do? >> go to temporary workers. >> is this a good thing or a bad thing? >> well it's a good thing for our industry because it continues to grow. >> right. >> but is it a good thing for the country? >> you know, one could see it both ways. this is an intelligent argument that you can see it both ways but the information technology sector will continue to grow regardless. in the staffing industry, we specialize in i.t., that's going to continue to grow, continue to double down. now, i think that you're right, while the i.t. continues to grow, the other parts of staffing may continue to be outsourced which is not good, out of our country, particularly in low wage jobs. >> the flipside is some people could argue frankly this is a flexibility of labor and that say good thing for business. you had a question in. >> as a fellow texan, nina, i was curious if you could speak to the hispanic growth story, we are a majority minority state and we'll be majority hispanic in less than ten years, being a successful latina entrepreneur, could you speak to this phenomenal growth story in our great state? >> there's no question the hispanic community continues to grow. we're responsible for 50% of the growth in population in the last decade. you've heard every stat stick out there. my favorite statistic f you're not related to a hispanic, you soon will be. in the context of small business you see hispanic small business growing at twice the rate and it's doing so by mere population, near the growth of the population and i think you'll see hispanics rise to the occasion of leadership in all facets in our country, not only in politics, not only in non-profits but you're also going to see them and they have continued to do so in entrepreneurship. >> and texas is probably not a bad state to be doing that. >> texas and florida are duking it out for the home of the largest hispanic businesses in the country at the united states hispanic chamber of commerce, we measure the fastest growing and the largest and texas ranks among the first. >> nina, we love your spunk. thank you for joining thus morning. coming up, senator bob corker on paul ryan's path to prosperity. here's vice presidential candidate paul ryan on dodd-frank. >> i think that's what dodd-frank will do, it will consolidate the system to very large interconnected firms that have political connections, that makes it harder for those smaller firms to actually compete and survive, and i also worry about the standardization of credit. 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[ male announcer ] ...forbusiness.com. ♪ ha ha! we're back on "squawk." the gop ticket has been set and reaction of course is strong from both sides of the aisle. senator bob corker joins us now and good morning to you, senator. >> good morning, guys. >> senator, just curious, initial reaction when you first heard the name, surprise, expected, what do you think? >> i was reading papers from around the country seeing what was happening around the world early saturday morning, i had the television on, no volume and i saw a trailer that said paul ryan, i literally came about three feet off the floor from a sitting position, i'm a little sore, as a matter of fact, but i am so excited and i think this really cements a real choice for america. paul ryan is an outstanding choice. i really think now we're going to have a race where we talk about the real issues of our country instead of all this silly nonsensical stuff that doesn't matter so i'm very excited. >> clearly this is going to be an election about big issues but my question then becomes when people talk about bipartisan in the middle and the independence and the 8% swing vote that one side or another needs, does this help the cause or does this hurt the cause in terms of being polarizing, because virtually every paper will argue that he is more extreme than a portman or a pawlenty. >> so i know paul ryan and i have never, ever heard him make a partisan comment. i mean, this is a guy who is trying to solve our nation's problems, and you know there's been a lot said about paul ryan's budget, but there's been almost nothing said about president obama's budget, and paul ryan's budget received a lot of votes, president obama's budget received no votes, not a single democrat, so -- >> senator you can't argue he's not partisan. >> no, i mean he is a guy that is constantly reaching out and trying to solve problems. i mean he's a happy warrior. he's somebody who embraces. i've seen him do it -- >> he signed the grover norquist pledge, you talk about compromise and getting to the middle, this becomes harder. >> well, you know, i just don't see that. i think we have a serious person. if you look, you might -- your listening audience is an intelligent group of people and if you look at the paul ryan budget that's been laid out and i know governor romney is going to change that some and produce his own soon, but if your audience was interviewing two people for president, or vice president, and they looked at ryan's budget, it's a serious document that tries to solve our nation's problems. if you look at president obama's budget, it's not even a serious document. one of the most depressing meetings i had recently is sitting down with a presidential historian in the senate dining room three weeks ago and if you look back at history, the big issues of our nation have only been solved through presidential leadership, and to sit there at that time and realize there's a 50/50 chance that we could have four more years without any presidential leadership, on the biggest issue our nation faces, that is depressing, and what paul ryan and mitt romney now laying out a clear choice, so that we know we have two people that are serious about solving the biggest issue that our nation has, that is something that creates optimism, and i think they're going to win. i am more excited about this race than i have ever been. >> senator, you look over in