Gerri our Nations Capital is banning vanity license plates. Washington dc doesnt care for the prodemocrat or pro republican, they are all forgotten. Liberals are out of luck if they want these plates. Libertarians cannot support their favorite candidate, ron paul. The capital city has posted a 53 page list featuring 20,000 license plates and you can see this whole list if you really want to look at it at government attic. Org. It is a little ironic that you cant put freedom on the license plates since it goes against many of ours. That is it for tonights program, we will be right back here tomorrow. Lou good evening, everybody. Thank you for joining us. President obama for the past two months has been preaching that the wages of sequestration would be apocalypse. Doom and gloom and devastation, he warned. It turns out he was simply wrong on so much that he warned us about. And as far as the stock market, it is hard to imagine that he uld have been more wrong. Investors tonight celebrating a recordbreaking performance on wall street, driven by a triple digit rally that resulted in a new record high for the Dow Jones Industrial average. 14,253. 77. Millions of investors talking about what president obama has been talking about for so long. Markets that lookout six to 12 months, obviously seeing a brighter prospect than does our president. The dow jones climbing 126 points on theday. Settling at just about 14,254. Shattering the previous record. The wilshire 5000 also closing a record high since the 20th of january. U. S. Equities have gained about 11. 3 trillion in market capital. Since the march 2009 lows. The s p is up 15 points. The nasdaq is up 42 points. Both indexes reaching a 52 week high today. The markets looking healthy. The dow jones now recovering all glosses that have been incurred during the finanal crisis and more. There are striking differences between today and october 2007. We thought it would be interesting to take a look at some of those differences. The National Debt is massively larger. The debt that was just over 9 trillion in 200. Today is 16. 6 trillion. As a percentage of gdp back then, it was only 30 . It has risen to nearly 75 over the past four plus years. The Unemployment Rate last month, 7. 9 . In october 2007, Unemployment Rate was 4. 7 . The average price of a gallon of gasoline in october 2007 was 2. 75 per gallon. As you see there, now it is 3. 7per gallon. The Obama Administration remains under considerable criticism today for overhyping the effects of the sequester and critics charging that the president playing games with some of the services being cut, such as tours of the white house. Ed henry has our report. Just in time for the spring break rush of tourists, white house officials today notified congress that they are taking the highly unusual step of canceling tours. Due to the sequestration from the white house tours are canceled effective saturday march 9, 2013. Until further notice. Reporter an aide to senator tom coburn has said that they have jumped the sequester while other said the president is trying to in up the impact. I think its political, but i also think it is transparent. The public is looking more from leaders in ending tours at the white house. Airports are facing major way kinds. I think with the current weight is gone, we could see a lot of missed connections. Reporter the secretary herself said she was not sure of the details and would have to check. The secretary of transportation made it clear when he spoke from the podium that there will be negative effects on air traffic because of the reductions and the faa manhours. Reporter questions are also cropping up about 70,000 kids getting kicked out of head start that he brought up. They are trying to figure out how can i keep my job because they cant afford childcare for their kids. Reporter Congressional Republicans know that it was only two years ago that head start out roughly a 5 increase in funding. So how does a cut now lead to massive problems . I dont have it in front of me. I trust that we will get the information. I find it remarkable that those who weeks ago and months ago were saying the sequester was the worsthing that could happen, they now embrace it as a victory and try to diminish its impact on the most rrible people in america. Reporter officials testified today that they do have major worries about the impact on troops returning home from afghanistan. With the National CommanderJohn Hamilton on capitol hill saying that he is deeply concerned that the sequester will damage the department of defense and the veterans affairs. White house officials know republicans like Speaker John Boehner have issued similar warnings about national security. Although gop lawmakers countered that claims on the domestic front undermine the president. It reminds me of the little boy who cried wolf. His credibility has been strained by claims of his administration that we find out things were not issued as a result of the sequester. Reporter is on the map they have done come up to 14,000 teachers could be laid off and up to 70,000 students could lose access to headstart based on the average cost per child they have done. As you know, the education secretary arnie duncan has a statement that he made about the thing that it turned out not to be true. Lou thank you. Ed henry for fox news, the chief white house correspondent. Our guest tonight says the president has been trying to make the sequester look like it is apocalyptic and weimar economic problems on the rection in government spending. Joining us is the former mayor of new york city, rudy giuliani, it is great to have your. Nice to be here. Lou lets start with the sequester. His administration has racked up more pinocchio is than i can ever recall. It makes no sense. A 2. 