Im glad that fox Business People finally got to ask questions tonight because we got to hear a serious discussion of stuff that really matters out of control government spending. Regulation that no one understands. Bank bailouts. Government setting minimum wages and so on. Our studio audience watched the debate, sometimes laughing i noticed. They can vent about who made sense and who didnt. Our panel is the roy murdoch of national review, a libertarian, but more war hawkish than i am. She specializes in health policy. Hes young, but knows these issues, most of them better than i do. Lets start with you. Who sounded good to you . I dont think any of them sounded really great, to be honest john. They were talking about fiddling with the codes, but the idea behind the free market is no one knows how to live someones life better than them. They sounded a lot like rand paul was talking six months ago, why is it all of a sudden we have sort of a singular idea about how to control the tax code and the guy who came up with that guy is the one theyre ignoring . Theres a problem in the Republican Party about what kind of a message that really want to send. Im going to disagree a little bit. I think we see a broad cast of characters on the stage. Theres very few who can be the leading man or the leading lady. Who is out now . Who are the supporting role people . It is going to be hard for people to jump back in from the earlier debate tonight, but i think Governor Jindal and governor christie did a good job in that debate. Mike huckabee and the other participa participants in the first debate, theyre really polling too low. At this point they may not have a path to the nomination. Roy . I think we saw a lot of talent up there. I thought in particular marco rubio came across very, very clearly. His answers seemed to be able to involve his economic ideas, his thoughts on education on international relations. I think his star power is very strong. I heard marco rubio support from you folks. Is that [ cheering and applause ] the one thing i see missing in all these debates is one very clear break out idea. Everyone was talking about the 99 tax plan. It was on the edge of peoples tongues. Im not seeing any idea jump out where people say i like this idea, i dislike this idea. Im not seeing that kind of a breakthrough. Marco rubio is jumping out, but i have some problems. Rand paul brought up a couple. How can you call yourself a conservative and want to spend a trillion more on the military and do social engineering on the tax code . Im very concerned about the rise of marco rubio. Hes the jeb bush in the race of what jeb bush was supposed to be. He wants to spend a trillion more dollars on the military. We would have to be shooting down russian jets. Everyone knows the iraq war was a complete failure. Why dont we just elect the bush family because at least then we get the dynasty . And rand brought some of that up about the no fly zone, but the republicans are very hawkish. They didnt pick up on it, and deroy, you agree with them. Im not everybody. Look, what weve seen under obama is this leap from behind concept. The leap from behind concept has brought us isis, russia and crim crimea. This country really internationally has become a laughing stock because the idea of American Leadership and american preimmineneminence hav been demolished by this president. Rand paul called Hillary Clinton what she was, which was a neocon war hawk. They dont care for him. The audience wasnt impressed by them. We have a war hawk right here. Isis was also created by our intervening in iraq. I disagree with that. It was relatively calm and stable. Obama decided it was more important to pull people out than succeed in iraq. It looks as if they have blown up a plane with a bunch of civilians on it. Just one more. The islands in china, these are barely above sea level. Obamas so upset about them, but according to him, Global Warming is going to erase these things anyway. Why is that our business . Theyre building these islands. We have to police the other end of the world . Look, if things stay calm with china, thats not a problem. If things become more tense, it might be a good idea to close off some sea lanes. That becomes a problem for commerce. Again, you have a country like china, that may decide lets beat our chest and put the americans in their place, if you will, and thats something that propounds very negatively for our country and all the people in this studio and all the people at home watching. Spending. What did you hear about spending . Were going broke. First of all, i was disappointed that none of the candidates corrected the premise that tax reductions cost money. We want to do tax reform. We want to reduce taxes. That comes with a cost. How should you pay for that . Supply argues if you cut the tax, there will be so much more economic activity. Probably isnt fully going to happen. I think thats why i think it is important for candidates to be specific about how they would reduce spending. Very little. It just troubles me to see someone, for example, like governor kasich