Poll a majority of americans are feeling good about 2014 but what economic threats are on the horizon for the new year . Lets bring in todays panel. Pete hegseth concerned veterans of america and fox news contributor, jack hough from barons and simon constable from the wall street journal. Pete start with you, was this a good year for your family . 67 said yes and highest number going back since 2009. It is good to hear. But surprising as supposed recovery has not hit middle america. Interest rates have to go up at some point. The economy is addicted to them. Debt ceiling fight in march. Where will that go with emboldened conference. Adam i tell you where it will go . Jack we have the debt ceiling problem in march. Oil will go up eventually in price. Could it happen before march . Oil could go back up. I dont think it will go anywhere near where its with. This many looking fed rate hike will be less of a exciting event than investors think. Adam could be a minimal hike even if they do it . The fed will be very careful with dollar this strong and overseas markets this week. Dont want to break anything. That is the key. Dont break anything. Adam the market already priced it in. Simon, talk about something everyone can relate to. The price of housing is accelerating at slower pace. Still going up. Still going up. Adam but were lowering standards which well lend to people. What could possibly go wrong. Never been done wrong. That just seems silly. One of the things that will keep house prices down is having tight lending standards you know . Fewer people will buy and keep prices lower and people will be encouraged to save. Adam okay. But then you dont get the inflation that the Federal Reserve wants. You dont get that. But you dont get the Banking System going under either. Adam how much, Mitch Mcconnell said that theyre not going to shut down the government. So is the debt ceiling issue really an issue or not simon . I think it is a bit of a faux issue. No way the u. S. Will not pay its debts t would be ridiculous t would be like not a real country if it didnt pay its debts. That would be very bad. Adam there is nothing more boring than the debt ceiling well drop the debt ceiling and move to something quite interesting, the sony hack. A new report is pointing to an inside job at sony. Security firm, norse believes it uncovered evidence on six individual involved in the hack attack, including one former employee. Pete i will go to you not because of nordic where youre from in minnesota there was always suspicion someone on inside might be helping evil north koreans. Nothing surprises me. How quickly we came out to deem it was north korea which is not indicative of way administration handles things, slow deliberate. They pointed finger very quickly because they needed culprit. There was sense north korea capable their internet runs on an chimpanzee. Adam 12yearold in Silicon Valley shut them down last week. There is evidence of a native russian writer playing a part not just korean writer. At home when anything goes wrong with the internet i like to blame russia first before i even know the facts so im totally satisfied with that term. Adam do you believe the fbi because the fbi said we see a the passenger in the software that indicates previous attacks launched by north korea. We know north korean attacks on Banking System in south korea. Do you trust the fbi . I do trust the fbi but very hard to track the trail of actions on internet. That is why people keep their pornography there. Cant figure out what is going on. It is free. Maybe it was someone inside of the company who was from the Marketing Department who refused to try to market this movie because it was so bad. Maybe that is why. Adam from north korea to the faa, not so much a dictatorship, perhaps. Not so, rise of the machines. Faa is on track to miss, imagine a Government Agency missing its own selfimposed deadline on drone regulation. That means the ban on commercial drones will stay in place or the time being. Simon i got to ask you u. S. Business which would use commercial drones, i mean one estimate, this is according to the association for Unmanned Vehicle Systems International says were losing 10 billion a year in Economic Activity because the faa is dragging its feet on drones. Do you buy that number . 10 billion, 100 billion, two billion, who knows what that number is. That number i think they put their finger in the air to come up with that. Economic activity is certainly lost there but also Economic Activity is lost when you have things flying up near jfk and la guard call wand everyone laguardia and everyone freaks out. Adam we hear about the drones. People get injured. One fell much more important for them to get the to get rules right. They missed deadline this year. Were just hearing about it. Now they need couple years . That is missing a deadline. By 2017, regulations will be older than the what they said. Adam there is definitely need for Drone Technology in the crop land where people want to look at fields and that stuff but in the city, this idea that google will deliver packages in large metropolitan areas. Liability alone should it fall and hit someone on the head the lawsuit alone would prohibit this isnt it . It would. Im tempted by this idea in 30 minutes and order something from amazon and would arrive. You look practically at millions of buzzing machines. I dont want to be regulator. Adam they had same day deliver i r already here. I want 30minute delivery. Dont order anvils or pianos. Can deliver halfway up the building if you need drink refill . That would be good. Go straight through the window. Adam when computers take over. Extending