Road either . Two things to understand. First of all, the Social Security trust fund is nothing but ious no real assets there. All this talk about whether it runs out in 2034 or 2033 is irrelevant. The government can only cash the ious by taxing us more. Heres the bigger problem that i have. What Elizabeth Warren is trying to encourage Hillary Clinton to do. We are running deficits in the Social Security program, and as more and more baby boomers retire, the deficits get larger and as a matter of fact if you look over the next 75 year, you take all the deficits adjust them for inflation youre talking about 40 trillion dollars of red ink. So the notion that we should already in a deep hole dig the hole deeper is crazy. But every time anybody gets honest and says im sorry but the promises that have been made to you, theres no way the smath going to work where they can be kept. And the problem is they will break the promises when you and i are little old men, and we wont be able to do anything about it. Theyll say im sorry, we overpromised. Then what . Im a little bit hopeful that what weve seen in europe over the last several years with the welfare states beginning to go bankrupt and suffering economic disarray, im hoping that that has sunk into the politicians in washington where they realize that at some point, you get to a very, very bad spot, if you continue to promise more and more spending beyond the private sectors capacity to finance it. So maybe, just maybe even though normally im cynical i think perhaps the kind of demagoguery were seeing out of Elizabeth Warren wont go as far as it used to. Well, the people say dont cut my benefits. Smaller government yeah, yeah youre great dan, terrific. Dont cut my benefits. Beside that i paid into, it thats the other argument. Well, if we were talking about cutting Social Security benefits youre right. Wed have the normal political opposition. Whats talked about on the left now is increasing the benefits, and maybe 20 years ago or go back to nixons years when he increased benefits, maybe cutting increasing benefits used to be politically popular but i think that today, theres a little bit more sobriety for lack of a better phrase on capitol hill precisely because we see from greece and other European Countries the very bad things that happen when you, in effect, dig the hole deeper than it already is. I hope youre right, i hope the message gets through. Dan mitchell from cato. Thank you very much. If markets are worried about our spending they have a funny way of showing it. Japan dashing out of their recession. Nikkei hitting a 20,000 for the first time in 15 years. This as european stocks climb to a new record as well. Marking the latest advance in a rather blistering rally over in europe and even the markets here are seeing a Third Straight week of gains and look at the levels that were at. To market watchers gary and d. R. On why our stocks are shrugging off the Government Spending spree. Gary start with you, everybody is ignoring it. Look theres two words that are take over the markets and thats Central Banks. The japan market, the European Market took off the day. They both announced massive money Printing Campaign and have not looked back. The currencies are being crushed so against the currencies not doing as well. Thats basically the story. Markets are ignoring 18 trillion in debt. Markets are ignoring 500 billion deficits each year that our president takes a victory lap on, and i think there will be a day of reckoning down the road its not here yet. The day of reckoning d. R. We kept hearing how theyre going to let the air out of balloon, there was going to be a soft landing warm talk, what do you think . Gary hit the nail on the head in that all these equity markets are really inflated, really going up still, and the u. S. Is the strongest bull in the barn yard for several years when we cut qe and it transferred over, as gary said to japan china and to europe, since the late 2014. Theyve all been outgrowing us. Weve all gotten drunk globally on quantitative easing wine and the Central Banks want to engineer soft landing that will keep us from getting a hangover. And history shows us that were not very good at that. 2007, 2008 showed we did not understand what a bubble we had built. That time in real estate inequities, the soft landing is tough to navigate. Gary always the same with the real estate bubble in 2007 and market bubble in 2008. You better get in before because the guy next door just bought a house and doubled it in six weeks. You better get in well look its always good until its bad. And i remember back in 06 people lining up in miami at a trailer putting down no money on a condo that would never be built. Get the paperwork and sell it for 50,000 profit a week later and, of course that ended. And you go back to 99 where you had companies with no sales but the dot com next to it. I really do believe were getting into that atmosphere but again bubbles can last a long time and take a long time. There is more until this one ends. Why . They printed 13, 14 trillion bucks the Central Banks and a few trillion more to go. If you have a blip here janet yellen will restart printing press, and notice they keep teasing raising rates but nothing happens there either. D. R. , are you recommending taking money off the table, playing a little defense here . I think the smartest thing for people to do with money is they have new money to put to work. I dont think its time to take it off yet. Bubbles tend to last longer than we imagine, and the last legs up tend to be the most explosive once. So you dont want to really take money off the table while hitting new highs. What you might want to do with new money is put it to work