I have learned a lot. What we have done now is that we have pulled together all of our experience from sink or swim and we have rolled it into a Company Called dough. Right now, we believe that the industry is right for innovation. We have let me just get my slides here one of the things that we truly believe is that Brokerage Firms and Wealth Managers have an opportunity to tap into that Younger Generation. We think there needs to be a new approach, but with a new visual and with a new design. And we need to go to that Younger Generation with how they use technology today. They are highly mobile. They have they really they want information to come to them. I want to introduce to you a sneak preview of dough. We will see the launch of it in a few weeks. It combines trading and an engagement platform for the Younger Generation. I will show you the video. [video clip] one of the things that we have done is going back to the thing that adam said. It is simplifying and trying to roll this into one platform that simplifies having problems with the clicker. Sorry. I want to talk about the Younger Generation in general. They expect everything to come to them. There is a Big Convenience and easy access and everything needs to be mobile. There is 10 of the u. S. Population that already uses mobile devices. Just access their bank accounts. Of that 10 , you have 54 of that are accessing the checking and savings accounts. You go further into 36 of their credit cards. 28 of those for the investment accounts. We know that this environment is ripe. Theres also the expected growth of 30 per year for the next three years. One of the things that we did add sink or swim is that we were at the forefront of the Technology Area for online trading. We have been at the forefront really. The amount of content that gets consumed through video every year is enormous. We need to make sure that the content is relevant and entertaining. But what is important is to make sure that the technology that is provided is pushing the content to the customers or has the ability to curate the content and make sure it is organized and easy to find. On top of that, make sure that video or that data is all on demand. They want it now. They expect it. The younger demographic expects that it is all easy access wherever they are. Also, that it is free and shareable. Thinking beyond mobile access to your bank account, taking it one step further, something that is simple. Something that Brokerage Firms do today. You can get your debit card. You can write checks. You have access to more options. It is really important. You need a flexible alternative than just a bank account alone. It is time to think differently. Our approach is a different approach for that younger demographic. Providing not only an entrance to gaming and entertainment, but also with content and access directly to their trading accounts. It is time to think differently. Creating a culture within we take that startup mentality and we need to place that inside a larger organization. The base tom will pull me off stage. [laughter] the one thing we need to think about is taking that startup mentality and placing it within large organizations. Give them the chief innovators hat and start to create a culture of innovation. Thank you. [applause] thank you. Next up is nicole. Nicole and i first met when a Company Acquired sink or swim. She now runs the largest trader group and the Trader Technology in the world. They do over 3 billion of transactional business every hour. When you think about las vegas, they do about 2. 5 billion of transactional business every year. Im showing you how huge that segment is. Nicole. That is a lot of benjamins. A lot of benjamins. [applause] great. Like tom said, i used to work for him. When he went to start a new media company, he sought out all of the smartest people and left me behind. It is great to be here. I want to talk about some of the things that our firm has been focused on from a problem solving perspective. I have been spending a lot of time recently studying generational migration trends. Riveting, right . If you think about it, im responsible for the growth of the trading business at Td Ameritrade. When i looked on the road, im concerned about what will happen with future generations. If you look at this graph, were looking at it from 2010. In the green comment baby boomers. As we look a few years down the road, 2020, that population is going to drop down below 20 . The millennials will be at 19 of the population. Ready much everyone in Financial Services have always been talking to the baby boomers. But a few years down the road, we will be targeting a different individual investor. I have been studying these individuals. Some things emerge that has me concerned. 11 leave at the stock market is the best way to prepare for retirement. That is not many. If you look at generation z, 40 believe a savings account is the best way to save for retirement. That is concerning. As we all know, the best way to build wealth over time is through the stock market. We teamed up with two guys who are millennials themselves. They have a Small Company out of kentucky. They are great with social and finance. The genesis of the problem that we gave them was how to get in front of young kids and keep them teach them to think differently about the stock market . How do we get them less concerned about the risk of the stock market and get them to cultivate a genuine interest . What youre looking at on the screen is a graphic that we found in the huffington post. That is the genesis for the idea. These 10 publicly traded companies are the top 10 companies in this diversified foods sector. Most people know that nestle crunch is owned by nestle. They may not know about nespresso. Young people have an amazing sense of brands and labels. They are genuinely interested in brands. A know a lot about them. What if we could get young people today to think about products they interact with not just from the if i rush my teeth with crest and i got a Pumpkin Spice latte. What if they could think in terms of having a different way . It products that they interact with and talk about on a regular basis are publicly traded companies. If they invest in those companies, they could potentially make some money. That is the genesis of the idea. It is a new site. What it does is it comes through all of your social interactions. It looks at all of the tweets that you and your friends are talking about the most. It is not just the companies, but at a product level as well. If you say you are enjoying a Pumpkin Spice latte, you know that the publicly traded company are talking about is starbucks. It is an amazing database. You can see one of the investors likefolio. How it plays out, you can see a 12 month Price Performance of young. Yelp. The different bubbles will show you what your friends have to say about that particular stock. My hair salon mentions if you go on to yelp and do a review, they will give you 60 off of your haircut. Wow. They want