Transcripts For FBC The Willis Report 20150521

Summer of economic recovery. Remember that . Were still waiting. The latest evidence can be found in the Housing Market. Existing home sales unexpectedly dropped in april. Here to weigh in steve moore of the Heritage Foundation and liz harrington. Steve start with you. What happened to the housing recovery. I thought we were going great guns here . You know, gerri, this is so frustrating isnt it . Every time you think the economy is going to turn the corner, were going to get more rapid growth and i confess ive been fooled by the dead cat bounces myself in the past. We keep thinking, things are going to get better, and every time we get a report like this that is such a downer, and this is the pattern for six years since joe biden promised the summer of recovery. What were in right now is a rut a rut gerri, 2 growth that is not creating the jobs or the incomes that americans need and thats why half of the americans think were still in a recession. Gerri okay you packed in a lot my friend. Lets unpack. That turn to liz and give her a chance. Liz we had a bunch of housing initiatives. The president doing all kinds of things to boost ownership in this country. Pulling away fees from Mortgage Loans backed by the fha. All kinds of things done. Its not working. Right. This is just another sign of the Housing Market not coming back and as it relates to the entire economy. We have such slow growth, 0. 2 in the first quarter. We have 93 million americans out of the labor force. These are all signs of policies that have been in place that are not improving the economy. We still have job growth rate thats keeping up with population. Thats not a good recovery. Gerri im trying to break this all down and show people definitively topic by topic whats going on here. So, we talked about housing seen whats going on with housing not encouraging. You have some of the lowest rates in american history, even now. Theres every opportunity to buy, people are not taking it millennials are staying home, they dont have a job, obviously. Lets talk about obamacare. We were supposed to fix health care. That was the president s major initiative, and what has happened in the underinsured have doubled to 31 million. How is this possible . Steve . Thats a good question. Shoe it possible . We passed this 100 billion a year new entitlement that was supposed to solve the problem. I think people paying more out of pocket is not a bad thing. I think part of the problem is most americans are overinsured for health care and having americans pay more out of pocket is the way to drive down costs. That wasnt the intention of this bill. One of the reasons the outofpocket costs are rising is the premiums are so high. Supposed to be subsidized for people, and a lot of them are turning down obamacare especially young people. Gerri absolutely right. Its too expensive. We had a woman on the show who did not get obamacare or any coverage because it was too expensive for family. Her son had surgery she had to pay it herself and negotiated a lower fee. Ended up paying less than obamacare because she was able wow. Gerri its shocking. Liz to you, health care this is another failure. I believe i believe of this administration. Whats gone on . The prices are higher. People are getting less coverage. The study that came out is a liberal nonprofit that shows 31 million americans are still underinsured which contradicts the major reason why obamacare is passed. Were going to insure everybody. That hasnt happened. The deductibles from this report as well keep going up for people and the premium increases from rate requests from the Insurance Companies are going to go up more next year. Upwards of 36 in tennessee, 30 in maryland. All these promises that prices were going to go down, where people would be insured. They havent panned out under the obamacare law. Gerri you know at the top here, steve, you mentioned that poll about 60 of us believe were still in a recession. Unbelievable. Gerri that is astonishing enough. It is six years later now. You look at something simple like food stamps. 2009. 33 1 2 million americans on food stamps. Today 35. 7. How can this be possible when the recovery is ongoing for years and years and years . You dont understand gerri this is a stimulus economy. The more people on food stamps the better. We need more people to get food stamps and everything will be fine. I say that jokingly, democrats like nancy pelosi believe that. There was another report out that have not validated it. It says 100 million americans gerri now that are getting some form of Food Assistance from the United States federal government. Thats one out of three americans getting whether its School Lunch Program or nutrition programs or wic or food stamps. Thats a big problem when you have 100 Million People that are depending on taxpayers to put food on the table. Gerri and smaller and Smaller Group of people paying the taxes. Go right ahead liz. If i could validate that report for you steve i actually wrote that up. We spent 100 billion last year across 18 federal programs, the biggest is obviously food stamps. The total of all americans getting assistance in these 18 programs is 109 million. That is not a good sign of a growing economy. And by the way, i think its related to why so many the big mystery is why are so many people out of workforce when a lot of the employers cant find workers . I think we connect the dots here. A lot of people are on the government assistance programs