europe and see parties that run on austerity, taking things away from people, taking, less government involvement in their lives, and the record's not really that great in terms of what people finally decide to do, and you think americans are different here? you think they'll look, go in the voting booth and know it could affect them personally in terms of what they get from the government? you expect them to do the right thing? that's the biggest risk here, the biggest risk is telling the truth, that's unsustainable, and that you need, you can't have everything you want. >> so we have a ticket that will tell the truth. we have a ticket that is in make believe land. >> i want the make believe ticket, i want to bury my head like an ostrich. >> let me lay out this one stat. the average two-working family in america pays in over medicare $119,000 in today's dollars. that same family in today's dollars takes out of medicare over their lifetime $357,000. now, it just doesn't work. >> senator -- >> the fact is that paul ryan's budget doesn't take anything away from folks. what it does it gives them a choice. he negotiated talking about compromise, with a very liberal democrat and came up with a plan, so it's about laying out solutions. >> senator, quickly on the map and i agree with you on medicare, something has to be done, the question is effecti effectively how would you do it and that is one of the big questions of this election and the second piece that's very important is ultimately he has a tax plan and some people would argue that that math doesn't necessarily add. i just suggest it's not a clear-cut answer. >> look the fact is that they're going to have to pass something, and they've laid out a path. there will be negotiations but at least they're showing leadership and i'm very excited about that. you all have a good day. >> senator, terrific to have you, thanks so much. coming up, will the markets react to the deployment of paul ryan running. we'll bring you that and much more. is . your money, your vote. he's done the "squawk" walk and now congressman paul ryan is running with romney. what have you got with anything, tell us now and get it out there. >> he has brooks brothers suits. >> i'm doing fine, i'm a good person. >> does this big decision mean a bull run to the election or does the pick leave the investor undecided? >> in the clouds. the ceo of rack space will tell us if this tech trend will make rain for investors. >> rain drops! and a titan of silicon valley rising early to join "squawk," the founder of sun microsystems, ask tscott mcknee will tell us where he sees rushing next. the third hour of "squawk box" starts now. ♪ >> welcome back to "squawk box." i'm joe kernen along with andrew ross sorkin. becky quick is off today. our guest host is george bush, george p. bush, son of former florida governor jeb bush, chairman of the national political action committee. your dad is overseas so he would have called in. >> absolutely. >> since you know him. >> i got an in. >> we've had him on before, he's always great when he comes on. checking u.s. equity futures this morning, they're flat basically. you can see up three points or so with the dow since the fair value is down, the futures are down 5, represents a move of 0.2%. >> how excited are you, joe? say it with enthusiasm. >> we always have to do that, show you that, in case one of these days we are going to have a big enough move to where you want to know on the percentage basis but many days we do not. let's talk about our top story this morning, mitt romney's pick of congressional congressman paul ryan as his running mate, we've been taking a look at the decision all morning, here are some of the highlights. >> paul ryan, i just couldn't be happier about this choice, he's a terrific choice for mitt romney and more importantly a great choice for america. >> i don't question paul's, that his integrity in this argument, but it is just doesn't square with the reality on the ground. >> he certainly energizes the base because he's bold but by the same token' peels to swing voters because he has a message of truth and a message i think most voters in this country are ready for, they want people to stand up and be willing to make the tough decision. >> with paul ryan and mitt romney laying out a clear choice, so that we know we have two people that are serious about solving the biggest issue that our nation has, that is something that creates optimism. >> and still ahead this hour, we're going to get a report from our own chief washington correspondent, john harwood and congressman tom price will join us, he's worked closely with paul ryan on the house ways and means committee. leaders want to coordinate a response after the worst u.s. drought in half a century devastated crops in the world's largest agricultural exporter. corn prices are higher than the 2007-2008 food crisis and that says a lot. president obama will begin a three-day tour in iowa today, he's going to be announcing that the department of agriculture intends to buy up to $170 million of pork, lamb, chicken and cat fish. the goal is to help support farmers suffering from the drought, iowa is a political swing state and paul ryan will also be in iowa today, visiting the iowa state fair in des moines this afternoon and mitt romney meantime is going to continue his bus tour, making stops in florida today. in our global headline this is morning, julius baer is buying merrill lynch's private bank, outside of the u.s., the swiss private bank will pay $882 million, the deal is set to boost its assets under management by 40%. japan's economy is slowing, growing at a slower than expected annualized rate of 1.4% in the second quarter, among the reasons, consumer spending moderated and exports were sluggish. for more on the romney-ryan ticket, let's get to cnbc's john harwood. you're in delaware. why are new dyou in delaware in >> reporter: i'm in delaware because the