people to get on yelp. My friend jason miller says spread the good word. As soon as i saw that, yelp is a verb. That is a Product Developers dream. That investment is now worth 2600. It is a different way for young people to think about the stock market. One other thing i want to mention quickly in the interest of time, another thing your building is Td Ameritrade u. What we are doing with Td Ameritrade u is taking our paper Trading Software and putting it in colleges and universities completely free of charge to allow young people who are learning about the stock market the ability to trade and see how one another are performing. It is basically a virtual environment for them to kick the tires and see how they would do in a trading environment. What you can see here is a professor, dr. Smith. He is teaching four classes and he is ranking competitions in his classes. He can see exactly how the students are taking in the insights and concepts they are learning in class. Angela can see how her traits are performing and also how her friends are performing as well. Here you can see angela is ranked seventh in the super trading competition versus matt maguire who is in first place. You can click on matts name and figure out what he is doing to outscore her. There is a learning curve. There are challenges were facing in how young people are thinking about the markets and of Innovative Solutions that can help them think about things differently. Thank you. Good stuff. [applause] i have got a couple of minutes where i get to throw some not so softball questions. Id like to them. I told them that i was going to throw them all softballs and i decided that is no fun. Ok. I expected it. The average investor is about a 50yearold white man. That is it. The industry is a 50 year old white guy. How do you change that . You have to do something incredible. You almost have to burn the forest down to restart it. What you women are doing or Building Companies and parts of a Larger Company to address that. Here is the issue a 21year old may understand that they have gotten a starbucks latte, but that doesnt necessarily help them improve upon the law of big numbers or big averages where you ultimately finish with a mediocre result. How do you change an entire generation of twentysomethings . How do you get that to something you were talking about . How do you get that 21yearold to learn how to up like this . Make it applicable . Going back to the concept, likefolio was created to spike that interest. It is not enough. They have to learn about the fundamentals. They have to learn about Risk Management. More and more Companies Like Td Ameritrade are taking all of the education insights that they need to know and delivering it free of charge. Is that like that casino . I do not think so. In terms of the sustainability of my business, i will continue to have a job. Education is a key component of that. The more successful clients are, the more successful our business owill be. Next question. The amount of options and derivatives in Td Ameritrade at the time was about it is now in the mid40s. That is incredible growth. There is a different climate. How do we move this huge growth down to this Younger Generation . How do you make it so that it is investable for them . Absolutely. This goes back to what i was saying the war. Make sure you are providing the tools for that Younger Generation. Think about how they live now. They are gaming on their mobile devices. It could be video or written. They like to follow and interact socially. That is one of the things that we have done with dough. We provide all of those avenues for the generation young generation and to learn about trading and follow other traders and watch what they are doing. It is similar to what you are doing in the universities, but we are doing it with live trades. We do it with providing a number of different types of people that you can attach to. I believed that one of the best ways to learn is that hands on learning. You are learning by doing. You can also watch someone do. With dough, you can stand over a professional traders shoulder and understand how they are maneuvering the markets. If you watch those individuals making the trades and understanding more about why the qualities to say that certain Product Types did not fit the complex via the technology, that the Younger Generation with a added to submit it. Kids, address all these it is exactly the opposite. I think that is the case. As i was mentioning before, they have an amazing perception for brands and products, and a lot of the products that young kids are interested in today really depend on the comedies that they roll up to. This knowledgef and spending power as well. It goes back to the aiders 80s when people went back to products we know and use. World,looking at your and young people are looking at their world at different lens, when it is not just the products i use, but there is a company that makes this product, and they might be performing well in the market, it is all about thinking differently. To thehristie, taking it next progression, how do we engage . How oldto go out will he do you change a culture that is just like somebody said earlier, a lot of people want to open up a bank account. Said why would anyone want to broaden up a brokerage account . A couple of things. First of all, a bank account versus a brokerage account, i do not know why any would what to open up a brokerage account today because oak ridge firms have, long way in all of the capabilities you can do. Not just trading stocks and options, food futures, and funds, you can have your debit card, you could have your checking, you can have it all in one place. That is fantastic. One of the things i will say is talking about engagement, is taking that brokerage platform and putting it on top where you have the engagement tools, the constant engagement tools. One of the things i would go back to at think or swim, we merged with another company. It was a Financial Education company. We saw that when someone had the educational core, they had confidence to trade more and try Different Things in the market. They traded 24 times more after they took that class. After a while, they dropped off. The engagement was missing. Taking that content and providing continuous financial commentary and entertainment, something useful on something relevant is really critical. Providing that sort of content in the same place where they are placing their trade is also really important. Adding the people that you can follow and learn and have that in one place is ideal. It is almost expected these days. Nicole, a quick question on Financial Literacy. A new generation grows up with Financial Literacy as one of their backbones, which it never has been, it changes the way you do almost everything. Even if you do not invest or even go to work, we are more technologically driven toward math. Wouldnt that change the entire Growth Industries . Everything. [laughter] i think it absolutely will. Look at all of the