in more defensive sector put it to work in health care, which is already really strong. Consumer staples which is strong but would do well in defensive times if the market does start to have a pullback. So have a plan for level to start take money off the table but not while were on an upswing, tom. Gary and d. R. Thank you guys, thank you very much. Good talking to you. Hows this for odd timing . Hillary clinton set to make anticipated announcement on a quiet sunday, and shell do it via twitter. This, as the younger crowd is wrapped up lined up for the apple watch release, and the older crowd is glued in front of the tv watching the masters. Kevin and republican fundraiser noel nickpower, wondering if Hillary Clinton is trying to enter the race under the radar, and nicole start with you. What do you think . Absolutely i think shes trying to get in under the radar. I think thats whats going to be the republicans, shes trying to get in under the radar to avoid press questioning about emails and the Clinton Foundation. The left is going to say this is brilliant because shes exercising social media and thats the wave of the future, but the real thing is as a strategist and national fundraiser, what shes doing is shes down in the polls, number one, and number two when someone makes an announcement the two things that happen is a, they get a bump in the polls usually and b, it jumped up fundraising. So i think all of this is a little more calculated than what we see at hand. Kevin, this is not a cookie cutter race. Everybody knows Hillary Clinton, everybody has an opinion about her. How are they going to try and shift that . Well theres no clear formidable democratic opponent that the point for the former secretary of state to face off against. And so i think that shes opting to take a much more low key announcement if you will because theres really no one else for her to face. We all saw the speeches from senators rand paul and ted cruz when they were announcing senator marco rubio expecting to follow suit next week. There was Palpable Energy there right . I think that really the question for Hillary Clinton is not only is the left ready for hillary but is Hillary Clinton ready for primetime . Shes got to show the energy and momentum heading into the cycle. David mercer is joining us. David says that hillary is going to make noise no matter how or when she announces. No question about that. But this is a different type of candidate than anybody that we have seen. I dont think so although you will find her coming up with solutions to the pressing issues that we deal with, or that are in front of us but at the same time, i will say that she has been in primetime, will be in primetime, and i think its a very smart way of going about it on sunday when peoples attention will be through social media, theyll be through the tv and whatever and i guarantee you and trust you know, tom, fox news will be covering it and everybody else on what is going to happen and unfold which is her going small in the sense of talk directly to the American People. Shell be going to iowa and speaking with small gatherings of people rather than an announcement through one media outlet or another. And i think that is a difference that you might see. Some may not like it i. E. The networks or cable, or what have you, theyll be covering it as well. And theyll be directly talking to the American People about her ideas her vision based on her leadership and experience going forward, and that will be the makings of her campaign for 2016. Nicole, listen, everybody is trying to make this a competitive race like the media horse race or boxing match. Is this really going the democrats will circle the wagons, come together and it will be a coronation . Yes, one in the same. And democrats are not, in my opinion the democrats are not as a fractured of a party with the tea party in the establishment. The democrats are good about rallying around. Shes a different candidate. Shes a different candidate because we dont expect much of her the bar is so low. Youve got murder youve got email scandal what not. You dont really expect too much out of her, anyway. Kevin, lets get the foundation question in here all of those things have to be brought up as well. How is she going to get threw . Im not so sure about murder allegations but i nor am i. With the Clinton Foundation there are some questions that she is going to have to answer with regards to how republicans are going try to paint her as a crony capitalist if you will. On a policy standpoint when shes in the iowa settings at state fairs and New Hampshire coffee shops, shes going to have to announce her policy proposals because there is a fracture within the Democratic Party on substantial Economic Issues such as trade policy and dodd frank implementation senator Elizabeth Warren was calling on former secretary of state clinton to announce and make clear her policy issues. So i do think she has a lot of Unanswered Questions on the foundation front and on a policy front that shes going to have to answer. I think so, too. Tom, if i might just add. Very quickly. If i might . This primary as we have seen in the last couple of months even before this candidate is likely to announce on sunday is against Hillary Clinton as weve heard echoed from nicole earlier. All the candidates have tried to do everything they can to dissuade hillary, secretary Hillary Clinton from running. Shes going to be running and focused on the american middle class, on prosperity and security rather than the other candidates who the message is allimportant they got a lot of money to do it. David noelle kevin, appreciate you all coming on. We have a lot of you asking wheres neil . And we just found out our