5 reduction, a cut in the increase of spending. I dont know why anyone ever believes this in the first leg, but it shows that this white house is doing this for political gain. That we have serious and longterm economic problems. Instead we have a president running around, crying wolf no effect. Lou so youre not persuaded that it would be necessary to cut down the white house to earning . Well, i guess they had to sacrifice something. Its totally crazy. The rating agencies are making a point that this wasnt much of anything to start with. We have a longterm debt problem. This leader should be helping us deal with. That they shoulde setting the tone. Instead of going the opposite direction. Lou the president used to be referred to as no drama obama now it is relentless. The republicans seem to cut come up with an approach of a strategy, if you will. A demeanor that is appropriate and that is that they will insist that they are actually are going to have to put together legislation to introduce it. There must be hearings, the public will be heard on these issues. If so, hallelujah. I think after a little bit of difficulty in figuring out how to do this, the fiscal cliff, all the negotiations, i think they are now on theright track. I think they handled it absolutely riht. They did not get bullied by all of the nonsense thpresident is putting out there. I think they will go back to an open process with the budget. City council the city council always had hearings on my budget and it was a three or four months process, enormously helpful in giving support and making arrangements. Lou there must be some sort of allure to have thos secret meetings, if you will, the private meetings with the president over these issues, coming up with a grand bargaining. That must be intoxicating to some. It is calamity so far for the republicans. It is. They all have different viewpoints and they needed chance to make their points. Sometimes their points are very good ones. I think it is very counterproductive. When you have a president who really doesnt know how to negotiate, a resident that its my way or the highway, someone that wants to negotiate and then go out and make a speech about what a bum yo are two hours later. I cannot imagine how he wouldve passed the budget doing that. He gets away with it because the media. He is trying to get republicans to meet him halfway and then he batters him on the stump. He is elected for the next four years. He should start acting like a president and not a candidate. Lou the republicans with tht approach, they seem to have found their voice. Speaker boehner in particular. And he say things like no one in washington seems to understand what this is all about and how to resolve it. The next thing we know that jeb bush is selling a book and attracting from what would be a president in great survey on the front pages of our newspapers, even the Washington Post and the new york times. There is no leader of the republican party. John boehner is the leader of the house, the senate is a totally different story. People out of office, we have a lot of different voices and i think that will be the case until we have a nominee. Lou you are certainly one of the wiseman for the republican party. At this point, do you feel that you are being listened to by those that need to listen to the wiseman in putting forward ideas, whether it be ilLegal Immigration, gun control, saying that this has to be a united approach . I think so. There were a number of different viewpoints. Youre never going to be the predominant predominant viewpoint. I think that the party is making the right steps. I think Speaker Boehner has a pretty firm grasp on what is going on. I think that some of the movement to opening up the party more than we have in the past is a greater thing to do. I believe that we have to figure out a way around the social issues because i think that those are the ones that are the very difficult ones. We have to figure out what is relevant to women. We cannot expect to be the Majority Party if we are not relevant with women. The idea that jeb bush has moved this way on immigration, suddenly he doesnt believe that any resolution of our illegal Immigration Crisis is working. What do you think . Its a twopart process. You have to stop at the border. We need more resources, we have to be sure that people arent coming illegally. Then we can do something good. We put the good ones on the road to citizenship and get rid of the bad ones. I have 400,000 Illegal Immigrants when i was mayor of new york city. Some of the more actually we should point out that they are not the crime problem in communities across the country, they actually have a lower crime rate than the general population. Mixed in with them, open borders are danger and irrespecve of ilLegal Immigration. Terrorists can come in and they do come in. We should control our borders like any civilized country does. We need to increase our resources in order to do that. Lou very quickly. Are your what are your thoughts on gun control, universal background checks . I supported the assault weapons ban back in 1994. Gun control isnt going to stop crying. New york has strict gun control. Chicago has 3. 5 times the murder rate of new york. The new York City Police department sees the guns daily in large numbers. We have taken him away from the bad guys, thats what you have to do if you want to solve the problem of crime and if you want to avoid another terrible situation like sandy hook. We have to enforce the laws that we have. A few more laws, okay. But they are not going to solve the problem. We must enforce the ones that we have. Lou we must talk another time abt that assault weapons ban. Mayer, it is so great to have you here. Always good to see yo venezuelan president hugo chavez died today after a twoyear battle with cancer. The Vice President ming the announcement just hours after they expelled two u. S. Diplomats in the country. His cancer was caused, he said, by power play. He gradually placed all state institutions, including the oil industry under his direct control. He frequently railed against the United