from ohio who increased per capita spending while he was governor there. Someones record speaks much louder than their words. Expanding medicaid is another assault of his that he expanded. Putting more people dependent on the government when it comes to health insurance. That doesnt seem like a very fiscally conservative thing to do. I agree. I found him very annoying tonight, kasich. But in his defense, there is this survey which compares what governors did year by year, so youre not based on an expansion or a depression. Kasich was second. Christie and huckabee were the worst in increasing spending. He may have increased it, but compared to what else was going on he wasnt so bad. We ve tay aenti to e feeralolla th hetook rom oh to expand medicaid because those are taxpayer dollars as well. Its just robbing peter to pay paul. It wasnt a decrease in overall spending. I thought kasich came across in terms of his appearance better than recent debates. Really . Just in terms of his presentation. Who agrees with him . No. Rl eet lor xp te oof mht bishego stage. Marco rubio said we need to subsidize families. If you have families are a good thing, those are the values we have to exemplify. As much as i like rubio, i completely agree with austin on is that. Get the tax rates as low as possible. They can decide to have children or not and get the government out of using the u. S. Tax code. We could fill it out ourselves instead of having to figure out our child code. But you, who likes rubio, what about him supporting the subs y subsidies for sugar . I cant defend that at all. It doesnt cost that much money, but in terms of the destruction it creates environmentally and economically, if youre in a haiti, well buy a small amount. Thats it. We dont want anymore. Enjoy your poverty for another 11 months. Its an awful program. Lets not let ted cruz off the hook. While he was private attorney in texas, he wanted the stimulus there. Big driver of our bankruptcy is entitlement. We didnt hear much about that. Its just not a political winner for these guys. No hardly at all. You have some candidates like huckabee and trump who say absolutely we cant touch these. Maybe they dont recognize the status quo is a train headed off the tracks. Maybe changing some things like the retirement age and tweaking these programs would slow the train down, put the brakes on, but we need to jump to another track. We need to give younger workers the opportunity toheir the soc Disability Program is going to go bankrupt next year. Nobody is talking about the fact this major entitlement is gieoi to go broke next year. Maybe they dont know. Nobody wants to talk about the fact that the Disability Program will run out of money next year. If you talk about making changes to these programs, Senior Citizens will get nervous and this will hurt you politically. One of the solutions they like to offer is lets just raise the retirement age for Social Security. Why dont we raise the pension age, collection age for federal employees instead . Lets do both. Coming up, our studio audience takes on the debaters. Ill give a couple of answers i wish a candidate gave. That and more when we come back. At ally bank no branches equals great rates. Its a fact. Kind of like ordering wine equals pretending to know wine. Pinot noir, which means peanut of the night. I research. I dig. And dig some trader more. Search. Because, for me, the challenge of the search. 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I just had a horrible nightmare. My companys entire network went down, and i was home in bed, unaware. But that would never happen. Comcast business monitors my Companys Network 24 hours a day and calls and emails me if something, like this scary storm, takes it offline. So i can rest easy. What. You dont have a desk bed . Dont be left in the dark. Get proactive alerts 24 7. Comcast business. Built for business. [ applause ] if youre watching tonights debate, we want that hear your opinion about who will be president or who is likely to win. Trump and carson do lead the polling quite a bit, but i say polls are garbage. No, thats not fair. Theyre mostly done by good polling companies and theyre interesting, but when it comes to predicting election results, polls are not nearly as useful as Prediction Markets. Prediction markets are things like the stock market and commodities exchanges. Theyre the most accurate predictors of future events because lots of people participate and guess and they put their own money on the line. Todays price is the best reflection of what the future will bring. Its not perfect, but its better than polls. In america no good Prediction Market exists for politics, and thats because foolish republicans banned internet gambling, so the only real Prediction Market that works is based in england. Its called bet fair. Useful as it is to us americans, it is basically unintelligible. The prices are in pounds. Look at this website. This is understandable. We americans caprocs th. Asou s, hilry lint is he vorito winhe democratic primary. On the right, you see shes a 53 favorite to become