ocean is in delaware, this is bethany beach and you know, when a presidential candidate picks his vice president while you're on vacation, you got to adapt and adjust, which is why i'm wearing shorts and flip-flops below camera level right now. >> oh, oh, oh, we don't need to see that. we do not need to see that. >> you don't need to see that. but look -- >> at least you're wearing something. >> reporter: mitt romney jolted the presidential race with his choice of paul ryan over the weekend, a surprise choice of the haouse budget committee chairman. paul ryan immediately began to sound a note of reaganesque optimism. >> we can either stay on the current path that we are on, a nation in debt, a nation in doubt, a nation in despair, a nation with high unemployment, where we're giving our children a diminished future or we can change this thing and get this country back on the right track. >> now, of course, this is not the risk free choice that mitt romney could have made. there were other people, tim pawlenty, rob portman, who would have fit that bill but mitt romney explained over the weekend that he chose paul ryan because he wanted someone on his ticket who understands the nation's economic peril. >> paul ryan has become an intellectual leader of the republican party. he understands the fiscal challenges facing america, our exploding deficits and crushing debt and the fiscal catastrophe that awaits us if we don't change course. >> now let's talk about the paul ryan balance sheet, first of all, the assets. he fires up the republican base, conservative intellectuals especially love him. he has a likeable personality, he's a catholic, that's a key constituency. he's from the midwest, and the midwest may be a swing area in this election, but he's also got some potential liabilities. first of all he shifts the election from a referendum on president obama's stewardship on the economy to a forward-looking choice of different budget alternatives. that elevates medicare in the election, which will help president obama try to make an argument with senior citizens, with women, with blue collar voters especially in states with older voters like florida and iowa, so this clarifies choices for the american people and gives us the debate we've always wanted without the ducking and dodging you often get in presidential campaigns. >> a lot of people, john, in a lot of different ways to look at it but that referendum part was getting romney about 44%, 45%, and obama was stuck at 47%, 48%, with the ref -- which is no small feat, you the to hand it to him, they are keeping the subject on a lot of other issues, but 8.3% unemployment, being at 47 or 48 is i think a testament to his, the president's likability and personal characteristics, because they're certainly not looking at, you look right track, wrong track it's 33 points, and you're still at 47%, so maybe you want to make it something bigger, make it an alternative instead of just anybody but him. >> exactly right, and you know, the obama campaign and democrats have been pretty effective this summer at trying to jump ahead and define mitt romney in unfavorable ways. romney's unfavorables have been rising before his convention, and this is why they, why romney saw himself losing ground in the national race, behind in the battleground states so what he's hoping to do with this pick is shift the dynamic and again, in a base election, one in which both sides, the electorate is polarized, there's a small number of undecideds, juicing up your own base and getting them to turn out is a big asset, and this is one where it may happen on both sides. >> do you think, john, we're hearing about these crowds for romney now, can you actually in any way except for anecdotally you can tell whether there's more people? you assume there are and there are probably more fired up than they were last week i'm sure but that's only natural. they were with palin, too. >> certainly they are going to be fired up in the beginning, they're going to be fired up in paul ryan's home state of wisconsin but we're going to have to see the polling two, three, four weeks from now perhaps after both conventions, around labor day or just past labor day, then we can see whether the race has been changed in any fundamental way. >> john harwood, thank you. and you know, you're on vacation, but the news is the news. so thank you. i detected a hint of, i don't know, like you weren't that happy about it but you didn't mind doing this today, did you? you're our political correspondent, john, i mean -- >> reporter: joe, not only am i happy about being able to be part of this story from the beach, but as i walked to the restaurant last night, who did i see sitting on a table outside but kent conrad, the democratic chairman of the senate budget committee, who served with paul ryan on the simpson-bowles commission. he's going to join us in the 10:00 hour on "squawk on the street" and we're going to talk about the implications of this choice, so sometimes you get lucky when you're the at the beach. >> there you go. luck is the intersection of hard work and opportunity, john, that's what you do. thank you. >> reporter: boom! boom! >> that was good. >> it was very good. what's behind the market's steady rally and how will investors react to candidate romney's new running mate paul ryan? joining us is ed keon from quantitative associates and chuck gabriel, a political guy at capital alpha partners, president and managing director. ed, i think of you as purely a strategist for equities and chuck sort of does both so let me start with you. did you change any of your feelings about investing in the u.s. stock market based on the news over the weekend? >> no. we run asset allocation funds so we have been about 60%/40% stocks versus bonds, equal to our benchmark, slightly overweight but i wouldn't anticipate making any shifts today, based on this new news. >> all right, would you make shifts based on the way