their run. Hillary clinton and president obama topping gallops list of most admired people in the world. Simon he voted three times. My favorite was actually pope francis. Adam catholics love this pope. Three times. Actually noncatholics too like me. Down at bottom, great dinner party, bill oreilly, Benjamin Netanyahu and vladmir putin. That would be a dinner party that would be fantastic. That is my dream golf foursome. Me and those guys. Adam how does Hillary Clinton beat out Oprah Winfrey 13 years in a row. I will mispronounce her name, the malala, the pakistani activist that survived after being shot by the taliban. How does someone beat her. I think adam these are people poll a lot of people on the list, asking who is the most fame must person on the list. They check box they know. 12 . Not a wave of people cheering for Hillary Clinton. 12 admire her and couldnt think of somebody. Adam how do they know who ben bernanke is . Tell us how you really feel, former chair ben bernanke, admits, this is quote meetings involving central bankers get a lot of attention though most of them are deadly boring expletive removed. He said that, not us. Trying to hide something. Breaking out whiskey. Hacking sony. Adam janet yellen has a reputation, let me tell you. She is a party animal. Does anyone care if the Federal Reserve meet something boring . I think boring is probably good. I cant think of anything more boring. My ninth ring of hello would be continual fed meetings, time and time again. Number staff. Bulls and bears. I would be really worried if it was exciting. Adam he said it was exciting when Lehman Brothers collapsed and meeting in october and the world was coming to end. At the end of the day the Federal ReserveBank President s come and go chairman comes and goes but bureaucracy System People who have been there 30 plus who write reports and influence the policy, right . They influence the policy a lot under direction of people on that board. Think about this though. What cree have they committed to be working in that bureaucracy for 20 30 years and having to write those reports that are pretty dull. Only you and i have to read. Rates are set to rise for first time in 2008. You dont want them plying by the seat of their pants. Adam or drone. God forbid they should be driven by a drone. Well have more of this later on. The search for a missing airplane end in heart break. The latest on investigation of asia asia flight 8501. We heard i all before. Were sorry. Wrapping up the latest apologies of the year 2014. Coming up. Adam some good news. President george h. W. Bush finally heading home after a weeklong hospitalization of the 41st president was released from houston Methodist Hospital this morning after being treated for shortness of breath. Bushs Office Released a statement saying, this is a quote he is resting at home grateful to the doctors and nurses for their superb care. At 90 years old the elder bush is our oldest living u. S. President. Heartbreaking new details about missing airasia flight 8501. Officials confirmed they found debris and bodies 60 miles away from the planes last point of contact. Fox news correspondent greg palkot is live in london. He has more for us. Thats right adam. Soon to be launched a major recovery effort after that break through in the search for airasia flight number 8501 but as you noted adam, a sad one to boot. Recovery teams today spotting debris from the plane off indonesias Borneo Island near where that plane went into bad weather and disappeared on sunday. Items found include ad door, a lifejacket a suitcase, floating on the surface of the water. Sadly too among the debris, bodies were found. It was originally reported that 40 were located. Officials are saying no more than three were found floatings on surface of the java sea. 162 including were onboard. Fuselage has been spotted on seabed. The water is relatively shallow about 80 feet. That should assist recovery efforts. This is grim news to those related on board. Indonesian tv ran at some point scenes of those bodies on the water making news harder to bear. They will soon have to start identifying their loved ones. Final lit u. S. Is helping out. On the scene right now i am told, the uss sampson destroyer from the 7th fleet. It include on board two helicopters, cargo lifts to recover wreckage as well as sonar equipment. There is Surveillance Aircraft on the way as other assets. Adam along with the recovery of first the bodies of, then the wreckage, of course the search for the black boxes the telemetry that could unlock some of the mysteries why this accident happened and maybe insure the safety of future air travel. Back to you. Adam greg very quickly you mentioned the flight data recorder the black box. Have they picked up the ping from this device . Not that has been weve heard b the other thing that the United States is offering, adam, is actual ping locators, something that can help the indonesian authorities find these boxes. That again is kind of a parallel urgency alongwith of course the recovery of the bodies and wreckage the battery on those things will last 30 days. Greg palkot, from london. Anksor upding tt. Hankou. Ad ncleamypasng congss a oerin a new w o invesentnetirent onf yre inteste in gornme deb walstre joualsjame frman isere with detls iss anrde comg dn from high, is it not . Right. You mentioned you will have ceo apologies of the year coming up. I wish the president would apologize for this one because it is really dangerous both for investors and for taxpayers. As you said this is a new ram he is voting out without any vote in congress. Adam so this is, but he did say, he asked that congress, he would go to congress to create what is called my ira. Program for people who learn less than 129,000 and dont have retirement taxpayers will wind up saying if you dont have savings when you retire, taxpayer will get hit with the bill. He never went to congress except to tell them in last januarys state of the union on doing this, he directed the treasury to start setting up these accounts. It is a version of a roth ira. But as you said, the only investment is, nonmarketable treasury securities. Basically an ieu in iou in the Social Security trust fund. Giving small rate of return. 