and are not going to make a job that pays 15, 16 an hour, they can get food stamps unemployment assisted housing. We are in an entitlement state mentality. Its hitting young people who arent working. I have a teenager at home who should be working hes on the couch right now gosh thats not our fault steve. Im just saying. Thank you both for coming on appreciate your time. Thanks for having me. Thank you. Gerri now we wanted to know what you think. Heres our question tonight log onto gerriwillis. Com and vote. Ill share the results at the end of tonights show. Moving to the flying public. Is Delta Air Lines trying to hide info on fares . Thats what several Discount Travel sites like trip advisory are saying. If you want a great deal on a ticket where should you go . Founder of travel pulse mark murphy. Mark, tell me you say this is anticonsumer. Whats going on . Whats wrong with it . So right now, if you want to go search airline fares, you can go to Expedia Orbitz different sites. What delta is trying to do is take the fare out of secondary and tertiary sites, starting towards this creep where they want to pull fares like southwest has done for years now, out of Comparison Shopping sites. Southwest makes you go to their site to find fares, youre not going to see them in orbitz and other sites. Its part of the strategy. Thats what the traveling public should be aware of. They would have to go from airline to airline to airline at some point if this goes on and continues, to find a comparison fare for a flight from atlanta to l. A. For instance. Gerri so lots of shopping will be in order now. Why is delta pulling all this information from the sites . Does it cost money to put it on . Yes, the transaction costs associated with the websites. Typically the gds and they have fees. By taking the transaction directly on the airline site they dont have to worry about that. They cut the costs. Ironic because this all started back in the 1990s when the airlines formed a website called oyeah orbitz, isnt it ironic. They formed the expedias of the world just got acquired by expedia and fighting the Online Travel site. Gerri total 180. I have a dim recollection of this happened before. Didnt american and usair drop orbitz. Didnt we talk about this last summer . Yes, heres the irony, usair and american announced theyre merging and a few months later play hardball with orbitz because they wanted to negotiate lower fees for having their airfare feature there. Orbitz its a catch22. You need the inventory to bring the shoppers in. If you dont have it youre not going to get the traffic. We dont know how the negotiation went. My guess is orbitz lowered it a little bit. American came in with usair and you have it here today with delta. I think its arent consumer because consumers should be able to buy where they want to buy shop where they want to shop, and thats how it should be. Gerri quickly we have to go. If you have a word of advice for consumers here. I would talk to a travel agent. Sort through the fares, talk to a travel agent, talk to them. Theyll look at southwest and all the other sites, youre not going to spend hours trying to figure out the best route the best connection the best second city and give you techniques i cant mention on the air because were limited but a cool way to save money on air fare. Gerri theres more and more and more says mark. Coming to you. Gerri thanks for coming on. Good to see you. Thank you, always. Gerri more to come including a warning about new Charity Scams and our fox business exclusive Investigation Continues into the trouble that is in the skies. Did you see it last night in the shady faa hiring practices for air Traffic Controllers. Next one congressman tells us what, if anything lawmakers are doing . Let us know what you think . You can send an email, go to our website, gerriwillis. Com. 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[ girl ] my mom, she makes underwater fans that are powered by the moon. She can print Amazing Things right from her computer. [ whirring ] [ train whistle blows ] she makes trains that are friends with trees. My mom works at ge. Nbcfae. Gerri trouble in the skies, fox business investigation uncovering disturbing new hiring practices at the faa gaining National Attention on the capitol hill today. Just hours ago i spoke with republican congressman randy hullkren he is cosponsoring the controllers hiring act of 2015. He says the faa is jeopardizing flier safety. Very concerned what is happening. Seen a real change in the last 18 months how the faa is hiring air Traffic Controllers. With the latest discovery that came out recently. Huge questions that have to be answered. We have to have the faa come before congress to answer these questions of cheating that is going on with getting answers to certain groups of people to a biographical questionnaire that has become the gatekeeper of someone becoming an air Traffic Controller. It no longer is a look at qualifications or education or past history of service. Gerri all right, and on that score i want to detail that, because a lot of people may not have seen our special that aired last night. I want you to listen. This is the biographical this is a Personality Test that people who want to be air Traffic Controllers these are the things they have to talk about, listen to this. Let me read some of the questions from that test. What has been the major cause of your failures . A question that everyone seems to love is question number 21 which they ask the number