the election outcome starts to look as we get closer and closer? >> obviously the election is very important and this choice does make it a little clearer which way the country wants to go. your last guest as i listened to her talk she started her business in 1996 during the clinton administration, she grew it then, grew it during eight years of the bush administration and still growing it now. the strength of the united states is in its people, its institutions, its entrepreneurship and both parties, despite their differences want to support that basic underlying strength of the country. >> chuck, you buy that? >> i think ed ought to run for office. that was well said. >> really, i know. >> i worked with him, no less. joe, i think what's really interesting about this choice is that globally it is going to be seen as a question about perhaps austerity, even though the ryan budget is a path to prosperity budget, and even though republicans, it's clearer that how we'll go on these fiscal cliff issues if republicans win, the white house and the senate, you know, moving beyond that into debt ceiling and other debates early next year and looking at what is really viewed as a root canal paul ryan budget, this is going to be seen as a vote for austerity globally and i've had like large, really top bank analysts out there on the buy side say once we get through all these problems, you know, with the adverse credit situation, the libor scandal, you know the stocks aren't going to do any better because we're moving into an austerity cycle, that's going to be exacerbated by this choice, that kind of fear. >> should we wait? >> should we wait, you know, it will be interesting. the question is whether paul ryan helps romney to a ronald reagan moment where he gets that magic moment where he can be on stage and say there you go to obama or whether it's like '84, when you saw, you know, the vice president, excuse me, the democratic presidential candidate at that time, walter -- what's his name, walter -- >> i forgot his name, too, pretty forgettable. mondale. >> yeah, walter mondale at that time said, we are going to have to raise taxes. he didn't tell you, i just did, and then they lost 49 states so we'll see if, franklin, the democrats can metascare voters into thinking a vote for romney-ryan say vote to austerity and we could be talking about losing thes house. i don't think it's going to be that way and i think this is a great choice. >> bad move telling the truth, in most cases in politics. if you tell t you don't elected, you go home and don't legislate anything. >> yes. that's the way it works. >> that's kind of where we are. ed keon thank you. you running for, what are you running for? no, you're the strategist. >> i'm just running money. >> you're just running money and chuck gabriel, thanks. coming up moving your data to the cloud. the ceo of rack space will join us next, the stock getting a pop last week from positive earnings news. we'll ask the ceo about the future of cloud computing and regular "squawk" viewers are already familiar with mitt romney's running mate but we'll take an in-depth look with a representative who worked closely with him on the budget committee in congress. here's what congressman ryan had to say about the fiscal cliff last month on "squawk." >> we're trying to put pressure on fixing the fisca cliff the right way and unfortunately the president has chosen more of this envy and division, more of this class warfare, the politics of division and distraction, because he has a terrible economic record. you saw the latest jobs reports, poverty rates at an all-time high, it's a record he can't run on so he's distracting the country in order to try and win this election, and we want to call him out on it and say there's a better way forward. we have better ideas on health care, better ideas on taxes, on debt reduction, on growing the economy. platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime... tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 trade at charles schwab for $8.95 a trade. tdd#: 1-800-345-2550 open an account and trade up to tdd#: 1-800-345-2550 6 months commission-free online equity trading tdd#: 1-800-345-2550 with a $50,000 deposit. tdd#: 1-800-345-2550 call 1-800-836-8799. good morning, we're back. with more and more companies pushing to the cloud the sky is the limit for this new way of computing, landham napeur, ceo of rack space, joins us now and our guest host all morning has been george p.w. bush. good morning to you. >> p.w.? >> did i throw a w. in there? i called him george p.w. >> p.w. is not a good thing to call someone, andrew, if their name is not w. >> i apologize. >> no worries. we don't know whether he is or not. let's talk cloud computing. your stock is up, you had broad earnings last week. what are you laughing at over there? you got something else going on? >> no. you call him p.w., go on. >> i know, i'm sorry. my question is when you think about expanding into all sorts of other markets, there's been huge growth in the u.s. and i imagine that will continue at some level. i assume the big markets are asia and the big markets are europe. europe is a little -- but asia specifically, security, china, is that a market that's going to work ultimately? >> i think it will. in our business today we serve a couple hundred thousand customers so it's europe, asia pac. i was in europe the last couple of weeks seeing out where to invest. asia pac the deck graphics are good. i think the security gets managed. there are issues around the firewall in china and whatnot and how you'll manage that but those things will get solved because demand is huge. >> you'll do business in china? >> yes. >> you're not worried. google -- >> google has had problems. >> why are you convinced that's not an issue? >> right now we're in hong kong, we have lots of demand in australia, an office in sydney, looking across the subcontinent as well. i think business