our next president. In the middle is the betting on who will win the republican primary. Marco rubio is the big favorite. Not pollleading donald trump or ben carson. Trump comes in second, then cruz, bush, carson, and the others. My first rand paul near the bottom. You can check these odds on my website at johnstossel. Com. They update every five minutes. Since the debate began, rand paul is up a little, so i can still hope. The betting, do you not agree, do you agree . The betting is more accurate than the polls . I think it is. When you back at prior election cycles you can see the people who were leading the polls at this time did not end up being close to the nominee. Theyretes. By state. Its a lot different than taking a national poll. The first comment from a candidate at the debate that made me want to scream was this from donald trump. I cant be neil. And the reason cant be is we are a country thats being beaten on every front economically, militarily. Theres nothing that we do now to win. We dont win anymore. Were being beaten economically. What does this even mean . They say america is the greatest country in the world, yet were far behind china. I think he speaks at a third grade level, which is what gets a lot of people to support him. I think that if you look at what donald trump is doing, its brilliant because hes actually breaking through the barriers and getting people interested in politics. Why he may be politically but in a bad way. He is politically incorrect and his politics are incorrect, but hes slayed the beast of Political Correctness. Economics is not war. We dont lose to china when they sell us stuff. The Political Correctness victory at what cost . When you look at credentials, first of all he doesnt have a record in his office and his recorded statements and books, we cant tell if this guy is for universal health care, if he is prochoice, prolife. Where does he stand . In terms of trade, hes a prote protectionist. Hes going to make America Great again. Its going to be huge. Exactly. He does talk about america losing to china. Look around your house. Almost everything you buy is made in china. Is that a loss . No, this is a very positive thing. What he does capture is the sense of economic stagnation and economic anxiety where the economy is not growing much. People get the sense theyre not going to be able to save up money for retirement. The average american has 1,000 in Retirement Savings or something. On social media, i made a comment about trump having no clue. On facebook i had a response, he has 10 milli10 billion. They dont give you billions for being stupid. John, how much do you have . Just because his father gave him a million and he bet on real estate and made a ton doesnt make him intelligent about economics. Trump owns a company that has products manufactured overseas. Why does he want to restrict trade on other companies but not his company . Right. When we come back, more on the debate. Im definitely able to see savings through using the car buying on usaa. I mean, amazing savings. 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[ applause ] republican candidates repeatedly say weve got to strengthen military. Im glad rand paul interrupted at the debate to say this. Do you know we spend more on our military than the next ten countries combined . I want a Strong National defense, but i dont want us to be bankrupt. I dont want us to be bankrupt either. Im not for bankruptcy, if thats your question. You want to spend more on the military. I dont think it is a question of just what the spending is, but are we going to present ourselves as a country that is a leader and that is respected around the world. How are you going to pay for it . Or are we going to be in a posture right now where were getting laughed at . How are you going to pay for it . I think what we do is we consider defense spending the number one priority, which it should be under the constitution. We have a lot of other spending we shouldnt be doing. The entire farm program ought to be shut down. Youre going to shut it down. It would barely dent the fence, which is 1 5 of the budget. Farm program is 100 billion. It should be shut down. I heard discussion from Carly Fiorina about zerobased budgeting. You spent 40 billion last year. Well give you another 5 billion on top of that and it just keeps growing and growing and growing. Im getting nowhere on this. Im glad we heard sensible things. Marco rubio said you raise the minimum wage, well make people more expensive than machines. Finally, some people being articulate on this point. He can say that. Because what happens when you raise the minimum wage, all the people who are unemployed who are unskilled, theyre unable to get jobs because theyre not able to get into the marketplace. But people who dont have job skills, theyre not able to get that job because the employer just cant find a place to meet them halfway. Even Republican Voters say, yeah, we ought to raise the minimum wage. Santorum is for raising that federal minimum wage. A lot of this is magic wand waving. Look, we can put in at