young people that are here today and are looking to share ideas and learn about what other companies are doing that is new and innovative and different. To me, that is what Stock Research is all about. It is looking at Innovative Companies and what they are doing differently. As they are problemsolving, how will that play out in terms of their performance . That is what the stock market is all about. If we could get young people focused on developing that passion behind the company that is out there making money, not only would it change the ideas that would bring to market, but they will be in a better position when it comes to retire. How hard is it Building Financial technologies . How hard is it to address things that have never been addressed before with technology . Building scalable, Financial Technology that has never been done before, is it risky . Is it difficult . I will start. It is both. It is difficult. It is risky. Youre not really sure if it will ultimately provide that or fulfill that need that people have out there. If you say i know who that demographic is that i am going after and really understanding how they function and how they live and how they get their information or how they naturally expect to use it, you can build it there. It does not always easy. You have to constantly be ready to change. That is one of the most important things. I will change the question a little bit for nicole. In the industry, as we teach people as you teach people to become more financially literate, how do we apply that with respect to owning your own results . The problem i have had with the financial space is that everyone prefers to blame instead of taking ownership on themselves. As you build Cooler Technology and deliver a message, shouldnt the transition be obligation to the user . I think so. We call it the selfdirected space. We spend so much time over the past few years. One of the many reasons we acquired think or swim is that i have an amazing infrastructure built into the technology to help investors know what they were getting when they were pulling the trigger. They knew what they stood to lose and what to gain. I look at my job as a technology innovator. I have a responsibility to keep raising the bar. Help give people the tools that help them better understand what decisions they are making and help them make better informed decisions. It is a responsibility. Is the future of Financial Technology content or functionality . I actually believe it is a combination of both. You cannot have something that stands alone. You need to provide so much more than just one or the other. Content, we are in the content area right now. Content is king. But that technology has got to be amazing to go along with it. It is both. What i would say is that within our think or swim platform, it is the number one trading platform, we have done so much over the past year to integrate more content into the system. It helps to better inform the user. Within our platform, our client can watch a show where he is talking to them all day long about Risk Management and trading. The content delivers through the trading platform. You have never listened to the show . I have never talked about Risk Management. [laughter] i have never mentioned it. Anyway, this was great. Thank you so much for coming. [applause] all right. I will grab this bio here. We had a late change this morning. My guest is coming up from the ayn rand institute. I have no idea what i am doing here. I got an email about someone canceling on a session on money. Do you want to fill in . You offered me a stage and an audience and i will always say yes. What am i going to say about money . This session is not even about money. It is about investing and making tools and technology. There is a most nothing about money. I have a feeling that most of you came here to talk about investing in technology and i would rather listen about that stuff. But i will talk about money. I was trying to think. There are all these wonderful presentations. I started thinking about it. There is a connection. We have this attitude in our culture we live in total its money. This is particularly true of younger people. It is not a positive attitude. We all want and need and use money, but deep down, we feel uncomfortable about money. It is selfserving and greedy. That is reflected in the financial world that we live in. Why is banking such a tangled mess . That is an expression. It is exactly 100 years, by the way. It was a tangled mess in 1913. We have got to tangle financial industry because we do not trust it. We do not trust money. We do not trust people that pursue money. We try to regulate them to death. We need a startup to come in because no existing bank can even oppose. It is a disaster out there. It is barely surviving. If you think about derivatives that is hard for kids to even connect with, the last five years, all that we have heard in the news media is how derivatives almost destroyed this country. We were on the brink of complete financial collapse because of what . Anybody in the media that you ask would say it is those derivatives markets. People have got a shield up against that. We live in an economy that is growing what . 1 a year . It is hard to gain confidence in all of this. What is it . We live in this environment that is hard for young people to engage in these financial kind of thinking and decisions. We live in an environment where people dont understand but money is. The Federal Reserve is paying billions of dollars per month. Is that money . How does that affect us . What is that stuff . This paper that we carry around . What does it represent . Where does it come from . What is money . What is this stuff . Purchasing power. This allows me to buy stuff. Why is it cool . Who invented this . It wasnt the fed reserve. Money predates the fed reserve a little bit. In the really old days before i was born, what do we do when there was no money . You bought it. I will trade my cows for your chickens. Not a good way of doing stuff. They come up with something. Something that facilitates trading between chickens and cows. Half a cow is not worth half a cow if it is dead. Not very useful. Bartering is a cumbersome and inefficient system. They come up with this exchange that we call money to facilitate these transactions. It makes a passable possible to buy stuff. Tobacco was used in money in colonial america. Cool looking rocks have been used for money. What is the obvious one in the last 200 years . Gold and silver. Precious metals. What do you not want money to be . You do not want it to be too plentiful or too easy to create. Then you have a lot of money coming. What happens . Economic 101. The price goes up. Everyone wants the same goods. Prices go up. The fed is spending billions of dollars a day so we have more money. The economy is not growing. What happens to that money . I see they have a trick up their sleeves. It doesnt go to purchase more goods. Where is that 85 billion dollars going . It is going into