will continue to grow. >> we had a fellow on last week from "wired" magazine talking about security who had his iphone, mac laptop, gmail account, all hacked and all of his life was effectively in the cloud. >> right. >> it was remarkable, and the hackers took advantage of amazon and apple security. how big of an issue long-term is this going to be for the country, for the world? for users? >> what we are discovering is the dependence we all have on the systems. these systems really matter, so when people talk about password rotation, you need to do it. don't keep it in that drawer you open in the desk and your child's name. >> you have a crazy password? >> i do, can't tell you, it's classified, super important to rotate passwords and be on top of that, because everyone wants to use some per mumutation of tr name, wife's birthday, easily fished discovered. >> i never change my password and that's my problem. >> i have a lot of them. i only change them when i forget them which is frequently, they have to e-mail me with what it is, oh, yeah, that's right. i can't figure them out, i figure no one else can. >> i don't know if that's a good bet. i don't think that's how it works. >> when you think about your business relative to what amazon is doing, they're effectively in this space, others are in this space. what is the differentiator for what you do compared to everybody else right now? >> for us it's about fanatical support. we're the entrepreneurial company slugging it out about w big companies. rackspace versus amazon, rackspace versus google and rackspace versus microsoft, they are general is and we are specialists. this is all we do. number two, they use closed proprietary technologies. we use open source technologies. number three they're playing a scale game and we are plague a service game. >> why don't you get taken out? >> what do you mean, taken out? >> one of these companies says you know what? you guys are doing great, why should you be in the mix? let's do business with you on our own. >> sure, people love to speculate about that. >> all the time. i come from mergers and your name comes up constantly. how do you think about mergers right now. >> we don't want to. we're trying to build something great. building something great takes years and years and years. we're only 13 years into this, we want to keep building. cloud is in its early days. because the other companies won the first couple iterations of tech doesn't mean they'll necessarily win cloud. >> if i could bring it back to the states, lanham and thank you again for joining us this morning. what i find very curious about the origin of your company is that one of your original investors insisted upon you moving to lifornia, and i think in a past conversation you had mentioned that you wanted to stay in texas for certain reasons. can you share with us this morning about some of the advantages of doing business in texas? >> sure, we were pressured early on from our silicon valley investors and they're great investors, that we had to move the company to california. they wanted to do it for talent purposes and i think really to make it easier for them to come visit, easier if we're down the street versus flying to san antonio or austin or something and for us, texas worked. we were able to build a talented advantage in texas. the wonderful thing about texas is the people have a can do attitude, they're entrepreneurial and they want to go for it so we may not have as many techs as california does but the techs we're able to recruit in texas stick with us. >> lanham, i can't let you go without asking one question, views on paul ryan? >> views on paul ryan. i don't have a political view necessarily. my view as a business leader, i want these guys to do their job. our country needs help. it used to be i'd be happy with gridlock and nothing happening. i actually think we're at a point where these guys need to do their job. >> thank you for being here this morning. >> pleasure, thank you very much. >> you bet. >> congratulations and good luck. coming up, he grew sun microsystems to a leader of network computing, we'll ask scott mcknenealy about silicon valley and a congressman, representative tom price 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decades at the forefront of the tech industry, scott mcnealy will join us on the next big tech trends. 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"this book will help renew your faith in free --" but sounds like part of his speech, restore common sense value of fiscal responsibility and pass these principles on to future generations of americans at a time when they are needed most." not everyone reads the book when you ask them to write a blur shall. took the time to read it, furnished us with a great blur be. >> now he might become the vice president. >> he might become the vice president. he was not just actually on. >> we should make that clear. >>. >> we should make that clear but we have congressman price. >> thank you for that segue. >> you didn't know that was coming. >> i knew he was coming but join us now representative tom price, chairman of the house republican policy committee, he has also served on the budget and ways and means committee with congressman ryan, and good morning to you, sir. >> good morning. i thought i'd gotten scooped. >> the question of the morning, did you expect ryan, but perhaps more importantly of the people that romney could have picked and it seemed to have come down at the end to tim pawlenty on the ticket, potentially. >> portman. >> or ryan. which of the three would you have picked? >> well i think what governor romney has done is focussed with the pick of paul ryan on the real challenges that we face, taking somebody who understands and appreciates the remarkable fiscal difficulties that we're in right now, and knows the way forward, can assist the governor in hopefully when he's president, in moving this country forward