of different High School Sports i participated in was and these are multiple choice questions. Gerri why does it matter if they played sports in high school . I cant imagine how it would. And there has to be another purpose here. And why would certain people be giving answers to certain groups of people to make sure that they pass it where others cant. We talked to so many people who have gone through education, spent money, have training or served in the military and have proven themselves in difficult circumstances to be trustworthy in important roles and have been excluded from serving because of this biographical questionnaire that is so random and has nothing to do with the work that would be required of them as an air Traffic Controller. We have questions that need to be answered. Need to pass my legislation that cosponsors bipartisan cosponsors have joined with us to make sure our skies are safe and we have the best and brightest serving in these important roles. Gerri frank who you work with in the house, says there has to be questions answered doesnt there need to be fullon hearings so that the American People can understand whats going on . I hope we ask. I would absolutely support that. Were pushing for that. We have been trying for the last 15 months time after time letter after letter trying to have meetings with the faa, they refuse to respond. This is unacceptable. Our skies and their safety are so important that weve got to have answers, the American People need to have answers. I absolutely do support having full hearings whatever it takes to get to the bottom of whats going on here. Gerri fox business has received a written response to the faa, i want to get part of that to you now. This is about the Personality Test i find so confounding. We asked them why they give that test . They said to increase objectivity and select applicants with the highest probability of success. In the faas rigorous Traffic Controller training process. Does that make sense to you . Makes no sense to me. Theres clearly other reasons they have to answer. This is a convenient response of theirs. Ive heard of current very Successful Air Traffic Controllers trying to pass the bioquestionnaire and not being able to do it. Theres another purpose here, and if thats what theyre trying to do why is someone on the inside cheating or allowing someone else to cheat help certain groups be able to pass this when others dont get that help. Thats not right. Thats not what the nation is about and ultimately not safe. Gerri adding fuel to the fire the allegations of cheating that not only people are chosen in a whimsical way but people get the test ahead of time. Congressman thank you so much for coming on the show. This is important thank you very much. Gerri breaking new developments tonight. Fox business adam shapiro joins us live with the latest in his exclusive investigation. Adam its not just hult gren looking into, this right . The champion of the cti students for several months. He introduced a bill last year but introduced the legislation you were talking about to help them. But whats key is frank who you mentioned and the congressman mentioned, hes the chairman of the aviation subcommittee that oversees the faa, the chairman spoke to fox business and said and we asked about the cheating, and he said thats the question we have been asking different players in the story since january. Weve asked the nbcfae the organization that the man whos tied to the cheating belongs to. Weve asked them to talk about all this since january. They wont. The faa refused. Other news organizations are calling. The faa refuses to answer questions. Gerri even now . Even now. Gerri even today after all of your reporting. What is remarkable as complicated as the story may seem, it boils down to two. Why did you throw away 3,000 students . Why did you do that . And the second thing is were these people cheating . The people we accuse of cheating never denied it. They said dont ask me questions dont call us they dont deny the cheating. If you didnt do it, say you didnt do it. They said reporters can not contact us, no comment. No comment. And the fact is its more than just this man, and thats what theyre afraid of coming out, and there needs to be perhaps either congressional hearings or someone needs to be put under oath. Gerri got to have hearings. I think the story needs to get out even more. Youve had a big impact with. This the American Public needs to know. Tell me, is there even more here to be reported . There is in regards to the nbcfae. You met matthew douglas. Gerri what a lovely man. Got 100 on the old test. Had a 4. 0 in college curriculum. Native american someone you would think would be a diverse candidate for all of. This hes also a member of the nbcfae. Its important that you know hes never spoken publicly in our report or otherwise about the nbcfae or shelton snow. Never said a word about him. Hes a member of the organization and the organization sent a letter because they saw him on our report yesterday and said this in email. It comes from the head of the nbcfae National Membership chair and she says im trying to verify that you are who you say you are, theres a certain individual with the same name as you belittling nbcfae. You can send me a photo and tell me when you met shelton snow . Did you have him down as your recruiter . What the nbcfae should be doing is responding to the allegation that they were cheating. They dont deny it. Gerri instead they are harassing their own. A 