• The Money Hole (TUNE IN THIS SUNDAY @8PM and 11PM on the FOX NEWS CHANNEL)

      Fox News gave me an hour for another special.

      I titled it after this cute Onion clip: "Should The Government Stop Dumping Money Into A Giant Hole?"

      We will soon spend ourselves into oblivion. But finally... movement! Budget slashing proposals from Paul Ryan, the Republican Study Committee, Ron Paul, Rand Paul and even Tim Pawlenty! But politicians and real people across the spectrum still resist change. What should government do? What's its role? What have other countries done? The Money Hole tackles that.

      In 2003, an auditor cautioned Prichard, Alabama that the town would run out of money by 2009. Did politicians sell city assets and cut corners? Nope. Six years later, exactly as predicted, Prichard ran out of money and stopped sending checks to retired city workers-many of whom had contributed to their pensions for decades. I'll confront that city's lawyer.

      And what does government spend our money on? Defense and entitltments. Medicare mostly. That's what will bankrupt us. But we also spend on laundry folding robots, blowing up Mississippi beaver dams, cowboy poetry festivals, and blackberries for smokers. In my ritzy New York City neighborhood people, politicians give out free bike helmets. It's as if the politicians get drunk on your money.

      Is there another way? I talk to a governor who slashed government... Luis Fortuño of Puerto Rico. Two years ago, Puerto Rico's budget woes were worse than any US state and Puerto Rico almost filed for bankruptcy. But then Fortuño fired 17,000 government employees, cut the others' pay, cut taxes, and privatized agencies. The result? Businesses are moving to Puerto Rico.

      Even Canada - the country of government-run health care - has fixed its debt crisis. In 1995, Moody's put the Canadian federal debt on a credit watch. And the Canadian dollar was called the "peso of the North" because it was worth 72 cents to the American dollar... but today their dollar is worth MORE than the American dollar, and their unemployment rate is lower than America's. How did they keep their country from going off the cliff? Their liberal government slashed spending.

      Slashing spending is a good thing.

      Tune in this SUNDAY at 8 PM and 11 PM to find out how our country might find a way out of THE MONEY HOLE.

  • This Week's Show -- July 10, 2014

    MEDIA BIAS: When I began my career as a consumer reporter, I had an obvious agenda: Businesses cheat consumers! Government must regulate them! But when I wised up about the problems with government, my bosses resisted, and I stopped receiving Emmy Awards. Emmys reward liberal reporting.

    CENSORSHIP AT CBS: Investigative reporter Sharyl Attkisson has a similar story. She explains why she left CBS after it became "harder and harder to get stories on television" that criticized this government and "any powers that be."

    IS STOSSEL BIASED?: Years ago, journalist Howard Kurtz criticized me for not being objective. I said it's impossible for any journalist to be completely objective. Now that Howard Kurtz is on Fox, we debate again.

    THE OBJECTIVITY MYTH: Andrew Kirell of Mediaite.com says, "every journalist has a point of view and they don't just magically check it the minute they walk in the newsroom door."

    NEW MEDIA: Reason TV's Remy Munasifi uses music videos and parodies to complain about things like politicians' spending. One of his latest parodies highlights the scandal surrounding the VA hospitals. Munasifi discusses his videos, which have gone viral on YouTube.

    RETRO REPORT: It's great there's a new media organization called Retro Report, which reveals media hype of the past ("crack babies," America's landfill "crisis," the "superpredator," etc.) and corrects stories everyone in the media got wrong. I discuss the new show with its executive producer, Kyra Darnton.

    REAL OR FAKE?: Sometimes people in the media say things that are so bizarre, you'd think they were made up. Kennedy of The Independents quizzes FoxBusiness.com's Kate Rogers, Fox Business host Charles Payne and me to see if any of us can tell which quotes are real, and which were made up by my staff.

    MY TAKE: I used to report on lots of scares. CBS even ran an ad for me where someone called me a "guardian angel."

    That's bunk. The only guardian angel is a free and open society. That's what allows innovation, gives people longer lives, and lifts billions out of poverty. But these gradual improvements aren't newsworthy. Scares and disaster make the news.

    News is broken not just because we're biased but because most good and important news happens slowly.

    9PM ET on Fox Business Network