and turning things around, as paul is fond of saying. any one of them would have been great. i'm proud of paul for being selected as a fellow house member. >> going into saturday, did you have a different pick? >> i had the top three that i had are the ones that everybody else had. i think marco rubio was also on that short list as well. but look, i don't think the governor could have gone wrong. i think what he has done with this is truly said to the country, i understand the gravity of the challenges that we have, especially from a financial standpoint. i believe that the person who can assist me most in getting us back on track is paul ryan. >> congressman, one of the issues we've been talking about is the idea that ultimately at some level, ryan could represent austerity to some people, and what that means, how do you think that independents are going to look at this? >> well, i think what he represents and what he'll be able to articulate as you all know so well is positive solutions, recognizing the realistic challenges that we face, and then proposing positive solutions. we can no longer put our head in the sand, which is what this country has done for literally decades from a financial standpoint. you know that, and what paul ryan will be able to do is, in a humble, sincere, articulate way, express to the american people the challenges that we have, and demonstrate and reveal a way forward, and that's what the american people are clamoring for. >> congressman, good morning, this is george p. bush. greetings to you. i was just in atlanta visiting with some of your constituents. some of our viewers may not know that you were one of the architects of a bill that was an alternative to obama care, and i was curious what mechanically congress can do for those that are encouraged by some sign of maybe reforming the existing bill as it was approved by the supreme court. >> sure. >> are you involved with any efforts to initiate any kind of reform of the bill? >> absolutely. what we need is a willing partner on the other side, which is why this election is so incredibly important to make that choice between two futures as congressman ryan talks about. we believe that the president's law, the president's health care law violates all of the principles that we hold dear. it increases costs for health care, doesn't decrease them. it decreases accessibility, makes quality less available for folks and as a physician, i can tell you that that is the most destructive thing from a physician/patient relationship. the good news is, is that you can solve these things without putting washington in charge, and i've worked with congressman ryan and with governor romney on the kinds of solutions that we would urge to move forward, but it will be done not in the way that the other side did it. it will be done in an open and transparent way, deliberative and bipartisan way so we can get this country back on the right track. >> congressman, on the tax front, one of the issues and you already saw it over the weekend, democrats trying to paint romney now and the romney-ryan ticket as folks who are trying to help the rich. is that something they can reframe in a different way, or something they have to take on the chin and try to focus on other issues? >> look, the american people, when they understand that higher taxes under the president's plan are just going to chase ever increasing spending. nobody's for that in their right mind. our budget, in fact, closes loopholes, the budget that we worked on with congressman ryan and that got through the house, closes loopholes so one could argue that's an increase in taxes for some, but it doesn't chase higher spending. it decreases the deficit and gets us on a path to a balanced budget. we don't believe as the president apparently didn't believe two years ago, but doesn't support now, that raising taxes on anybody, especially job creators, at this time of economic challenge, is a wise idea. it doesn't make any sense, so although the president said that two years ago, he clearly doesn't believe it now, and he's trying to divide the nation apparently for political gain. >> congressman, we got to run but i have one last question on taxes. >> yes. >> do you think that romney, whatever his ultimate budget proposal is, and i know he's got 59 points, that he can actually move -- how far can he move away from ryan's plan if he was going to move away at all or are they now neck and neck together? >> the principles are the same and again this isn't going to be a top-down process, i don't believe. i think it will be a deliberative process through the congress, along with the president, who is willing to work with both parties, and the principles are the same. you've got to lower the rates, broaden the base, close loopholes so that you don't have special treatment, picking winners and losers from washington. that's the way you get this economy back on track. >> congressman, thank you for joining us this morning. >> thanks so much. coming up, scott mcnealy, pioneer of the tech industry, sun microsystems founder, on the controversial contest that offers 20 young entrepreneurs $100,000 to drop out of high school, more when "squawk box" returns. had all the classic symptoms... like the elephant on my chest... he thought he was having a heart attack. she said, "take an aspirin, we need to go to the hospital." i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. i'm very grateful to be alive. aspirin really made a difference. it's something you're born with. and inspires the things you choose to do. you do what you do... because it matters. at hp we don't just believe in the power of technology. we believe in the power of people when technology works for you. to dream. to create. to work. if you're going to do something. make it matter. welcome back to "squawk" this morning. tonight on the premiere of "20 under 20" transforming tomorrow, inside look at the billionaire venture