26yearold kid trying to do the right thing and they dont respond. And yes, we are saying to the nbcfae, you cheated and you dont deny it. Gerri theres going to be more on this my friend. This aint over by a long shot. Youve done a great job on this. Thank you so much for doing this on this show. I appreciate it. All right, there will be continued coverage of trouble in the skies. Go to foxbusiness. Com, great place to go if you want more information video of what people are saying, its all there. In the meantime the manhunt is on for the suspect in the washington mansion murder. How do you do that . As a new round of Charity Scams has been exposed. Advice on how not to be taken for a ride . [ male announcer ] Tora Bora Fallujah argonne khe sanh midway dak to normandy medina ridge the chosin reservoir these are places history will never forget but more important are the faces we will always remember. New york state is reinventing how we do business by leading the way on tax cuts. We cut the rates on personal income taxes. We enacted the lowest Corporate Tax rate since 1968. We eliminated the income tax on manufacturers altogether. With startupny, qualified businesses that start, expand or relocate to new york state pay no taxes for 10 years. All to grow our economy and create jobs. 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A tennessee family accused of using Cancer Charities to con donors out of 190 million from 2008 to 2012. But. And this sham and other scams, why were they able to be successful in this donation, and the ceo of greater good associates, welcome back to the show. Thank you. This particular thing is a scam, and i want you to sound off about it. Its appalling. Went on for 28 years. How is that possible . I think part of it is because the government has very little efficacy and ability to deal with these and things the tools they have with them when they do go off a of them are pathetic, and have made supposed to get 50 states together and the result is path equity as far as the individuals involved. Ski outings gym membership, dating services, college tuitions, i mean this is just disgusting i read today that they raised money saying they were going to take cancer kids to disney, and they went themselves instead. I mean whats going on here is unbelievable. How much are they being fined . How much did they race and how much are they being fined. Were talking almost 190 million. Now, the money thats supposedly left in the charity is going to go to other charities. But the issue is the people involved 75,000 was the biggest payout, 66,000 for the second person, the third is paying nothing. So youre saying thats their fine. Yeah. Thats pathetic, they were getting certainly six figure salaries and all these other perks, and this is how much they have to pay back . And thats as far as we go with this historic and unprecedented government i dont understand forget the government for a minute. How did other people not know that their money was going to the right thing. Well, unfortunately theres trust and people give their trust when they believe in a cause. Cancer. Right. And when it comes to cancer, especially when it comes to cancer, the American Public is so generous and so just impulsive gives when they hear these stories. 1 of the money ended up going into the hands. What should that be ideal . Well, we would like to see more than 75 typically, and this is so far from that. And the other things that happen a lot with some of the bad charities, and there are bad charities so you dont have enough money going to the cause itself, tell marketers sucked up a lot; right . Yeah. What else . What can we learn from this. Well, the bottom line is dont assume all charities are created equal. Because the charity has been the name cancer in it, all four of these have that, youve got to do some Research Like the Charity Navigator and if they dont rate the charities, youve got to do some research, finance governments, and results. Youve got to check it out. And the best tng is if its local, go and see them to make sure that theyre real and you dont have the son the exwife, and the husband, and the this and that making money off of peoples backs. That is so sad. Yeah. This one thanks for coming on. You did a great job explaining what the issue was. Now we know how to check out those charities. I just want to mention there is a list of charities americas Worst Charities if you want to find. I think weve got a full screen here as the first batch of her emails are released, were live from dc. Coming up you can call me shallow. But, i have a wandering eye. I mean, come on. National gives me the control to choose any car in the aisle i want. I could choose you. Or i could choose her if i like her more. And i do. Oh, the silent treatment. Real mature. So you wanna get out of here . Go national. Go like a pro. Do you want to know how hard it can be to breathe with copd . It can feel like this. Copd includes chronic bronchitis and emphysema. Spiriva is a oncedaily inhaled copd maintenance treatment that helps open my airways for a full 24 hours. Spiriva helps me breathe easier. Spiriva respimat does not replace rescue inhalers for sudden symptoms. 