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March 3, 2009

"Question of the Day!"

Posted: 12:35 AM ET

Tonight, Larry talks to financial experts Ben Stein, Dave Ramsey, Don Peeples and CNN's Ali Velshi, host of "Your $$$$."  Is the recession deepening?  Is there more bad news to come?  With that, we want to know what YOU are doing to save money now.  So, that's our "Question of the Day!"

"What are YOU doing to save money during these uncertain economic times?"

Share you money-saving tips with us.  And tune-in to the live program tonight at 9 p.m.  We just may use your comment on the air.

Also tonight, Louisiana Gov. Bobby Jindal talks to Larry in his first interview since responding to Pres. Obama’s congressional address.   It's a Larry King exclusive.  We'll also ask him about Rush Limbaugh and the current state of the Republican Party.

Please:
1) Stay on topic.
2) Keep it short
3) No curse words
4) No links

5) Use a name (no initials or screen names)

Filed under: Ben Stein • Bobby Jindal • Larry King Live • Question of the Day


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Jim Robinson   March 2nd, 2009 7:29 pm ET

What savings that I have I have been investing in CD's even though the interest rate is very low because the Fed's have lowered the prime rate so low and the banks tend to follow. At least I feel the principal is safe because of the FDIC insurance. Why is the prime interest rate so low? It does not seem to help the economy.

Jim


Mari   March 2nd, 2009 7:40 pm ET

Well, we learned a tough lesson years ago. The lesson is that we must be financially solvent! So, we have (praise God!) 8 months salary in the bank in savings. We use ONE credit card and pay off the balance on time each month. We have a budget and live within our means. We tithe, we give to charity.

The "Bush Disaster" may be the best thing that has ever happened to Americans! I know its terrible, but its a wake-up call for people to get real, live within their means........ and stop the debt-madness!


michele   March 2nd, 2009 7:40 pm ET

For the first time in my life I am a ashamed to be and American. What is the difference between Slavery where innocent lives were abused even killed and abortion? What is the difference between what Hitler did when they killed innocent Jews and used their body parts to benefit their own well- being and stem cell research? We have stooped that low as a nation and the Leader is only increasing these policies. That is just the beginning of the bad choices in this administration. Abraham Lincoln stood on principles and fought with courage for what is right and good. He had a conscience and was a true Leader.


Lady Ronae   March 2nd, 2009 7:51 pm ET

I got a part-time job instead of living completely on my retirement. I use the new kind of light bulbs (they really work), but most are made in China, so I feel kind of guilty using them. I recycle all the time (cardbord, cans, newspaper...etc.) Sometimes I'll put a trash bag full of cans in my car and when I see people picking them up on the street, I give them to them so they can turn in for money to help them. I try to make one trip due each Sat., to go to the store and run errands (sp). I buy at Dollar Word or Family Dollar and use coupons as much as possible. I'm making my family do the same and reminding them that we all need to help.


porshia johnson   March 2nd, 2009 7:52 pm ET

instead of buying all name brands, i buy the off brands and i also buy in bulk....


Judith   March 2nd, 2009 8:05 pm ET

I am cutting out the personal luxuries like going to the hair salon to have my hair colored. By purchasing hair color from the drug store and applying it myself, I will have about $100 per month.

judith


Joe G. (Illinois)   March 2nd, 2009 8:24 pm ET

Just no more of them Video pieces on Caterpillar workers who have never been fired or laid off in 25 or 35 years.. that say “Oh no..! I don’t know what to do now!” So let’s get real now Mr. King. Or else I’ll change channel and then complain to CNN.


Barbara   March 2nd, 2009 8:46 pm ET

In these tough economic times, I get back to basics. Keep a roof over my head, utilities running, food in my belly and gas in my car. Anything else is extras and the extras have to wait until the economy gets better.


STOOMZEE.com   March 2nd, 2009 8:47 pm ET

I'm not buying stocks!
and –
I'm living within my means!

Stoomzee
Northport, NY

– – –

Stoomzee Daily Financial Notes:

March 2, 2009 20:40 pm ET

Market will go down to between 0 – 3000 points!

February 17th, 2009 21:30 pm ET

I think President Obama has good intentions!

However –

The Stimulus bill he signed today will FAIL and expand the American financial breakdown.

November 20th, 2008 15:00 pm ET

Any Bailout of the big 3 Auto companies will precipitate America into Bankruptcy.

November 18th, 2008 10:00 pm ET

The big 3 auto guys are begging and extorting us into giving them money by saying it would be catastrophic to let them fail.

The fact is we are facing a catastrophic time no matter what happens and giving them money would make things worse.

Chapter 11 is their best option!

Don't give the car companies a penny!

November 7th, 2008 10:00 am ET

US Government Will Go Bankrupt! . . . "Sooner or later, a crash is coming, and it may be terrific." . . . World in a vicious downward cycle. – Things will get worse before they get better! (YouTube)

October 28th, 2008 10:00 am ET

Tuesday, October 28th – Major Banks just announced they will give Tens of Billions of our taxpayer dollars (from the bailout package) to help bank employee's get (holiday) bonuses! – (about $150,000.00 per employee!) – Ain't that nice to help the rich bankers?
October 22nd, 2008 11:00 am ET

It seems like the only guys buyings stocks anymore are the U.S. Government, buying up the big bank stocks!
The U.S. Post Office (third-largest employer in the United States) should consider delivering the mail once a week (Wednesdays), utilizing this massive work force in more creative ways and saving a large percentage of an estimated fuel budget of $3.2 billion.

October 17th, 2008 3:30 pm ET

I suspect the pending Stock Market-(casino) Crash and Depression will be different and more severe in scope, magnitude, loss, damage, destruction and consequence than the 1929 Crash and the Great Depression of the 1930's.

I disagree with Warren Buffett (born August 30, 1930) about buying stocks at this time!

October 15th, 2008 3:00 pm ET

We are in a Recession – which probably will become a Depression!

The Recession is also believed to be Global with serious consequences and the possibility of escalating to a Global Depression.

October 13th, 2008 7:40 pm ET

Expect – GM, Ford, Chrysler, Merrill Lynch, Morgan Stanley and many others to go out of business or bankrupt this year or next!

October 12th, 2008 10:30 pm ET

Maybe the governments real plan is to make us believe there is a plan!

Injecting money into the stock market to buy bank stocks won't solve the fundamental problems!

It would take hundreds of trillions of dollars to sure up the markets at this point and restore confidence.

Like water finds its own level – only a complete meltdown (a total crash) can fix the broken financial structure – called the Stock Market.

Perhaps our government and the G7/IMF realize this!

October 11th, 2008 9:00 pm ET

The combination of a "Global Financial Market meltdown", major crash, "bank holiday" – period of prolonged shutdown (suspended trading) of the Stock Markets (markets closed down for several months in the 1930's during the Great Depression) and a disputed Presidential election result (disagreement as to who won the election) on Tuesday Nov. 4th may be catastrophic for our country and cause Martial Law to be imposed.

If a terrorist attack on this country occurs during this period of time it would exasperate the situation and be disastrous!

October 9th, 2008 10:00 pm ET

It’s a shame to see the so-called experts on TV telling people to hold onto their 401k's for the long run. (no-matter-what-happens).

They should not be giving advise like that for many reasons.

This country is facing something it never faced before.

The obsolete stock market may never be the same and if you keep your investments in the markets (401k’s included) you may never see your money at all.

Don't worry about sending you kids to college – because they can get their degrees online and save a fortune.

KTM

October 8th, 2008 11:15 am ET

*INDEX CHANGES EFFECTIVE AT MARKET CLOSE 10/8/08 – #04 Merrill Lynch will be removed from the Index – American Express will be added to the Index.

October 7th, 2008 7:00 am ET

I suspect the markets will crash in a slow and steady decline – day by day, until the final crash comes. I see the DJIA bottom at around 1,500 – 3,000 – (possibly 0) in the days, weeks or months to come! The S&P, Nasdaq and all other indexes will follow the DOW's fall (proportionately). The overall percentage loss across the board will be catastrophic.

October 6th, 2008 8:55 pm ET

This country is in serious peril. If – it appears that our financial system is broken, our politicians are deceiving us and the US Government is bankrupt – the only paper worth anything (hopefully) might be the cash in your pocket. A Depression will follow and if Social Security runs-out-of-money, a Revolution would erupt!

October 3rd, 2008

The majority of Democrats just voted to give away about 1$ trillion dollars of our (taxpayer) money to bailout their friends – rich bankers and banks! – The majority of the Republicans voted against giving away our (taxpayer) money? Midday, 10-3-08.

October 2nd, 2008
What does $850,000,000,000 BILLION dollars really cost our government to produce?

Answer: NOTHING – We don’t even have to buy paper to print the actual money any more because no one will ever be able to track it anyway! So the money is not even there on paper to begin with! It’s a little like trying to figure out the Defense Departments Budget and where all that money goes…

Today ANY amount of money can be produced by the click of a mouse by our Government.

This is what the BANKS rely on when they lend money.

What happens to the financial systems around the world when every tom, dick and harry figures this out?

Shareholders: My "BAILOUT PLAN" for the Markets:
Bailout if ya get the chance and be happy to have a shirt on your back when this is over!

– – –

I guess Obama and McCain decided they better vote the same way so if they are right or wrong about the bailout bill we won’t blame either candidate and it will not become a campain issue. It seems by voting for the bill tonight they don’t want to deal with this issue right now because their not sure what to do to solve the financial problems.

By the way,

JP Morgan’s stock hit a new 52 week high today! $49.63.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.0 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands.

At least they are making money from Uncle Sam’s mistakes…

Maybe we should make JP Morgan & Company PRESIDENT and hire Obama, Bush and McCain to uh, h’m give speeches or something?

KTM

October 1st, 2008 9:11 pm ET
I say NO to the BAILOUT bill at this time! – Debate as to the cause of Black Monday (1987) crash still continues many years after the event, with no firm conclusions reached.

Market Sentiment – (Extremely Cautious) – September 28, 2008 – KTM

Northport, NY


reallyworried   March 2nd, 2009 8:48 pm ET

cheaper internet connection-cancelled my wireless phone plan and got on a buddy or family plan-using every coupon I find for groceries-unplugging everything in home when not used-fricken everything I can think of. This is going to get worse before better and I'm very worried.


larry rowland   March 2nd, 2009 8:55 pm ET

hi larry, i am trying to conserve by not driving when it isn't nessesary, & buying food items when the are on sale. & taking advantage of 2for1 dinner s that are being offered by many resturants, when i do eat out. larry michigan


Ace DeGiacomo   March 2nd, 2009 8:59 pm ET

HOW CAN WE BAILOUT A.I.G. AGAIN......... IN 2007 they made 9 BILLION DOLLARS
2008 THEY LOST 100BILLION.WOULD TAKE 10 YEARS TO BREAK EVEN,IF THEY MAKE MONEY ,WHERE IS OUR INTEREST.
FIRE THE CEO AND ALL UPPER MANAGEMENT.


Victor   March 2nd, 2009 8:59 pm ET

This is to Gov. Jindal.

If the highest amount an unemployed citizen of Lousiana can collect for food in a month is $176, why are you rejecting the Federal bail out money aimed at boosting unemployment payment to Lousiana's unemployed?

Do you really believe you "CAN DO ANYTHING" with only $176 for food in a month?


Dodie from CA   March 2nd, 2009 9:01 pm ET

I WILL NOT INVEST IN WALL STREET
I do NOT buy ANYTHING except for food.
I am stretching everything I use as far as I can stretch it.
I now shop at Wal-Mart instead of Nordstrom
I am at the point of moving every dime I have to another country!
I DON’T TRUST ANYONE ANYMORE!!


Barbara   March 2nd, 2009 9:03 pm ET

Larry please ask the governor to give the federal funds his state received for Katrina back to the American people. The Federal treasury could sure use that money back.


David   March 2nd, 2009 9:04 pm ET

I live in Louisiana. If Jindal refuses the Fed. stimulus money, that should be grounds for impeachment. He certainly does not speak for me.


STOOMZEE.com   March 2nd, 2009 9:06 pm ET

The best way to SAVE – MAKE money today is to sell your stocks (IRA's), bonds and gold – STOP GAMBLING – with your money and take your losses.

Take your wife or loved one out to dinner and be thankful to have a shirt on your back when this is over...

Stoomzee,
Northport, NY


Dodie from Ca   March 2nd, 2009 9:06 pm ET

Excuse me... China is spending 1/2 what we are right now... they are also despirate trying to get their economy up..

Lets face it... WE ARE IN A DEPRESSION

No new Cars for the next 10 years
I drive ONLY to work! I need to keep my car for 10 more years
I am stretching my food and eating for less. I do NOT eat out any more


Dodie from Ca   March 2nd, 2009 9:07 pm ET

Excuse me... China is spending 1/2 what we are right now... they are also desperate trying to get their economy up..

Lets face it... WE ARE IN A DEPRESSION

No new Cars for the next 10 years
I drive ONLY to work! I need to keep my car for 10 more years
I am stretching my food and eating for less. I do NOT eat out any more


James from TN   March 2nd, 2009 9:07 pm ET

He said the GOP wanted to give the money to the private sector but, that's not what they did the last 8 years. They bailed out everybody but private sector.


Jay   March 2nd, 2009 9:08 pm ET

On February 24, 2008, during his response GOP response to Obama he said, “$8 billion for high-speed rail projects, such as a "magnetic levitation" line from Las Vegas to Disneyland”. However, today as reported on WAFB in Baton Rouge, Louisiana, Jindal has jumped on board of the rail projects that he called pork. My question is why is Bobby now supporting what he denounced? If it was pork on the 24th that makes the government larger, then it is that way today since he changed his mind. Bobby Jindal is hypocrite!


STOOMZEE.com   March 2nd, 2009 9:08 pm ET

This time next year – there won't be a stock market!


Leslie   March 2nd, 2009 9:09 pm ET

Bobby Jindal is simply no Barak Obama, President Obama got an overwhelming mandate to take the USA in a new direction and that's exactly what the American people wants also the GOP is being held captive by Rush "angry" Limbaugh and that's not a good thing.


Jane   March 2nd, 2009 9:09 pm ET

Govenor Jindal we understand that you do not approve of the stimulus package and you think it is not that right approach. Please tell us what you approve of and and what approach you think is right for this situation that we find ourselves in.


Trey   March 2nd, 2009 9:10 pm ET

I want to ask Gov. Jindal this:

Last night on 60 minutes, they stated that Jindal supported teaching intelligent design in schools. Does he feel that intelligent design should be taught in a scientific atmosphere, and does he think that evolution should be taught as well?


Dave Arnholt   March 2nd, 2009 9:10 pm ET

If the Governor is so concerned about passing on debt to future generations where was his voice when Bush was pushing Iraq at how many trillion and wouldn't even put it on the budget?


Nate Leanin   March 2nd, 2009 9:11 pm ET

Exactly what content from his speech does Gov Jindal think we should pay attention to?

His opposition to high speed rail lines? His opposition the kind of natural disaster prevention that could have helped mitigate the damages during hurricane Katrina?

Nate Leanin
Kalamazoo, MI


Frank Paul   March 2nd, 2009 9:11 pm ET

I believe we have a president who is intentionally destroying the markets and the economy. We have a real life "Manchurian Candidate" in the white house. I do not know which foreign power is controlling him,but he is definetly a marxist who wants to destroy this country and anyone who invests any money in the financial markets while Barack Obama is in power is a fool!


Trey   March 2nd, 2009 9:11 pm ET

Gov. Jindal says that the democrats stimulus plan will not work because it consists of increased spending and waste. What does he, and the Republican party as a whole, propose as an alternative?


Steven Lake   March 2nd, 2009 9:11 pm ET

Governor Jindal claims that we need to have a national debate/ conversation on alternative views to the economic crisis, health care, and taxes... but that conversation was had in the presidential election, and the debate won by President Obama.


Marsha   March 2nd, 2009 9:12 pm ET

Save money: make sure I know the difference between want and need!

Jindal and Limbaugh have one thing in common...they both LOVE to hear themselves talk...a lot of noise but not a lot of substance...I STILL don't know what the Republicans solutions are and I'm a independent political junkie!

It's obvious that if we keep doing what we have always done, we will continue to get what we get!

The republicans need to shut up and LISTEN!!


ahmed   March 2nd, 2009 9:12 pm ET

Governor Jindal, the republican party pretends to care about the "little folks" but at the end of the day, I will always consider you as the party of "no". The party that's standing between success and myself. Obama's stimulus plan will help me "the little man" in many ways. So you tell, why should I ever vote for you? The republican party is finished.


john in buffalo   March 2nd, 2009 9:13 pm ET

bobby jindal should consider running for pres in 2010.This man has all the qualites we need for our coumtry.


chris   March 2nd, 2009 9:13 pm ET

Perhaps taking the path of many of our president's appointed cabinet....just don't pay my taxes. That will save 30%.

Many people forget that Jindal was not Governor during Katrina..we had a Democrat as a Governor.... she failed miserably. Jindal doesn't want to accept the unemployment money so that he can continue to grow jobs in the state as he has been doing even in these trying times across the country.


Bill Treasure Lake   March 2nd, 2009 9:14 pm ET

This Gov. is a joke ... what solutions does he offer the Pres. Obama? If he is the Best Hope for the GOP ... Obama will be Pres. for another 4 years after his first term .. It's time for the Reps. to start working for the people that elected them. They often times forget why they are in Washington. Oh, incase they forgot.. it's to represent the PEOPLE the PEOPLE SPOKE .. in the last election .. get over it and get back to work.


STOOMZEE.com   March 2nd, 2009 9:14 pm ET

buy tulip's – not stocks – there worth more!


Margaret   March 2nd, 2009 9:14 pm ET

Gov.,

I understand your concerns, however...why didn't you speak up during the last four years of the Bush administration and discuss what they were doing? Also, you continue to state "we want our government to succeed," then give President Obama the respect he deserves and allow him to try and stimulate the economy.


Clay Duke   March 2nd, 2009 9:15 pm ET

Governor Jindal: How many of the approximately 26 million small businesses in the U.S. would be affected by the income over $250,000 proposed tax increases and how many of those actually employ people?


Henya   March 2nd, 2009 9:15 pm ET

Hello,
I stopped shopping, but I still support our new President, not doing any thing it not an option,


Barbara   March 2nd, 2009 9:15 pm ET

The republican party does not like the idea that the federal treasury is being put to work for the everyday American. Look at the policies, health care, energy and education. Why anyone in the republican party would not be in favor of funding these programs is a mystery to me.


michael   March 2nd, 2009 9:15 pm ET

he still has not answered any questions. i am from new orleans, bobby jindal has not done a thing for us. it was govonor blanco who worked to get things done. jindal is a big buisiness flunky ( sorry ) , i just get upset when you look at his history, he has forgot where he came from.


Rick   March 2nd, 2009 9:16 pm ET

If the Republicans are so right "now", why didn't they control the economy while they were in office and had the opportunity. Now it appears they are blasting the other side for what they in fact created.


Bill Treasure Lake   March 2nd, 2009 9:16 pm ET

Right Trey, that was my point .. what do they (the republicans) offer .. except bitterness that they are in the minority


Jon Lauter   March 2nd, 2009 9:16 pm ET

Interesting that the republicans are complaining about the unsustainable deficits now that a democrat is in the WH. GWB inherited a SURPLUS. Then the decider decided to start a war... and didn't see fit to ask the country to pay for it except with our children's blood and our grandchildren's money. It should be no surprise we're in the financial bind we're in now. GWB and company decided to let their friends and people of their class raid the treasury and let the rest of us worry about paying for it. It's no wonder no decent Republican candidates ran for Pres. It's a no-win job for the next ten years to dig out of the mess the Republicans got us into.


la profe   March 2nd, 2009 9:16 pm ET

Gov. Jindal only repeats the Republican party line. We need to hear NEW IDEAS, and he and his party offer none. He needs to read anything about Keynsian economics to understand what to do in a crisis like this. His party's policies are mutually exclusive from those being passed by Congress. Those of us (the majority of US voters) who voted for change want that change, not a continuation of failed policies. More has been done to move the country along in the past days since January 20 than in the previous 8 years of Republican administration. His ideas simply do not work. You cannot sit on your hands and hope this crisis goes away. Shame on your decision not to help the people of Louisiana. You should be impeached to get you out of the way so your people can get help.


larry   March 2nd, 2009 9:17 pm ET

On the Gov. Comment about needing a debate: Didn't that take place during the election? Where were these critics when President Bush was spending on the Republican platform?


chris   March 2nd, 2009 9:17 pm ET

Jindal is saying don't waste money on things that do not increase jobs...why is that so hard to understand?

Our president wants to limit the amount of charitable deductions a person can make (if they make over 200K), this will destroy philanthropy....but I guess many of these people will save some money by not donating to the non-profits.


shamla   March 2nd, 2009 9:19 pm ET

Dear Gov. Jindal,
it is great to try and act smart and criticize the President's plan. May I know where you were when Lehman brothers, citigroup.AIG etc crashed?
Was Loisiana washed out at that time.
Stop critcizing and start lending a helping hand like a Great american,
EVERYTHING DOES NOT NEED TO BE CRITICIZED!
ALSO PATRIOTISM OVERRIDES SELF PROPHECY!


Dodie   March 2nd, 2009 9:19 pm ET

We must stop handing out money! My grandchildren will be paying for this. This is crazy

Stop giving AIG any money! I am tired of bailing out these people and others only to see them purchase corporate jets, going to Las Vegas, huge bonuses...
THIS WILL CREATE A 2 CLASS SYSTEM with no middle class!