2 some years. A little over two this year. This is not how a young person should built a nest egg. It is really i think dangerous for young people to get them into this type of investing which wont pay for their retirement need. Adam you will need a return of eight to 10 when through that young. Very quickly, what is more troubling about this . The wrong message on how to save and prepare for retirement is being made . Or the fact that the Treasury Department is doing this without authorization from congress, just kind much creating it as they go along. Hard to find any winners here outside of washington. You mentioned there is a question of authority. They are claiming that given their General Authority to manage the governments debt they can do this but this is not an efficient way to fund our government. It is going to have a cost. Theyre going to Pay Private Companies to manage this thing. Adam theyre not saying how much theyre paying them. They havent told us how much. Probably not much at the start. Adam comerica, right . Comerica has the contract. And, like all Government Programs it is bound to grow over time. And i think the danger is that from a rule of law perspective the idea that the president can set up a Subsidy Program and never get congress to vote to approve it is dangerous. Adam as mel brooks once said, it is good to be the king. History of the world part one. James freeman. Great movie. Adam the year of the foreign threat from the rise of the worlds richest Terror Organization to russias move into 2014, 2014 brought up unprecedented events. Well look where america goes from here. If you thought the weather over christmas was strange waist until you see what new years eve has in store for us. Do you ever have too much money adam all right. So between security threats from isis in the middle east to russia in ukraine and crimea, 2014 has prove vern to be the year of a resurgence in foreign threats. Peter barnes is in washington with more details for us. Peter, can you break it down for us . Yeah, adam, with isis rampaging across syria and iraq and russia invading the ukraine were not enough for the u. S. To handle in 2014, north korea made it a National Security trifecta over hack of Sony Pictures and movie the interview and threat of 9 11 style attacks that showed the movie. Mike rogers, chairman of the House Intelligence Committee said that made eight nationstate attack on United States. By end of 2014 in iraq, isis appeared to be a standoff against iraqi forces helped by american air power. The air power u. S. Also used against isis in syria. In ukraine government in kiev and rebel forces in the east, and russian backers were bogged down in negotiations to end the conflict there. It was hacking of Sony Pictures appeared to be the most sensational National Security threat to the u. S. This year. It wasnt just about the movie. It wasnt just about a studio. It was about the vulnerability of the u. S. Financial system, telephone networks, electric grids, Defense Systems and more to cyberattack. What is important is the lesson here. That if north korea can do this, so can virtually any other competent group, whether it is a Foreign Government or a group of terrorists or simply a group of criminals. So the u. S. Government and u. S. Companies are on notice and on guard for Cyber Attacks for 2015. Adam . Adam well be watching that to see if that is the big issue in the next year. Thank you very much, peter barnes in washington d. C. Lets break this down with a panel that we have prepared. Stephen yates ceo of d. C. International advisory and Lieutenant Colonel ralph peters is a fox news strategic analyst. Let me start with you mr. Peters. This is really troubling in all respects. I mean the cyber threat can come from any number of people who have ill intent for the United States whether it be russia. Whether it be perhaps isis at some point or whether it be north korea. We have two selfinflicted problems with the cyber threat. One is a lack of leadership. Two is the lack of laws. Our laws on everything from intellectual property piracy to actual Cyber Attacks lag technological generations generations behind the threat. And on the other hand you have got no leadership, not in congress either, but certainly none from the white house until a little bit of dismay with the sony hack because that affected their hollywood base. Adam let me bring in mr. Yates on this you used to be an advisor to Vice President cheney and if you look at isis in iraq, part of the reason isis was able to become what it is today the United States had promised sunni muslims in iraq they would be part of a government and then the shia majority in iraq said no you will not be part of this government in a simple explanation. There was no leadership from the United States to prevent what has now happened with isiss rise in iraq, was there . Well there are just similarly generations of mistakes in iraq that have fed into the growth of isis. Not just in iraq. There was a of course related developments in syria. The advent of the iraq war, most recent i