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Police believe the suspect in a murder of a wealthy washington d. C. Family and their housekeeper is in brooklyn. The suspect may have worked for the Fathers Company american iron works in the past. President obama trade agenda has cleared a policy hurdle in the senate. It would allow obama to have trade deals that obama could neither accept or reject or change. And some liquidators an investigation over flooring in china. The suspect suspended the sale from all lamb gnat flooring in china after an investigation was launched. And those are some of the stories in the news tonight. It looks like more trouble Hilary Clinton. New revelations are being revealed about her personal email account during her time as secretary of state. Details already being leaked as like that state Department Said to release the first batch of those emails. Fox business very own blake joins me now from dc with the very latest. Black. Hi, gerri the New York Times just posted on their we can say about 300 of what it says are the first batch of emails. September 13th 2012, one of the emails posted shows Hilary Clinton received a memo from her friend and former city driers be which said she had high level sources who systemed the attack on benghazi was a planned assault carried out by 21 terrorists. However, weve gone back and looked at clintons statements the very next day of the four dead americans clinton did not speak on the possibility of a planned terrorist raid, but did mention the antimuslim video, the Obama Administration pinned as the catalyst for the attack. And the times reports many of the emails were sensitive but unclassified. The state department would not confirm the emails today but did lay out the general guidelines for giving sensitive information. Listen here. Employees may from time to time use their judgment to send information over nonsbu system. I would also note that theres a difference from sending and receiving it as well. Now, we can tell you that the committee tends to depose her, and were told that that will happen in the near future. One member of the committee made it very clear earlier today, gerri, he is not too pleased with the process here. He took to the floor of the how is this afternoon and railed against the state department. First we moved a foot. Then we moved a yard. And now weve moved our position one mile. But the state department is not budged one inch. Now, his point there gerri, was the agency needs to speed up the release of the clinton emails, which really carry into the tens of thousands. The benghazi subset subsidy to be just a hundreds or so. Gerri. Jeez. Has the sedate Department Given my hints on when they will release these emails . Yeah. The benghazi emails, the sedate department would not verify, however their spokesperson says a release of the emails the committee has received the Benghazi Committee would happen quote very, very soon. Thats all they would say as of now gerri. Thats not really definitive, is it. Blake, thank you with that. Thank you. And with when we come back were looking out for you and your money, and your financial advisor, are you too plate to play the bull market and now millions and millions of cars are being recalled, what should you expect when you take your car in to get fixed . Thats next and heres your consumer gauge with the numbers that mean the most to you. Hell be right back ive smoked a lot and quit a lot but ended up nowhere. Now i use this. The nicoderm cq patch, with unique extended release Technology Helps prevent the urge to smoke all day. I want this time to be my last time. Thats why i choose nicoderm cq. 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Visit the dream machine event today for up to 3,500 towards purchase. On tuesday japanese air bag maker takata finally admitting near 34 million vehicles are defected with exploding airbags, which have been connected to six deaths and more than 100 injuries. With this recall, the largest in u. S. History, how long will these take. With my now sean, sean, welcome back to the show. You know, you had an interesting analysis of how all this came down. This isnt just one defective part. What went wrong . You know, this is an interesting problem because it isnt one defect, its a multitude of defects. Weve got manufacturing materials, and design problems that are contribute to this, and thats not unlike other problems that we have these largescale and it is a big crisis. You know, at 34 millionaire bags thats a Bigger Consumer product recall than tylenol in 1982. I mean its almost unimaginable how much work has to be done. Thats one in seven cars on the road of the 250 million on the road. How long is this going to take . Well, you know, i think even with the stepped up recall that theyre doing now in bringing other manufacturers to do Replacement Parts were still looking at in excess a year probably closer to two in completion to get all the parts available. So no, matter how look at this, you know, consumers are left holding the bag. Theyve got a defective car that they cant even get fixed if they wanted to. Well, thats my next question. So if you have one of these cars, first of all its not easy to to have had out if youre even driving a car with takata airbags you call your dealer. Are they going to have the right information . You know, probably the best way to do this right now is use the vin look up tool on the website but also each of the manufacturers has their own lookup, which is where it draws its data from anywhere. Softball the lookup tool with the vin thats your best bet and keep doing it for the next couple of weeks until youre sure. Wow. The other thing thats important, though, remember last year we had an excess of 60 million cars recalled alone, a lot of folks dont realize their car is recalled for other