Eric hi, everybody. Im eric bolling. Welcome to cashin in. Wane rogers, Jonathan Hoenig, bob beckel and star parker. Welcome, everybody. First, the big cities and now the suburb. Poverty papeful reality for one in five americans and that includes moms, dads and kids. In 1964, president johnson declared a national war on poverty. Over the decade since, taxpayers funded a massive redistribution of wealth. In the year since that declared war, welfare spending is up 11,000 . Spending on food stamps ballooned. 32,000 . With trillions of tax dollars diverted to combat and post officeerty, one would think the post officeerty levels would fall. The opposite is handing. The american poverty exploded to 15. 9 . The highest in nearly half a century. There is more. The dream of a suburban house with a white picket fence given way to fastest sector of the poverty. The sad but true reality the new face of poverty is next door. As spending on poverty goes up, the more it is spreing. Jonathan, break it down. Why are we spending so much more and post officeerty continues to rise . The Poverty Level was dropping and fell by half in 60s when johnson began a waon poverty. Since then its 16 trillion on the war on poverty. More tan we spent on the military wars in history. The net result is the higher Poverty Levels. The safety net is destructive. I creates two classes. Victim, taxpayer people and pair sites recipients of the welfare. It doesnt help the prospects either. Eric stark, can we point finger at the higher spending as the cause of higher poverty its not just the spending alone. What happens is it rewards ill behavior. We see it marriage collapses and you end up with a scenario we are. 40 of the American Children are raised in the single handed households. With that, you have poverty. There is no question. The values were seeing now in suburbs that we thought were the insew lated in the inner cities are spill out. The white out of wedlock birthrate today is 8 higher than where blacks were in the 60s when they started social engineering. That is the problem. Eric bobua, do you think . Why poverty spread . Lets correct something. I hate to correct jonathan, but it would be a fulltime job if i had enough time. In the 50s and 60s, pover thety rate was falling and the greatest growth of middle class in history of this country and mostly people in suburbs. So that is not a surprise. A lot of minorities in the middle class went and i could use my area of washington, d. C. Prince george county. Almost all white and now black bob is playing ce card . I can get away with it. Im a liberal and youre not so you cant. What is your point . I started by saying this before i was interrupted what you have to say bob, you have to be honest about what happened there. Black families moved in the suburbs. They moved to get better schools to have a better Economic Future to try to make it a dynamic youre trying to say is not the picture. We have allowed the iner city full of single headed household. If i could finish my sentence. Blacks moved out. So did ethnic groups like the polish and others that moved out of their ghettos in the cities. Seeking middle class. They were on edge economically on whether they were in a position to afford to move to the suburbs but they had to, because the School System was terrible. You can blame the war on poverty all you want. The reason that post officeerty went up in america i dont want the war on poverty. We should end the war on poverty. Eric hang in there. We should end the war on poverty, i think so, too. Eric wayne, the reality, why people in the suburbs black or white are falling below the post officeerty line is the jobs, the good jobs evaporated. Construction jobs, manufacturing jobs. They gave to retail and fast food jobs. A lot of that is true. But the statistics are misleading when jonathan quoted them the way they did. After 196 when Clinton Administration changed the act, the welfare act, poverty was reduced. For next ten years. So this is a recent phenomena from 2008 up to today. We have had a massive increase, huge increase in the last four or five years. So the statistics doesnt tell you that. It atells you the economy for if the last four or five years. Eric we spend a lot of time on t you tell me that economy got better. Skyrocketing entitlement spending is off the charts. Yeah. We have to look at two other factors. Bob, if youre knowledgeable liberal go read what Lyndon Johnson said about the war on poverty. It wasnt supposed to be longterm entitlem. It was to get people selfsufficient to make it them selfsufficient. Not ongoing tax on productive you cant do it and reward ill behavior. Can i agree something that happened in 2008 . Jonathan, you happen to be wrong. Poverty did go down and then it began to rise. In 1996 its higher now shut up a second. Jonathan, you got to learn to be quiet and let other people speak. Try a little politeness now and then. What im trying to say is in 1996, when they tell you, when the law changed and under the Clinton Administration, the congress was a republican congress. Am i correct . Yes. Yes. It changed. Then poverty again went down. We also had a booming economy. You have to stop talk and learn no shut your mouth. Is dr. Kerkorian available . I want to make two points . Would by able to. Eric i want you to make a point and i want to point out post officeerty, the recent number, 15nt be 9 . The highest since the 15. 