Johnny   March 2nd, 2009 9:19 pm ET

I am confused on how Republicans believe tax cuts will spark the economy. That does not create jobs that only helps people keep money that they will give up anyway. Everyone complains but no one has an answer brecause they do not want to take responsibility for it. But, THE PRESIDENT will.


Clay Duke   March 2nd, 2009 9:19 pm ET

Senator Thune, How many of the approximately 26 million small businesses in the U.S. would be affected by the income over $250,000 proposed tax increases and how many of those actually employ people?


Sara, Redmond, WA   March 2nd, 2009 9:20 pm ET

I am being lot less wasteful than before. I drive less. I also make sure that I do not waste food. At home we collect any cash/coins we have at the end of the day – we found that this helps in household emergency funds.


Barbara   March 2nd, 2009 9:20 pm ET

Chris if the only reason someone contributes to a charitable organization is for the tax deduction than something is wrong with the gift they are giving. You give because you want to not because you get a tax break.


Clay Duke   March 2nd, 2009 9:20 pm ET

Senator Thunel: How many of the approximately 26 million small businesses in the U.S. would be affected by the income over $250,000 proposed tax increases and how many of those actually employ people?


karen waggoner   March 2nd, 2009 9:21 pm ET

To Governor Jindal,
I am so tired of hearing Republicans criticize spending to support the arts in our country. They may care about sports, big business, and their bank accounts, but pay no attention to the idea that truly civilized people express themselves through the arts. It is vital to human development. Gov. Jindal shows his lack of sophistication and intellect when denying support for the arts.


Mei   March 2nd, 2009 9:21 pm ET

I think in this economy, which is highly unpredictable, the best way to save money is to not invest at all! After seeing all the people who invested lose money big time, I think I have been clever in not investing in the stock market or even 401K. In comparison, I have more money than my friends who invested.


David - Atlanta   March 2nd, 2009 9:22 pm ET

I'm maximizing the amount of money I can put away into savings accounts that get as high interest as I can find. I've also moved all of my 401k contributions into investments with guaranteed returns. (It ain't much, but it beats a 50% loss.) I've also put all of my major spending plans on hold until I decide that it's "safe" to go back into the water.


Chris   March 2nd, 2009 9:22 pm ET

Sad to say -I'm stopping my newspaper delivery (except Sunday)
Stopping Netflix
Calling my cable company to downgrade service, no more HBO
pulling the plug on the old land-line phone (finally)
purchasing a new cell phone service that's cheaper
stopping internet service, and will lurk on the neighbors wireless wifi
riding the bus or bicycle and leaving the car home
starting to use store coupons again
brownbagging lunch
reducing insurance coverage
and getting out of the stock market


STOOMZEE.com   March 2nd, 2009 9:22 pm ET

We need to stimulate our minds and imaginations (build us into Robotic People) – and everyone will live longer & happier and the economy will benifit – but the stock market (casino) game is OVER.

Mark my words.
KTM


Bill   March 2nd, 2009 9:22 pm ET

TO SAVE MONEY, I DO ALL MY SHOPPING AT COSTCO.
ALSO, COST IS THE BEST STOCK TO BUY.


mbayed   March 2nd, 2009 9:22 pm ET

What are Jindal's accomplishments as a congressman?


David   March 2nd, 2009 9:22 pm ET

I have no money to save!


tom marshall   March 2nd, 2009 9:22 pm ET

Commentators are always talking about saving the banks and keeping our financial markets working. Yet, everyone is afraid to loan money. Please tell me I am wrong!! “Regular banking institutions” are required to keep roughly one dollar for every ten dollars they lend out. “Investment bank corporations” (i.e. Merril Lynch, Goldman Sax) kept roughly one dollar for every thirty to forty dollars they lent out. If they have a default rate of fifty percent, that would mean fifteen to twenty dollars lent out for every dollar held in reserve by those “investment bank corporations are valued at zero. For arguments sake, if the total held by financial institutions were 1 trillion dollars, that would mean fifteen to twenty trillion dollars if defaulted assets. How and who make that up, so they do not go into bankruptcy? I would think the real looming economic disaster. P.S. What about the credit default swaps that go with the fifteen or twenty trillion?


candice   March 2nd, 2009 9:22 pm ET

I've cut back eating out, cut back on cable, and cut back on vacations.


Oniha   March 2nd, 2009 9:22 pm ET

I do not undertsand the GOP logic of not wanting the government involvement in the current economic crisis. Who initiated government involvement in the first place? Did the Federal government impose itself or did the private sector ran to the government?


Johnny   March 2nd, 2009 9:22 pm ET

We have to bailout AIG. AIG insures to many of Wall Streets Corporations such as Airlines, Cruise Ships, Hotels etc. They keep the funds in the US. If not you will LORDs of LONDON getting the money. That means more money going back across the water.


Andress Blackwell   March 2nd, 2009 9:22 pm ET

Saving money today means making very difficult decisions... as a business owner it means making sacrifices. Cutting hours, finding every single way you can to reduce expenses and praying that what you're doing is the right thing... no one has an absolute answer so we simply do the best we can!


Shirley Bay   March 2nd, 2009 9:23 pm ET

I am not buying anything that is not absolutely necessary. I am going to pay off credit cards and not go out to eat as much. Put what I can in savings account. May even plant a garden this spring.


Malin   March 2nd, 2009 9:23 pm ET

In order to save money I am spending only cash and leaving my credit cards for online subscriptions.

I am really tired of both parties playing the blame game and no one is talking about this. The truth of the matter is that this is a tsunami of irresponsible behavior by indiviudals and political parties:
-Irresponsible loan instruments
-Irresponsible individuals not saving their money
-Irresponsible governments spending beyond its means.


Augustine - Savannah, Georgia   March 2nd, 2009 9:23 pm ET

Some claim we are over-spending. Others say the spending in not even enough to take care of the mess that was created in the last 8 years.

My problem is that the Republicans do not see anythins good in what the president is giving. They do not think it will ever work. They all wish it will fail.

I think time will tell. We all pray for the best. At worst someone will be put to shame.


Micah   March 2nd, 2009 9:23 pm ET

I've stopped ordering expensive mochas and lattes at Starbucks and have started going for a small cup of black drip coffee every morning at the local bakery. It saves me loads of cash.


Ken   March 2nd, 2009 9:23 pm ET

I am not really participating in the latest economic gloom and doom. I have worked 1 full-time and 1 part-time job for over 26 years. I have always saved and invested my money. I have never been a spender, needing the latest and greatest gizmos and gadgets. Because of that discipline, I don't feel any pain. ... If I did, I would only spend enough to stay alive, the bare necessities. But, I am not affected at all because of decades of frugal living.


nick   March 2nd, 2009 9:23 pm ET

Hi Larry,
What I'm doing is taking my 250 dollars my wife will get as part of social security and saving it! This spending is ridiculous. The only thing that will get folks back to work is a tax cut on the top 5% of the people who create jobs. Why is obama punishing them? Bill Clinton certainly didn't as he knew how to create jobs.


tjones   March 2nd, 2009 9:23 pm ET

I have cut back on eating out. My ten year old daughter loves to eat out, so I take my lunch through the week to work, and on Friday's I let her pick where we will eat that night.


Narinder Singh   March 2nd, 2009 9:24 pm ET

I am going to stash all my cash under the piloow and have a good night's sleep.


Doug   March 2nd, 2009 9:24 pm ET

So far nothing any different. Just watching what I buy.


Debbie   March 2nd, 2009 9:24 pm ET

I just love how alot of people are pushing this problem on President Obama. I think it was President Bush that did this to our country. President Obama is trying to fix our country.. maybe the people should quit blaming him and blame Bush for what he did to this great country. Rush is never happy unless he is bad mouthing someone!!!


Jetro   March 2nd, 2009 9:24 pm ET

Larry, these days my better half and I are saving some $ by not going out for dinner as much, looking for better prices on groceries and reducing unnecessary expanses.


Choudhury   March 2nd, 2009 9:24 pm ET

Stopped any travel that is not absolutely required. Cut all spending on luxery item.


Johnny   March 2nd, 2009 9:24 pm ET

Cutting my landline service and just using cell phones.


Susannah Lints   March 2nd, 2009 9:24 pm ET

Larry,
We decided to stop adding money to a plummeting 401K and pay off the mortgage and all outstanding debt. We will want to invest again in the future but not now.


Dodie   March 2nd, 2009 9:24 pm ET

If the stocks jump back up within the next week, then someone is controlling the stock market. ... those CEO's, Cheney, Rowe who have made billions of dollars in the past 8 years.


Bill Treasure Lake   March 2nd, 2009 9:24 pm ET

you don't seem to understand Chis, OUR pres is trying to get us out of the mess your GW got us into .. us and the entire world. He was not the sharpest tack in the box and everyone knows it ... Pres. Obama is trying to do something .. what did your beloved Republicans do for the last 8 years?? can you explain that? .. ummm I don't think so.


ATUL SHAH   March 2nd, 2009 9:24 pm ET

Hi Larry & Gov Jindal,
I think free market is a hoaks because it make very few people rich and lot more people a daydreamers, that dream will not realise anytime soon, " may not in life time", and at the end people go for the ponze scheme like Maddof, too many MBA's comeing up differant manipulations of numbers they climb the ladder so fast and this mess will be on our lap, If we make taxes are complete zero as per our beloved republicans, then how the govt will run? Let's keep the jungle rule that will be the true free market. Please do not call A FREE COUNTRY BECAUSE EVERYBODY HAS TO FOLLOW THE RULES AND REGULATIONS.
I


Barbara   March 2nd, 2009 9:24 pm ET

Correct me if I am wrong Mr. Stein but wasn't it former president Bush that started this bailout deal? If we shouldn't do it why did he?


Anilkumar   March 2nd, 2009 9:24 pm ET

Its been very difficult to save the money as because we cound not be able to get the more money.

Saving some money while buying groceries.
Not using car for office and using bus
Not spending money during week end enjoyment
not using money to buy drinks
not planing to go travel during vacations


Jonathan Maldonado   March 2nd, 2009 9:24 pm ET

What is our country coming to! Wake up America and do your part! We need to stop complaining and whining about why our government isn't doing what we wanna see, and instead get up and do something about it. Our country wasn't build by people sitting back and doing nothing, our country was built by people that wanted something better. So get up and get out, speak your mind and don't be afraid of saying what you feel. Our nation would not be what it is today if people didn't speak up.


arvin shah (new jersey)   March 2nd, 2009 9:25 pm ET

diffrenciate between need and want, hold onto your money, do micro planning.. for example if u have three or four checking account, cut down to one, most bank charge monthly fees. substitute your daily buys with cheaper products starbucks v/s 711 coffee for example. try carpool for daily commute... there are many ways you can save atleast 30% of your expenses with out too many compromise.


chris   March 2nd, 2009 9:25 pm ET

Daschle knows how to save money in these tough times... I'll talk to him...


Jeffrey Gold   March 2nd, 2009 9:25 pm ET

Thune is wrong. It doesn't mean that what has been done will save us, but to assume the Market-particularly Wall Street-is an accurate measure of the health of the market, is the same kind of flawed thinking that got us into the mess we are in. Frankly, I'm sick of the stock movements being broadcasted daily, as if we're on some emotional leash. When stock prices can go up or down-not based on the fundamental health of a company, but mere perception-it goes to show that this is a tool of manipulation, rather than a real economic indicator.


STOOMZEE.com   March 2nd, 2009 9:25 pm ET

The Stock Market is a Casino type model and should be outlawed!


Tim   March 2nd, 2009 9:25 pm ET

we are waiting on Obama to send us money to help pay our blls.


Jo Ann, Ohio   March 2nd, 2009 9:25 pm ET

The American people may have "chosen" Obama, but I am not sure they realized how much he would cost.


Nina   March 2nd, 2009 9:25 pm ET

I've cut back on any and everything that is a WANT and am only buying things I NEED: no Starbucks, no new clothes, nothing that would be considered a "splurge".


mimi   March 2nd, 2009 9:26 pm ET

Is this Bobby Jindal man for real? He thinks that Rush Limbaugh is a great voice for the conservatives, which means he agrees with what he's saying, in other words, HE WANTS PRESIDENT OBAMA to FAIL! He says he wants the country to succeed but not once did he say he want the President to succeed.

How does a country succeed Mr. JINDAL?

Well, MR. JINDAL, if the president fails, our COUNTRY FAILS!

Rush Limbaugh looks like he will be the next GOP nominee because to me it appears like the GOP are all afraid to go against him........what does that tell you?


Jeanette Salfeety   March 2nd, 2009 9:26 pm ET

I've let my hair grow longer and saved hundreds of dollars in the past year by getting fewer haircuts. I've gone back to the long hair i had decades ago as a "flower child" and love my new/old look.
Jeanette


Paulina   March 2nd, 2009 9:26 pm ET

I brown bag my lunch; use public transportation; cut out take-out meals to once per month and have stopped going out to eat; instead I invite my friends over for dinner and everyone contributes a dish.
I have not used my credit cards for the past 3 months and I am paying down my debt as much as I can.
However, I am still investing in the stock market although I did lose some value.


Scotch   March 2nd, 2009 9:26 pm ET

Hi Larry,

I'm recycling my condoms. Have you priced a box of Magnum XL's recently?


Dodie   March 2nd, 2009 9:26 pm ET

Federalize AIG instead of bailing them out. Obviously they do NOT know how to run a corporation.


Nicky Kirkpatrick   March 2nd, 2009 9:26 pm ET

At least the money being spent now isn't all going to Iraq and is being kept in the US to try and clean up the mess the Republicans and Bush/Cheney left. This mess didn't start Jan 20th people – I find it ironic now all the Republicans have come out of their shelters and have a lot to say – yet when Bush was sending jobs and all the money out of the country – they were nowhere to be found. Very disappointed that Jindahl is a Limbaugh supporter – he just lost my respect.


Brenda   March 2nd, 2009 9:26 pm ET

We are doing nothing Larry. We don't buy anything unless we have to, we don't drive somewhere unless we have to, we don't go to the movies, we don't down load itunes, we don't eat fancy dinners or drink, we don't travel. we don't entertain, we don't go to pro sports events, concerts, or ski trips, we don't shop for clothes. Our fun has come to a complete standstill. Life is boring, really boring. We are just stitting here watching you on TV and our retirement money fade into the sunset. If we don't find employement soon, we will lose the house. That's it!


Scott S.   March 2nd, 2009 9:27 pm ET

DATING is definitely on "hold"! The dollar doesn't get you very far these days and dinner with a date can easily run $100. – That doesn't even include entertainment afterwards!


Kathryn Musial   March 2nd, 2009 9:27 pm ET

We have cut back on our restaurants, cut back on unnecessary vehicular use, have decided not to buy the new car we had planned and have cut back on vacation plans. Formerly we exactly the opposite!


Bill Treasure Lake   March 2nd, 2009 9:27 pm ET

OH I REMEMBER WHAT THE REPUBLICANS DID FOR THE LAST 8 YEARS .... VOTE THEMSELVES A RAISE .... LOL .. and sit on their back sides. well this pres. is moven a little too fast for the old machine ... maybe it's time to get a NEW ONE 🙂


Helen   March 2nd, 2009 9:27 pm ET

I am paying myself first, stopped going out to eat every weekend, and cutting up all my credit cards. I m hunkering down until the economic hurricane blows away.


colleen from canada   March 2nd, 2009 9:27 pm ET

it is unbelieveable that people do not give the President a chance, and it is truly awful that anyone can say they hope to see the President fail. That is just not acceptable kind of talk. Why anyone would listen to Limbaugh is beyond me. People should be trying to work together, work with the President, and get the economy going. No wonder their is such doubt about the economy when you have people listening to nutcases such as Rush. I am a Canadian, and just cannot believe that people cannot give the President a chance to try and fix a problem that was created by the last administration. It is politics at its worst.


Robert   March 2nd, 2009 9:27 pm ET

" WE HAVE PLENTY OF MONEY, WE CAN PROVE THAT WE CAN

BORROW IT""

ARE YOU KIDDING,, Did he just say that,,,?????


Jerry   March 2nd, 2009 9:27 pm ET

Larry,

You used to be the best interviewer on TV, in large part because you helped the folks being interviewed to come across at their best. But in this evening's interview of Gov. Jindal you let your infatuation with the President get the better of you, putting words in the Governor's mouth, interrupting him, and asking "Have you stopped beating your wife" questions. We expect more of you and look forward to your return to the high standards which made your show so popular for so long.


Linda   March 2nd, 2009 9:27 pm ET

Hey Big Ed

I listen to you everyday. We do have to give this stimuilus bill a chance to work, why won't people give it a chance. Ed just keep on pushing you're great


STOOMZEE.com   March 2nd, 2009 9:28 pm ET

If we did'nt have a Stock Market we would'nt have this financial crisis.


Armand Christopher   March 2nd, 2009 9:28 pm ET

Larry,

I am seniors real estate specialist watching our elderly population lose value in their homes at a time when they need assisted living or skilled nursing at a cost that is now unreachable. What is going to happen to the elderly?


Dennis Reinke   March 2nd, 2009 9:28 pm ET

I am not standing around and won't get a bailout. I am continuing in my business to give quality and good service, just like I always have.
I am 70 and have simplified but have few options.
I have seen false hope and promises before.


Diane D'Amato   March 2nd, 2009 9:28 pm ET

I think the best, most cost efficent stimuls package would be to give every American $1 milion dollars. That would surely stimulate spending and ease the woes of the whole nation. Home mortagages, health insurance premiums, credit card debt would all be relieved.


John   March 2nd, 2009 9:28 pm ET

We are simply purchasing the bare essentials and trying to save.
Please stop the government spending! Stop the bailouts! Obama is a freight train out of control. It's 1929 all over again.


casey parikh   March 2nd, 2009 9:28 pm ET

we work 130 hrs aweek and make over 350K. Kids coolege savings is wiped out. i plan to work extra 4 hrs a day for five days as cashier to save some money. We have cut vacations (no vacation),no lawn, snow or temite service, no eating out,no shopping and no charity!! not buying new car. fixing what we have. staying home most of the timeCutting expenses at every opportunity we get.


Richard Simon   March 2nd, 2009 9:28 pm ET

Consumer confidence is being clobbered by media & Republicans.
How can consumers spend, when there is 24 hours of repetition of negativity, with bad prophesies, and constant rejection of President Obama's efforts? Many (dis)loyal Republicans are hoping for his failure, for their own political gains! The over-employed "talking heads" of the media are sinking any optomistic comments! Larry, why don't you discuss this effect?


Margaret   March 2nd, 2009 9:28 pm ET

Question for Mr. Stein –

Mr. Stein, you are a weathy man, and God bless you for that. However, what about us in the middle-class, the majority of people of this great nation, who can't afford to condemn this package before it even has a chance.

What do you suppose we do?


Pam   March 2nd, 2009 9:28 pm ET

I haven't been doing a lot to save money since both my husband and I have recently lost our jobs. But one thing I think I am about to do is cancel my cable subscription and stop watching the non-stop bickering that is going on between the very politicians that I am paying my hard-earned tax dollars to roll up their sleeves and get to work to solve this problem that many of them in high offices of government have created.

Instead of appearing on talk shows to run for an office that is already filled, they need to shut up and get to work. Maybe if I cancel my cable and stop watching shows like Larry King Live, they will be forced to go back to their cushy little offices and start to work together to fix this mess. At least they won't have an audience for all of this partisan political posturing while I'm sitting at home wondering when all of this is going to stop so we can all get back to work and save our country!

Enough already!!!!


NEITHER DEMOCRAT NOR REPUBLICAN   March 2nd, 2009 9:28 pm ET

@ STOOMZEE.com In some ways, I think the change needs to start there...with wall street

The economy will NOT rebound until 2012 or more...


Daniel Polowetzky   March 2nd, 2009 9:28 pm ET

Republicans like Bobby Jindal easily condemn Obama's economic responses to the current depression, yet offer no specific plan of their own. What is the Republican plan for economic recovery? Apparently, any governmental involvement, per se, is abhorrent to them on principle.

If there are specific economic alternatives (not merely ideological alternatives) to Obama's plan, then I would like to hear them. But so far no Republican plans have been offered.


Arnie Sherr   March 2nd, 2009 9:28 pm ET

Larry,
The President has surrounded himself with 31 of the most knowledgeable and experienced economists, including Warren Buffet. I am baffled by the arrogance of those conservatives, who a mostly lawyers, that actually think they are wiser.


Bill Lane   March 2nd, 2009 9:28 pm ET

Larry, Gov. Bobby Jindal and the rest of the Republicans only want the Gov to succeed if it's their way. These great Americans always raping themselves in the flag until the country really needs them. Look at how all they have offered is tax's cuts. We have had eight years of tax's cuts where are the jobs? How can they be so against something that has never been done before but they know that it won't work. Of course they never read the stimulus plan but they know it's full of wastful spending. Give me a break either help paddle or get the heck out of the boat.


CJ Randall   March 2nd, 2009 9:28 pm ET

I must admit...I was rather stunned that Steele just buckled and cow-towed to Limbaugh with an apology....
At a time when his party is craving strong leadership, now would have been the time to remind Mr. Limbaugh that he's just a radio anouncer, and if he really wants to complain and milk himself a following, then he should try passing a bar exam and get into the business of making law and federal policy. As glad and filled with ethnic pride as I am as an african american for Obama and the election, I'm really ashamed to see Steele acquiescing to Limbaugh's blustering in a popularity contest. It was catering to the extremists of Conservatism that landed the Republican party its defeat on November 2nd, and I think Mr. Steele would do well to remember that and stand his ground.


chris   March 2nd, 2009 9:29 pm ET

Bill of Treasure Lake... GW was not "my president"...I'm independent. The Iraq war is a huge mistake...costing us dearly. But throwing money into pork / earmarks is not the answer..... I'm fine with spending money if it is CREATING jobs. Your comment on "Pres Obama is trying to do something" reminds me of the Checy Chase line "we're lost, but we're making good time!"