matters. So that vin is the vehicle identification number, its up on the dash or on the door right by the windscreen, safer car. Gov is the website but you know, look, its not acceptable that you have to wait a year to get this thing fix. Should web asking dealers to disconnect the air bag . You know, i dont think thats a great idea. You know the problem here, though, is if you step it back i mean the reason why were in this crisis today is a failure of the manufactures who deal with the problem when they knew about it. This issue goes back to 2004, the very first recall started in 2004, and it was a trickle out of what we call a rolling recall. And, unfortunately, there wasnt a lot of enforcement from the government. They werent looking over these problems. They had an opportunity to investigate in 2009, and it took the word of the manufacturers and it was all done. Thats where the problem stems. Now that we have a stronger cop on the beat, its very likely were going to see more recalls step up at a quicker pace. Thats what needs to happen. But in the interim were dealing with a problem here that consumers are going to be stuck with for years. Got to get it fixed as fast as possible. Sean, thank you for coming on the show tonight; right . Grate job. Thank you. Well, from a car to the wallet; right . Is the bull market finally losing some stem . Today the market pushed the dow to 2, and the s p 500 closed a point above its last closing high with a above average Trading Volume suggests that trying are just not that enthusiastic, so is a correction coming and how is your money and its great to have you here, david. Great to see you. I know youre not a market time, but lots of people out there have waited to put money into this market and theyre excited about the fact that it maybe strong. Thats right. And they may be jumping in at this moment. What douse to them. Well, hopefully theyre not jumping if, and ive been coming on your show for five years telling people long term investing diversify ports, did he just say that again . But its what works and the fact that these last longer than what people expect. It lasts on average 5 1 2 years. Were i dont understand that. Well, we are but markets when they have a correction, those bear markets go down an average of 20 . Theyre shortterm. In fact, the average bear market is less than 17 months. 15 months on average. You mean for a very long one, though. Right. And thats why so many people have sat this out. Back to my question. I want you to answer my question, which is if youre somebody who has had your money on the sidelines and you finally chosen now is the time to get in, is that the right thing to do. It all depends on what youre getting into. From cash all 100 stocks would be foolish any time. But is there something that makes since. Sitting down with your football Financial Planner and look at the portfolios, we have 19 Asset Classes divided in 40 guns, 7,000 positions. Were not trying to time the market. Were not trying to predict which is going to go up. I think its a fools game to try to predict the market. It doesnt work. But i want to discussed. Sit back because weve got a lot of news; right . Weve got an aging bull market, its climbed through all of those. The federal reverse may come in and raise rates this fall, when that happens, what is going to be the psychology of investors and what should then doing will be the has been weve been talking about raising rates now for seven years. I know. So we just found out were got an raise rates, we think its at the end of the year to next year when rates start to go up. We the bond prices to come down because they also do and the market pulls back slightly. The key here is balancing those portfolios, especially zero coupon bonds,. Listen to this. This is the important part right here. This is not what he says all the time. So tell me, again. Bond portfolio. Whats the smart thing to do. Youve got to be taken the duration from a long term to shortterm bond portfolio. What did you mean by shortterm . Less than five years, long term is anything over 10, 15, 20 years, but really reducing the exposure of a long term and anything that is junky. High yield. Anything that youve really gone out and reached for that yield because youre trying to get that yield in a mark where the Interest Rates are so low. Those will be the portfolios that get hit the hardest. So its really taking advantage and protecting portfolios because rates will come up. The question wont be when they come up. It will be how many times did they come up off the first rate increase. And thats what we all be waiting for after we see that. No kidding and thats going to be the big question. People arent even thinking about that. Ive got to go call my advisory. Ill be right back. Great to see you. So good to see you. Most welcome. And the most watched motor sport in the country indy car raising with what finds itself in the need of a tuneup. If youre taking multiple medications does your mouth often feel dry . A dry mouth can be a side effect of many medications. But it can also lead to tooth decay and bad breath. Thats why theres biotene available as an oral rinse toothpaste, spray or gel. Biotene can provide soothing relief and it helps keep your mouth healthy too. Remember, while your medication is doing you good a dry mouth isnt biotene, for people who suffer from a dry mouth. Hi, im matt mccoy. How long have you had your Car Insurance . I ask because i had mine for over 20 years, youre driving along, having a