Republicans sharpening their budget knives. Democrats just licking their political shops. Frankly, we dont know what all the fuss is about. Welcome, everybody. Im cheryl casone. Republicans planning to outdo paul ryan with a budget blueprint that has democrats crying. We are wondering why. This is a ten year plan. In the lot can change into an years. Does look at how things change the last ten years. Ten years ago barack obama was unknown. In years ago Lance Armstrong was like to. In years ago there was no iphone. I think it was called itunes. A lot has happened in ten years. It makes you wonder what will happen in the next ten years which is making our next guest wonder if the fuss over these cuts is all for nothing. To lori rothman, steve more, and taught on a very real and scary calendar working against all of us. No, i have the feeling that you have a lot to say about what is not going to happen in the next ten years which will probably be this budget. Well, you know, when i first came to washington in the early 1980s i never taught was in the Reagan White House at that time. The convention was to do to end a threeyear budgets and then it became for year end and fiveyear. Now we are doing these ten year. They come up with these fantasy numbers. They projected they are going to cut spending in six, seven, eight, nine, ten years from now. The predictions never come true. I think we ought to get back to the idea of just budging and maybe one or two or three years. You know, the projections, as you said, you cannot have any idea what the budget will look like continues. Just one statistic to demonstrate that point. You go back to the year 2000. We had a 200 billion Budget Surplus, and most analysts thought throughout the next decade we would have surpluses. In fact, we ran a 6 trillion in debt. Cheryl you know, if you look back over the last ten years and look forward to in years, i think most of us can agree, we dont trust what congress will duke. Approval ratings and now the single digits. We are expecting them to come up with a plan that will balance the budget. This function is the name of the name of the game. Kicking the can is the best way to describe what happens. Think of the economy and where it could be in tin years. Unemployment, the rate of inflation with the Federal Reserve policies, we might be looking in a significant threat of inflation. So in the amount of budget cutting that they do, the value of dollars cut will be diminished. Cheryl she has a great point, and there is another issue. In fact, if you look at overall what congress can are cannot do in the next and heres, theyre going to change their minds. We have seen that with the fight over entitlement programs. Everyone comes in saying there will address medicare, Social Security and medicaid, and they never do it because reelection comes of senate and later. Well, in fact, we should be celebrating an anniversary, popping champagne corks because it was exactly 12 years ago tomorrow that Alan Greenspan testified before congress and said the biggest challenge this country has in terms of fiscal issues is that the Budget Surplus is getting so large that we will have no choice but to buy stock in private companies. Twelve years later it turns out he was partly right. We all stocking general motors. The Budget Surpluses, as steve mentioned, never added up. Things change, of course. We could not imagine the iphone, the internet, the long underwear. Some things dont change in the the behavior of politicians. One hundred years ago mark twain citys top politician with his hands in his own pockets that does not change. We need to put handcuffs or manacles or something of politicians, some discipline that they cannot read aloud of. Cheryl i wish that worked. We have seen so much discipline and out of our in washington across the Border Command at the same time i looked at the issues facing the country right now. It is all about that debt. It keeps ballooning. We will have this debt ceiling fight which will begin in a few weeks and then we will be back to square one. What we have faith in these guys . Well, let me mention another statistic to give emphasis to this point that they cannot predict with these deficits and the spending will be like. You know, on the interestrate issue, if we just have a 100 basis point increase in interest rate, that adds 1 trillion to the debt of the next ten years. These numbers are incredibly sensitive to changes in the economy, employment, interest rates, inflation. But when congress cannot find another. That is the problem with these budgets. It emphasizes, start to make longterm changes in the law with respect to the way these entitlements work. And if you do that you can change over a long time the direction of how much these programs like Social Security, medicare, medicaid go into debt. [talking over each other] i just wanted to come in here. They would not even consider another ratings downgrade last the medium term budget was not satisfactory, so theyre not even looking for a short term. Theyre not even concerned about the timeframe. Look, we can talk about all the unknowns. We do have something that our not something that is known. Americans are getting older fillies 76 million baby boomers, 10,000 a day or so going to retire. Number two, we will have to pay off the debt were racking up. We do know that we have a problem. No, steves point is well taken. In fact, as he recalls, it was back during the early 80s 30 years ago that Ronald Reagan when with Alan Greenspan and congress ted gets Social Security on a path that will leave it away from going over the cliff. That was a good longterm plan for which reagan, of course, never got credit. But he has saved us overtime trillions of dollars. Some longterm planning intendments is absolutely necessary. Cheryl want to bring in lori, and this is a key point. Talk about longterm or shortterm, its about the fed. This is one thing that will change with a congress likes of our not. They will be budget. If inflation rises in the next to you know, 18 