the stock market part of it is going into the bank reserves. The fed is paying the interest on that income. The fed is printing money on one hand and paying people to keep it in the reserves on the other. That is one of the reasons prices are not going up despite the fact he had the same number of goods. So, money, you want it to be something precious and hard to come by, something that can only grow so much. You do not want it to be plentiful. You wanted to have some value. Gold could be turned into jewelry or a crown. That is how money involved. If you think about a guy who was supposed is talk instead of me, he was going to talk about bitcoin. Notice that they created some characteristic of bitcoin to make it look like a precious metal. Limited supply. Only so much is being used at a time. It will only be a certain year that they stop the use of the. There only a finite use of this stuff. People are willing to accept it for transaction. Why . Why would you accept this . It is basically a string of encoded is zeroes and ones. What is that . [inaudible] someone is willing to except it because they believe someone else is willing to accept it. Why . Interesting question. I do not necessarily have the answer. I suspect that you can buy illegal goods with that because it is not traceable. One guy was caught in San Francisco buying and selling drugs. I think it was heroin or cocaine type of stuff. It is untraceable. You cannot trace who is buying more who is selling. The encryption is so difficult to trace. It allows you to buy illegal stuff. What else . In an era where we are losing faith in the dollar and losing faith in money, traditional money, there is an alternative. It is used primarily by people who are somewhat on the fringes, suspicious of the dollar, suspicious. It is on the fringes. It allows transaction to happen invisibly to authorities. In a state where there listening to everything that we say, you can use bitcoin to avoid all of that. It is a bit of a phenomenon of the state of the world, about your ability to be anonymous online. That is what bitcoin provides. It gives you a anonymity. No one can trace that dollar back to you. This is anonymous. So, money is this mirror of exchange. How do we get money . We get money by creating stuff. We get money by building. We get money by being productive. By being innovative. I going to work and working hard. The more productive we are in an economy that works right, the more productive you are, the more money you get. Money is a reflection of our own productivity. It is a reflection of the work that we do. It is a reflection of our success. Money is never it shouldnt be money is not an end in itself. Why do these wealthy guys still work . They could three generations or four generations try to spend it. Why do they keep working . Why do they keep making money . Because money measures our success. In measures amount of value that we create. When you offer someone a good and they are paying you, what are they paying you . Because it is valuable to them. Money is this beautiful mechanism by which we transact value to value. Bill gates becomes a gazillion or by selling a product that we hate or despise . No. It is a product that we value. You pay 100 for microsoft it is a lovehate relationship. We could not survive without it. You make money by providing a good. Money is a measure of how good you are. It is a measure of how valuable people love it, thou use the good, that product that you have created. Money is being portrayed as the root of all evil. Money is the root of all good. All it is is a measuring source. A tool that we have to measure success, to be able to use that success, to use that money, and measure their success. The product or the service that they make your life better. This is trade. Who loses in a trade . Who loses in a trade. I buy an automobile. More than 20,000. How much is it worth to the seller . Less than 20,000. Winwin. You enter. Now you buy a lemon once in a while. You generally enter trade as a winwin transaction. Money is the facilitator of win win transactions. It is one of the great things we have in our culture. We should celebrate, we should change attitudes towards money. I am being shelved off. Thank you. [applause] i was listening, and i was thinking, where do we get money . You go to the cash machine. I would like to end on a takeaway. I feel like you come and listen, you need to take something away. Im going to base this off of the New York Times editorial couple of weeks ago. I want to test it for myself. This is a generational change. This is the take away from todays discussion. We are attacking topics, issues, projects. We are attacking content that 10 years ago was ridiculously complex and too complex for the doityourself consumer. Were seeing this huge move to complexity is free. It is so investable at this moment. I will give you an example. Live on the air for the last couple of weeks we have suggested to 40,000 listeners, solve our financial problems. We offered nothing. It is all good well. Solve the financial problems. Go build some better model. Go figure out exactly what the risk is of managing winners. Of the diversifying capital. Go out there and sulfur something that no one else has done before, and do it for nothing. The idea that complexity is free is a game changer. What we have seen in responses hundreds if not thousands of complex formulas. 50 pages of spreadsheets. Ridiculous calculations. Crazy stuff coming in for free. We offered up nothing other than opportunity to participate in free change. Thousands of complex formulas. Different ideas. All of that will change the world of investing and finance. You want to talk about money, the future of money that we used to feel it was too complex. When it gets down to it, and we start to get to this, we focus on moving this to a Younger Generation. Doing at 21, the idea of the stuff as complex, it is simple. Engaging it and delivering it is fascinating. It just leaves you with that. We are changing everybody here based on their ability to almost act like sponges. To adapt everything and make it investable. If it is not investable, it has no value. That is what we are trying to do. Make this complex idea, simplify them, and turn it to something that everyone can apply. Thank you so much. [applause] [captioning performed by national captioning institute] [captions Copyright National cable satellite corp. 2013] eventsw a bunch of live here on the cspan networks. Willnor Dannel Malloy speak at the American Enterprise institute. Later, the leader of the french opposites of party, well talk about frances role within europe, and a host of international issues, including the deal with iran. That begins at 6 30 p. M. Eastern, also on cspan2. We think that it is recent, and only people alive today have ever done that, but really what im arguing is that there is a very long and rich tradition of social media that goes back to the era of cicero, the late roman republics. That is First Century bc. The white is you do