perfectly nice day, when out of nowhere a pickup truck slams into your brand new car. One second it wasnt there and the next second. Boom youve had your first accident. Now you have to make your first claim. So you talk to your Insurance Company and. Boom youre blindsided for a second time. They wont give you enough money to replace your brand new car. Dont those people know youre already shaken up . Liberty mutuals new car replacement will pay for the entire value of your car plus depreciation. Call and for drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch to Liberty Mutual insurance and you could save up to 423 dollars. Call Liberty Mutual for a free quote today at see Car Insurance in a whole new light. Liberty mutual insurance. What has happened to indycar racing . It used to be one of the most watched motor sports, but now falling behind nascar in popularity and viewership. But car racers are trying to change that. Fox business jeff joins us now from the Indianapolis Motor Speedway with some of the changes coming. I tell you gerri, right here along pit row, this is where a lot of the drivers will come and make their pit stop, including one guy we talked to earlier today. Stage,est youngster driver on the indy circuit. He says he is the future of indycar racing. This of course different from nascar, and i asked why did he choose indy cars with all the old history versus nascar, which is now a little bit more popular. Heres what he said. The appeal of the car the speed, the adrenaline, came to my first race when i was eight years old, and it happened to be the indianapolis 500, and from that time on, i loved open wheel, and i want to fall in those footsteps. It could be the future. I tell you but theres plenty of history here. This is the Largest Sporting venue, gerri, in the world as you know. And they used to call it the brick yard. Take a look at i think laurie is able to get a shot out there of what is left of the brick yard. It is one yard of before this accident. I talked to aj today, when he was asked well, what was it like running here when is the first time was all before this accident . And he said if you had any fillings in your teeth, pretty good. Now these cars travel faster than any of the nascar vehicles, some of these cars get up to 230 miles per hour. It is extraordinary to see them fly by. Theyre done running today but its going to be a hell of a race on sunday. Jeff, thank you for that. And now we want to hear from you. Guess what a quarter of americans under insured home sale slipping, even the fed isnt optimistic. Have obamas policies failed . Heres what some of you are posting on facebook. Eddie writes this. The insurance increases since obamacare is putting Small Businesses out of business. And dennis says wait. Has he led congress to pass a single budget since he was president . Very funny. In addition to following me on twitter and faq sure to like fox business on facebook. And heres are some of your emails on deflate gate. Jarrold from oregon writes im a seahawks fan but if anybody believes a pro quarterback like tom brady is hampered, they must be a soccer fan. And im not a brady fan but its based on the deposition, not the preponderance of the evidence in the end its the nfls own fault because of shotty regulations. And brady apparently knew his balls were being deflated and did not disclose this to officials. If the officials would have done their job to make shyou are that they were properly inflated, this wouldnt have happened. We love hearing from you. Send me an email. And these to gerri. Com. Well be right back with the answer to our question of the day. Have obamas economic policies failed . Stay with us [ girl ] my mom, she makes underwater fans that are powered by the moon. She can print Amazing Things right from her computer. [ whirring ] [ train whistle blows ] she makes trains that are friends with trees. My mom works at ge. The economy moving along in a snails pace with home sales slipping last month. So much for the back home. And have back homes economic policies failed . Thats the question we asked on gerri willis. Com. Be sure to log onto gerriwillis. Com for a online question every weekday. And finally this hour it is the end of an era David Letterman has signed off the host of cbs late show, he kicked off his retirement last night with the help of four president s and a top ten list featuring, well, pretty a list celebrities. Last nights show ran 17 minutes over. Letterman spent 33 years hosting late night on both cbs and nbc and more than 6,000 shows. Think about that. If you watch the farewell show, you were among the merely 14 Million Viewers and according to nielson, it was his biggest audience in nearly 21 years. Look at that. The timewise nobody. The New York Post reporting today that the letterman set is already in a cbs dumpster believe it or not. And thats it for tonight any willis report. Thanks for joining us and dont forget to dvr the show. Making money with Charles Payne is up next. We will see you tomorrow. Im charles, and youre watching making money. You know and not knowing how to control itself forget its ferrousity and it will go asleep in her lap and thus the hunters take it. Now, today the unicorn is the hunter and the hunted are you suckers that lined up to pay too much for the stocks when had go public. Thats right. Unicorns are mythical horses, but today theyre also private startups worth 1 billion or more. And ive got to say being worth a lot of money on paper is great monetizing it is