There you go Bill... get back to waiting on you check.


John-Erich   March 2nd, 2009 9:29 pm ET

The Republicans are absolute hypocrites. These are problems this administration inherited. Right now, the United States does not need unpatriotic sore losers who are casting aspersions on an administration that has not even been in office for 60 days. We need to act in unison. What can the Republicans offer the American people other than negativity? What are they really offering in terms of a constructive dialogue to solve this problem together with the Democrats other than categorically denying every idea from across the aisle? I am socially liberal, but fiscally conservative. But the Republicans blew it for 8 years. So, shut up and sit down. You had your chance and failed miserably. Miserably!


mary ann   March 2nd, 2009 9:29 pm ET

i'm growing tomatos and okra in pots.


Sean T   March 2nd, 2009 9:29 pm ET

I'm in New Orleans, LA and Gov. Jindal has no idea whats going on in his own state! For him to come on CNN and talk about what should be done in Washington he should pay more attention to whats happening in Louisiana. In part he says they have done great things in New Orleans with schools and such, well I tell you what I will give you something to research. Google "Who Stole Fortier High School" or Look up the drop out rate since charter schools started in New Orleans. Tell Jindel to fix the problems in New Orleans first before he criticize anything!

Sean T.


Bill Treasure Lake   March 2nd, 2009 9:30 pm ET

Aww Chris did I strike a nerve?


Ann   March 2nd, 2009 9:30 pm ET

Hello, here are some things we are doing to save money: first thing is eating nutritiously and exercising to stay well. We collect our own kindling for our wood stove, from trees that "shed their branches" on our property.

I buy wood shavings in quantity to use for my kittys' litter box instead of buying expensive cat litter.

We comparison shop to get the best buys. We are getting ready to put in our garden this year; we do our own yard work instead of hiring it out.
As my mother (who lived through the Great Depression) says: "Make it last, wear it out. Use it up, or go without."

Great show Larry!


Robert   March 2nd, 2009 9:30 pm ET

How is spending money on "healthcare reform",, money spent on education,, and building road and bridges and investing money in green energy stimulate the economy now,,????

please someone explain this to me..... people are losing their jobs NOW,, not in 5-10 years,,,, NOW,,,,,

GIVE people tax breaks not increases,,, this is not sustainable...


Wendel from Ohio   March 2nd, 2009 9:30 pm ET

I think we should all get drunk like Wall Street and the Democrats. Then, we can do stupid things and have an excuse.


Joper   March 2nd, 2009 9:30 pm ET

I am actually spending more to help stimulate the economy... I was in a K-Mart yesterday and it was virtually a ghost town. There was 1 cashier open and there were around 5 customers. It was a Sunday afternoon!!! I dropped $250 for a ping-pong table and some kids toys!!!


Trev   March 2nd, 2009 9:30 pm ET

Gov. Bobby Jindal dodged the question reguarding Rush L and the leader of the GOP? I though Bobby Jindal was a smart man until now. He's talking the same trash that ExPrez Bush and the GOP has been saying for the last eight years. "As of today (and thanks to Bobby Jindal) I will no longer support the GOP." They can't blame Prez Obama for the country's current issues." The GPO need to get it toghter QUICK!


Nayan Shah   March 2nd, 2009 9:31 pm ET

Hi Larry,

My wife and I created a budget plan (call it a spending plan!!) and follow it from month-to-month. We keep track of our expenses by writing them down. We use credit cards minimally, as we believe, we spent more that way before. We try to stay close to the budget and re-adjust if necessary after discussing with each other. That has helped us a lot in the past few months.

Thanks,
Nayan Shah


Jo Ann, Ohio   March 2nd, 2009 9:31 pm ET

Schultz, is an idiot! What does he mean Obama is not for bailouts? He voted for the bailout with "no strings attached" back in October!!


Amanda   March 2nd, 2009 9:31 pm ET

Of course the deficit became worse under the Bush years, between 911, the subsiquent increase in National Security, the war in Afghanistan and the war in Iraq, money was spent. As result we were kept safe and no attack has since occurred on American soil. Instead of continual bashing of Gearge Bush, perhaps we should thank him for keeping us safe. I would love to have seen how Obama or Clintons budgets would have looked had they faced what GWB did during his presidency. Enough blaming others for the "inheritance." The economy is worstening because taxes are increasing resulting in less money for people to spend within our economy. Billion dollar stimulus packages thus far have not helped repair broken companies, why would a few more billion! Stop throwing hard earned money away and stop making excuses! Though pointing fingers always seems like the easier thing to do....


Margaret   March 2nd, 2009 9:31 pm ET

Mr. Stein,

Why are all conservative's/Republicans against this when the last eight years were the major cause? Why won't you folks give the package a chance? We need to create jobs why are you so against this?


Evey,Oregon   March 2nd, 2009 9:31 pm ET

Unfortunately,There is no saving money in my home at this point.Our small construction business is starving and it takes every penny my husband and I make to pay the bills and keep food on the table.Where were the republicans when George Bush decided to spend $12,000,000.00 a month on the war?A decision in my opinion that is largely responsible for the problems our country faces today. 7 years & $1,000,000,000.00+ later, they are crying about unnecessary spending in Washington.Seems to me the unnecessary spending has already taken place. It is now necessary for President Obama to spend money to clean up their mess.


Michael   March 2nd, 2009 9:31 pm ET

The banks will not loan to someone who does not have a job. Get us back to work so we are able to borrow.


NEITHER DEMOCRAT NOR REPUBLICAN   March 2nd, 2009 9:31 pm ET

I have cut up every credit card I have as I have them all paid off.

We are becoming a 2 class system. The top 1% in wealth are being scared and taking every last dollar they can take which will drop us right out the bottom!


Bill Treasure Lake   March 2nd, 2009 9:31 pm ET

Oh and btw Chris .. I have news for you GW WAS your Pres. LOL .... as he was mine .. but thank God I never voted for him!


Robert   March 2nd, 2009 9:32 pm ET

why aren't you posting my message???


Tamara   March 2nd, 2009 9:32 pm ET

Larry,

All we can do is pray, The average American is making less then 40,000 a year and barley can put food on the table how are we suppose to save?


Rich   March 2nd, 2009 9:32 pm ET

Gov Jindals Bush administration took our Country's Economy (a brand new car ) and drove it around for 8 years and did nothing to maintain it. Nothing for the Schools, education, Business's (except CEO salaries ) and when the car had no maintenance for 8 loooong years they wonder why the car broke down and doesn't run very well..... Now.... Hello..?
Bush's policies destroyed and ' crashed the car ' ! Now they call the Insurance Company (the Obama Administration ) and expect Them to fix it.
And if Bobby wanted to be totally 'Honest'... why did he lie and make up the Fake Katrina story and Lie to all of America... tell us Bobby?
His lie was debunked within an Hour after He told the Lie.


Ronald   March 2nd, 2009 9:32 pm ET

Here is what I'll do to save money:
I will stop paying my mortgage, and save the money for mortgage payments. I will stay in my house until I get kicked out. The bank will reward me for my bad behavior by letting me pay a little bit just to stay longer. The bank employees don't care because its not their money anyway.


bill   March 2nd, 2009 9:32 pm ET

Larry your kidding save money pay property tax pay school tax pay credit cards keep our 1987 vehicle going take care of the kids pay the mortgage
maybe we should go to a flat tax and every chips in.who is going to give me the money to one of all the new cars the auto co. will have on hand.give us the new cars of the future now not like we were told 30 years ago the the fuel costs it the roof.

Bill
Wurtsboro N.Y.


Gladys Green   March 2nd, 2009 9:32 pm ET

I have cancelled subscriptions to all the liberal biased newspapers and magazines whose propaganda helped put Obama in office. I have stopped buying, renting, or watching on TV any movies with liberal Hollywood stars who have spread lies about President Bush and our country yet now praise Obama and his march toward socialism. I have written e-mails to the Democrats in Congress who caused this financial mess by forcing banks to make loans to people who could not afford homes while blaming the decline on Republicans and President Bush. I have begun reading good novels and stopped watching the decline of "so-called" entertainment on TV.


James Isbill   March 2nd, 2009 9:32 pm ET

Larry, Ask governor Jindal what the republican plan for the economy really is. We had a republican president for the last 8 years and we deteriorated into this mess. During the last year of Bush's presidency the congress passed a $750B stimulus package to stabilize the markets. Now Obama wants to stimulate the economy with stimulus packages in the short term and he states that he can cut the budget by the end of his first term. Mc Clain and other republicans are only critical but what specifically is their plan since they haven't had one for 8 years ? Rush Limbaugh hopes that Obama fails but that is reckless and if president Obama does fail we are certainly doomed.


Sandra Clayton   March 2nd, 2009 9:33 pm ET

I don't understand how the REPUBLICANS all have these brilliant ideas for President Obama ; what happen, they were not allowed to share them with President Bush?.


Henya   March 2nd, 2009 9:33 pm ET

I agree with all of you, The President is working on Housing Environment infrastructure abdication
health care 2 wars they just don't get it,
AND BEN STEIN GO HOME


Phil Boiko   March 2nd, 2009 9:33 pm ET

Drive less, eat at home more ofter, cut coupons and be shopping for food with a better eye on prices.


Robert   March 2nd, 2009 9:33 pm ET

why is it,, if CNN doesn't like a comment, although it breaks no rules,,

they don't post it??


Charles Stoner   March 2nd, 2009 9:33 pm ET

You ask what are the common folks doing to save money, well we (the common folk) don't have any money to save. Why not help the common folk meaning those of us who don't make 60k per year witha government rebate of a couple thousand dollars. You kick some money down the the way lower income people then we will be tempted more to spend money and get the economy going.


Juli   March 2nd, 2009 9:33 pm ET

Dumped our narrow-minded Republican based newspaper, dropped my cell phone, shop bargains for food and clothing, I always ask for the manager and ask for a discount, usually receive 10-25% off my purchases....we are planting a large garden,we will preserve all that we can, and donate the rest to the elderly in our area....I do believe in these hard times, we ALL must ask ourselves (honestly) are we contributing to the problem, or are we helping....ACTIONS not words speak volumes!!!!!


NEITHER DEMOCRAT NOR REPUBLICAN   March 2nd, 2009 9:33 pm ET

I am 62 years old and thought I would retire this year...

I am thankful I have a job and will continue to work until I die!

THERE IS NO MORE RETIREMENT FOR AMERICANS!!!

That is a thing of the past...


m.s.siddiqui   March 2nd, 2009 9:33 pm ET

Bobby Jindal and many republicans agrees with Limbaugh for Obama to fail due to his policy of huge debt. Unfortunately, Obama administration has the legitimacy to call the shots whether we like it or not. Do republicans care what will happen to the country, if Obama fails. Do they love their philosophy or the country


Doug   March 2nd, 2009 9:33 pm ET

So far I am not doing anything differently than before. Just watching what I buy.


Jonathan Maldonado - Bridgeport Connecticut   March 2nd, 2009 9:33 pm ET

What is our country coming to! Wake up America and do your part! We need to stop complaining and whining about why our government isn’t doing what we wanna see, and instead get up and do something about it. Our country wasn’t build by people sitting back and doing nothing, our country was built by people that wanted something better. So get up and get out, speak your mind and don’t be afraid of saying what you feel. Our nation would not be what it is today if people didn’t speak up.


Fernando Ferrer   March 2nd, 2009 9:34 pm ET

How about letting AIG file chapter 11, which is the way it was done in the past, so they can reorganize. The same would apply for the banks.

Thank you,


Geeta   March 2nd, 2009 9:34 pm ET

I'm a single-parent with a 6 year old daughter. I'm saving money since last September by taking home-made lunch to work instead of buying from the cafeteria and by not eating out more than 1-2 times a month. I've also created a priority list so I can only spend on items that are absolutely necessary (food, shelter, insurance, healthcare). I did not travel to India to visit my family last year who I would normally visit every year in Decmeber time, so I could save the cost of travel (around $5000) for roundtrip for the two of us. Also I've had to let go off my nanny and re-hire another nanny/housekeeper for lesser pay per week. Besides this I'm also spending less on anything that is not absolutely essential for me to be able to put food two times day on the table.


Robert   March 2nd, 2009 9:34 pm ET

we don't need spending programs that will create jobs 5-10 years from now,,, people are losing their jobs now,,, this is just one big spending bill we don't need or can afford


linda grace   March 2nd, 2009 9:34 pm ET

i am on a fixed income, i am cutting back on going to restaurants, entertainment, discretionary spending, no vacations. i am paying cash and not using credit and living within my means. i am hoping not to have overwhelming inflation, but i am trying to plan for that possibility. Since 60% of our investment are gone, i can't relay on there being extra money in the future from my investments. i still owe for taxes, utilities and other necessaries which will probably be climbing. i would like the nation to live within a budget, a $250.00 Social Security check will do to help my situation. i previously was considered middle class but the way things are going in the next few years i could be consider poor.


NEITHER DEMOCRAT NOR REPUBLICAN   March 2nd, 2009 9:34 pm ET

@ Robert

Larry King is much more open to comments than Anderson 360. That program is very strict


Robert   March 2nd, 2009 9:35 pm ET

"change we can believe me"?? what a joke,,, this is a spending bill that will leave all of us with "change"


Jean FIeld   March 2nd, 2009 9:35 pm ET

What does the stimulus package due to CAP subprime rates from mortgage lenders and credit cards; they are eating us up!


Lora Sorth   March 2nd, 2009 9:35 pm ET

We are paying into our savings account BEFORE going out to dinner or buying "extras". Both of us are still employed but very aware that this could change in the current economy. Savings comes first at this point! We are probably more fortunate that lots of Americans:no charge card debt.


Larry Schueneman   March 2nd, 2009 9:35 pm ET

I'm recently retired and losing 30% on my retirement portfolio. I'm putting as much as I can in Money Market funds and reducing my retirement "draw" by 30%. Please invite some of these expensive execs on your show to explain to all of us former "middle class" folks how they intend to use all the billions the taxpayers are giving them. If they won't come on your show, give us their names so we know who the cowards are.
Larry Schueneman
Port Sanilac, MI


bruce haywood   March 2nd, 2009 9:35 pm ET

Problem: no one spending money.
Solution: instead of giving the banks the money and they all blow it give each American 150,000 Dollars and the economy will fix it self, better idea than what we have today

bruce haywood
lampasas texas


Robert   March 2nd, 2009 9:36 pm ET

Limbaugh is right on,,, we don't need Socialism like Obama is forcing down our throats.!!


Lynne from Chicago   March 2nd, 2009 9:36 pm ET

It makes it really hard to save money when you have unemployment income as your only income with a family of 4, and a baby on the way! Just trying to survive and find work! (in construction)


Bill Treasure Lake   March 2nd, 2009 9:36 pm ET

I think there should be a STRAIGHT tax on everything you make .. how simple is that? .... you make this much you pay that much .. good bye IRS 🙂


NEITHER DEMOCRAT NOR REPUBLICAN   March 2nd, 2009 9:36 pm ET

That is Garbage...

FEDERALIZE AIG! THAT WOULD SOLVE THE PROBLEM


Cindy Briggs   March 2nd, 2009 9:36 pm ET

I would like to know why a business would make anything here when they can make it for a fraction in china, even with a tax break. Do we not need to fix our trade policies and make them fair?


Bill   March 2nd, 2009 9:36 pm ET

Watch Jim Cramer Mad Money on CNBC if you want to learn anything.


Julie Loc   March 2nd, 2009 9:36 pm ET

Do both instead of giving ~1Billion to rebuild Gaza.......let Isreal rebuild gaza, they destroyed it. Take that 1B and put it to both.


chris   March 2nd, 2009 9:36 pm ET

Bill,
–> $600 million will buy more and newer cars for government bureaucrats, along with $44 million to refurbish the Department of Agriculture, $50 million for the National Endowment for the Arts, and $150 million to spruce up the Smithsonian buildings.--

You need to become more informed and quit being a such a sheep....baaaaaahhhhh


Henry   March 2nd, 2009 9:37 pm ET

“What are YOU doing to save money during these uncertain economic times?”
What am I doing these days to save the money? Same thing I always did. I never spend more than I can afford. I.e., you will not find me shopping for freebies in a food bank while being a shameless owner of $350,000 condominium, which I knew I could not possibly pay off.


Robert   March 2nd, 2009 9:37 pm ET

More spending in education, health care reform,, etc... how in the world is this stimulating the economy??

please someone explain this too me,,, cause my taxes will go up and inflation will go up,,, in the next year


Nancy Demler   March 2nd, 2009 9:37 pm ET

How can the USA continue spending $10 billion/month in Iraq since the invasion 6 years ago, and NOT suffer financial disasters? We must start thinking of what is in the best interest of the USA, and not be risking our future for any other country.


Dilip Hari   March 2nd, 2009 9:38 pm ET

Larry: Why Obama administration bails out companies like AIG in installments. I know the answer: no one is critically studying the problem and solutions required; They are looking for a daily quick fix.This is making people like us nervous. Obama should get real professionals who know how to work out the bail out plan correct the first time. Larry I am a democrat but cannot keep quiet when I see things are going out of hands.
Dilip Hari


ali   March 2nd, 2009 9:38 pm ET

If I hear one more time that poor President Obama inherited this terrible economy, I will scream bloody murder. Maybe I missed something - did someone put a gun to his back and force him to run for office? As I recall, he stated during his campaign that he was running at such a young age because he is the only one who could fix the economy. Please – no more victim Obama. It's sickening.


Steve   March 2nd, 2009 9:39 pm ET

I hear from unqualified financial experts (armchair advisors) that the government could give each taxpaying american x amount of dollars instead of giving our tax money to failing banks and automakers. It would be a great amount of money per person that could pay off mortgages, save foreclosures, stimulate the economy and secure our financial future. Let the failing businesses fail, they probably will anyway. Can this be addressed publically or is this taboo?


NEITHER DEMOCRAT NOR REPUBLICAN   March 2nd, 2009 9:39 pm ET

LARRY:

WHERE DOES THE MONEY GO??? all the money we used to bail out AIG!!

FEDERALIZE AIG .... FEDERALIZE AIG ...FEDERALIZE AIG .... FEDERALIZE AIG ...FEDERALIZE AIG .... FEDERALIZE AIG

we are printing Monopoly money with NO backing. We will end up in the worst inflation in the history of the USA


Peter   March 2nd, 2009 9:39 pm ET

Ask Ben what the TARP was and isn't it what he's suggesting?


Robert   March 2nd, 2009 9:39 pm ET

Let them all fail,,, keep government out,,,

keep obama's hand out of our pockets,,, printing or borrowing more money is crazy,,,, change will all be in our pockets


Larry   March 2nd, 2009 9:39 pm ET

I'm a small business owner made $250,000 last year, when they raised capital gains and taxes it took all the profit that was in it (5%). To save money I will close the doors and lay 7 employees off and turn my assets into gold to keep up with inflation. I run rolling stock in the
business and capital gains are the key to saving!


Carl Vickers   March 2nd, 2009 9:39 pm ET

Why it that all of these high powered "experts" always align themselves by political party. Why can't they address the technical problems in an acedemic way addressing each problem and exploring potential solutions instead of this incessant bickering.


walter houston   March 2nd, 2009 9:39 pm ET

could the mortgage backed securituis be split up and the individual loans be put on the banks balance sheet at their current principal value


James In Kamiah, Idaho   March 2nd, 2009 9:39 pm ET

Newsflash for Ben Stein... the middle class retirements? They dont' have any left. that money is Gone; George W. Bush already misappropriated it for the Iraq debacle. It is gone.

As far as what I'm doing to save money in these hard economic times... I'm collecting trading card game cards, World of Warcraft in particular, and enjoying the art and the game. They only cost $5 a pack, and you only need 8 packs to have agame, but until you have that 8 packs, the artwork is something neat to look at and a great investment.

Just like baseball cards were traded during the great depression, these new trading card game cards give us all a relatively inexpensive pass time.

I also have the benefit of having a computer and play World of Warcraft online for $15 dollars a month. There's my entertainment budgeting right there.

I highly suggest otehrs find their own World of Warcraft and start finding in expensive ways to bide their time, because this economy is going to take a while to recover, even though the president has one of the best ideas to change all that.

We certainly aren't getting any viable answers from the so called conservatives out there.


Carla Canu   March 2nd, 2009 9:39 pm ET

My husband and I are recently retired from the State of California. We currently do not have any credit card debt and view our 401k cringing. We have lost collectively $15,000 and still counting. Our belief right now is to stay away from debt and anything we charge has to be paid off within 2 months worth of time. Now is not the time for debt. We live day to day looking out for the best buys at the grocery store.
As for Mr. Jindal and his constituents, includuding Mr. Limbaugh, do they have amnesia? Americans sure don't – AIG bail out began with the Bush administration. Why are the Republicans trying to pretend that the Obama administration is at the root of all of this? We the people are not so stupid. Sheep follow eachother but humans know the difference between truth and a snow job. The Republicans need to know that we the people of this country are tired of the same old retoric. That is the reason why Orack Obama is our President. We want CHANGE!!!!