capital's competition for young entrepreneurs, his foundation is offering 20 of the world's brightest young minds $100,000 to drop out of school and start turning their silicon valley dreams into reality, but finding these teenaged innovat r innovators is no easy task. >> the tiel foundation search starts with the app-a-thon, brought in insiders to vet thousands of applications, all in hopes of finding the next steve jobs or mark zuckerberg. what we're looking for today is intellectual courage, independent thinking, creativity, and passion to change the world. >> i think a great challenge for the 21st century is for the united states to find a way to go back to the future, and to go back to a time when people believed in progress and the ability of technology to transform our society radically for the better. america america is very good at finding talent with football and baseball. when it comes to finding young entrepreneurs we haven't done very much. >> the two-part special premieres tonight at 10:00 p.m. eastern and pacific with the finale airing tomorrow at the same time. you don't want to miss it. i've seen pieces of it and it is very, very cool. >> knowing what peter thiel said and he's been on talking about it, a "60 minutes" piece he did and on here, and it's a fascinating, controversial, really a good thing for us to delve into in terms of a reality type idea. he's a pioneer of the technology industry, scott mcnealy, cofounded sun microsystems in 1982 and served as chairman and ceo for more than 22 years, he joins us to talk about his recent venture, weigh-in, trends in the technology and the industry and we talked about weigh in, didn't we, scott? tell us what that is. >> it's great to be here, by the way and thanks for having me on at 5:30 california time. >> i see you made it as far as stanford, so you're two hours away from your house on 17-mile drive. thanks for doing that. we couldn't get you all the way back here. i don't know why you'd ever leave that place, but. >> i got better times when i was chairman and ceo. weigh in is doing great. started it up in colorado. california didn't seem like a right place to do a startup these days and it's a conversation tool and we're using it to allow ceos, brands, celebrities and government agencies to have many conversations using social media with a purpose actually to engage customer engagement and we're finding a niche with ceos who want to have a conversation with their employees. >> i don't understand it that well yet, and i mean you have to be a real celebrity? you can't be like a "d" list or "f" list? >> you guys are perfect, ask questions real time during your show online and your constitu t constituencies could participate before, during and after shows, you could ask a question, was scott worth listening to on this show, and you could find out which guests they actually enjoyed having on your show. >> do you understand this, andrew? >> a little bit. >> you do. it sounds -- >> we should be doing it. "squawk" should be polling. >> you're aggregating, like twitter but you're aggregating a certain subject or speaking to a certain subgroup. is that the way it works? >> yeah, we launch a conversation with an evocative picture or video of url and then we publish the conversation on facebook, we run on top of twitter, we can embed it in the "squawk box" home page, and people from their phone, ipad, any device anywhere can participate. they can be in their hotel room or traveling or at the airport and they can vote on a particular issue, was ryan a good pick for vp, was scott a good guest on the show today? what do you think about kids dropping out of college? you can get fan engagement, viewer engagement in real time. >> was ryan a good pick for vp? >> let me tell you, he's way better than biden. so i think score five -- >> that's saying nothing, scott. what else? give me more than that, please. >> i think, the one thing i want to hear both, and i'm a huge fan of mitt romney. i've known him forever and he's exactly what we need going forward, but i want to hear firm, clear, specific limits on the size of the federal government. 15% of the last three-year moving average of gdp ought to be all congress is allowed to spend and i don't care how they raise the 15% of gdp, from tax revenues, certainly i'd like to see consumption and flat taxes and no corporate taxes and we'd have an unbelievably vibrant stimulus to our economy. >> why wouldn't that just be trickle-down, scott? i have trouble when people keep telling me if it's good for corporations and people that are producing, it never trickles down. so it's like it would be better if in one succeeded, that's the only way i can understand what they're saying really. >> well, that's like saying we don't want any millionaires, billionaires or successful people in this country. >> maybe that's better, because of the disparity. >> i'm just, you know, i miss reagan and i miss milton friedman, and friedman was very articulate about saying that a market economy with economic liberty, which drives individual liberty, is the only way to bring the masses out of poverty, and what we have today with the government and you add in obama care, we're approaching 50% of the gdp is in the public sector, we are having trickle-up poverty in a massive way, like we haven't had in a long, long time and it's just a shame to see us moving in that direction. >> scott, i think you're right and i wouldn't suggest -- >> what? >> no, no, he's right from in terms of gdp -- >> what part of what he said do you agree with? >> my question is the transition from here to there and what you think the impact will be on the economy during this transitionary period? scott? >> well, the hard part is, when you have generations of voters who have been raised and indoctrinated by public sector union teachers and tenured professors, many of them just don't understand the market economy, individual economic freedom, and all that