reporters caught neil in line for an apple watch. Why he and you will be waiting a long long time . But first you heard it here first, making waves nationally. Companies caught discriminating against conservatives. The explosive fallout after this. One person told me they heard that if someones a republican their resume is off the list. The real question that needs to be asked is what is it that we can do that is impactful . What the cloud enables is computing to empower cancer researchers. It used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. Whatever i can do to help compute a cure for cancer, thats what id like to do. The pursuit of healthier. It begins from the second were born. After all, healthier doesnt happen all by itself. It needs to be earned. Every day. Using wellness to keep away illness. And believing that a single life can be made better by millions of others. Healthier takes somebody who can power modern health care. By connecting every single part of it. For as the world keeps on searching for healthier. Were here to make healthier happen. Optum. Healthier is here. People ship all kinds of things. But what if that thing is a few hundred thousand doses of flu vaccine. That need to be kept at 41 degrees. While being shipped to a country where its 90 degrees. In the shade. Sound hard . Yeah. Does that mean people in laos shouldnt get their vaccine . We didnt think so. From figuring it out to getting it done, were here to help. Tom Jesse Jackson wants racial diversity in Silicon Valley where is the political diversity . Last Night National journals Rebecca Nelson found conservatives in the tech world who live in fear of losing their jobs. Silicon valley has long been this bastion of liberalism. No republican president ial nominee has won any county in the bay area since 1988. President obama won 84 of the vote in San Francisco in 2014. Its long been, you know this theres liberal supremacy there and theyre worried to speak their minds to go against it. Tom democratic strategist Jessica Tarlov says it is not a problem because republicans are not a protected class but attorney eric custer says it doesnt make it right. Start with you jessica on this business the fact that republicans are not a protected class. Theyre not. Tom and in the bay area in california the Democratic Party dominates. Why is that a problem . If people feel they want to vote a certain way, thats their business. I havent fill out that many job applications but certainly never asked me how i voted. And the Tech Industry is issue based how they done amount the top ten politicians that got money from the Tech Industry four were republicans up from one in 2010. Tom all right, but eric thats fine, you can have your political beliefs but affecting my paycheck because if i say the wrong thing, i Say Something conservative in the hallway or the lunch counter at google will i lose my job or not get promoteed . You may lose your job because you said something stupid it doesnt matter whether you are republican or democrat. Like what jessica said, a persons political choices will go along with their industry. For example, the teachers may support the democrats because of their policy on certain things and physicians may respond highly to the republican side. So it really depends on someones specific industry as to what they think. Tom jessica i had calls on my radio show from people that are closet republicans in the teaching profession. They love teaching they lot of job, the occupation but theyre afraid theyll say the wrong thing or be outed. I dont know how to speak to that. What i think happens for a whole range of issues with Sexual Orientation all sorts of things. I dont think this is something we should be legislating about, look at Carly Fiorina about to jump into the race, i think she is about to jump into the race. Thats a big republican at hewlettpackard headquartered in Silicon Valley. Something interesting to talk about, but not a policy issue. And not a protect class like race sex, those things you cant change. Tom should it be eric in the reason we protect people is so they can basically go out and make a living without being discriminated against. Yeah, but protect being whether you are a republican or democrat, that should not matter because people switch parties like theyre playing hopscotch. Theyre republican today and next year let me change to democrat because thats where people are going to vote in my state so it really depends i dont see where this is even an issue. Tom well when i moved to california, governor reagan was in office and then there was pete wilson and george deukmejian, it was a republican state at one time. Maybe it would make you happier to live somewhere else that is more republican. The people in Silicon Valley, people who are voting are doing whats in their best interest. People are switching parties and identifying one way and not necessarily switching parties just voting how they feel in that election. You can switch parties for any election. Just like when i practice in alabama i encourage people to split the ticket anyway there. Are some republican idiots and democratic idiots. So we have split the ticket to make it right anyway. Tom well well see. [ laughter ] its true do you have the choice, and you have the freedom to when youre in the voting booth, nobody knows. Unfortunately at work. Thats for a whole host of issues. Tom be careful. You can change but were not sure how careful you really need to be. Diversity problems we talk about race issues and women being unfairly represented. Tom were not going to solve it today. Thank you very much. The fcc says the new internet rules wont increase your internet bills . Really . Why david asman says that is jus