Roselyn Quinn   March 2nd, 2009 9:40 pm ET

Who cares what Rush thinks? That is like asking what a Dis-jockey (that is what a Radio talk Host is) thinks about nuclear weapons. Seriously, my Uncle has a radio station. He is very bright, but he doesn't go around criticizing the policies of the president, just to be on TV. There is too much coverage of celebrities on TV. We want people like Larry King to bring us news, and tough talks with intelligent people.If you have celebrities on, that is fine. Rush is a negative, critical person. He does not have a idea in his head. If you write down everything these Radio people say, you will get stupid little sayings. I am sorry, they are sensational, and ignorant. Fifth graders could come up with smarter remarks. Thank goodness I have a remote. If it's Rush,click! Thanks.


Laurie   March 2nd, 2009 9:40 pm ET

I have lost everything that I have ever worked for. I cannot save one penny because the Democrats are spending it faster than I can make it. Soon, I might be out of work. Oh, well, I guess my family is going to have to go on welfare. I heard welfare recipients are taken care of. They give them housing, food stamps, money for every child they have, pay for their bad habits, etc. Then again, I probably don't qualify, because I have worked hard all my life. Our president should be "bailing" out those of us who do all of the hard work. Mr. King you should be asking Obama the hard questions.


Mark   March 2nd, 2009 9:40 pm ET

Our family has restored our focus to make sure that our budget and our spending only includes the things we really need. We have a good family income and at one time enjoyed some "non-essentials" but now that our investments have returned nothing in 12 years we understand the importance of saving a larger percentage of what we earn.


Barbara   March 2nd, 2009 9:40 pm ET

Chris, those programs you cite 600 million etc. they will save the federal government money in energy. Grow up will you. Are you the republican sheep here tonight?


Twila   March 2nd, 2009 9:40 pm ET

Our family has started gardening our vegetables and herbs. We use more store brands. We shop when meat is on sale and buy for thirty to forty five days and stock it in our freezer. This all saves a lot for our family and gardening is great for the children.


Robert   March 2nd, 2009 9:40 pm ET

NO,,, DON'T THINK FEDERALIZATION of anything will work,,,

it will fail,,, investors will run away like nobodys business


Rich   March 2nd, 2009 9:40 pm ET

Ben......you and the rest of the economic pundits are to blame for following lock-step with the Bush economic policy of "keep shopping at the malls and driving your SUV's" upon waging the war in Iraq!! Mr. Bush failed our country by not telling the American people that sacrafices were going to need to be made as FDR did during WWII!!!.......Shame on you and the others for not calling out the Bush administration!!!


STOOMZEE.com   March 2nd, 2009 9:40 pm ET

President Obama can't fix this problem! –

When a ship has too many holes, patches and problems – it eventually sinks!

The bigger they come, the harder they fall –

We need to forget the old Stock Market and work on something new!


Robert   March 2nd, 2009 9:41 pm ET

UD dollar will fall,,, PRINTING MORE MONEY WILL DECREASE THE

VALUE OF THE DOLLAR,,,,

how can I get my own printing press??


Julie Loc   March 2nd, 2009 9:41 pm ET

2 suggestions, stop mark to market and use the give the 1Bil. to US small businesses.


Bill   March 2nd, 2009 9:41 pm ET

Chris, there are a few people named Bill posting, and we have no idea what you are referring to.


NEITHER DEMOCRAT NOR REPUBLICAN   March 2nd, 2009 9:41 pm ET

Julie Loc ,,,,,,,,,,,, I agree

Larry... the dollar is NOT strong. I fly to China for business and the Chinese in China do NOT want our money!


Dorian   March 2nd, 2009 9:41 pm ET

LIVE WITHIN MY MEANS:
I go to work every day (and am thankful I have a job)
I have a home business (done in my spare time) that helps with household bills.
I share my skills through teaching part time
I put in amall solar system.
I have 1 credit card that I pay off at the end of the month..
I don't dabble on the stock market.
I use the extra cash to pay down the mortgage.
/hard times calls for old fashion fun withiut spending
I continue to help others through charity and charity work...


Dave Felten   March 2nd, 2009 9:41 pm ET

DEAR LARRY,

I WAS A "FRAUD EXAMINER" FOR OVER 30 YEARS.

THE "BILL" IS A JOKE!

THE FIRST STEP THE GOVERNMENT SHOULD IMPLEMENT IS TO PERFORM A THOROUGH AUDIT OF EVERY WELFARE AND PAYMENT PROGRAM WE HAVE.

I PERSONALLY GUARANTEE THAT THEY SHALL DISCOVER OVER HUNDREDS OF BILLIONS OF DOLLARS BEING STOLEN BY "CROOKS!"

GOD BLESS


Mariya from NYC   March 2nd, 2009 9:41 pm ET

Not doing anything to save money. Both my husband and I have our jobs, so we figured, might as well have fun while we can. If we were to loose the jobs, we would have had to save for 3 years prior in order to cover the rent and basic living expenses for a couple of months of total unemployment. Hardly seems worth it.


Jo Ann, Ohio   March 2nd, 2009 9:41 pm ET

What's going on with Geithner? When Obama gave his press conference he acted like the bank situation was all worked out and Geithner was supposed to provide the details the following day. Why didn't the media question him about that and ask where those details are?

I am afraid that Geithner doesn't have any idea what to do with the banks.


Robert   March 2nd, 2009 9:42 pm ET

Oh lord,,,, why did you save brain matter when it came to making liberals??


John Voudas   March 2nd, 2009 9:42 pm ET

Larry given the fact that USA does not have all these money they want to spent and they have to borrow from China Russia and Japan....what happens if these countries refuse to lend us the $ because their own economies are tanking? Then what happens?


job pub   March 2nd, 2009 9:42 pm ET

USA went into a sovereign nation. Removed their leader and hung him. Killed his children. Took his money! Killed a few of his friends.
*************
Why can't it be done with CEOs, executives and their families?
*************
for employees to be paid more than $18 billion in bonuses last year while their crumbling financial sector received a bailout from taxpayers.
TARP money was not used to give Executives $1,600,000,000.00 bonuses. Because the USA people are fools idiots and jerks! No TARP money was used for bonuses! We found the money elsewhere!
John Thain, the former Merrill Lynch & Co. chief executive officer ousted yesterday, spent $1.2 million redecorating his downtown Manhattan office last year as the company was firing employees, a person familiar with the project said.
Pay people 20 mill a movie to play make believe.
While membership in the union has plummeted, the UAW retains assets worth $1.2 billion. Curious about how the UAW will be spending my money and yours, I sifted through the union's most recent annual report filed with the US Department of Labor (which you can find at unionreports.gov). Who knew hitting the links was so central to the business of making cars? All lost pensions due to corrupt companies? How do you people feel who lost everything in Enron? Your taxes didn't bail out E! How about people who worked and held stock in Global Crossing? 'In what is an unprecedented case of political profiteering, Terry McAuliffe turned a $100,000 initial investment in the company into $18 million in less than a year and a half.
You make money. The government takes(taxes) some(lots) of that money from you. The government gives that money to their friends(Banks) for a minimal profit. You want to buy something. You don't have the money. You go to the bank and borrow money at a high interest rate. Whose money was it first?
‘Dec 22, 2008 ... Merrill Lynch’s Peter Kraus Collects $25 Million, Then Resigns.
Merrill Lynch & Co. Chief Executive Officer John Thain and two former Goldman Sachs Group Inc. colleagues he recruited may reap almost $200 million for their year running Merrill if they leave or are given lesser roles after Bank of America Corp. buys the brokerage.’
************************************************************************
Give your tax money away why? Maybe the politicans and their families receive the usual 20-30% kick back. That money is gone in one week.
Invert the pyramid and put the weight of the little guys on top of the high priced do nothing executives!
Do not pay outstanding credit cards! Bailout to follow!
Do not pay on credit default swaps! They are not regulated and therefore should not be enforce!
While the former USA is changing laws and policies as it grows, to nowhere? Revoke all trusts or reduce to max $3,000,000.00 per trust, Declare banks insolvent. Payout the max $250,000.00 FDIC! Get the money circulating! ? If Buffet, Gates and other billionaires were to die the inheritors’ tax kicks in at 3 million and the rest of the money goes to the people(new government) of the former USA.

Open letter to the military.
Dear Persons,
I am a person who has worked hard and mostly played by the rules. I implore you; the country you first fought for no longer exists. From this day on you are fighting for King George and his Nobles. If you should die, fighting who you think is the enemy, you are no longer fighting for the people of the former United States of America! I consider you a fool!


natily   March 2nd, 2009 9:42 pm ET

Instead of the $500 designer caviar, I choose the $100 caviar...times are tough in hollywood.


Bill Treasure Lake   March 2nd, 2009 9:42 pm ET

another thing I think we could do to save the country big bucks is build dormitories for all the elected officials in D.C. and cut their pay in half.

When elected to office they are there to work and not sit on their behinds. If they had to live there ( in the dorms) they would not be crying about pay raises to offset the cost of living in the Washington area. They would be there to work for the people. How refreshing would that be? Pres. Obama ... I hope you read this.


M.J.   March 2nd, 2009 9:42 pm ET

Ben is on target about the frantic position of retirees. How in the world are we going to recoup our 401K savings? At 60 and 61, my husband and I were just at the point of preparing to retire at 62. Now our hard earned savings in 401K are decimated, we've both been laid off from our jobs during the last two years we planned to work. I've said it before and I'll say it again: it is NOT just about the people who "do the right things financially." We absolutely live conservatively and within our means and have saved an emergency fund, but when both lose their jobs just prior to retirement and 401K's are in the toilet, you can still hear the wolf is knocking on the door!


Francois Glasman   March 2nd, 2009 9:42 pm ET

Dear Larry,
I am a regular follower of your show and YOU Larry.
My question is : Why did you allowed Bobby Jindal "bully" you?
On your own show!!!
Please have him back on your show, and ask him to answer your question: "Does he want Obama to fail"???
This man is dangerous!
Thank you
Francois Glasman


Christine   March 2nd, 2009 9:42 pm ET

What am I doing to save money today! Nothing... No job... no buying and certainley no saving.


colleen from canada   March 2nd, 2009 9:42 pm ET

nice to have ed on tonight..at least he has something positive to say about the stimulus package....too many negative people just spurs negative thoughts...time to get some positive thoughts and maybe you will get more positive results.


NEITHER DEMOCRAT NOR REPUBLICAN   March 2nd, 2009 9:42 pm ET

LARRY!!!

I think the problem is resulting because of the 1% wealthiest people in this country are scared and are taking every dollar they can get their hands on...


Doc Bev   March 2nd, 2009 9:42 pm ET

Asked the same question two days ago. Agree with Stein "mark to market" does not work. CDO's and CDS's just made millionaires out of short sellers who were leveraged 30-50:1). Obama needs to do what FDR did not have the nerve to do which is halt the market whenever the DOW drops below 150 points. Those are short sellers, which can only be hedge funds.


Barbara   March 2nd, 2009 9:43 pm ET

Larry, I know the question of the day is "what am I doing to save during these uncertain times, but I really would like to comment on what you are discussing right now!

The Republicans act as if President Obama put the country in the state in which it is in, he's been in office less than 2 months. I don't think they will ever like any plan that he has or will have in the future because they are not focusing on the situation; they can't get over the fact that he "is" the President. It's a shame that people in our country are losing their their jobs and homes and others are so selfish that they don't even care.


David Baker   March 2nd, 2009 9:43 pm ET

I currently have AIG car insurance and have noticed they have changed their name to 21ST Century Insurance? If they are "running" from their identity, should I be concerned and change companies?


fred   March 2nd, 2009 9:43 pm ET

that guy living off food stamps is eating the way we have eaten for years. try feeding 3 people on that amount for a month. since the banks got MY tarp money, they can keep it and stamp my mortgage paid in full. and for a bonus i want a new roof.

the loan servicers are fast-tracking foreclosure and ignoring the call for moratorium requested by the president. schumer reporting such nonsense that they are helping homeowners is a lie. spin, spin


Fernando Ferrer   March 2nd, 2009 9:43 pm ET

Margaret,
the economy was not in dire straits during the Bush administration,except the main stream media was constantly telling us so.

The stock market soared to over 13k during the Bush administration, unemployment was at 5.5 to 5.1 the majority of the eight years, that was not a sign of a bad economy.

The reason the banks failed, were policies in place by the Clinton administration, that forced banks to lend to those that did not qualify.
When President Bush raised concern, Bernie Franks indicated Fannie Mae and Ffreddie Mae were doing well. So, who's fault is that.
Please get your facts correct.


James In Kamiah, Idaho   March 2nd, 2009 9:43 pm ET

Jindal has a lot of nerve, by the way, coming out and criticizing his party AFTER THE FACT. Where was his leadership when it could have made a difference or at least had an impact?


Robert   March 2nd, 2009 9:43 pm ET

I don't think Geithner or Obama have any clue what they're doing,,,

a tax cheat, now the treasury secretary,,,


Sarah   March 2nd, 2009 9:43 pm ET

How can someone who lives in Fargo, ND, be the end all know all on the ecomony? North Dakota is the only state currently not effected? They have a 1.2 Billion dollar surplus. How can Ed who has lives in ND make statements for the whole country. Does Ed have a small business? How does being a sports caster make you an econimist?


Michael Cohen   March 2nd, 2009 9:43 pm ET

My wife and I are doing several things to save money during these difficult and challenging economic times:

1. I am taking my lunch to work rather than eating out.
2. We have refinanced our home to a lower interest rate.
3. We have negotiated lower monthly rates for services such as our alarm system and satellite service with the various providers.
4. We utilize gift card promotions from pharmacies for our prescription medications.
5. We are following a strict budget.
6. We plan and route our errands to the least mileage and to reduce fuel consumption.

These are the major changes we have made to economize.


patrick casey   March 2nd, 2009 9:43 pm ET

i have the solution to the aig problem make aig sell its asstest to the competion for 20 cents on the dollar and tell them no more taqx payer money they dont know how to use it anyway


Mary McArthur   March 2nd, 2009 9:43 pm ET

Why didn't Rush Limbaugh and Bobby Jindal start squakeing about this eight years ago. Bush was the one that started all this, war and all. How about the Billions that was spent in Iraq. I don't hear them fussing over that. They need to sit down and quiet acting like clowns.


Paul Mendelsohn   March 2nd, 2009 9:43 pm ET

Ben is right. Unless we suspend FASB 157 mark to market rules immediately and put back in place the uptick rule, there is little hope of avoiding a major depression. There is not enought money amoung all the cental backs to backstop the banking system when the market is pricing bank assets at 20 cents on the dollar, when they have an intrensic value of 70 cents on the dollar. This rule is our smoott hawley tariff act of the 21st century. Putting back in place the uptick rule will push the short speculators who are driving the banking stocks to zero out of the market.


Ray   March 2nd, 2009 9:43 pm ET

Why do you keep showing the republican party. They are negative about our economy, negative about Obama, negative on everything that is good for this counrty. If the republican party was just a little supportive , maybe things would start to turn positive.

Ray


Melody Towell   March 2nd, 2009 9:43 pm ET

Larry
Has anyone in government read "The Coming Economic Earthquake" that was written in 1991 by Larry Burkett (who is now deceased)?
He predicted this mess back then. If you read the book it appears to me that it is happening just like he predicted. This was before George W. Bush took office if I do my math right. I do not pretend to be a genius but according to Mr. Burkett it appears to me that what Obama is suggesting and doing are exactly what Mr. Burkett said would not work.
A democracy is not a form of government to survive. For it will only succeed until its citizens discover they can vote themselves money from the treasury, then they will bankrupt it.

Grover Cleveland best stated the prevailint policy. "It is the responsiblity of the citizens to support their government. It is not the responsiblity of the government to support its citizens.


Robert   March 2nd, 2009 9:44 pm ET

i'm moving to a state without state income taxes..... that's what i'm doing,,

make less money,,, hide more of the money so Obama can't get to it


job pub   March 2nd, 2009 9:45 pm ET

OBAMA uses the Castro, Chavez model
‘Report: Biden's Son, Brother Marketed Hedge Fund Through Stanford Company
Vice President Joe Biden's brother and son ran a fund of hedge funds marketed by companies controlled by disgraced Texas billionaire R. Allen Stanford, according to a report published in the Wall Street Journal.’

Here is the laugh.
Citi has your mortgage.you are behind on your payments but still paying taxes. Now your tax money go to citi and your house is gone. How foolish do you feel?
GM and chrysler receive billion of you tax payers' money. You can't afford a vacation. They have billions for people who don't work!
'GM's plan is estimated to be $20 billion, or about 20 percent underfunded, while Chrysler's plan is 34 percent underfunded, leading to a $9 billion-plus shortfall, the agency said. Ford's funded ratio is not publicly available, but the company's pension plans are likely running at a $12 billion deficit, it said.'
Gee why bailout AIG?
'Hedge funds are typically open only to a limited range of professional or wealthy investors.' Friends of………….?
'Hedge funds are typically open only to a limited range of professional or wealthy investors. This provides them with an exemption in many jurisdictions from regulations governing short selling, derivative contracts, leverage, fee structures and the liquidity of interests in the fund. A hedge fund will nevertheless commit itself to a particular investment strategy, and therefore often particular investment types and leverage levels, via statements in its offering documentation, thereby giving investors some certainty regarding the nature of the fund.'

Do not pay on credit default swaps! They are not regulated and therefore should not be enforce!
While the former USA is changing laws and policies as it grows, Nowhere? Revoke all trusts or reduce to max $3,000,000.00 per trust, Declare banks insolvent. Payout the max $250,000.00 FDIC! Get the money circulating! ? If Buffet, Gates and other billionaires were to die the inheritors’ tax kicks in at 3 million and the rest of the money goes to the people(new government) of the former USA.
the government's version of a 401(k) - they are also offered a defined-benefit pension plan backed by the U.S. Treasury and largely insulated from Wall Street fluctuations.
Lawmakers' retirement benefits start earlier and accrue faster than in plans offered to other federal workers, or by the average private company. Lawmakers also get cost-of-living increases, increasingly rare in the private sector.


Tammy   March 2nd, 2009 9:45 pm ET

When the market started to fall last September, we listened to the experts, we continued in the 401K. The company stopped contributing to save money in January. We stopped paying into our 401K today and will save $400.00/month.


Bill   March 2nd, 2009 9:45 pm ET

I own several insurance company annuities in my IRA accounts. Should I be concerned and consider getting out now, with penalty?


James In Kamiah, Idaho   March 2nd, 2009 9:45 pm ET

He doesnt' want your money you neoconpoop, he wants you to start taking responsibility for your own actions, and stop stealing from the little guy to fund your misbegotten wars.


Sunny H   March 2nd, 2009 9:45 pm ET

Eight years of terrible GOP leadership put us where we are today – Don't forget that. As a moderate Republican, I feel downright abandoned by my party and its current leadership, and dismayed by the direction is has taken these past so many years.

Neither Jindal or that ridiculous radio host Limbaugh represents me, nor anyone I know. Limbaugh has made his millions pandering to the lowest common denominator, which sadly has turned out to be the evangelical, science-less, backward thinking GOP base.

I know I am not the only Republican who is looking hopefully at our new President; because, God knows, repeating the same failed GOP strategy as Jindal and the Republicans on Capitol Hill are advocating will not pull us out of the abyss that Bush and his sidekicks in oil and on Wall Street pushed us into. As a matter of fact, the GOPs deliberately obstructive ways look very unpatriotic to me at this dangerous time in our history.


Robert   March 2nd, 2009 9:46 pm ET

DITTO Fernando,,, finaly someone with a clue,,

Chris Dobb,, and his girlfriend Barney Frank should be put in jail


Jimmy   March 2nd, 2009 9:46 pm ET

I'm not buying stuff that I don't really need. Although I need my games and movies! =)


Chris   March 2nd, 2009 9:46 pm ET

Mr.Stein,

please explain mortgage-backed securities. SOMEONE please tell everyone that it is the reason we are in this mess!!

people were making money off others defaulting on their mortgages!!!
why is Oil and Natural gas traded?....by the time you buy a gallon of gas, it has been traded and re-traded over and the price INFLATED?!!

C'mon....lets hear some truth!....please


job pub   March 2nd, 2009 9:46 pm ET

Do not pay on credit default swaps! They are not regulated and therefore should not be enforce!
While the former USA is changing laws and policies as it grows, Nowhere? Revoke all trusts or reduce to max $3,000,000.00 per trust, Declare banks insolvent. Payout the max $250,000.00 FDIC! Get the money circulating! ? If Buffet, Gates and other billionaires were to die the inheritors’ tax kicks in at 3 million and the rest of the money goes to the people(new government) of the former USA.


Kiran   March 2nd, 2009 9:46 pm ET

Downgraded cable, stopped buying iPhone and cut back on travel..


Trev   March 2nd, 2009 9:46 pm ET

******** Most Americans view Rush Limbaugh in the same light as they view Jeremiah Wright "Old wind Bags" **********


mike mikolic   March 2nd, 2009 9:47 pm ET

Why would anybody spit on a fire expecting to put it out? What ever happened to paying for mistakes? A simple answer will come if you simplify the problem.


Nicholas   March 2nd, 2009 9:47 pm ET

I am cutting back in groceries, utilities, electric, gas, activities; however, it is nice the government is bailing out all the companies, the question I want to ask is: where is the common people's bailout? Perhaps bailing out the everyday people could save a lot more money.


Rich   March 2nd, 2009 9:47 pm ET

Rick Santelli and the other "traders" make me absolutely SICK!!........I've watched my retirement savings be destroyed by traders "shorting" stocks held by my retirement mutual fund and driving them into the ground while they make a bundle!!! Time for Rick Santellin and the rest of the traders to "go long"!!!