not need a Digital Network to do social media. If you do want that have one, it goes faster, but we had one in the old days. Messengers running to and fro, and other were members of the roman elite were all linked to him, and theyll spoke to each other, and it was very much a social environment. There are many other example that have occurred throughout history made Martin Luther used pamphlets, tom paine, and his common sense, the way that the pamphlets were used more broadly, they went to the american and french revolutions. The first 2000 use of social media. Years of social media. Paulpublican senator rand speaking about u. S. Foreign policy. The kentucky senator is considered by some as they potential 2016 residential candidate. He spoke for about a half an hour at the citadel. This is part of cspans road to the white house 2016 coverage. [applause] thank you. Thank you. Thank you. Thank you, thank you. I understand you guys have a big game on saturday. Who is going to win . All right, all right. Im glad to see there is no debate on that. It is an honor to be with you today at the citadel. I want to thank general rosa for inviting me and having me at the citadel. I went to knowledge the chairman of the board and cadet colonel colin hicks, resident regimental commander. On a more serious note, some of you may one day be called to defend your country. If you choose to serve, you will do it willingly, as a volunteer. Our military is second to none, and our excellence stems from having professionals who serve voluntarily. Since 1843, cadets like yourselves have been coming from the citadel and answering your nations calling. Of last years class, 40 of you chose to serve and accepted commissions in the armed forces. You will serve, if you do, bravely and with purpose. You follow in the footsteps of graduates like colonel Myron Harrington in the u. S. Marine corps, citadel class of 1960, who during the tet offensive in 1968 lead a courageous assault against a heavily fortified enemy stronghold, disregarding extreme personal danger. He led his marines in overrunning the enemy position. For that access action, and all harrington received the navy cross, the secondhighest military award for valor in combat. Colonel harrington is with us today, and i would like to thank him for his service. All of us should thank him for his service and his bravery. [applause] some people in washington think war is a chess game. You can ask colonel harrington, he would tell you differently. Those of us in washington must make decisions. You will fight the wars, but we have to make decisions about whether we go to war. We owe you something. We are you something i think is sometimes lacking in washington. We owe you a full and proper consideration of the pros and cons of war. We owe it to you to follow our constitution and for congress to debate and authorize all wars. We owe it to you to clearly show show our National Interest before we go into war. Well it to you to have a sound strategy and an achievable goal, and most of all, an exit plan so we dont get stuck in quagmires from decades on in. Above all, we should demand a formal declaration of war before we ask you to risk and ask our soldiers to risk their blood and their lives. I have taken an oath to defend the constitution against all enemies. I consider the primary and foremost duty of the federal government to defend america, defend our bill of rights, and defend our godgiven liberties. As a senator, i will, if i have to, not hesitate to vote for war. If war is needed to defend the United States. Once war is declared, it is the duty of a commanderinchief to fight safely and execute victory. America cant shrink from its role in the world. We have been, and should continue to be, a shining example of god and at times a superpower good, and at times a superpower of last resort to maintain peace and prosperity prosperity. America must be engaged with the world, diplomatically, commercially, and when necessary, militarily. But to be engaged is not always to be does not mean always to be engaged in war. Reagan believed in peace through strength. His defense secretary, caspar weinberger, insisted that war occur only as a last resort, only when a vital National Interest was at stake, and only when our objective was complete victory. For inspiration and guidance, i often look to americas greatest military leaders. Some of our best observations on war and diplomacy come from the president who is one of our most decorated generals, dwight eisenhower. In David Nichols book, he writes that ike believed with good reason that once the violence begins, everything changes and you can throw your plans in the trash. It is too bad war in washington more in washington dont heed his advice today. In egypt we recently saw a military coup that this Administration Says was not a coup. In a highly unstable situation, our government continues to send at16s and tanks and americanmade teargas to egypt when it was against the law. My guess is those protesting for freedom in egypt who were on the receiving end of tear gas made in pennsylvania dont harbor warm, Fuzzy Feelings about us. Before helping the generals, we send billions of dollars in aid to a government they just overthrew. The president morsi and the Muslim Brotherhood. Before that, we send billions in planes and tanks to hosni mubarak, a dictator we called our ally. Common sense tells us we should not be sending dictators or the Muslim Brotherhood our money, our treasure. Common sense tells us that we should not be delivering advanced weaponry into unstable situations where the outcome is completely unpredictable. I will tell you one thing. One thing of which i am certain. We should not be sending foreign aid to nations that burn our flag. Without question, it is a mistake. [applause] in 2012, i introduced a bill in the senate that calls for holding halting the transport of weapons to egypt, pakistan, and libya. In february i introduced an amendment that would have prevented the shipment of weapons to the Muslim Brotherhood. I think the American People are with me. They realize we have limited resources and should not be sending weapons to people who hate us. But the senate defeated this legislation. This past summer i introduced another bill to prevent the sale of weapons to egypt after the military coup. It is what the law says. We should not even require another bill. U. S. Law states all foreign aid must be suspended when the military when there is a military coup. What did this administration do . It simply pretends there is not a coup and continues to send weapons and arms egypt. In egypt, the regimes keep changing but our system of foreign aid stays the same. After several months of ignoring the law, finally the president did, the Obama Administration finally agreed to stop military aid. I say, too little, too late. We are either a nation of laws, or we are not. Unlike eisenhower and earlier generations, we too often dont think before. Many in washington do things in Foreign Policy to accomplish shortterm goals but ultimately hurt our National Interest and our allies. As we continue to aid and arm this product regimes despotic, we are aiding rebels in syria. According to a recent poll, 70 of americans are against arming islamic rebels in syria, yet the administration continues to arm these islamic rebels. This is unacceptable. The assad regime is no friend of ours, no friend of freedom, but it doesnt mean the enemy of our enemy is always our friend. There are many rebel groups in syria, including extremist groups such as al qaeda. They are eager to send weapons they want not fall into the arms of the enemy. Does anybody believe that . We have trouble telling friends from foe in afghanistan. 