friedman has to share with us. >> scott, i'm agreeing with you but asking you a different issue, from tan economic perspective, some people would argue that -- >> austerity. >> the ryan plan would be considered austerity at least for some period, and what that ultimately does to the economy short term, not long-term. >> we're in a deep hole, and you don't get out of a deep hole without getting muddy and some huge challenges but we're headed for really serious problems. trickle-up poverty isn't impacting the people who are the job creators, the capital formers, all the rest of it. their life styles aren't changing but they're not putting their capital to work. we don't have a cash or equity issue. we have an investment issue and people don't trust it. they're moving out of california and setting in colorado like we did with wayin and people moving outside of the u.s. with their investment dollars and you know, the problem is, government prosecutes everything they do inefficiently, corruptly, crony investments everywhere. we need to minimize the activities that the government does. we have to have the government do courts and state and defense. we don't have to have them do education, we don't have to have them do insurance and we don't have to have them do health care. those are two critical, those activities are too critical to have the government do them. >> scott, good morning, this is george p. bush. thank you for joining us this morning. >> hi, george. >> i want to ask if you see in silicon valley in light of your illustrious career, if business leaders, bifurcating between fiscal and social questions this election cycle and saying we need to get our fiscal house in order and i'm willing to maybe perhaps vote republican, even though there are maybe lifelong ds or independents? >> i think you're right on the big issue. i think everybody, not everybody but there's a huge group like me who are socially quite liberal, and fiscally quite conservative. but without economic liberty, without economic opportunity, you can't have individual liberty. when the government owns and controls the economy, you have an oppressive, corrupt, crony capitalism environment, that will absolutely destroy the individual liberties that we all enjoy, in a democratic society, so i think they have to start with the economy. i think bill clinton said it right, it's the economy, stupid. if the economy isn't there, we can't take care of anybody. >> woo, man. it's 8:49, i'm supposed to i was just going to let you keep going till 9:00, but i can't. i wanted to ask you about a quick throwaway on paul ryan. that was deep. scott, thank you. if you come back, you're welcome on the set. >> i appreciate it. >> better hours on the east coast. coming up, stocks on the move ahead of the trading week. we'll head down to the new york stock exchange. that's coming up next. take a look at the highlights of congressman paul ryan's budget plan. down here, folks measure commitment by what's getting done. the twenty billion dollars bp committed has helped fund economic and environmental recovery. long-term, bp's made a five hundred million dollar commitment to support scientists studying the environment. and the gulf is open for business - the beaches are beautiful, the seafood is delicious. last year, many areas even reported record tourism seasons. the progress continues... but that doesn't mean our job is done. we're still committed to seeing this through. 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[ all ] i'm with scottrade. welcome back to "squawk box." let's get down to the new york stock exchange. jim and david join us now. gentlemen, start your engines. jim, you expect anything happening in the market based on all the political news or more based on just improving outlook for the economy maybe? >> i think it's the latter. i think the political news is good chatter. but we're getting a firmer tone around the world. even greece last night delivered a better-than-expected gross domestic product number. >> greece and better than expected don't together -- >> it hasn't happened since zorba the greek. they were looking for down 7. >> upside surprise. >> there you go. >> this is supposed to be a sleepy monday. and there's lots of upgrades, downgrades, coca-cola downgraded by goldman saying cycle into the worst performing stocks in the group. also seeing, there's two calls, netflix, reed hastings, he bought $1 million worth of facebook. >> yep. >> and capital bought 10% of facebook -- of netflix. so you've got netflix on the run. and you have facebook on the run. this is a really strange monday. >> it is. and you've had some time off, haven't you, on "mad money"? >> yeah, i've had a little time off. the olympics were on at 6:00. great boxing. i was always shocked about kazakhstan. they were powerful. >> so your show is on at 6:00. that's good. >> we're on tonight. looks like bulgaria's wrapped things up. and we're ready to roll. >> larry's back at 7:00, too, right? >> yes. he's back. larry probably is going to -- probably talking about ryan and what i call the rom/ryan express. sinatra's best work. chairman of something. >> thanks. we'll see you in 4 1/2 minutes. coming up, we'll get final thoughts from our guest host george p. bush after this. so, what's the problem? these are hot. we're shipping 'em everywhere. but we can't predict our shipping costs. dallas. detroit. different rates. well with us, it's the same flat rate. same flat rate. boston. boise? same flat rate. alabama. alaska? with priority mail flat rate boxes from the postal service. if it fits, it ships anywhere in the country for a low flat rate. dude's good. dude's real good. dudes. priority mail flat rate boxes. starting at just $5.15. only from the postal service. looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account today and discover another reason serious investors are choosing fidelity. 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