months. A lot of economists are predicting. Continues to be more. Even if they rise 100 basis points it could broil the market. So we will have to see, but i think that is a risk a lot of people are not ready to talk about. Cheryl arrest to the economy and that is somewhere steven was going, but im not a time. Thank you very much. Good to have all your michele. Later on the show, were going to go old school. Been there. Does not like where this is headed. And after sandy, the Approval Rating through the roof. What about thousands still without our roof. Coming next, the homeowner who is better because he says fema left him out in the bitter cold. Aww man. [ male announcer ] returns are easy with free pickup from the u. S. Postal service. Well even drop off boxes if you need them. Visit usps. Com pay, print, and have it picked up for free. Any time of year. Nice sweater. Thank you. Cheryl governors are on fire. Approval ratings have never been higher. They are handling of the storm in the push to get aid for victims pumping up their popularity. But three months after the storm thousands of people in new york and new jersey are freezing and still getting the Cold Shoulder from steep fema. Displaced from his home. Why are you not getting the assistance that you were promised by fema . We are dealing with the rapid repair trying to get a boiler and hot water heater. Its not working so well. Cheryl are you in contact with them . And calling you . Does anyone come to check on you . Know you were displaced in an apartment now. The cost of setting up. Are you getting in the reach of all . We signed up with them on the 15th of november. They came on dec. Third, that the boiler and hot water heater and left and we have not seen until last week. Cheryl with the decision last week . Last week they came and drop the boiler and hot water heater off and put it. Its still not in yet. Its still not finished. There are still waiting on parts. Leaks. Its just a fiasco. You get very frustrated. You try calling people. No one gets back to you. All numbers people call you from and those numbers a disconnected. You try to get a lot of the contractors to call you, they dont get back to you prodigiously you hanging. Before i got on the phone with you guys went to the house. I still dont have the parts they promised us for this boiler to turn on the spoiler. I Call Customer Service and their like, well, we have to get to the contractor and see with the contractor says. I call this person from the contractor that i have a number of currencies in the Customer Service and does not know anything about it has to get all the other contractors. I call this super and he has no clue. Parts yesterday, today. Is just a whole fiasco. Cheryl youre getting the runaround. Your definitely getting the runaround, and we have heard similar stories. The timeframe is shocking. I mean, what about the insurance company. I mean, lord knows that they have warble reputations for being anything but helpful. Have they come through for you and all . Did you have the proper coverage . We have Flood Insurance and homeowners insurance. They just came to us like the beginning of january with a check. Two months down the line. A lot of stuff that we need work on. My roof fixed im curious if you have neighbors better in the same situation and if you could talk to the governor right now t would you say . Would be your message to the governor . You know, he needs to revamp his rapid repair thing. It is not working like this status posted. We have people nexttolast that dont have insurance. They are pretty much relying on fema and rapid repair for all there, you know, repair work. And its not getting done. Its a starting to get done now. You know, you talk to people in rapid repair. The governors department. You know, so many people out there that we have to take care of. Is just overwhelming for us. Then hire more people. You know, you have the money. Hire more people. The contractors down there in breezy point submitting work payment for work. They have not finished yet. Cheryl i have to tell you, the new york taxpayer myself, i speak for many people when assailant like to see my tax dollars go to you and the people and breezy point. Good luck to you. Thank you for sharing your story. We appreciate it. Thanks. Cheryl well, forget about how much apple is selling. What about what bull is a feeling. The internet china is going public with your private invoke. It dont bother telling th cheryl let me be brief. Tonight we are not going to be so brief. Our lawyers taking on two topics tonight. The first, privacy. Critics now saying that google is working with the government to breach your privacy. In the past six months nearly 70 percent of all Law Enforcement requests for your information are coming without a warrant. Lawsuits were rightfully come from this. But what theyre doing is perfectly legal. I have to start with you on that one. What do you mean, perfectly legal . How so . There has to be a limit to what is shared with the tories. Well, any time you sign up for anything on line you have to read what those very long terms of service are. And in the case of bill will it does not say that your information is strictly confidential or that it cannot be shared with Law Enforcement if it asks. So you have to know what youre getting into. It is a caveat. Read those terms in your service agreement, which most people to say, you know, they get to the end and check the box and say, i agree. Cheryl a thousand paragraphs. Well, im not saying its not. And the stand that, but if youre going to sign a contract that you are now reading then you are on the hook for what the consequences are. So anytime you put something on line you need to be aware that other people may get it. And so do has the right to do what it is doing. If you like to go to another service that may give you more protection. Cheryl but the fact that the authorities are in on this command i understand that now, you know, federal and local authorities use these types of searches to find criminals. Recently