100 of your fellow soldiers have died from friendly fire, from people we can figure out whether they are friend or foe in afghanistan. You think we will be able to figure out the difference in syria . It is 1000 fold more competition. Even our joint chiefs of staff, martin dempsey, says it is becoming increasingly difficult to tell friend from foe in syria. What eisenhower buy into this nonsense . Regardless, the United States government should not, even if indirectly, the arming al qaeda. This administration is currently moving ahead with plans to do precisely that, without any authorization. I will not get a vote. The president just as he will arm the syrian rebels. How can we ask our brave young men to fight around the world against al qaeda while in some countries actually arming al qaeda . It makes no sense. I, for one, am not inclined to make america the air force for al qaeda. There is the very real possibility that these weapons may be used against 2 million christians. 2 million christians that live in syria, protected by assad. We have no legitimate National Interest in syria. It is certainly not in our interest to arm extremists who may one day use those weapons against americans or to kill christians within their country. Why do we armed dictators and the Muslim Brotherhood . Why do we arm allies of al qaeda and in danger questions christians . Why do we reward pakistan as they continued to imprison the man who helped us catch bin laden . He was given 30 years in prison. I say, no more aid to pakistan unless they release them. This administration keeps sending good money after bad. The first and primary function of our government is a Strong National defense, bar none. [applause] but so much of what we do in washington today is more like an irrational offense. How do sending foreign aid to egypt, syria, pakistan help National Security . Does it make us stronger, less likely, more likely to get drawn into some war in the middle east . In egypt, they burn our flag. I say, not one penny more. In egypt a mob was on top of our embassy and almost got our embassy. Where was the Egyptian Military to defend our embassy . It is inexcusable. We used to do opposing the market muammar gaddafi. Responsible for the lockerbie bombing, killed American School kids. Then, someone decided to make him an ally. Member said, lets give qaddafi weapons. Interestingly, the same members said not much later, supporting money to the rebels to overthrow qaddafi. Which is it . Why are we arming both sides. I year later we have a tragedy in libya where our ambassador and other diplomats are murdered in the streets in benghazi. Is this over done by rebels we assisted in overthrowing qaddafi . Why did we ever help qaddafi . And Hillary Clinton was asked for more security, he turned the she turned the ambassador down. Under crossexamination, i asked her, did you read the cables . She said she never read any cables. She said, dont blame me, somebody beneath me should have been reading those cables. I find it a dereliction of duty, a clear dereliction of duty. She wants to blame it on somebody else. It is absolutely a responsibility, and her failure to revive the ambassador and his mission with advocate security should preclude Hillary Clinton from ever holding high office again. [applause] amidst the chaos in the middle east, we have always had one friend, a friend that never leaves our side, israel. As an ally, israel has never wavered. One thing you can know for sure and i visited there you will never see an israeli burning an american flag. America has never backed down from a fight, but we should never be a nation that is eager to get involved in a fight. The veterans i have talked to are not eager. When you have more veterans in congress, you are less likely to have war. President eisenhower said, i have one yardstick for which i test every major problem. That is, is it good for america . Is our current Foreign Policy good for america . Is our engagement or involvement in egypt, syria, pakistan, to our benefit or detriment . I think we must have the Strongest Military on earth. Not because we are eager to use it, but because no one would ever dare to challenge us. I think reagan got it right when he said, as for the enemies of freedom, those who are potential adversaries, they will be reminded that peace is our highest aspiration. We will negotiate for it. We will sacrifice for it. But we will not surrender for it. Now or ever. Our forbearance should not be misunderstood, our reluctance for conflict should not be misjudged as a failure of will. When action is required to preserve our National Security, we will act. We will maintain sufficient strength to avail if need be, knowing that if we do so we have the best chance of never having to use that strength. There is probably no clear or disposition of what it means to have peace through strength. For our countries countrys sake, for our soldiers sake for every veteran that ever fought for his country or her country, Americas Mission should always be to keep the peace, not police the world. An america that does not seek to be involved in every conflict around the world would do things that make us safer. We could modernize and strengthen our military. In a few weeks, i will be announcing a task force to do just that, to bring together great minds from our National Defense and put forward a plan to modernize our military so we have the most modern, highly technological, highly Capable Military and strengthen our defenses. We will begin by an audit of the pentagon. Not because i dislike the military. Because i like the military. I want to cut out waste and fraud and make the military stronger and direct the resources where they need to go. But it means you have to have the strength to look even at military spending and say, nobody gets a blank check. With the savings for modernization and a more reasonable Foreign Policy, we will do something we are failing at right now. We will make and take better care of our nations greatest resource, our servicemembers. We will train them better, equip them better, fit fix a broken v. A. System. As a physician, when i visited walter reed i was profoundly impacted by the young men and women there. Close in age to my own kids, receiving care for injuries sustained in battle. It reinforces my