Travis   March 2nd, 2009 9:47 pm ET

Hi Larry,

I know Obama is cutting taxes for us middle class, but I heard it is suppose to be 8 dollars on every pay check. How is 8 dollars a week going to help me pay my mortgage?

Thanks,


bart nelson   March 2nd, 2009 9:47 pm ET

Whydidnt the goverment take the first bailout give each taxpayer 30,000 and the ones who dont pay taxes are get that earned income credit give them like 8,000 each and the people would have went out and bought cars oaid bad debt etc wouldnt we have got more bang for our buck plus its our money why not help us with our money .


Tim   March 2nd, 2009 9:47 pm ET

It may be counter-intuitive, but I'm tithing 10% of my gross income and sending that money to sub-Saharan Africa. It's strengthened my faith and hope and has kept me afloat financially.


Candace   March 2nd, 2009 9:47 pm ET

I really don't understand why it surprises anyone that America is running a budget deficit. America is not an island unto itself, the world's economies balance themselves just as anything else. If other major countries are running a surplus (with a country like China bumbarding the market) it is sure to affect the deficit of America. America has been carrying the burden so long it's hole is just deeper.

So why is everyone so shocked?! Have these commentors never taken an economics class?


Dee   March 2nd, 2009 9:47 pm ET

Hi Larry: We have quit spending money except for necessities. There is a real fear out here, that the government is not going to be effective by spending mass amounts of money, also the redistribution of wealth factor weighs heavily. There was a bailout earlier before Pres. Bush left office, and it seems the Banks that were bailed out are still hanging onto the money and not lending it. Many people voted for Obama, so we're not trying to critisize him by saying we're scared. This crisis is due to mistrust of government, Banks, Wallstreet, and The Community Reinvestment Act, imosed by Acorn Chris Dodd, Barney Franks, to deliberately make Banks accept risky mortgage loans, enhanced by Fannie, Freddie, AIG, Merrill Lynch, JP Morgan, and other investment companies. Its alot of factors combined. We are definitely in Financial Armegeddon!


Robert Kearney   March 2nd, 2009 9:47 pm ET

I with agree Ed on this where were every single so called dollar watcher republican when it came to EX-President Bush;s deploriable govererment which ran our Country in the bottomless pit we all find ourselves in The Peoples President and I am proud to say my President Obama who has done in six weeks what bush could not do in eight years what a joke the republicans are in the worst way.


Herb Durrf   March 2nd, 2009 9:48 pm ET

Cut my kids in college off, they're going to have to pay their own way because I can't afford it. I also am going to have to shut down my small business because the poor economy has completely killed our profits.

I'm applying for a job at McDonald's tomorrow so I at least have some form of income.


T   March 2nd, 2009 9:48 pm ET

Looking at Ben Stein on Larry King show, he acts as if the other commentators don't know what they are talking about. I really didn't appreciate that, specially the rolling eyes part.


Mark   March 2nd, 2009 9:48 pm ET

Enjoyed the repartee between Ed, Ali & Ben – HOWEVER, Ben Stein may be a famous face, but he is not a very strong advocate for free markets – I think he's overmatched by the others. I recommend you replace him with Lew Rockwell from lewrockwell.com – Lew is far sharper on economics than Ben and you will get real fireworks between him and Ed.


Randy   March 2nd, 2009 9:48 pm ET

I am going to do my part by asking the questions that for some reason never air. How many of the CEO's and what is the percentage of board members of these companies that are failing, yet are receiving bailout money. How many are Republicans? Also AIG said earlier today on a CNN broadcast that they were to allocate a portion of their assets to the FEDERAL RESERVE not the US treasury to relieve some of their debt. And since the Federal Reserve is a PRIVATE bank owned by individuals who are American citizens, Why can't they forgive/relieve some of this strain on the American economy? Must they get their money while we suffer? I would like to hear them give the finger to the American worker on air.


Dodie from CA   March 2nd, 2009 9:48 pm ET

I purchased a home in China and I plan to retire there. I am now learning the language...


Jo Ann, Ohio   March 2nd, 2009 9:48 pm ET

The hell with hope, it is time to see some action!


bill   March 2nd, 2009 9:48 pm ET

Larry your kidding save money pay property tax pay school tax pay credit cards keep our 1987 vehicle going take care of the kids pay mortgage maybe we should go to a flat tax and everybody chips in. when the auto manufactures make all these vehicles who's going to by them? GIVE US THE NEW CARS NOW .NOT LIKE WE WERE TOLD 30 YEARS AGO THAT THERE COMING AND THE FUEL COST HIT THE ROOF.


CHUCK   March 2nd, 2009 9:49 pm ET

HEY LARRY, WHERE DID U FIND THAT GUY, DAVID THAT DOES UR BLOGGIN????? HE'S GOOD AT WHAT HE DOES.....VERY INTERESTING.....

KEEP UP THE GOOD WORK


James In Kamiah, Idaho   March 2nd, 2009 9:49 pm ET

You wanna talk jail?! Here's a list of rapists you need to deal with first... Bush, Cheney, Limbaugh, McShame, Palin, Yourself, Rice, Powell, Patreus, etc.

Condelizza Rice once said that Iraq was just going through the birth pangs of a new democracy...

Well, they never consented; so, that makes them a rape victim, and you a cheering bystander of that rape.
Criminal.


joe   March 2nd, 2009 9:49 pm ET

d


bart nelson   March 2nd, 2009 9:49 pm ET

Im not so stimulated


Mike Neil   March 2nd, 2009 9:49 pm ET

I'm cutting out SNICKERS Bars!


Dodie from CA   March 2nd, 2009 9:49 pm ET

Yea, I purchased a home... IN ANOTHER COUNTRY!!!


Homa   March 2nd, 2009 9:49 pm ET

to save money, I rented out my house and am renting an apartment to save $800 a month, but now it is considered as an "investment property" and I cannot get a low rate to refinance or apply for loan modification since I don't have a job since July 08. My mortgage payment went up by $119 due to the tax rate increase on the property. You tell me what to do.


stella   March 2nd, 2009 9:50 pm ET

this is not a shock to me. i have been in a recession for years. eating peas, rice, and buying second-hand clothes.

all the talk about the rich and middle class is okay. i once was middle class until husband got sick. what about the working poor? do you realize there are many people who work and do not have savings, retirement, welfare, etc., and getting pushed out of their homes?

can someone help me save my home from foreclosure?

Lord help us


chris   March 2nd, 2009 9:50 pm ET

As a small business owner, I am saving money by not hiring anymore employees. I know my taxes are about to go out of the roof so I better cut costs (jobs) and perhaps start a "cash only" model at the business.


Gary   March 2nd, 2009 9:50 pm ET

I am staying in cash and investing in gold stocks, the only sector of the market that has rallied substantially sine Nov. 08.

All the bubble bursts since 1820 have had gov't rescue $$ injected.
None have worked.

These cos. must be allowed to go broke. The remanents will be bought by intermediate sized banks (or groups of them). New management and new ideas will be the ultimate turning factor of tour economy.

Throwing $$ at the auto cos. will simply bring more of the same.

Lets them go broke, they will be bought and new mangers will turn them around, not US gov't $.


Robert   March 2nd, 2009 9:50 pm ET

GREAT,,, punishing people who pay their mortgage on time,,

and bailing out people who couldn't qualify for a loan,,

let them lose their homes,,,,


Brian   March 2nd, 2009 9:51 pm ET

I'm not doing anything differently, other than giving a litle more to charity. I live within my means.

PS- Jindal's Republican response was a joke. Just like Sara Palin. He spoke to the American people like schoolchlidren.


Dodie from CA   March 2nd, 2009 9:51 pm ET

@ James In Kamiah, Idaho

I agree with you...

I voted against Bush in 2004... why didn't everyone else???


Mohamed Eltayeb   March 2nd, 2009 9:51 pm ET

FYI the U.S. Dollar exchange rate increased by 50% from 200 sudanese pounds to 290 due to potential indictment of the Sudanese president bythe International Criminal Court due to be announced on 3/4/2009.

If U.S. relaxes laws to allow foreigners to buy houses in U.S. we can get a lot of demand from abroad. Houses in Washington, DC are .cheaper than their comaprables in Sudanese capital. They don't have installments there


Brian Piazza   March 2nd, 2009 9:51 pm ET

We have no choice but to do this...BUT...what is a nagging, sickening question in the back of most of our minds is "where did the $150 billion go and so fast".

Our treasury has been robbed. The American taxpayer has been robbed. Every dollar we give them disappears as fast as we give it to them. They misappropriate what we give them and "spend" it on things I am sure you and I would not even believe.

Merry Christmas AIG. I gave you everything I had in my savings. I gave you all of my tax dollars. I guess I will start selling my assets and give those too.


STOOMZEE.com   March 2nd, 2009 9:51 pm ET

“Speak softly and carry a big stick."

KTM
Northport, NY


dustin   March 2nd, 2009 9:51 pm ET

i eat peanut butter & jelly five days a week for my lunch at work


Jason NY   March 2nd, 2009 9:51 pm ET

I am calling all my service providers telling them to give me a better package deal or i will disconnect my service which acctually works and im not eating out but cooking food to last at least two days and taking it to work for lunch also.


natily   March 2nd, 2009 9:51 pm ET

I am new to this thing called blogging. So my comment didnt post.But times are tough in hollywood ..instead of the $500 caviar we here are accustomed to we are buying the more affordable caviar for our hollywood parties for $100..the hollywood entertainers are not happy ...tough times for all.


Harold Holmberg   March 2nd, 2009 9:51 pm ET

ABOUT THE ECONOMY AND TALK ABOUT BANKS, IT IS RIDICULOUS TO THINK THAT ALL BANKS ARE BAD AND CAUSED THIS PROBLEM. NOTHING IS FARTHER FROM THE TRUTH. YES SOME BANKS ARE GUILTY HOWEVER MOST COMMUNITY BANKS ARE NOT TO BLAME. WE NEED TO QUIT PAINTING ALL BANKS THE SAME AND IF WE DON'T CHANGE THE ECONOMY AND CONFIDENCE WILL NOT RETURN.

HAROLD HOLMBERG


Carol from Monterey, CA   March 2nd, 2009 9:51 pm ET

Waiting on a response from my congressmen: How can my husband and I tap into all this bail out money? We are both independent contractors, and out of work. We are unable to receive unemployment insurance and we are not eligible for food stamps. What would you suggest for all the people, like us, who are suddenly without work, without savings and no where to turn?


michael   March 2nd, 2009 9:51 pm ET

Since obama got elected, the economy has gone down hill. He is throwing away our money to corporate america for his own benefit down the line. Give the money back to the people and they will spend the money. To be honest all this started because idiots signed mortgage rates that are flexiable and they can;t afford it. They have their hands out saying help me. But i do everythig right and now i have to pay for it and may lose my job down the line because of idiots!!!


Barbara   March 2nd, 2009 9:51 pm ET

Can I ask what did former president Bush's 300 Tax rebate do for anyone? It wasn't even enough to pay a mortgage payment.


erin   March 2nd, 2009 9:51 pm ET

i'm 20 years old and in my sophomore year of college... all this talk of recession and what not makes me so nervous about my future. it's made me think a lot about what i do with my money. my question to you is what do you suggest would be the amount of money i put away monthly to start a "nest egg" for when i'm out of college? and if i invest it somewhere will it just go missing years down the road like it has to so many?..


bart nelson   March 2nd, 2009 9:52 pm ET

I say let AIG fail dont waist are hard earned tax dollars on that dead horse.


nancypaull   March 2nd, 2009 9:52 pm ET

I am not saving. I am spending- spending by going out to lunch, taking a trip, buying american whenevr possible.


suzanne collier   March 2nd, 2009 9:52 pm ET

I have stopped going out to eat
I have stopped shopping
I am considering dropping my $800.00 a month health insurance for my husband and I. This does not include my daughters insurance of $400.00 a month who is a type 1 diabetic.

I am considering giving up my small business I have had for 18 years to go to work for someone who has health insurance benefits.

I am also thinking about selling my family home of 20 years and paying cash for a smaller home just to keep my health insurance.

the next step would be to take a second job.
the next step to move in with my mother.


Sugath   March 2nd, 2009 9:52 pm ET

Unless the Gov/Corps bring back job stability people will not go shopping. I planned to buy a new car but later decided not to. The only thing that made me take this decision is job security.


Shane   March 2nd, 2009 9:52 pm ET

Alli (sp) just said we don't have the money for the 30B additional going to AIG, that's not true, per say. Isn't this 30B coming out of the second half of the TARP money left by Bush & co. for Pres. Obama?


RS   March 2nd, 2009 9:52 pm ET

I agree with Ben Stein. We have to differentiate the credit default swaps and other unregulated underwriting that AIG did from life and property insurance. We cannot treat this a one big elephant with huge appetite for tax-payer money. This one really has to be eaten one spoon at a time. The government has to get into the details and nullify the speculative contracts.


Wendel from Ohio   March 2nd, 2009 9:52 pm ET

The only way out is another civil war. This time it will be race against race. People will look for scapegoats for their problems.


rebecca   March 2nd, 2009 9:52 pm ET

I am 55. I have a great job in the pharma industry but have have lost well over 50% of my 410 K. I am not spending a penny of what I do not have to spend. I have stopped contributing to my 401 K as well and am saving all of those funds in the event that I do lose my job. I am frightened because I am so near retirement. I do not have nay debt other than my home, but I am still taking the cautious road. Should I take out what I have left in my 401 K and go to cash? I think it is too late.


AIG Fraud   March 2nd, 2009 9:53 pm ET

What you should be checking into is the reinsurance companies that AIG is funding in Bermuda. Money is dissappearing through these reinsurance in Bermuda. This is just rediculous. They proved they would steal our tax dollars with the first round of money with their little trip to the California spa's and now the money is being invested in a few small reinsuance companies in Bermuda. You should find out who owns these compnies you migt be very surprised. STOP STOP the fraud and theft NOW...


dustin   March 2nd, 2009 9:53 pm ET

i downsized from a F-150 to a Saturn 4-cyl.


Thea   March 2nd, 2009 9:53 pm ET

To save money I am cutting out 'luxuries'. For example: removing caller id and call waiting from my phone plan. I also use coupons, and look for stores that double coupon values.


Robert   March 2nd, 2009 9:53 pm ET

Obama never ran a business and now he's going to save an economy,,,

he needs to actually run something before he spews all the hot air


Jackson Brock   March 2nd, 2009 9:53 pm ET

I'm still paying my trainer at the gym. I'm still paying my staff at the spa. This is what keeps the local economy going. Am I rich? Not gold plated, but trust me, I've never been in better health. The more you do for yourself keeps you out of hospitals. By the way, I'll be 57 in three weeks. And I'm a caregiver to my 88 year old mother and my 64 year old sister. My dance card is full of Doctor appointments. Peace, JB


Sal   March 2nd, 2009 9:53 pm ET

Money is needed to stimulate the economy, however ,what is really needed is honesty and transparency in business. If business doesn't get honest we will never recover from this economic mess. Greed, unfair business practices are very much at the heart of why we are in the mess that we are. I don't hear any talk about overhauling business ethics.


Narendar   March 2nd, 2009 9:53 pm ET

Simple, pay for rent food and gas-nothing else....no unnecessary spending!! But it is like holding my breath!! Cant do it for long!! I am a democrat and i think that our president needs to do something for the Markets too!! Please........


Rob123   March 2nd, 2009 9:53 pm ET

Hi Larry I wish the republicans would stop blaming the new administration for this economic problem. They seem to forget that they are responsible for this mess. Look at the last four years when they drove up the debt without any regard to the taxpayers


Chris McClish   March 2nd, 2009 9:53 pm ET

As a family over the $250K mark, we are pulling all our plans to invest in the market, buy new cars or real estate, or invest in the economy in any way. We feel we are being told that we will pay for everyone else in this New Deal Part II, so we are simply going to sit on our money and wait for a new administration. Sad but true. No more deductions for charitable contributions or mortgage interest just because of our hard work and prior sacrifices? Really? If we are viewed as a simple asset to be tapped by this Obamanation, with no appreciation for our hard work to date, than we will just pay our dues and wait on the sidelines. The Dow indicates that others like us feel the same. Good luck.


James In Kamiah, Idaho   March 2nd, 2009 9:53 pm ET

Nope, rewarding people who pay their mortgage on time,,

and bailing out people who qualified for a loan according to the lying, cheating, stealing, manipulating republican loan officer who goaded them in the first place,,

we won't allow you to let them lose their homes,,,,


Rich   March 2nd, 2009 9:54 pm ET

The market's are NOT going to heal itself!! We saw what happened when the Republican adminstration removed "regulations" that got us into this mess!!..........Time for Treasury Secretary Tim Guethner to come down HARD with his "stress test" for banks and Investment firms!


SeanBlader   March 2nd, 2009 9:54 pm ET

Are you crazy? Saving money? That's why we're in this crisis. If you have a job GO SPEND SOME MONEY! I can't do this myself. I've bought all the little stuff I can afford, new monitor for my workstation PC, new TV, media center PC for the TV, going out to dinner like twice a week to help my favorite local restaurants, I'm even working in my free time on some software to hopefully help people be more efficient with their day.
Maybe I can get some help here!


Ken   March 2nd, 2009 9:54 pm ET

Simply keep doing financially responsible things like not spending money you do not have.
Fear has brought this about because of the negativity during this 2 year presidential campaign telling us how bad things are because the wrong party is in office coupled by gas prices and politics.
No one trusts these politicians including a President who is the most negative I remember in 50 years.
Business owners and taxpayers are simply sick of this whole mess and lack of any resemblence of leadership.
AIG is simply a Insurance carrier and there plenty of companies ready and willing to pick up these policy holders.


Dede Sopp, Pittsburgh Pa   March 2nd, 2009 9:54 pm ET

I order save money, I no longer go out. rather than having a good time in the bar, I have mine in the GYM. Trying to stay as healthy as possible, exercise a lot, eat well and study hard. Also, I did not have a girl friend but think I need one. Dating a different girl every weekend is not the best way to save money. Presently we have to look at this crisis at individual level, my crisis not the country crisis. Try to solve our problem. Also, I no longer used credit card. I am a pay as you go guy now.


Bill Treasure Lake   March 2nd, 2009 9:54 pm ET

I don't hear anyone bailing out the retired people..... I have paid taxes for many many years.. and I never hear anyone talking about oh those poor people that have retired. Everything keeps going up for us and no one seems to care about it .. most of us have our houses paid for. Imagine that .. lol ... the Pres wants us to ask what we can do to help the country .. where were the elected officials in Washington.. oh wait .. they were too busy trying to find out what the US TREASURY and special interest groups could do to fatten up their check books .. I am so tired of the Gov. asking me Hey, what's in YOUR WALLET? most of us don't even HAVE A Wallet any more they had to sell it to buy bread!


Robert   March 2nd, 2009 9:55 pm ET

Rebecca,,, changed my contribution from my 403B to money market

a month ago,, and i'm sooooo glad,,, its only gonna get worse and

hopefully when the dow levels off for a few weeks/months,, will reinvest


Sherry, N. Calif.   March 2nd, 2009 9:55 pm ET

Money? What money? It is gone before I get it!


Jim D.   March 2nd, 2009 9:55 pm ET

Happy to still be employed, I am paying down debt, cutting back on things like dining out. We also are cutting the little things – like HBO service. I simply can not understand why Obama is doing this to us. Raising taxes in the midst of the worst recession in 27 years? The Democrats are going to pay for this in 2010 – they will lose enough seats in the House that it may be a virtual tie. The GOP may even take back the Senate.. Once Americans realize what they voted for and find out they have nothing left in their 401K's, IRA's and basic savings accounts they are going to throw these incredibly irresonsible politicians out of office. Some analysts are predicting a Dow 5000. The way things are going a Dow 3000 is entirely possible.


Kurt Bernard   March 2nd, 2009 9:55 pm ET

We will always pay taxes.Our children and our grandchildren will be paying taxes just as our parents and grandparents paid taxes. That is the worst argument but everyone uses it.


Peter Dold   March 2nd, 2009 9:55 pm ET

I agree with Ben, that the administration need to be concerned with the people and there retirement fund. AIG got itself into this problem let them get out of it on their own. To many companies are using the bailout to give the over paid CEO and upper management the bonues that they should not be getting.


Anita Lane from Michigan   March 2nd, 2009 9:55 pm ET

Larry,

Your guests keep mentioning the "mark to market" rule, but exactly what will it take to remove that regulation. Who can make that change and why haven't [they] done it already? Just do it. It seems simple and so very critical!!!


nick   March 2nd, 2009 9:55 pm ET

Dave Ramsey is right on! We are sick and tired of all the bickering. I do agree with one other comment that while most Americans did vote for Obama, they didn't realize how much he would cost!

My only hope is that the US doesn't run out of money before the markets restart. That may insure our retirement income survives long enough for me to get into a casket.


Dodie from CA   March 2nd, 2009 9:55 pm ET

Oh, I know how to survive in these times.....

Have 14 babies and live off all of you!


STOOMZEE.com   March 2nd, 2009 9:55 pm ET

I get my hair cut for $3.50 at Oscars barber shop and give a .50 cent tip!

Northport, NY


John   March 2nd, 2009 9:55 pm ET

Isn't one of the problems now is people with good jobs are not spending and doesn't that make the problem worst. I have a good secure job and I am not changing my plans on spending.


Joe taxpayer   March 2nd, 2009 9:55 pm ET

Stop helping the poor. its to the point that people are expecting the govt. to take care of us. This is wrong. Govt. needs to be smaller, not bigger.
This is all part of a plan to own all the banks and control all the money.
Help the middle class and the wealthy. They create jobs. The poor people only look for a handout. This is not 1950 anymore. People are not grateful for a handout, they expect it. Govt. is only good for national security, that is all they need to provide for the people.