9 . The highest since johnson. Go ahead. You have to look at a couple of factors. Someone brought up 2008. Why did we see the shift . Where they started going back up. The reasont went back up, nancy pelosi had the gavel. They signed in law for increased minimum wage. Thats how you increase poverty. Try it sometime. Eric bob, wayne, john, star, leigh it there. Another discussion. New leaks are exposing the real truth and we are talking about thousands of about thousands of infrac copd makes it hard to breathe. But with advair, im breathing better. So now i can help make this a great block party. [ male announce ] advair clinically proven to help significantly improve lung function. Unlike most copd medications, advair contains both an antiinflammatory and a longacting bronchodilator working together to help improve your lung function all day. Advair wont replace fastacting inhalers for sudden symptoms and should not bused more than twice a day. People with copd taking advair may have a higher chance of pneumonia. Advair may incrse your risk of osteoporosis some eye prlems. Tell your doctor if you have a heart condition or high Blood Pressure before taking advair. Ask your docr if including advair could help improve your lung function. [ male announcer ] Advair Diskus fluticasone propione and salmerol inhalation powder. Get your first prescription free and save on refills at advaircopd. Com. Eric the president might have a lot we dont have a domestic spying program. New leaks are exposing this. Wayne, can this get worse . Im in favor of the Fourth Amendment. If you violate the constitution, it was written for a purpose. Were a society of law and not of men. We are not expecting those things to happen under any circumstances. There is no excuse for it. Happening. When you start suspending the Civil Liberties for the purpose and abuse, too. It will get abused. The federal government abuses everything. People there dont know what the especially theyre doing. Have no dont know what theyre doing. They will abuse it. If you emnoter them and they will abuse it. Eric we took heat standing by the Fourth Amendment and saying the nsa was violating peoples privacy rights. They denied it. Jameslapper defied ding denied going it. When you allow the rules to be stretched and in this case, way overstretched in the constitution, you will have people taking the ultimate path they can to get the most information. One of the people to pull in here are the phone companies in collusion with the nsa to allow them to interrupt the trunk lines. The worst invasion of privacy. Nsa was doing this since the 50s. But they used to target people who were potential enemy of the united states. Not even. Sure. In the amendnt as you know is probable cause. There was no probable cause. Eric worse than that, star, they go through the fisa court, the Foreign Intelligence Surveillance Court and there is nothing foreign about a lot of americans data mined. Governments are becoming suspicious about the overreach. The i. R. S. Looking at us in a different way. Depending on your persuasion. What incompetence to say we are listening to egypt at country code and you listen to 202, which is washington, d. C. The bureaucrats are out of control. Im glad we are looking more closely to what is happening in the security arena. Connect dots here. The i. R. S. Admitted to being scandalous. F. B. I. Told to us turn on the cell phone if they want to remotely. Any question what is going o with the data they are holding . Who knows what they are doing with it . They are evading a real war. The snooping and the spyi on americans is an invasion of the actual enemy, jihad and state sponsored islam. The egyptians are denouncing it. We cant make up our mind on the Muslim Brotherhood . So we have to worry about our own government spying and actively working against the enemy but against americans. They dont want to admit there is an enemy. We have to admit there are causes to look in specific people and the interest instead of a blanket approach. That says everybody is a suspect. That is unconstitutional. Its uncomfort to believe know they can take it out. A lot of this began with the patriot act. When we have a crisis we pass laws quickly. The patriot act if you read it, allowed for this to happen. Patriot act should go away. 9 11, i know you hate to hear this, but 9 11 is a decade old and time to move on. Time to move on from 9 11 . Yes. Eric how about this. All of those who accuse us of hiding behind the secury and whatnot are not wanting to be the most secure nation by defending what the Fourth Amendment over what the nsa has done, its false argument. Go ahead, quickly, john. Move on bob, what about never forget . I mean its disgusting. That is a day you shouldnt forget but a date that shouldnt tie you down for pursuit of getting a job or work or living freely. Eric what would you do if you won the lottery . Pa jurorty of mens say they would stay on the job. Believable or baloney . [ villain ] well mr. Baldwin. It appears our journey has come to a delightful end. Then i better use the capital one purchase eraser to redeem my venture miles for this trip. Purchase eraser . Its the easy way to erase any recent travel expense. I just pick a charge, like my flight with a few taps, its taken care of. Impressive baldwin. Does it work f hotels . Absolutely thank goodness. Mrs. Villain and i are planning our. You scare me. And i like it. Lets go whats in your wallet . Folks have suffered from frequent heartburn. Butetting heartburn and then treating day after day is a thing of the past. Block the acid with prilosec otc, and dont get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. Zero heartburn. Its a miracle and shocking. After 34 years and almost retirement last year, this happens. You dont have another choice. [ applause ] that guy is retiring after winning the lotto. A few poll says 68 of americans would keep working if they won 10 million in the lottery. Bobby, old by a, say you woke up tomorrow with 10 large in the pocket. Come to the five . Im coming to the five. But if i worked for Jonathan Hoenig i wouldnt show up to work. I tell you that. A number of peoe have jobs and get out of bed and they dont go running off to get there. 