worldview about the need to prevent conflict unless it is absolutely necessary. Those injured in our most recent conflicts in iraq and afghanistan will require a lifetime of care. We must Work Together to provide for that, to protect those who per protected us. [applause] we must be more prudent in our Foreign Policy. Eisenhower was right to observe that the wars can lead to big wars. Reagan was right that americas purpose is to promote peace through strength. Reagan once said, above all, we must realize that no arsenal or no weapon in the arsenals of the world is so formidable as the will and moral courage of a free free men and women. It is a weapon our adversaries in todays world do not have. We do ourselves no favors when we aid our enemies, when we aid the enemies of freedom around the world. America has always stood tall as a shining beacon of hope and freedom to the world. Americas Guiding Light is made possible by those willing to wield the sword and the shield, unwavering, steadfast. The american soldier, a volunteer in defense of liberty. For you we are grateful, for your service and your sacrifice. Thank you very much. [applause] thank you. Thank you, senator paul, for those inspiring remarks. We have time for three questions from the corps cadets. Instead of the normal practice of bringing the microphone to you, we ask you come to the microphone located on the floor. Good morning, senator. I am cadet logan morris and Vice President of our society of libertarians. I would like to ask you, what is the number one issue facing america in the coming years, and how can the Republican Party combat this issue . Like it is the debt. People say your generation will inherit the debt. It is already a problem. I economists say the burden of debt right now is costing one million jobs a year. While some of you will serve in the military, 60 of you will be looking for jobs. There are do not jobs because of the burden of debt. There are to nudge him because we are overtax and overregulated. Not enough jobs because we are overtaxed and overregulated. We need a smaller federal government and larger private economy. [applause] thank you, senator. Cadet john vogel fogel. You talked a lot about dwight eisenhower. Our first president , george washington, was also a military commander. But in the constitution we believe the military should be headed by a civilian. How do you feel about the importance of military service in president s past and future . One of the things i mentioned, the more people we have who have been in combat or in the military service in the government, it is interesting that during those times when people look at it, we were less likely to be involved in war. If you talk to some of our bravest soldiers, they would probably say that they are not eager for war. We need to have a certain reluctance for war. People who have been involved in combat are more circumspect than people who have never fought. Is it a prerequisite for serving or being president . No, i dont think it is. It is useful to have many people involved. The idea of having civilians is very important. Even when we elected a general like eisenhower, we are like today civilian. It makes as different than other countries. You see other countries led by generals. They are usually autocracies, totalitarian regimes. Something im very worried about, having an active duty military person. I think our tradition is very good that we separate civilian from the military. Thank you, sir. [applause] this will be our last question. Senator paul, on the subject of holding the Current Administration accountable, do you think we should pursue incidents such as ping ghazi what benghazi what do you think the final outcome should be . Yes it is my opinion, and this is an opinion that needs to be supported by interviewing those involved, it is my opinion that i cannot believe that a military commander did not send reinforcements. I fully believe that in thing ghazi benghazi a politician was involved, i will not name any names, but someone was involved in the decision. There was a lot of discussion going on that night. There is some debate whether they have gotten from italy. They were still soldiers in tripoli. I know a lot of of you are from military families. If you have ever known someone involved, marines, army, or otherwise, they rescue their dead, their wounded. There were still people alive and fighting for hours upon hours, and there were some people in tripoli who could have gone. I dont think that decision was made by a military person. I think it was made ultimately by a politician, and i think we need to know that. So i think Everybody Needs to be interviewed. They need to come in, and the question needs to be asked, who was it that made the decision not to send soldiers from tripoli to reinforce those under attack in benghazi . To my mind, we should never have a commanderinchief who is unwilling to send in troops for reinforcement or in the six month time, did not send accurate Adequate Security when it was asked for repeatedly. To me, that should preclude you from ever holding the high office. [applause] thank you, senator. Thank you, senator paul, for coming to the siddall citadel. As a token of our appreciation, i present you with something that has a great deal of symbolism for this institution. A picture of one of our most identifiable icons. [applause] that concludes our program. Please join me in one more round of applause for senator paul. [applause] i ask everyone to please rise or remain in your places while our speaker and special guests depart. Upon dismissal, cadets are to return to the barracks. On monday we will bring you live coverage of the First National conference on the veterans and criminal justice system. Focusing on Substance Abuse and Mental Health systems. Veteranstt ski are respected to make remarks beginning at 8 a. M. Eastern. The transatlantic trade and investment partnership, you can watch the discussion live at 6 p. M. Eastern, also on cspan3. I did not get the idea for the for dummies series, i had the idea of doing a book about computers, about dos specifically, and i inspired to do that with the editing job i an being on the radio i at that time, and talking to people about computers, it was obviously that people wanted to learn more, but the material we had at the time was not doing the job. We had to get her books on how to use computers, but they sucked. We do not have that they were condescending, they were patronizing, the author was arrogant. He was like, you will never get this stuff anyway, or a look at this, this is cool. People did not want to know that, they wanted to use a computer. Planned toinally publish one book, and there was on the title. E he it publishes that you cannot offend the reader, but fortunately 5000 copies came off the press. Originally lazaridis out of 500, but they stopped at a five thousand. Configured, we will shove this out on the marketplace, and it will go away. At the time, not all the bookstores even wanted to have it. Wantnbooks