David   March 2nd, 2009 9:55 pm ET

I'm not doing anything different. I've been living frugally all my life. It aggravates me to here guest on the show talk about how the government intents to invest my tax dollars, AIG or otherwise. Those concepts don't belong in the same sentence – government and invest. It is simply not the roll of government under the constitution, which our government used to be based on.

I can manage my money better than government or any one else. I saw this financial crisis more than a year before it happened and I'm a computer engineer, not a economist or finance professional. If I could read the market and who are all these idiots in Washington, using phrases like "unintended consequences" and "investing tax dollars". These are the last people we should have touching our money.


greg   March 2nd, 2009 9:55 pm ET

im am an insurance adjuster from ny...why has anyone not admitted that aig has changed its name to 21st century insurance. Is some of that 170 billion going to changing their name?


JoAnne McLachlan   March 2nd, 2009 9:56 pm ET

I am not sitting around ringing my hands. I'm trying to stau positive, but when you consider that the 30 billion bailout to AIG could be reduced by the 7.7 billion in Pork in the $480 billion spending bill


Diane   March 2nd, 2009 9:56 pm ET

I am amazed to witness the losers (r), those who gave us the war on terror and ushered in the current economic disaster have now directed their war on terrorism at Obama's white house! How sad for America. They need to get with the program ... and the people!!!


Dodie from CA   March 2nd, 2009 9:56 pm ET

STOOMZEE.com

I cut my own hair 🙂


Chuck   March 2nd, 2009 9:56 pm ET

After 40 years of service as a dedicated productive employee my employer showed me the door. to save money we are revisiting everything just as when we 1st married.


Nik without a c Kripalani   March 2nd, 2009 9:56 pm ET

I have had to cut back on expensive lunches. Most of my t-shirts for the Mets and Padres. Why doesn't the economy bail out people and not banks? I am always out of cash and never high with cash. I am sick and tired of banks getting bailed out.

People want to be bailed out. Clinton had the right idea and he gave us a surplus and balanced the budget.

P.S. Forclosure is not option, people want home and think about the homeless and people have been evicted.


darrell   March 2nd, 2009 9:57 pm ET

Larry I want to know what happened to respect? What happend to respect for the leader of our country? I said it with President Bush and I say it with President Obama. The Camander and Chief is just that. Somebody has to make a decission and he makes them, what we have to do is support him because he is tring to save America and if you want the same thing you have to get behind him. Whether you like how Pressident Obama does it he is doing something for America. What are you doing?


Robert   March 2nd, 2009 9:57 pm ET

save your money,, it will be a bumpy ride


Dodie from CA   March 2nd, 2009 9:57 pm ET

I CAN HAVE 14 BABIES AND LIVE OFF ALL OF YOU!!!


Brett Kelly   March 2nd, 2009 9:57 pm ET

I think the thing people need to realize is not how to save money but instead how to manage their money. If you're in trouble with your bills because you lost your job and you have little or no income then you need to take a step back from your life and look at what you owe and to who. Do you want to keep your house or do you want to keep your car? Do you want to eat or do you want to buy new clothes and shoes? And if the American people can manage their money more efficiently and look at the needs instead of the wants they will realize that their debt is a lot less then what it seems.


Anthony   March 2nd, 2009 9:57 pm ET

lowered cell phone minutes & plan, reduced cable tv plan, turned off all outside lighting at night, less dining out, reduced entertainment allowance, & refinanced home to a 30 yr fixed.


James In Kamiah, Idaho   March 2nd, 2009 9:57 pm ET

@robert

Ya and George Bush DID ru a business.... into the ground


Barbara   March 2nd, 2009 9:58 pm ET

The problem with the stock market is it is based on investments. No one has the money to invest if they are hanging on to it because they lost money already, they lost their jobs. Realize what the stock market is it is based on you investing in a company. Of course the market is going down no one is investing. The wealthy are pulling out and the middle class can't afford to invest.


Robert   March 2nd, 2009 9:58 pm ET

can i get 14 surrogate mothers and do invitro fertilization and then

collect a check from the government?? Does anyone have the doctors

phone number in LA???


Fernando   March 2nd, 2009 9:58 pm ET

Dave Ramsey is brilliant!

Dems and Repubs (Together!) have caused this economic crisis. They should all be jailed! Starting with Bill Clinton!!!


STOOMZEE.com   March 2nd, 2009 9:58 pm ET

Bailout if ya get the chance and be happy to have a shirt on your back when this is over!


Dodie from CA   March 2nd, 2009 9:59 pm ET

@Joe taxpayer Stop the fat cats from taking billions of dollars


Brian   March 2nd, 2009 9:59 pm ET

QUOTE"

Chris March 2nd, 2009 9:46 pm ET

Mr.Stein,

please explain mortgage-backed securities. SOMEONE please tell everyone that it is the reason we are in this mess!!

people were making money off others defaulting on their mortgages!!!
why is Oil and Natural gas traded?….by the time you buy a gallon of gas, it has been traded and re-traded over and the price INFLATED?!!

C’mon….lets hear some truth!….please
""
-----------
Chris,

read Frank Fabozzi's "Handbook of Financial Instruments" or "Financial Management and Analysis". It is much more complicated than you think.


mike from Jordan, Ontario   March 2nd, 2009 9:59 pm ET

Money is being wasted bailing out those that don't deserve to be bailed out. That money should be used to bail out those that deserve to be bailed out.


gregg   March 2nd, 2009 9:59 pm ET

WHAT ABOUT HELP FOR US WHO OWN OUR HOMES WITH NO MORGAGE BUT LOST OUR JOBS AND HAD TO GO TO CREDIT CARD TO PUT FOOD ON THE TABLE AND PAY UTILITY BILLS? NOT ON FRIVILIS TOYS, AND ARE NOW IN C.C.DEBT..........NO ONE IS TALKING ABOUT HELP FOR US,ONLY THE IDIOTS WHO BOUGHT HOMES THAT THEY KNEW THEY COULD NOT AFFORD.....I NEED HELP!!!!!!!!!!!!!!!!!.


Kevin   March 2nd, 2009 9:59 pm ET

I'm unemplyed construction worker. Only eat once a day. Wear the same clothes more than once. Shower every other day. Cook one large meal that can be nuked for 3 days. Don't use the heat or a/c.. Use one 40 watt light bulb. All saves on utility bills. Walk, never drive anywhere.


Rich   March 2nd, 2009 9:59 pm ET

AIG executives need to take a "pay cut" until they can turn around the bottom line!!


Fernando Ferrer   March 2nd, 2009 9:59 pm ET

Robert,
I'm glad there's someone out there who really understands what is currently going on. Our liberties are slowly being taken away and the majority of the American people do not even realize it.


Christian   March 2nd, 2009 9:59 pm ET

Larry, if somebody does not understand the basic of the economy there is no way for him to understand what's going on with the bail out.
People need to understand that AIG is a World Wide company, if it colaspses it will be very bad .


Robert   March 2nd, 2009 10:00 pm ET

yeah,,, Obambi inherited a 1.3 trillion dollar debt,, so what the BO do,,,

triplet it,, all at the same time claims to cut it by half,,,, he is a joke


Sonya   March 2nd, 2009 10:00 pm ET

My husband and I have dropped our health insurance. I have started to use coupons and my husband got a second full time job.


Paul B   March 2nd, 2009 10:00 pm ET

I have stopped any further contributions to my 401K plan because the government is going to take them over and we will be losing them.

The all-powerful IRS says that they technically own these funds because no taxes have been paid on them.

So, all they have to do is announce that they are seizing the plans in the name of national security. Just as Argentina did with their similar retirement savings plans.

This has already been suggested by members of congress like Jim McDermet and several economists.

As the market falls further, people will beg the government to save them by taking over the 401K plans and offering some other kind of government sponsored and controlled plan which will be a fraction of what you have already saved.

Remember the gold-recall act in 1933 when FDR forced every American to turn over their gold to the government under penalty of imprisonment. That act still exists today and our 401K plans will soon be following a similar path.

My advice: Immediately close your 401K plans if you can and never add another dime to this IRS controlled plan.


Dodie from CA   March 2nd, 2009 10:00 pm ET

@ Robert we have the same idea 🙂


STOOMZEE.com   March 2nd, 2009 10:00 pm ET

I buy two eggs with cheese and sometimes leave off the cheese...


Michelle   March 2nd, 2009 10:00 pm ET

Hi Larry and Guests!
While I do not have a deep understanding of economics, I have to wonder why Obama did not simply encourage a drop of the interest rate to 4.5%? I realize this would be artificially low, BUT, I know that for me and my family that would be the ultimate stimulous package! We would refinance our house so fast it would send heads spinning. It would mean having hundreds of dollars a month in our pockets to spend. I am sure millions of other Americans would do the same. Wouldn't this be the ultimate stimulous and bailout package??? Please explain this to me. What am I missing here?


STOOMZEE.com   March 2nd, 2009 10:01 pm ET

I know – you cook your own eggs!


Chris in Arizona   March 2nd, 2009 10:01 pm ET

What am I doing to save money right now? Why I'm spending money on our home renovation, believing in America, and the good people who are doing the work! I'm finding great deals out there and now is the time to help each other – not to be scared in the closet! It is our collective belief in each other, in America, that will bring us out of this. I don't think I'll ever find better deals than what is out there right now.


Sonya   March 2nd, 2009 10:02 pm ET

This is to Jim Robinson
The prime interest rate is so low b/c it encorages to people to take there money out of savings and spend it! I learned that in economics 101


STOOMZEE.com   March 2nd, 2009 10:02 pm ET

What came first the chicken or the egg?


Carol in Nevada   March 2nd, 2009 10:02 pm ET

I quit drinking diet coke saving $100 per month. I pay $100 extra towards my credit card payment in order to pay it off sooner.


michael hepler-smith   March 2nd, 2009 10:04 pm ET

I am biking instead of driving to work. Ten mile round trip saves about a dollar on gas. The exercise itself may be worth many times that. Listen, folks, we can all lay face up on our tortoise shells and whine about our predicament, or we can use our imaginations and use this crisis as a catylist for a greater good, for a life better than the good life we imagined we were living. That is the American way after all.


Gary   March 2nd, 2009 10:06 pm ET

For now there is 92.5% employment of which 2% never work anyway.

Therefore we have 95% employment. Does anyone ever mention this?

I own a small cos. and am having a great year so far. My parents owned a small cafe bus. during the 1930's and made a lot of $$.

It is not all doom.

That said, these gov't bailouts will only prolong this recesion / depression.

They must stop now.


T. H. (Tom) Smallwood, Sr.   March 2nd, 2009 10:06 pm ET

Question: Does the fact that the government just "bailed out" AIG have anything to do with the fact that AIG insures the congressional retirement fund?

Thanks


Renee   March 2nd, 2009 10:06 pm ET

Hi Larry,

I really hope you get this message. As for our Governor of Louisiana, Bobby Jindal. How dare he get on national television and pretend to care about the American people. Because the last time I checked American people consisted of all races of people: white, black, asian, hispanic, etc. Bobby Jindal does not know or care about what an African American person here in Louisiana thinks or feels because he does not talk to us nor does he meet with us to find out. So how can he possibly care about the American people when he does not care about the African American people here in Louisiana. He only meets with whites in small rural areas, which are known to be racist areas in Louisiana. They are people that are filled with hate, and would vote republican even if it means they would have to stay poor for the rest of their days. It is very sad, but it is true! Bobby Jindal does not care about our vote in Louisiana because he is too busy trying to pursue his presidential aspirations and only doing what he is told to do by his political party. I wished you could have asked him about that, maybe next time. But we will show him that our vote does count. I hope and pray the President Obama's plan will work and we together can move this great country forward.

Thanks for listening!!


Driss   March 2nd, 2009 10:06 pm ET

Gentleman, Why is it that the leading economists and legislators are not pushing for very aggressive reduction in the current mortgage rates?
My thesis is that if the Federal Government, in its efforts to stimulate the economy and support the banking system, buys down the current mortgage rates (for both conforming and jumbo loans) to the 3% level, the following results will appear:
1) Most, if not all, current mortgage holders will refinance, which will keep more discretionary income in their budget. They will in turn spend this additional discretionary income to buy cars, appliances, remodel existing homes, purchase insurance policies, and even take vacations. More jobs will be created!
2) More people, especially first-time buyers, will qualify to purchase homes, reduce the existing stocks of foreclosed properties, take bad assets off the hands of financial institutions, and stabilise the value of homes in general. This action will help both the tax payer and the banking system
3)Consumer confidence will improve and the stock market will change direction upward.


James In Kamiah, Idaho   March 2nd, 2009 10:06 pm ET

You two bozos need to get a clue and stop blaming the victims. It's really too bad you worked so hard to defund proper education in this country, cause a little education might have taught these so calle dfreeloaders not to take the crap wrapped in a snickers package you people handed them.


John-Baton Rouge   March 2nd, 2009 10:09 pm ET

The Gentleman who is 90 and HAD to go back to work says it all, through no fault of his own he lost everything and now has to provide for his family.....What a role model for Americans... Hes an American hero...I'm sure he had the same stimulus plan I had growing up...It was my dad and mom who made us get up and be productive kids.... beginning by taking pride in where we lived..... cutting the grass, raking leaves.... ect... then public service by helping others less fortunate than we were... by participating in our local church... They taught us work ethic.... respect, pride.... live within your means.... having a down payment to buy a car or house was the rule and never the exception. Get up everyday expecting the best, do what ever it takes to pay your bills, live within your means....


Tyrone Westfield   March 2nd, 2009 10:09 pm ET

What I am doing to save money is everytime I receive my change from a $5, $10, or $20 bill I put away I save the singles and also the coins. I believe as americans we have to stop putting the blame on each other. I agree with what Mr. Dave Ramsey said and that is we have to go about our everday lives. We as americans have to realize that even in spite of our economic crisis (which did not happen as soon as President Obama came into Office) that there are nations and countries that have been suffering for decades, so we are fortunate that this is only a temporary crisis. We have to learn how to save and come together as not just americans but as people that were created in God's image.


Glen Reuben   March 2nd, 2009 10:09 pm ET

In 1997 I was in Thailand when the financial fiasco beginning there started a domino-effect globally.....I learnt somethings about how Governments work at such a time – they take money out of their reserves and keep preotecting their Companies/ Currencies or whatever else that matters to their economy. Ultimately neither the Company/ Currency (per Thailand) holds up due to deplorable economic situation, nor the reserves as they have run nearly out of their national reserves (going overboard in debt, in case of our economy, the US)! The company dies and you neither have this nor that! I thereofore for long have been investing in Gold......never ever lived on revolving credit and have a good amound in savings. Could never imagine living beyond my means after I saw first-hand what happened to Thailand which lived similarly!


Eugene Butler Jr   March 2nd, 2009 10:11 pm ET

Good evening Mr. King I am a 30 years Army veteran, I serve in the Gulf War and The War on Terror. I have listen to a lot of television commendators and believe me if these people were in the military and offer nothing but complaints and no solutions we're defeated before boarding the aircraft.. Please ask your guess how would they solve the problems we are facing today. Please tell people like Mr. Rush Limbaugh and others like them that the American people elected the President to SUCCEED. We need all Americans with good ideals and workable solutions. Love your show, thank you for keeping us inform.


Sonya   March 2nd, 2009 10:11 pm ET

I don't understand how Fannie Mae be 53 and Freddie Mac be 54 on the 2008 fortune 500 but yet need bailed out?


Mark   March 2nd, 2009 10:13 pm ET

Randy,

RE: The Federal Reserve. Don't count on it. The Fed is the inflater and destroyer of the economy. Read the book: "The Creature From Jekyl Island" for the sordid history of the Fed. Or you can go to Mises.org and look under "media" for a speech by Professor Murray Rothbard on the Fed. The Fed has been responsible for inflating the currency, causing market bubbles and inflating the currency to worthlessness. Consider this fact: Today's dollar is worth 3% of its 1913 value when the Fed was formed.

The supporters of the Fed have no answer for that fact!


Robert   March 2nd, 2009 10:13 pm ET

Our vulnerability on foreign sentiments has increased. 40% of treasury bills is now owned by the Chinese and, just like in the 80's with the Japanese, if foreign bond holders get skittish, it's bye bye birdie. Notwithstanding this point, Obama won the election on the promise of a government that would remove the very waste that caused this problem, yet we see our country heading into a deeper version of what's happened over the past 8 years!


Joe Coens   March 2nd, 2009 10:14 pm ET

Why is it that when the discussion among "experts" on CNN concerns big bank bailouts or for AIG, this evening, they are largely in favor of the bailout for the good of the nation? Whereas, when it comes to a discussion of government money spent for the purpose of health care, social security, education, mortgage help, or any of the other expenditures that may directly impact the average American, suddenly the "experts" say, "Where in the heck will this money come from and how will our grandchildren pay for it?" Is CNN really unbiased, or is it becoming FOX 2?


ron la bau   March 2nd, 2009 10:15 pm ET

We live within our means and have never overextended. I am conservative democrat. My pickup is twenty years old. runs good ,looks bad.
I. won't be buying anything more than we need.


Juanita   March 2nd, 2009 10:18 pm ET

Larry,
There are many topics on when the economy recovers how will people spend money. No one suggests paying for things in cash, but rail against the 'credit' card companies new credit line adjustments.

What are your thoughts, or the pundits, on consumers giving the 'credit' card companies the heave ho, and buying everything in cash, for say [1] one year?

I filed chapter 13 in 2005, abided by the guidelines, and feel liberated. I do not open mail to find that a credit card has been closed, line reduced, or other company induced surprises. I doubled up re-payments and will finish the plan [6] six months ahead of schedule. I am gratefull for a second chance.


Barry Johnston   March 2nd, 2009 10:19 pm ET

Listening to the Larry King just now, comments were made like "focus on the financial markets, instead of alternative energy". What do you think make up an economy? Institutions? You need new industries that will address real needs. That is the principle of good business and free-enterprise. Build industries that address real needs. There is nothing on the horizon more real and practical than addressing alternative energy needs.


Doug   March 2nd, 2009 10:19 pm ET

You republicans have to get your stuff together and become Americans.


Sonya   March 2nd, 2009 10:21 pm ET

DEAR GARY,
The reason why an unemployment rate of 9.25% is such a big deal is b/c the average is 5%. Anything over 6% is bad so 9.25% is crazy bad!
I think that during the depression unemployment was at 10%. I could be wrong about that though.
You got to think that the extra 5.25% of people on welfare and unemployment has a great impact on our governments ability to finance it especially since most welfare programs are partially state funded.


erin   March 2nd, 2009 10:30 pm ET

republican or democrat just suck it up... we all want to say we're a part of this country when it's doing well then when it's down in the dumps we start pointing fingers.. let's act like mature adults here


Winston   March 2nd, 2009 10:36 pm ET

I don't need to save money, the government will provide alls I needs. God bless Obama


Robert Kearney   March 2nd, 2009 10:40 pm ET

oh by the way Robert President Obama never ran a bunch of oil Co in the ground the way he did S Savings loan Bank and our economy


iraj   March 2nd, 2009 11:01 pm ET

none of your guest that include Larry does not understand the problem average guy-father-mother face s today. guest talk-Larry listen! they go on to another show.. we go with the same questions. WE GET IT!
look out Ali he looks like a cuff linked-silk shirt – Pawn store owner.
what does he care.this is such a fashion show of politics.. great gigs fellas you all have really ..god bless you all, I see aramani cooper in the bullpen-warming up.same thing different time slot-different designers!!
AND CAN you please change the same tone and political bias on david gergen. what does he saying. NOTHING.


Woody McBreairty   March 2nd, 2009 11:34 pm ET

Too bad this otherwise valuable program had to be ruined with the likes of Ben Stein.


Evey,Oregon   March 2nd, 2009 11:37 pm ET

Why does it not occur to any of our republican critics that the $12 billion a month that has been spent on Iraq has a lot to do with the over the top deficit they are trying to blame on President Obama. Do any of you not realize that that money went into play 7 years ago,not 31 days ago. Our current President has a lot to fix after the 8 yrs. of Bush and the republicans,and no one can expect it to be fixed in 31 days. Well, I guess I should say any educated person could not or would not expect that kind of miracle.Yet all we hear from not all but the majority of republicans is "OMG look what he's done", like the economy crisis just happened yesterday. Come on,get real!! President Obama didn't cause this,but he's losing sleep trying to make YOUR life better. Try giving him a chance to do so.


Kurt Hutton   March 2nd, 2009 11:56 pm ET

Here's how to implement Ben Stein's advice that Congress needs to pass a law that frees financial companies and insurance companies from the burden of predatory speculation.

Let's pass a law that voids credit default swaps; but let's also avoid the moral hazard of punishing investors retroactively by having the insurance companies (like AIG) return to the speculators the premiums they paid. But the insurance companies will not be obliged to pay the speculators interest on those premiums – in this economy getting back 100% of an investment made in the past few years would in itself be a financial success.

This law would also tax 100% of the proceeds of those credit default swaps that have already been redeemed – thus providing the government with a source to help fund its bailout of AIG and the banks.

My credentials? I'm a CPA and the Chief Financial Officer of a building materials supplier. I'm 63 years old, but I read at the 66-year-old level. I've dealt with banks and with insurance companies every day for the past 12 years. But, like most businessmen, I've never had anything to do CDO's or default swaps.


Stoppinby   March 3rd, 2009 12:10 am ET

I am actually getting married and spending more money than ever!! My job is stable for now, as is Austin Tx. Funny... we lead the nation during the dot.com bust in 2002 . Austin lead the nation in job losses per capita of IT employees. This time its the rest of the country that seems to suffer first.