want the bad guys to be caught, but at the same time, you know, the regular right of an american to have a certain amount of privacy when theyre not doing anything wrong, had a weak balance that . Good job. You cannot wave. You have to think about, do you have a legitimate expectation of privacy . You have a legitimate expectation of privacy in your body to lie in your home, in your papers, and i would stay in your private emails to people. That is what they were talking about in this situation. If you have a legitimate expectation in your private conversation to your boyfriend, to your friends, three your emails, then the Fourth Amendment comes in. That means that the Fourth Amendment prohibits unreasonable searches from the government. The police officers. They cannot come in to these private areas without a warrant. In this article talked about that we are all referring to and what bill bluestocking about, hey, we dont want this to be happening either because only 22 percent of the time they came in with a warrant. They went in and took 15,000 people emails without a warrant. And we dont want this to happen cheryl and youre talking about the law, the contract and this is the way it is. But at the same time, a 26 yearold law, though we need to kind every write the books . A lot has happened in 26 years. The internet was invented, for instance. Im not saying that there should not be some the stricter regulation, but as it stands now, google is not doing anything wrong and franklin should be applauded for letting everybody know what is actually going on. The law can be changed. So you know, we have to start somewhere. To say that schools should not be giving misinformation to Law Enforcement when it asks for services asks or serves a subpoena clammy you have a privilege with the person youre communicating with which bus people dont. There is no legal privilege to communicate. Getting confused. [talking over each other] clear headed. Thank you. [talking over each other] the privileges from the government intruding. There is a privilege with the government intruding. And if you want to go to the bar and bend over a chair backwards with the minister on what you are doing about ma and drinking shots and it gets taken a picture and it hits, you know, the internet, youre right, that is not privileged. That is the internet and facebook, that was your fault because it was in the public and is your problem because dignity is something that we protect the norms of respect for each other. You messed up. Cheryl none of us would never do anything like that. Ever. I need to move on to the next topic. We are good girls. I want to bring this next topic to you. The controversy that could cause a subway lots of bread. Lawsuits popping up claiming 5 for longs are shorter than a foot. One person even claiming that customers were ripped off to the chair of 142 million would seem ridiculous. The lawyers. Subway seems fair enough. Esther, do they have a case in this misrepresentation of a foot long sandwich which turns out is not a foot long . I guess in this case size does matter. You want to have if they had just said they had a large sandwich. This is more fun with just the girls. If you are saying that you had a foot long sandwich as opposed to a large sandwich or a big sandwich, then youre taking the risk that if youre not going to be the entire foot people are going to get upset. What i would say is that, anybody following the subway diet, if they had an inch less of cards and whatever else is on the sandwich then maybe thats a good thing. But if youre paying for the 12 inches, people with the pitchfork. So either say we have really long sandwiches for start serving the ones that are actually foot long. Cheryl but literally about to sue over into the sandwich. This is amazing, and it is a great story, but at the same time, more than 100 million in damages . Come on. Im old school. Being a criminal defense attorney i think the court is sacred. Real important things. And i think that their commitment to their customers is tarnished. The reputation is heard. Think the punishment right now is significant. I think that the case that theyre talking about, he has 57 per year for 14 years. If he had thousand subs, you know, and it is an inch, its like 500 bucks. You dont sue over that. I just think its ridiculous. Cheryl do you think that this is just another example that we need tort reform in this country . Well, i dont know if i would go that far, but this is you know, this is a strange case. But i will say, i think he is trying to do to make a point or maybe get some publicity. Again, someone has to start somewhere if youre going to try to hold a big company like subway accountable. I guess this is the way you start. But i dont know that the lawsuit is really going to get very far. They would have to really prove that the company knew that it was selling some stock less than a foot. I dont know if the plaintiff is going to be able to prove that. Cheryl the lawyer in this case to keep a straight face. That is the moral of this. How will he stand in court and argue this case. Stranger things have happened. Ladies to my have to leave it there, but thank you. Very fine to have you on the show. All right. Okay. The Mainstream Media still thinks that he is dreamy. Meet the billionaire media mogul who says he is a nightmare for the economy. I feel like i should pitch myself right now. I cannot believe i have this Vantage Point of history in the making [ male announcer ] how can power conmption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u. S. . At t. Rowe price, we understand the connections of a complex, global economy. Its just one reason over 75 of our mutual funds beat their 10year lipper average. Twe price. Invest with confidence. Request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. Need your president. Be your president. I feel like i should pitch myself right now. I cant believe i have this Vantage Point of history in the making. Cheryl okay. Halftime. The media is going full throttle with