said we do not to offend our reader, we do not want that. Even with just 5000 copies out there, and this is before the internet, this is before we had bookstores that people wanted to, they came in and it was sold out at a week. People wanted it. They said that is for me, i am a dummy, i want that book. Areo they are to there 250 million books in print in the for dummies title. Next on cspan for newsmakers with former senator ben nelson. He is the ceo of the National Association of insurance commercials that commissioners. Followed by the applicant at their annual meeting talking about the future of their y, and later, q a with joining us from omaha on newsmakers this week for is ben nelson. He is now the ceo of the National Association of insurance commissioners. He cast the deciding vote for the Affordable Care act. Welcome. Thank you. Welcome. Thank you. Insurance commissioners are divided about whether to go along with the request to allow carriers to reinstate canceled policies. There has been a deep divide. Who is right . Let me explain what it is all about. It is based at the state level. The latest information we have all whether or not states of going to go along, i think 17 states as of right now have decided to do this, go ahead and extend renewals and not cancel the policies. 18 states have decided not to go along with that recommendation and are chosen to go another way. The balance is about a third. Those that have not decided our still looking to do whatever they think they can under their laws. It is not surprising that there are different approaches when you have a statebased system as we do. Has there been anything youre able to do . There has been a lot of controversy over this. Some commissioners said they did not want to go. One thing the naic has learned is we do not enter into the policy considerations. It is an implantation job. There are some who are elected. There are some that are appointed by governors. They may be appointed by a commission. No engagement in policy generally. Before we leave this topic, to be clear, even in the 17 states that are deciding to go along with that, theres no guarantee that people keep their policies will get the same rates. Is that correct . That is correct. There is a number of questions that have come up about the decision to have the health and Human Services department not implement that part of the law that basically required terminations by a certain date in cancellation notices were sent out accordingly. What the concern is about having the policies extended into the next year, some people will decide to do that. Some people will decide not to. Theres always a concern that people with Health Conditions will want to extend the coverage. Others will choose to opt for other coverage elsewhere. What that risk is now there will be two different pools of individuals, those who are having their coverage extended and then the other pool which is a larger pool of people who will be buying policies and going into the Affordable Care act as a result of the first of the year. This is a challenge. Under the law actuality, it is based on large numbers. You want a large pool so you do not end up with people with simply Health Commissions or that will skew the rates and make them much higher. That is the challenge. That is the challenge this has created. The problem with trying to do something at the very end or in the 11th hour is that it ends up with other challenges and conditions. In this case, the consequences. This is the latest pickup in the implementation of the Affordable Care act. Is that the only thing they have made as this tries to lock out. You did both in support of the law and afterward you stuck by your support for the Affordable Care act. Are you having any doubts about the wisdom of the Affordable Care act given the problems we have seen over the last few months . Let me express it this way. I do not discuss the policy. I am not in the position to discuss what i think about it today. I am assisting the states in implementing it. Some of the states are opposed to the Affordable Care act are very supportive. I support both sides. It is not appropriate for me to go back and reconsider and discuss policy at this point in time. I think that is probably understood. Clearly, there is a robust debate not only about whether the law should be repealed or not but about what are the steps that should be taken to ensure that the law works as it was intended. Your members, even some of whom opposed the law, believe it is a good Public Policy reasons for engaging in discussions on how to improve it. What do you think of the top few things that need to be done legislatively or administratively to make the law work better for consumers and the states . There are a lot of things that have been discussed. Unfortunately, the act is frozen in time with changes to the act coming to the white house by not enforcing certain provisions such as cancellations. There are a lot of things that need to be implemented. The rolling of the act has created this for the act itself. One thing that is important is to note that in the act, states have the option to have their own exchange. In some cases they have had very successful results. The commissioners there have worked to try to have their own exchange. They are having good results. What can be done to make it better were some people have some concerns about what it does . If youre looking at some positive acts and why some states supported so much, young people can stay on their parents policy until theyre 26. After the first of the year, preexisting conditions are not enforced against adults or young people. They are not enforced against young people right now. There are things that people for positive. Maybe this could be just as successful such as open enrollment, closed enrollment. These are being discussed. I do not think there are any answers right now. There does not seem to be much of an interest in opening up the act to try to change it right now. Maybe that will change after the first of the year and into 2015. Do you believe nebraska should be running to making its own exchange . A lot of folks think it might make sense for other states. I suppose that remains to be seen. There will be the governors election next year. With the new governor coming in. The new governor may see it differently. The Legislature May see it differently. That is one of the points in the act. The states have the rights to make that decision based on what they think is in the best interest of their people back home. The same thing with expansion of medicaid. Some have chosen to do it. Some have chosen not to do it. The ability to make those decisions is part of what many people favor with in the act. In addition to the discussion about renewing canceled policies, theres also been some discussion about extending this past the end of march to allow more americans to enroll in Health Coverage given the problems with the healthcare. Gov website
comparemela.com © 2020. All Rights Reserved.