Joel   March 3rd, 2009 12:11 am ET

I'm doing everything I was doing before this mess. I'm saving money and living within my means. I used to be a Republican too because I thought it was a party that could live within its means. As it turns out, it's a party that wastes taxpayer dollars and encourages discrimination and only changes its tune when it loses an election. Thank you to the Republican Party for ruining my country!


John   March 3rd, 2009 12:12 am ET

I like the comment made by Michelle a little ways back in the above comments. President Obama should consider lowering the interest rates to 4 or 4 1/2 percent. There are lots of people out there who are just short of being able to purchase a home. Lowering the interest rates would draw 10's of thousands of these people back into the market. New homes would begin to be built and homes that sit empty due to forclosures would be purchased. People would start to buy furniature for these homes and put construction people back to work. The whole thing would just mushroom and perhaps turn around all the fear and anger that is being expressed. How much would the lower interest rates cost the taxpayers? Nothing! The banks would simply have to start taking less of what money we may have and that would just sadden me terribly.


Jerry Whitehead   March 3rd, 2009 12:18 am ET

Gov. Jindal failed to answer whether he wants President Obama's plan to fail. Also, he ducked Larry's question "What if the plan works?"


Phil   March 3rd, 2009 12:19 am ET

What am I doing?

I keep my 15 year-old car (200k + miles) maintained and running, rather than buying new.

We eat out perhaps once monthly - maybe. Moreover, no money is wasted on habits such as tobacco or booze.

Our entertainment consists of simple pleasures such as going for a long walk.

We keep stuff until it wears out - clothes, electronics and so on.

Keep it simple and avoid the bait of marketing promising your "quality of life" will improve if you buy the latest and greatest. Read, walk eat well and save some cash.


HARRY WETTIG   March 3rd, 2009 12:23 am ET

In order to save money this year I am going to refuse to pay my Federal Income Tax!


Sam Barker   March 3rd, 2009 12:25 am ET

Jindal seems like a hypocrite. Louisiana has received $170,000,000,000.00 since Katrina hit.


Jesse Whitfield   March 3rd, 2009 12:26 am ET

Gov Jindal: showed no respect for President Obama after the President delivered his first address to the nation. Where was Jindal's voice when President Bush left us with the three ing's. When he came in office he did nothing! While in office he gave us nothing! When he left office we had nothing. Let Rush the pill popper explain that!


Max Schell   March 3rd, 2009 12:27 am ET

Governor Jindal was not honest in his delivery. He never talked about the $700 billion (nearly a trillion) that his party 'gave away' to corporate and personal cronies. But he was too critical about tthe $787 billion that Obama government is using to fix the problems with accountability. Governor Jindal: be honest, don't attack for the sake of attacking. Think of the country. Where is your patriotism?


Jamil   March 3rd, 2009 12:27 am ET

Larry I'm a huge fan, love your show!! I'm saving money by not coin out as much and not tajking vacations. I think what's happening with our economy is something we've never seen before, I believe that this mess started with bad banks giving bad loans, all greed unfortunately we are all paying the price for their greed, and we keep bailing them out??? Unbelievable!!!!


trisha paresa   March 3rd, 2009 12:27 am ET

what am i doing???what MOST americans need to be doing....instead of thinking about food stamps im CUTTING MY CALORIES !!! instead of eating fast food im EATING HEALTHY AND EXERCISING (a walk daily at least) !!! that way the government doesnt have to pay so much out for MY healthcare !!!!! duh !!!! EVERY ONE needs to re-think what THEY are doing to HELP the government cut expenses and i think EVERY ONE needs to consider these options....after all....we ARE the most obese country in the world!!! tks for listening, larry!!!


Kevin Harrington   March 3rd, 2009 12:28 am ET

What I am doing to save money is giving up on the belief that my mortgage company American Home Mortgage will do ANYTHING to help me keep my home. Walking away froma 11 % mortgage after 2 years of making on time payments each month calling and asking for some kind of work out. I have used up the last of my savingd keeping my payments current. By walking away I move into a rental of a nicer house which is almost 25 % bigger and save myself two thousand a month.


daniel   March 3rd, 2009 12:29 am ET

larry i know you are not stupid are u kdding me how can obama lie right to our faces and think we as hardworking americans are so stupid. he wants us to save when he will spend 3 trillion yes 3 trillion larry and u have the nerve to say the rep started it i am neither rep or dem but look up the numbers 2006 the deficit was in the 400 billion then down in 07 to 200 billiion and then up to something like 400 b in 08 now in just 6 weeks obama has out spent everyone do u understand larry my god obama is killing this great country with his maasive govt spending and dont be fooled its not stimulis larry just look at the market we lost a whole decade larry in 6 weeks my god start telling the people the facts about obama the rep spent bad the last 8 years but now obama has taken it and run run run its crazy pls start telling the facts on this clown oh wait CHANGE IS COMING THATS RIGHT HE NEVER SAID GOOD CHANGE JUST LOOK AT HIS CABINET ITS ALWAYS FUNNY IF IT WAS NOT SO SERIOUS ALL HIS TAX CHEATS AND NOW OUR HOME LAND LADY DOES NOT EVEN KNOW THAT THE TROUBLE HAS SPILLED OVER FROM MEXICO INTO OUR COUNTRY YET MY GOD WHY FOCUS ON RUSS LIMBAU HE JUST DOES A TALK RADIO SHOW OBAMA IS RUNNING OUR COUNTRY AND KILLING US ALL


joseph mauro   March 3rd, 2009 12:29 am ET

What amazes me is after making every cut from utility consrevation to food shopping and everything in between I still cant make my bills .the middle class has been in a recession for atleast 5 years but they used there houses and credit cards to keep up.Cost of living sky rockets and cost of living raises are 3%. The middle class has been redefined . Iam underemployed and underinsured.The new american dream.


Ram   March 3rd, 2009 12:31 am ET

Hi Larry,
I am a 26 year old earning 75K who spent almost 300$ each month on restaurants in 2008. Now citi bank with whom i own 3 cards have increased my percentage from 6% to 29% . Now its been 5 weeks i have visited a restaurant , watched a movie in a theatre nor went for friday night bowling. I am cutting down all my expenses except for those that are necessary to keep my engine running.

Also i like your book "How to Talk to Anyone, Anytime, Anywhere : The Secrets of Good Communication"

Thanks
Ram.


Willard Burner   March 3rd, 2009 12:32 am ET

Cut all my insurance coverages to bare bones.
Stopped buying most everything that is not essential.
Shopping as much as possible with off brand names.
Borrowing ,when ,where, I can for lowest rates to lower interest paid and to lower debt structure. Expect situation to get worse for some time to come, so expect to stay on this austere program for quite some time. Too much money going to programs that probably will cause more harm than good.


Danny   March 3rd, 2009 12:35 am ET

I save by buying less. I would like to save it in the bank, but interest rates are too low. Banks cannot operate on these bottomed out rates. We have to gradually bring interest rates up to encourage saving and discourage overextended (cheap) credit. What were interest rates at the end of the last recession?


Willard Burner   March 3rd, 2009 12:37 am ET

Forgot to mention cut telephone expenses in half by going to computerised phone system,.
Changed internet to broad band tocut that expense in half.
No doubt more if I think awhile longer.


John   March 3rd, 2009 12:37 am ET

To save money I'm writing a check each month to president Obama & the governent, they know how to spend money so well. I thought they could do something go with some more of my money. Were going to get it all back anyways. Or atleast half, in a few years.


Sean Copeland   March 3rd, 2009 12:37 am ET

From a young Canadian viewer:

Our economies rely on spending in order to create growth. Now consider that basic economics outlines the less-than-cyclical fashion that money moves within an economy. What happens when the rich have everything they want and the middle class become the poor because they have no more money to spend? This is why our economies require workers or other resources that we can exploit from less wealthy countries for our own economic growth.

We need to reconsider how we value life other than by the GNP.


Ying   March 3rd, 2009 12:39 am ET

We save by using coupons, car-pooling, buy one, get one free dinners, buying in bulk, shopping at thrifts store and low end chains for kid's clothes, Anything dollar amount that is left in the checking account on payday gets moved into the savings account. It's a slow, painful process, but it's such a sigh of relief to see the amount climb ever so slowly.


Wendy   March 3rd, 2009 12:40 am ET

saving money? I do now save money here and there. Such as one less trip to the grocery store, eating at home, etc. I can save a dime here and a nickle there, but my 401k loses a thousand dollars one day and another 2 thousand next day. My efforts of changing life style for saving money seems doomed.


Mohammad   March 3rd, 2009 12:47 am ET

I did cancell my Cable Tv six months ago.


Bob Waldrop   March 3rd, 2009 12:48 am ET

+ We cut up all my credit cards.
+ We cancelled all of our cell phones (2 in the household)
+ We are planting a garden.
+ We are eating out less.
+ No traveling this year.
+ We are shopping at thrift stores and flea markets instead of buying new stuff.
+ We superinsulated our house and installed a passive solar sun porch and got new energy efficient windows last year. This cut our monthly energy bill significantly.
+ We are making extra principle payments on all our debt to pay it down faster and thus we pay less interest every month.


KASJ   March 3rd, 2009 12:49 am ET

What I am doing to save money during these trying economic times is cutting the fat off of my overall expenses. My family and I do not eat out or spend as freely as we once did. However, the greater question is: What can be done about companies, such as AIG, who are looking for and relying on numerous bailouts? Are they being advised, held accountable for their obviously bad spending habits?


Karen Weiser   March 3rd, 2009 12:51 am ET

We are worried about making new jobs. There would be more jobs for young adults if the seniors could retire. Adults age 62yrs and older are not able to retire if they have no money to retire on. If the stock market could correct itself then these seniors could retire opening up new jobs for younger adults.


Steve Billings   March 3rd, 2009 12:51 am ET

Ed Schultz is in absolute fool! He has no idea what he's talking abouth thereby is an excellent representative of the liberal left. Case in point, about 2 weeks ago I tuned into his radio show. He was asked where the money was coming from for the Obama stimulus package. His answer, "it comes from the federal reserve". Further he went on to say that we are essentially repaying the money back to ourselves! Nonsense and untrue. WE ARE BORROWING THE MONEY FROM CHINA ETC.... idiot.


Jose Frias   March 3rd, 2009 12:51 am ET

The problem that we are facing is due to partisan politics, corporate greed and appathetic citizens.

Our elected officials have forgotten that they are in office to serve the country and not their political parties or their personal interests.

Corporate greed and criminal activity within corporate boardrooms seems to be rampant and our elected officials are not doing anything to prevent these activities.

The worst of all if the apathetic citizens who do not vote or desire to be involved in the political process. We put the elected officials and we can get them out as well.


David Cathey   March 3rd, 2009 12:52 am ET

Saving money by going camping locally and NOT BUYING AIG Insurance, Turning out lights, taking cooler showers, cashing my 401k plan in and putting it in locally owned Bank!


KASJ   March 3rd, 2009 12:52 am ET

My family and I do not eat out or spend as free as once did. My question is: What is being done about these companies, like AIG, when they are obviously spending unwisely, and then, asking for bailouts from the taxpayers? Should they not be forced to sink or swim like the rest of us who are struggle and not seeing ends meet?


sportygal85   March 3rd, 2009 12:52 am ET

As far as saving, as a college student I'm eating more on campus and not buying out so much. Also helps that I work at a grocery store and cook food in my dorm.

Jindal, I'm very disappointed with. If he disapproves the stimulus package for Louisiana, I think all citizens should get up and leave. There are people still struggling with Katrina, and he's not going to take any help? Shame on him.

Rush Limbaugh- Larry, how did you feel about that joke he used at CPAC?


Kyle Cameron   March 3rd, 2009 12:53 am ET

I think taking a vacation is something we should consider. The hospitality industry is in need of a bail out as much as any one. Planning your vacation, buying needed items, traveling to your destination and having a good time by paying cash can stimulate the economy more than any government bail out. Whatever you do, don't put your vacation on credit cards or take out a second mortgage to take your trip. If you can not pay cash you probably should turn off the cable.


Kathi Ceresia   March 3rd, 2009 12:56 am ET

I think the whole stimulus money should be divided equally among every tax payer in America, not all the big wigs and corporations. I don't know my math but i would assume 100 thousand should go to each tax payer and the economy would be stimulated by that. People would buy, sell, and do buisness in America and everyone would benefit from that. It would take of the middle working class families and poor class families that support this country everyday. It'd take care of everyone who is working and trying instead of the just the top dogs.


Kyle Cameron   March 3rd, 2009 12:56 am ET

We were homeless 28 months ago, we bought a house in November 2008. I have so many suggestions but I stay to this one. Tear up old t-shirt to use as towels, napkins and rags.


Michelle   March 3rd, 2009 12:57 am ET

What will help our economy is the term limitation in Congress. Accountability starts there. If these people cannot take control and act like adults then we cannot get anywhere. The deficit was there it is nothing new. When it comes to paying for wars and foreign interest there was no big debate, now the focus is home suddendly everyone care about the debt to our children. If nothing is done then our children will not have nothing left anyway so what are we protecting trying something different. We need to start interviewing the people that really matter the american people and stop focusing on these ELECTED OFFICIALS that should be fired. Stop giving these people the time of day. I am sure they make over 250K and thats why they are speaking out. Lets move forward for our CHILDREN SAKE ENOUGH !


Andrew   March 3rd, 2009 12:57 am ET

Why can't we get government out of businesses?


Ryan   March 3rd, 2009 12:58 am ET

My wife and I are doing Dave Ramsay's Financial Peace University classes.......what more needs to be said!?!?!


Gocachi   March 3rd, 2009 1:00 am ET

Hello Larry I wrote the book and suggested to the President to invest 2 trillion dollars into America. He's asking for 3. I now know he's listening.


Maui Bob   March 3rd, 2009 1:02 am ET

I own a business and I have cut hours but maintained employees working everyday.
I am still paying their medical. More hours may be cut. There is no draw for the employer for the past 90 days.

Give every mortgage holder $200,000 to start the economy.
100,000 for the new mortgage ( a requirement)
30,000 minimum to buy a new AMERICAN car. And use the rest to stimulate local businesses like mine.
To HELL with the big companies. Let the American poeple handle it


Anna   March 3rd, 2009 1:03 am ET

I had money in the bank to do extensive updates on my home, but I have decided to leave the money in the bank until things stabilize. I believe that things are going to get worse before they get better. Since my husband and I both receive pentions from Social Security, my retirement from the Federal Government, and his union pention fund, our income is pretty stable, however, I am watching everything that I buy, and am putting off buying anything that is not absolutely necessary. We are trying to cut our massive utility costs, and are trying to add to our savings. We also own a business, and my husband goes to work everyday, and we have been very lucky as work is still out there for us. My son who runs the business end of the business, has never borrowed any money to pay for payroll or anything else. People continually told him you have to have a line of credit in order to do business, however, we have never done this. We have always been a pay as you go company. We have a good credit rating, and a great reputation. We are putting off buying any new equipment, or making any large expenditures for now. We have never been "big spenders", and have always tried to stay within our budget. I do worry about my children and whether they will continue to have jobs. The one stable factor is that we own our home and it is large enough to allow them to come home to live should things really get bad for them. They all work hard, and have fantastic job ratings, but in these days, this does not always count. All have lost a lot of their retirement, but since they are also savers, they are managing. We don't bring in or go out to dinner. We watch what we buy at the grocery store. We are both in our seventies, and no how to cut back, and this is what everyone has to do.
I believe that both parties have got to sit down and seriously get together and do some serious brain storming to make things better for everyone. I can't stand this continual name calling, back biting, etc., that does no one any good. The republicans need to stop thinking about what they are going to do in the next election, and start to worry about what needs to be done now.
I don't know think anyone really knows what will work. We have never gone through something like this. When things get tough, my family all work together to help each other until things get better. Our government needs to do the same thing.


Barbara   March 3rd, 2009 1:03 am ET

Stop spending at all costs. We are retired and thought our hard work all those years and maxing out every savings possible would be enough. Now we are down over 50% of our investments and might run out during our retirement.
It this is the change the American people voted for,we were all very stupid. No way throwing all our tax money at this losing firms will help.


stephen   March 3rd, 2009 1:04 am ET

Hi Larry,
Hope you are well!. I would like to know why the people don't get the money and we pay the goverment back at 4.5% just like the banks. So we get the bail out and pay it. So everyone starts from 0. More jobs, buying and the banks get there money.

Stephen

Great show! gob bless you.


Wes Keyson   March 3rd, 2009 1:08 am ET

I gave up on the big banks many years ago. I trust my credit union for my banking, savings, and mortgage needs. My retirement savings are with another old standard, Fidelity. My insurance is also with an old standard, USAA. The government should give the money to the institutions that are getting the job done. Why don't we hear more about credit unions, and why not funnel the money to institutions that are already functioning well?


DON   March 3rd, 2009 1:18 am ET

AMERICANS , WE NEED TO PULL TOGTHER, STOP GIVIN BILLIONS OF OUR TAX MONEY AWAY, WHY ARE WE GIVING NINE HUNRED MILLION DOLLARS AWAY TO THE GAZA STRIP, LIKE WE HAVE MONEY TO GIVE AWAY, WE NEED A TEA PARTY, WE NEED SOME ONE THA T BELEIVES IN AMERICA, NOT THE RIGHT OR LEFT, BUT THE PEOPLE, THE WAR, THE AIG CROOKS, THE CAR CROOKS, THE WASHINGTON DC CROOKS, THEY CAN GIVE OUR MONEY AWAY CAUSE THEY DON'T PAY THEIR TAXES, THEY DON'T PAY SOCIAL SECURITY, THEY GET FREE HEALTH CARE , PLEASE AMERICAN PEOPLE I AM A TAX PAYER, HAVE BEEN FOR 36 YEARS, STOP THIS MADNESS , STOP GIVING OUR MONEY AWAY, AIG, GO TO HE–. FIRE ALL YOU BUMS, IF YOU ARE GOING TO GIVE ANY THING AWAY GIVE US THE ONE THAT HAVE BEEN PAYING THE TAXES, GIVE IT BACK TO US,AIG LOST ALL THAT MONEY AND YOU JUST GAVE THEM MORE, SOME IS GETTING RICH OFF OF US AMERICANS,YEA WE ARE PULLING OUT OF IRAQ,BUT WE ARE SENDING 12,000 SOLDIERS TO THE OTHER COUNTRY AND WE WILL LOSE MORE MEN AND WOMEN THERE,WAKE UP WAKEUP AMERICA


ed,vancouver canada   March 3rd, 2009 1:38 am ET

AIG is worth 100 billion and most of the jobs are outside the u.s. and
now the government is into them for 180 billion dollars?
i wanna know who has money invested in them that are politicians.
Those billions should have been spent different
500 billion is 100grand to each of 5 million americans that need it,and it is given to the lenders via the consumer.that's right joint cheques.
the banks get money to lend to business and consumers breath again.
credit cards at 20% is criminal and people have been forced to live on them.
the only solution is for millions of americans to go bankrupt and burn them all.
by the time the rich con artists rip you off and you lose everything,you will anyway.
this is a massive conspiracy to crash the market,and i say that because they are doing EXACTLY the same thing as the 30's knowing goddamn well it will not work.
google eugene meyer and figure it out for yourself.
when warren buffet is worried,there is a good reason.,on the other hand,
They do not really care though,they have enough money to ride out the next 10 years to recovery and make a killing.
That is what happened in the first depression,and created anti semitism.Today we have bernie madoff to make people feel better.


ed,vancouver canada   March 3rd, 2009 1:55 am ET

Mari ,obviously you do not work for Wal Mart as it is impossible to have 8 months of expenses saved unless you live in a tent.

stoomzee i agree with you and i say 6000 by the end of march.

live within your means means you have a job,and make enough to survive.40% of americans earn 2000 a month.Thats not possible.
The goal here is for the rich to buy america cheap.

Actually it is the saudi etc.brotherhood,a job from within.
The americans have been duped by the biggest scam of all time,alot of talk and long term projects,the billions should have been to the consumers as joint cheques to the banks.Consumers off the hook and the banks get their billions.
Real estate should be 4 years tradesperson income for a house.
Do the math,it is the worlds biggest rip off,next to gas prices.
Gas prices did in the car companies,and lost home values the ability
to borrow.
The job losses are the big problem,debt is one thing...but no job and you are screwed.
All those consumers should just file for bankrupcy as the credit card companies are taking away your cards,and you are losing your job.
it is going to get alot worse.
and afghanistan?only an IDIOT would go there.
Good luck.....we in canada are half american owned.


ed,vancouver canada   March 3rd, 2009 2:16 am ET

6 dollar a day diet....2270 calories. took me years to figure this one out.
this diet has :
104% calcium, 100 grams protein(180%),134% iron 100 percent fibre
2 slices process cheese,
1 can pink salmon,
4 slices natures harvest bread,
2 instant noodles,no flavor packet,or 160 gr spaghetti
50 grams trail mix
can beans,tomato sauce
1 apple
4 carrots
1 potato
contains omega 3 and 6 and potassium,and vitamins a.b,c,d,e,k, etc
and all you need to be healthy.and the fibre.
the sodium level is high but if you use the no salt added salmon,it is fine.
substitute chicken legs,for the salmon,if you like.a couple times....they are high in taurine which is a very good antioxidant. and cheap.
tuna is not good too often,it has mercury.

times are tough and i am experienced at it,for years.
This is the best diet i have been able to put together.
Trail mix at 7 dollars for 2 pounds is the healthiest complete food if
you are really stuck for money.
The good thing,other than the cheese and the chicken,you do not need to refridgerate anything. That is why the canned fish is good.
you can be on the streets and still be healthy.