68 is vastly overstated. Eric wayne, in the break, they are worried are wayne and john okay. If you won 10 million youd give him a few million . I wouldnt give it to him, he is not a charitable case. But i would give a lot of it away. Bob is right. The 68 is when you are faced with Something Like that, somebody is going to give you 10 million. Yeah. I got a lot of gold bricks i will sell you, too. I dont believe it. Eric star, what about you . What is the next day like for you after winning 10 million . Im hopeful. I think the numberight be right. Most americans are decent hardworking people and glad to see it reflected in the number. 10 million is not a lot of money, frankly. The government is going to take half. Your family will come be at your door. You have to hire private security because you never know if someone wll try to kill you now. Forget 10 million. What about people with hundreds of millions or billionaires. Wealthy entrepreneurs still go to work in the morning. People get more out of work. They go to work. Any element of a Creative Life fuels a happy existence. Work has a value unto itself. Americans inventedvented the toe money. In to production and creation. In to thinking. Im not surprised if you won 10 million, most people would not want to thats in the true about the hedge funds. But you ask coal miners if they go work in the mine after winning 10 million. Eric that is a good point. They could do some productive work. Im convinced that many will. Eric that study, 68 they love their work. Eric but only 50 said they would go back to the work doing prior to that. For sure. Okay. That sounds clearer. Im worried about the 32 that wont. Eric last thought, jonathan. We talk about having to work as a negative, like i go to go to work. Its about dealing with reality. And succeeding and producing in whatever context. Work as a cashier or a ceo. There is a real value to it beyond the paycheck. Eric bobby . I just said jonathans, he is probably much more accustomed to dealing with ceos than cashiers so i think he can speak for ceos. Of i would not be putting m out front speaking for cashiers. Eric if i won 10 million in lottery, i would look forward to the next day sitting next to you on the five. Its highway robbery as it is. Eric well leave it there and say thank you very much to star parker and mr. Robert beckel for joining thus week. Coming up, o of the powerful political couplestaking a hit for how they hand the money. Who is hitting them is the real surprise. My mother made the best toffee in the world. Its delicious. So now weve turned her toffee into a business. My goal was to take an idea and make it happen. Im janet long and i formed my Toffee Company through legalzoom. Never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. Go to legalzoom. Com today and ke your business dream a reality. At legalzoom. Com we put the law on your side. And ke your business dream a reality. We replaced people with a machine. R, what . Customers didnt like it. So why do banks do it . Hello . Hello . if your bank doesnt let you talk to a real person 24 7, you need an ally. Hello . Ally bank. Your money needs an ally. Eric all right, time for what do i need to know for next week . Wayne, youre up first. You know, eric, you cant keep the lid on a steamettle forever. Interest rates will rise some day. Protect yourself. Look at tbt. Eric that goes up as the rates go up. Bonds go down, rate goes up, right . John, i think you are going to like that one . What do you think of tbt . I dont like leveraged funds. They are expensive and hard to own longererm. So wn you make the bet, look for sagg. As you point out we talk about the enumerable ways to bet against interest rates. At yearly highs. Of i think this is happening now. Higher rate is the biggest market trend i can see and sagg is betting against the s p 500 on the bond market. Eric you are betting on the same thing. Straight one sagg and wayne does it leverage with tbt. Great calls. Im not as wealthy as wayne. I cant afford the leverage. I dont have as much money as he does. Maybe you will. A great week for cost of freedom. Thank you for joining us. Before we go. When i took over cashin in last january, i wanted the show to shine a bright light on washington cronyism. We have done that and you responded. Ratingsoared. But came as a big surprise when the New York Times usually known for providing cover for the elite democrat spending class like the clintons, ran this story. It was a blistering investigativreport showing the Clinton Foundation as a nonprofit rife with crony capitalism and multimillion dollar deficit despite raking in nearly a half a billion dollars from 19972007. Maybe they are catching on. They are definitely watching. By the way, good job, New York Times. Its about time, i can say that. See you all on the five. Have a great weekend, everybody. Announcer the following program is brought to you by nopalea the antiinflammatory wellness drink from trivita. Stay tuned for an exciting offer for nopalea. A few years ago, trivita Founder Michael ellison introduced the world to nopalea. His goal was to bring wellness and a better quality of life to as many people suffering from inflammation as possible. Now heres what many are saying. People are tellg me i look 10 years younger because the pain is gone from my life. Ive been painfree for seven months. You do not understand what its like to get up every day and not have pain go through and golf, long car rides, do what you want and not have pain. Its made me feel younger. Im sleeping like a baby, and my grandkids cant ep