States in an effort to promote a leftist recycle across latin america as well as his own country. Hugo chavez, 58 years old. Lou no more drama obama. Has the president proved his professional standing with the author of the bestselling book the amateur . Ed klein is coming up next. And the dow jones at a new record high. U. S. Economist Stephen Whiting dad, id put that down. Ah. 4g, huh . Verizon 4g lte. 700 megahertz spectrum, endtoend, pure lte build. The most consistent speeds indoors or out. And, obviously, astonishing throughput. Obviously. You know how fast our home wifi is yeah. This is basically just asast. Oh. And verizons got more fast lte coverage than all other networks combined. Its better. Yes. Oh, why didnt you just say that . Huh what is he doing . Lou record highs on wall street today. Stephen whiting joins us in just moments to give us his insight and perspective. The Dow Jones Industrial had an alltime new high. The dow jones of 126 points, closing at 14,253. 77. That is a long way from its start back in march of 2009. 6547 points to give the dow jones at full value. The s p 500 within 25 points of its record tonight. The nasdaq gained 42point. All the way up to 3. 6 billion shares. Stocks of the big board finishing today higher. The the biggest gainers were on the dow, hewlettpackard. The biggest dow gainer since march 2009, American Express has gone a little over 500 at that time. And in the commodities market, gold rose 2. 5 per ounce. 10 year Treasury Bonds rising. Stocks have gained about 11 trillion, up to 11. 3 trillion since march 2009. This year alone, the Dow Jones Industrial more than 8. 5 . The s p up nearly eight points. Joining us now to take a look at whether the these stocks will go higher and just how soon, Stephen Whiting, and i dont mean to put too much pressure on you, but we will. [laughter] lets turn towards todays remarkable performance. This is a moment for all of us. Well, the economy has handled fiscal tightening, large tax increases at the beginning of the year, holding and stronger. Spending cuts are small,. So many people, they keep talking about 85 billion and the impact. The real effect is much smaller. Far more harmless than many suggest. I do not want to minimize the effect on individuals, but the Congressional Budget Office has said that Spending Authority is wanting in spending cuts is another in the amount to about 42 billion. Over the course of about seven months . Yes, if this lasted 10 years, it is honestly not ideal. People who are unemployed might become a little bit concerned about being nemployable. Lots of policies that we could take dealing with our fiscal problems over the next three decades. Lou what would that be, dealing with entitlement . Absolutely. The one thing is to deal with the longterm structural spending. We became a little bit more pessimistic on the lack of action or. Lou i smile because im thinking the president obama, as he watches and listens to you, he might be scratching his head and saying, what do you mean we . This is a me thing. The president has chosen not to submit a budget. The senate has chosen not to put forward a budget. He has chosen not to cut spending. This thing probably isnt as much as we would like it to be these days. You have the wrong guy for politics, im the data tells everybody we have a problem. We look at the medicare system and for 30 years, roughly, stable demographics, growing in excess of 9 per year. You know, some of the spending sloan in the growth rate. But if you look at the population of 75 years and older. People have a low participate. In the coming decade it will grow in excess of 4 . We are the youngest country in terms of the medianage. Our age, 65 and over, group of americans, 80 million between now and 2030. The problems will exacerbate themselves. As we are talking about the realities, and im sorry that we have to bring up politics because we are in the midst of the sequestered. Which is politic as it gets. Looking at a continuing resolution, which is a political as it gets because we are involved in a political economy. You can separate the two, you are ingenious and i defer to you we have the highest cost of aging from the fiscal perspective. The imf is estimating that we will get re fiscal worsening in japan does in the next 15 years. The International Monetary fund is a notoriously bad forecaster, just about everything to do by country. The issue here is we are talking about this entitlement. What we are looking at is how we are going to distribute those resources. Coming back, we will talk about how to do that right. Good to have you with us. Lou coming up next, i. C. E. Releasing thousands from detention. And congressman bob woodlot is lou an official with the man splnt Health Service in North Carolina said Agriculture Department sent him the following email after asking about flexibly in the sequester cuts. It is your opinion, you need to make sure you are not contradicting what we said the impact would be. You got to love the government or politics of government. Joining us, the amateur, good to have you here, ed, what do you make of this . A direct order to inflict pain because the president said there will be pain. It is clear this administration wants the sequester to result in great deal of pain to point his finger at the republicans and say it is assault your fault. Lou has anyone in this administration considered the inverts, if they continue with this nonsense they will be blamed for whatever pain results. He is the one he is the president. I was speaking to a very liberal somebody very important in the liberal spectrum. You know what i mean, he said to me, that i think this president this is a very liberal guy, i think this president. Lou he sounds like the new yorker, am i close . Is over playing his hand, in that. The people expect him to be a leader, not complaint and carry on and say all their fault, and. Fingers, get them felt together, make it happen. Lou i he