Sanctuary   March 3rd, 2009 2:29 am ET

Dear Mr. Larry King,
I'm a mother of 4 children. My husband still having a full time job thanks GOD for that and we now running 2 small business for the last 8 years that we still paying our loan from taking money out of second home mortgate, business loan. Over a year business start slow down my income bring in now is $.00 I'm now having total about 12 employees, before about 17, to make story short I having cut everything from business to family cost by runing doing everything by myself . I'm a Manager, recieptionist, Hair stylist, cleaning 2 store and windows, working 6 days a week, my 4 years old no longer having babysist I'm almost have to take my son out of preshool that I paid $230.00 a month, my house electric and gas in Feb cost me almost $1,300.00 that still haven't pay yet. I stop shop foods at Giant so I when to Asian Maket it cheaper there. Had been a year I using most of my creditcard to pay my bill from business to housr bill. My credit score go down and credit rate when up like citibank charge me 19.99%, Advantafinance 37.18% I could'nt make make my mortgate payment in NOV and DEC 08 so my husband have to take out 401K to pay the mortgate, myself I close out my saving and life insurrance. So please Mr. King help me , give me an advice what should I do? close my business let myself and other 15 employees out of job and my husband income not enough to taking care my house hold. Here I'm watching CNN every night that I hear the goverment bail out with big money to all big corperate and here I'm could'nt find any bank can refinance all my debt in to term loan for more affortable. I think litle business like me we need bail out also. I'm having no other way to hang on any longer. And my question why the goverment let the creditcard company charge higher rate up to 40%. I left my third world country undrer communist when I was 17 years old along because I'm Amerisian I have no life there I'm only unfinish second grade level and come to America is heaven place on earth that in my heart nerve change, but rate of creditcard charge my I fill like I loan money to Black maket i call"LOANSHARK" Mr. Larry King I need bail out and Small Business need Help. SORRY OF MY ENGLISH THAT ALL I GOT.


Wester   March 3rd, 2009 3:08 am ET

By the way...as of Nov 08, Mainland China held 22.1% of the national debt...meaning the Republicans had mortgaged us to the Communists.


James In Kamiah, Idaho   March 3rd, 2009 3:23 am ET

Once again Larry...
Invest in soemthign you enjoy doing over and over again, it really helps.
If you like boob mags, buy boob mags and enjoy them for the enxt year or so, dont' buy any new ones, listen to some old records, casettes or cd's oyu haven't listened to in a while and learn to appreciate the music again, read a book for the umpteenth time.

Me, I like World of Warcraft tradign Cards. It's inexpensive, the art is fantastic, and you get a different game every time. it keeps oyur mind occupied and can pass two or three hours. It's challenging at first, but really picks up as you go along.

Dont' invest in stocks unless you liek what the company is selling. Stocks are a faith based initiative. I got news for you all too, people, even poor people are a faith based initiative. Start investing in the poor people around you, and you will get at least half that investment back.


James In Kamiah, Idaho   March 3rd, 2009 3:25 am ET

Oh and buy lots and lots of potatoes and rice and oranges. Buy things that last a long time and in bulk. a 25 lb bag, at a cup a day saves a lot of money, garauntee's you have at least one cup of rice a day for at least a month, and is incredibly versatile. same with potatoes. Oranges are excellent for oyur health, and well, they're just tasty.


Maria D   March 3rd, 2009 3:26 am ET

To whom it may concern;

I was watching the news tonight and I was saddened by the endless amount of suffering in this country today; so many people struggling with fear and dying optimism as they look at a bleak present and hoping for a light at the end of the dark tunnel that they are trying to climb out of. I feel my heart ache at the thought of what I cannot do, alone, to help them and the little that my impact could have on this country.
I said a prayer tonight, begging God to let me help in just some way; to let me somehow give more than just one person is able. I hope he heard my prayer and will let my wish show in this plea for help.

My plea is to this country; please, I beg you, please take a look and see that it is really we who are destroying this world that took many years to build; with our fears and greed, we deny the truth and hide from reality so that we will not have to see what we have really done. When we were young, we saw things in ourselves and in the world that no one could take away; but somehow, in our journeys we may have forgotten those dreams and feelings. We may have found ourselves lost in the constant struggles with society, social classes, greed, fear, and so many different forces that have kept and still keep us from our full potentials. We were all given a special quality that we should now use to rescue ourselves and each other from the bleakness that we are in and the doom we are going to. It is now time that we all look into our souls and find the strength that we need to come together and bring this world to where it should be after all these years, rather than the turmoil that it is facing in the present and upcoming months and/or years.
Let us join together and forget about our individual fears and greed for staying alive. Let us come together and fight for our country; none of us will be able to rescue this world alone and it is time that we stand together and tell the negative forces that are trying to take away what we have fought for and loved; “We are not going to give up without a fight and we will stand stronger together, with all that we have learned over the centuries, and all that our ancestors have gone through to keep our world moving forward in a direction that should keep our country strong and much safer than you would have us to believe at this time.” Let’s not give into the fear that we have now and let us use it to grow stronger together, as a “Team” and “Family,” as our ancestors had done to protect their own lands for so many years.

If we come together and use the wisdom of each other to find a way to fix this mess that we have created for ourselves, through our lack of commitment, loyalty, participation and love for our country, then we may find a way to make a fool of anyone who would doubt our perseverance and strength through a much smaller time span to rebuild our country back to the empire that it really is and should be.

Please join me in my plea to our country.


Heather   March 3rd, 2009 3:27 am ET

I am a Canadian and we enjoy government medicare programs, an excellent banking system which is regulated and while not perfect certainly offers all Canadians medical attention without a lifetime burden. When we visit Florida it breaks our hearts to see the number of elderly people being forced to work in order to get medical benefits. We speak to people all the time who tell us they are not able to afford the astronomical insurance costs...


Michael   March 3rd, 2009 3:29 am ET

I found an inexpensive way to have access to attorneys with a Pre-Paid Legal membership. Other than that, I could not afford to call an attorney to get legal advise on avoiding a foreclosure. The attorney was able to give me advice and work on a mortgage negotiation. We were successful in getting the payments down to an affordable rate. It has literally saved my marriage. Everyone should check it out.


Harold   March 3rd, 2009 3:29 am ET

Bobby Jindal doesn't have the backbone to be president of the U. S. He will suckup to Rush Limbaugh, the leader of the republican party as long as he is in office.

I had turned my computer off but after I saw your interview with him, I had to write my opinion. Limbaugh has no idea what to do about anything. He has to ask Ronald Reagan, who is not coming back from the dead what to do.

One other observation, the republicans never focussed on giving tax breaks to anyone other than the rich.


Harold   March 3rd, 2009 3:33 am ET

I am staying at home and driving less than ever. I am getting ready to start a new business this week.


lena   March 3rd, 2009 3:51 am ET

I have no savings to live on. I'm currently living on 18K being that my hours at work have been cut in half. In order to barely make ends meet I've not filled perscriptions, turned my heat down to 65 and basically cut out most everthing I enjoyed working full time. Next on my list to cut is cable and internet. At the moment I'm in desperate need of a new roof. But were are those banks with all that bailout money willing to lend?


jason lumley missouri   March 3rd, 2009 3:57 am ET

funny thing is i cant save money since i dont make enough money to save it im drawing unemployment or shall i say was drawing it as i filed for it back in feb but then did not use any of it as they told me i could only draw like 15 dollars a week so i waited until dec when i got laid off and claimed it getting $181 a week well since then i got it for 2 months and its already time to renew my claim so now im in the waiting process of getting it and now finding out i will be making $168 a week as they cut it down plus paying taxes on it will give me $158 a week sad thing is people on disability are getting more money than i am right now and how am i suppose to afford everything with that my rent is $480 all bills paid a month car insurance is another $50 a month plus the price of food costs and gas so i really cant save anything back and i got no kids as i got my taxes back and recieved like $787 in taxes that money was gone faster than i could spend it but anyways thats life and yet ic the government bailing out banks insurance companies and yet everyone works and pays taxes but yet we really dont get bailed out or any help when we have problems i owe so much debt so i have bad credit cant even afford to file bankruptcy as it costs over $1300 to file it i feel the single people should get a higher income tax as people with kids get more foodstamps higher income tax plus people like me that has no kids also pays school taxes which is not right i feel everyone that has kids should pay the school tax but anyways im having a tough time i cant even save back a dollar as the money is gone by the time i get it\


parker   March 3rd, 2009 3:59 am ET

Our Earth is beautiful-enjoy the sun, the ocean, the moonlight, the stars, and it's energy cuz it's free. No need be a slave to the plastic world...thank you.


JD   March 3rd, 2009 4:06 am ET

I agree with not investing in 401K plan ..your money will not stay in existence for long there. I am trying to get it out of the plan so that I can keep my money. Also, all spending is only on basic necessities – food, gas, rent, utilities and yes – digital cable is a luxury in these times! With companies coming up with novel ways (legal or illegal)of not paying their employees for their work and banking on the fact that everybody is too scared to raise a stink coz of the job market situation, all middle class Americans can do at this time is to cut down on everything but basic expenses


kevin   March 3rd, 2009 4:08 am ET

Hi Larry,

How are you? I think AIG just cannot keep asking goverment to bailout again and again. my question is why every news saying they are too big to fail, but why don't anyone ask AIG, if they are so big enough, why are they failing, should AIG CEO answer this question to everyone. It seems like every bank and company is abusing bailout for the goverment.

thanks larry,
kevin


Ratu   March 3rd, 2009 4:37 am ET

Dear Bobby Jindal
Stop following Rush, if he was that popular your party would have won the election. Please don't change your name and religon just to get elected, people can smell you are a phony thousnads of mile away


ed,vancouver canada   March 3rd, 2009 6:50 am ET

plate of rice,1/2 lb hamburger,can of peas .dinner for 2.50
spaghetti and beans with tomato sauce dinner for 1.50
plate of rice ,can of salmon,peas , dinner for 2.50

here is a soup that can feed 4 people for 6 dollars,maybe less
4 chicken legs, or stewing beef. 3.00
2 potatoes 1.00
3 carrots .50
1 onion .50
small head of broccoli .50
4 slice bread .50
if you can eat cheap,that's everything

salad for cheap that serves 3 for 2 dollars.
bunch spinach
onion
tomato
carrot


ed,vancouver canada   March 3rd, 2009 7:07 am ET

it is really sad that it has come to this.
my parents lived in the great depression.Now i know why they were so cheap.ALTERNATIVE
go north.make sure no one is around.
find a river with gold in it.
cut the trees down and build a cabin.
Burn the trees for firewood.To hell with global warming.
welcome to the 1800s. no welfare,no food stamps,just you and the bears.Well at least you can grow a garden.save your seeds now.
It may come to that,good news you can sleep in.
don't forget your gun.


Jerry Whitehead   March 3rd, 2009 9:22 am ET

I love Canadians– from Missouri


Dave of Detroit   March 3rd, 2009 9:36 am ET

The American Auto Industry needs some help-they have been accused of mismanagement but the real mismanagement was the failure of Bush to act on the rising gasoline prices. He not only did "Nothing" but his Stockmarket deregulation made it "easy" for the Hedge Funders to buy oil commodities and hold out for even higher oil prices. Until the American Consumers have assurrance that there will not be a repeat of this economically devastating event and that the Oil Companies are also being regulated and the Stockmarket Commodities Market is fixed, there will not be a recovery on Auto sales! Please get the Obama Administration and Congress to correct this problem. The Oil Companies need to be under the pressure of "Windfall" profits taxes or they will continue to behave exactly like our Bankers!!!!!!


Char   March 3rd, 2009 12:10 pm ET

Larry, I was disappointed with the interview with Bobby Jindal last night, he purposely evaded not one, but two questions that you asked him and you did not pursue him. You asked " Do you hope Obama fails? His answer, I want the country to succeed- you asked again and he ignored it. You should have said yes or no. You asked him What if the plan works, he ignored you again and did not say what if it works. Did I miss something, yes, he failed to answer the questions!!! I would have pressed an answer out of him. Also didn't he lie about Katrina, that was not even brought up! He needs to be re-interviewed and come up with some real answers. I am sure Rush will tell him what to say.


Harry   March 3rd, 2009 3:15 pm ET

Hi Larry,
I realy appreciate yor guest Ben Stain for his way of thinking. I will like to find his opinion oe a way to solve the current subprime housing isue, and here it is: What about to move back in time and consider a benchmark for the houses value, say 2004. Find the values from statistical data for each ZIP code and evaluate the propeties with mordgages hold by the banks, if the mordgage as existing is over the value, than can be an acid asset, and if is above than is an asset. those with morgages over the value are to be considered for shoring. People with out mordgage and willing to sale a house can use this benchnark value for salling and buying new hauses and may be retract back all the values to a place when things were under control.
The mordgages in foringen banks could help those banks to get out from current predictment. I hope you understand my line of thinking, and if is not to stupid, to develop some thing. And if is stupid, is not worth to coment any more.
Harry


tonia   March 3rd, 2009 3:16 pm ET

middle class lower class dont know what one we are got layed off from my job my husband works two jobs so we can make ends meet we dont live beyond our means never have we dont have new cars or trucks . we could not afford new ones so never got new one .were not behind on our mortgage. but we live pay check to pay check ,vacation whats that.we own a home .we pay 715.00 a month dont sound like alot but it is you put everything else that you pay basic needs thats alot considering we onliy make 60,000 between the both of us.and we have kids to provide for and we do that all on our own no help from the gov. well you know what they say dont know what your missing if you never had it. i guess we consider our shelf pretty lucky sometimes .i guess we feel we do allright our bills are paid we eat eveyday we just dont live beyond our means so we can live.we say ah it would be nice to have a new car/ truck go on vacation we just say someday. we are hard working people to keep up with what we need to . the 200, 000 bailout for we the people would be great . people would do the right thing with it pay homes off buy new cars/trucks and the gov could tax the money and get maoney back from the taxes


Judith   March 3rd, 2009 7:33 pm ET

Cut up the credit cards.Spend with cash.If you don't have the money to pay for something this month you won't have the money with the added interest rate attach next month.


midstate   March 3rd, 2009 8:37 pm ET

I do not want Obama to fail but I hope his spend happy ways fail. If you pay attention that is what everyone is saying but you only want to hear rush say he hopes obama fails. Listen to the whole speech. That is what he says. This is more political reteric that should have ended with your spend happy democrats getting into office.


midstate   March 3rd, 2009 8:41 pm ET

The question america should be asking itself is this. IF you have a finacial shortage at home do you go out and throw more money ( that you do not have ) at it? That is what our country is doing. The democrats have complained about bushes increasing deficit ! Look at your own.


John   March 3rd, 2009 8:48 pm ET

Saving is good but many of us have good secure jobs, shouldn't we spend to help the economy? I have many friends that have secure jobs but are scared to buy the new car, new TV or are putting off the planned remodeling. Doesn't this just make the recession worst?


midstate   March 3rd, 2009 8:48 pm ET

I agree with Judith . Maybe you should be in washington maybe they would understand that you only buy what you can pay for without borrowing.


midstate   March 3rd, 2009 8:54 pm ET

John I wonder the same thing. With the gov withholding less from my check will I see a difference at the end of the year in my tax return? Are they giving my money to me now instead of next febuary when I do my return? I usually use my return as a safety net in case of emergencies so I will have to " Save " instead of invest or spend the less withholding because on my income I need that safety net in case the car breaks down ect........ That is a question my tax preparer could not answer yet. so did the gov cut my taxes like they said they would do or they just doing them differently ?


midstate   March 3rd, 2009 9:01 pm ET

When a person hears nothing but bad news concerning the economy nobody wants to spend money to help. Myself included. We need a new car and now is the time to buy but I dont want to buy if I am going to need that money to feed my kids. I can try to limp along with the one I have. Growing up we had nothing and just made it by. I really thought my kids would not have to deal with that now Im not so sure. I am tired of the politicians arguing about whos fault it is and how to fix it. It is way past time to cut the politics and get together and fix this thing.


midstate   March 3rd, 2009 9:06 pm ET

One last comment. When I grew up on hard times the first thing we did was cut out " NEEDLESS " spending. No more ice cream, cookies, trips to the lake ect........... So why does the stimulus package have all this nonsense spending like 250 million on condoms ( from nanci Pelosi ) 150 million on the study of the smell of hog manure. and the list can go on and on. Call it earmarks or call it nonsense. I dont get it. Does washington think the money never ends!!!!!!!!!!!!!!!!!!!


midstate   March 3rd, 2009 9:38 pm ET

under the bush administration I believe the gap between the rich and the poor was growing wider. Now that the rich greedy people on top got too greedy the gap has greatly narrowed. Stop whining rich people. The people that really make the country go round didnt have money to invest in the stock market they just lived paycheck to paycheck. Now they still live paycheck to paycheck and didnt lose anything because they didnt have anything to lose. Guess we are all on an even playing field.


OJ Ortega   March 3rd, 2009 9:43 pm ET

As one who was hoping to enjoy the fruits of 45 years of project managment I am applying what I learned in zero based budgeting! And hoping that the same antitrust laws that are applied to private enterprise are applied to this government...


jason lumley missouri   March 3rd, 2009 9:46 pm ET

everyone should watch sicko as you watch that it would make you sick seeing how the usa works on medical and dental as if you leave the usa you can get alot better treatment have doctors and such come to your house and not charge you anything get your scrips for $10 no matter what they are and not have to worry about dental as the usa should be universal healthcare as that would make things alittle better if they did that as i realize that wont solve all the problems but i know it would help me alot and alot of us poor people that cant afford to pay copays and medical insurance


lorene   March 3rd, 2009 9:47 pm ET

just food drug store items no dry cleaning just sml change to church ...that's it..fortunately Medicare pays for physical therapy etc ...


kevin   March 3rd, 2009 9:52 pm ET

can anyone tell me what we have accomplished by being in this war in iraq?


maddie   March 3rd, 2009 9:52 pm ET

making my own cakes w/brown egges, flour & sugar..no frosting...turning off lights, heat vents, keeping house @ 64 degrees..we wear hats & sweaters around house..soon spring & summer..we'll cut down on central air....buy everything @ super mkt that is "on sale"..not buying newspapers..we're going to library to resd papers, magazines..we cancelled all out subscriptions ...still buy organic milk tho/no hormones/ we need out skim milk every day..thank u Larry ....


midstate   March 3rd, 2009 10:13 pm ET

I feel so alone in here tonight lol


Tom   March 3rd, 2009 11:17 pm ET

NOTHING. I am doing nothing different than normal. As a matter of fact I have more money since the start of this "recession" than I had before. I am spending more than ever. Because that is how you pull out of a recession. When you spend your money, more demand is made on the system which encourages businesses to hire, which ohh dear god dare I say it, encourages investors to invest, encourages banks to lend, puts us back where we were before. Get over the fear mongering media's reports and spend your money. Quit waiting for the government to solve your problems. The power in this country resides in the people, not just at election time, but throughout the year. If the American people are willing to get off their butts and do something about the situation you would be suprised what can be accomplished. Review your history lessons and you will see it time and time again. The problem is we HAVE become a nation of whiners and do nothings. The majority of the people of this country have a sense of entitlement. I tell you now YOU ARE NOT ENTITLED TO ANYTHING. Except a swift kick in the butt.


bill west   March 4th, 2009 12:53 am ET

Rush (2 judgement) sounds like sylvester pussy cat "sufferin succotash" yelling FIRE in a theater.

His followers want a return to no government, the old west, and utopian libertarian countries like Afghanistan


bill west   March 4th, 2009 12:56 am ET

the only legitimate issue Rush raises is that government spending does not increase GPD. But do we measure the success of our economy on gross domestic products such as cigarettes.


bill west   March 4th, 2009 12:59 am ET

Whatever is good for the production of gross products is not necessarioly good for society – if the profit motive leas us to see cigarettes and wars as good for our economy


Joe Sanchez   March 4th, 2009 1:21 am ET

With Chicken Little's (Rush Limbaugh) message that the sky is falling and saying he wants President Obama (America) to fail and the republicans in lock step behind these same tired outbursts but offering no solutions, the American people are, at last, seeing beyond the devisiveness of the bankrupt republican party. Enough is enough. President Obama is receiving high marks for leadership from the American people. What will the republicans say when the President's plan succeeds? Unfortunately I don't think they are capable of acknowledging true leadership, after all, these are the people that supported George W. who got us into this mess.
Quit playing politics, admit your mistakes and think of America first.


Mr. Britt   March 4th, 2009 6:22 am ET

parker--WELL SAID 🙂


Joe S.   March 4th, 2009 12:18 pm ET

Are you kidding? Do you think he was serious about protecting America? Protecting us from a guy hiding in a cave? Would you have appointed a horse auctioneer and campaign contributor for this job? Bush gets entirely too much credit for another hijacked plane or a guy with a bomb in his shoe not attacking us again. What did he do for our ports, train stations, borders? Think about it. Are you afraid of an army parachuting in and taking over New York, Boston, Miami, Los Angeles? Of course not. So let's go get Saddam and his weapons of mass destruction. That will give us something to do and be cheap, right?


Joe S.   March 4th, 2009 1:07 pm ET

I am downsizing, cutting back on all spending, only purchasing necessities, not eating at restaurants, not using credit cards, selling off extras, paying off what I can and looking for a new line of work. This is already the worst time I have experienced in the construction industry and I don't see a recovery in the near future. I believe our President is doing what he can but this is a huge problem he has inherited and will take time to fix.


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