cnbc will be following all of these developments for the rest of the day and guys, this is going to be big to the end of the day, big into tomorrow. listen to jay carney. >> removed and that the continuing harm that these two situations have caused to our economy can stop. >> the president has said from the beginning he would not negotiate on this. now that it looks like there is a deal, do you feel like he fulfilled that pledge? >> what the president made clear was his position that he would not allow a situation to develop where he paid ransom to any party in congress that was trying to extract unilateral political concessions in return for congress fulfilling its fundamental responsibilities. and he believes that's the right position for him to take, that it was the right position, it is the right position and the right

position for presidents of the future to take because our economy is extremely dependent on the faith and credit that is invested in it by investors around the world. in other words, there is a real even if intangible value to the safeness of investing in the united states. as we've discussed many times over the past days and weeks, threatening that, you know, does real harm and obviously default would have even -- would cause even more harm. we've already seen -- there is already a price that has been paid as we saw in october -- i mean in 2011 and we've seen again now in the various ways that the flirtation with crossing that line and flirting with default has brought about

cups quencompanieses. he feels it's the right position to take and applauds the leaders of the senate for coming together and working out a bipartisan solution. >> is there any concern even with this deal being made that a downgrade from some of the credit rating agencies can still be pending? >> well, i would refer you to tr treasuries for those assess mpts. we focus on the things we can control which is calling on congress to quickly act on this compromise agreement and ensure that the government reopens and that the threat of default is removed. >> and lastly, this is leading to additional budget talks later this year. once those talks are under way will the white house and president insist that revenue continue to be on the table? >> the president has insisted that in these budget negotiations he's been calling for all year, everything has to be on the table.

and that will be his position going forward. what he believes is a fair approach to resolving our budget challenges is reflected in the budget he submitted. he knows even though that was a compromise proposition and reflected the offer he made to speaker boehner at the end of last year that he will not get in budget negotiation everything he wants and neither will democrats and neither will republicans and that's the nature of compromise. but he firmly believes that balance when it comes to further reducing our deficits and building on the work that has been done over the past four years in which we have reduced our deficits and -- by half, we need to continue to take a balanced approach so that no sector of society unfairly has to bear the brunt of that project. that's always been his position and it will be his position

moving forward. >> yes. >> thanks, jay. can you give us a little color on how the president was informed of the deal, who told him, what his reaction was? >> no. >> none? >> right now, brianna, i think we're looking to capitol hill for action to be taken. the president as you know has been in contact with leaders in congress, as have members of his team and we are encouraged by the progress that we've seen and i hope that it is fulfilled through votes in both the senate and house. >> can you give us any more about how he was involved in the process? >> as i've said, he's been, as you know, he's had meetings with leaders of congress, he's had phone calls with leaders of congress. he invited all members of both houses to the white house and it is also the case that we don't inform you of every phone call that he makes. either do members of congress or to others. so he's been engaged in this

process. his team has been engaged in this process. ultimately our position has been consistent and clear and therefore not that complicated to communicate either to you or the public or to congress. we have simply urged all sides to, you know, put down sort of -- or put aside the efforts to achieve partisan advantage and leverage and instead to move forward with an agreement that opens the government and raises the debt ceiling so that the threat of default does not hang over us at the time -- at this time. >> the president said yesterday basically once this whole mess was resolved, he said once that's done, the day after, i'm going to be pushing to say call a vote on immigration reform. does he really think a recipe for success on im migration reform, one divisive issue is to deal with it right after another

divisive issue? >> the president believes one of the consequences of these manufactured crises is that time is taken away from the pursuit of other goals that we have as a nation and that includes economic goals that go to the heart of his agenda to build a better -- building a better bargain for the middle class. >> all right. that is white house press secretary jay carney summing up where we stand right now. and the senate says it has a deal to avoid default and reopen the government. but not forever. it would reopen the government until january 15th, increase the borrowing limit until february 7th. plenty of political opra this week and as the saying goes it ain't over until the fat lady sings. the house and senate need to vote. now to john harwood on the hill. >> tyler, as quickly as you can imagine the people in washington

have moved from crisis mode to self-congratulation victory lap mode. and that's what you heard from jay carney, what you heard from members of the democratic and republican parties in the senate now that they have a deal. this is going to pass the senate first. house leadership aides told me they expect the senate will act first, house republican caucus will meet at 3:00 p.m. to discuss a way forward with their members but there's no longer any doubt leadership aides tell me this will pass the house as well. they hope to vote later today. so what that means is, that this can pass both chambers, reopening the government through december 15th, creating a long-term budget negotiation during that interim time, lifting the debt ceiling to february 7th, that is going to pass the congress and go to the president some time today before midnight. that deadline that the treasury had set october 17th for when we had the potential for breaching the debt limit, tyler.

>> john harwood, thank you very much. down to simon and bob pisani at the new york stock exchange. >> yep. >> for some quick market reaction to what's been going on. >> you'll know tyler, people coming in now, we had our reaction before 10:00 a.m. eastern when bob costa tweeted this deal was in the offing. we shot up 200 points, give or take on the dow and that's basically where we've stuck through. we've given a little ground but in the magnitude of things, bob pisani, we're ten points away from the record high on the s&p. >> yes. and about 400 points on the dow. it is interesting and we're near the highs but we did have a little bit of sell on the news as that deal was confirmed. people speculating, of course, about buying into the market it goes up and there are some who would sell on the news. we did see that. take a look at other things. volatility has collapsed here. the vix almost 19 yesterday. we're at 15 today. that's a multimonth low. maybe a three-week low for the vix. see that just collapsing there. i want to note interest rates

moved down, the ten-year moved down. helped interest rate sensitive groups like lennar all moved up. no sell-off in the home building group. that moved up quickly. gold, simon, had a nice rally. i talked to gold traders, we're back to basics, less tapering now, we'll see perhaps some inflationary issues emerging potentially down the road on some of the debt deals. finally look at the major sectors all of them are up. notice industrials not contributing much. some of the big multiindustrial names are on the downside. >> finally we'll get data and know what the economy is doing and have our taper tool. >> it will be interesting to know what happened on the jobs report last month because i'm not sure they collected the data at all. i'm not sure they made the phone calls. what are you going to do, call them and say do you remember if you had a job four weeks ago. >> market flash with dominic chu. >> talk about aerospace and defense here we're talking about boeing soaring to an all-time high. the stock got really floating near the session highs riding

the wave of optimism over a debt deal in washington. despite the latest incident, though, involving a 787 dreamliner plane, this plane operated by air india had a bottom panel of the jet fall off during a landing in bang glor, air india and boeing said there were no risks to passengers. back over to you. >> thank you very much. let's check where we are at the nasdaq site with seema mody. >> clearly a lot of optimism on the street. we're looking at the nasdaq as well as the nasdaq 100 hitting new highs. in terms of the different sectors feeling the nasdaq. let's start with large cap tech. that sector on the whole posting gains. you're looking at yahoo! intel, both of which kicked off tech earnings last night on the move. semiconductor stocks that sell their chips to the technology companies are outperforming the tech heavy nasdaq and given the focus on the debt ceiling, what's interesting is that john at oppenheimer said investors are become more cognizant to the debt companies carry. out of all the companies on the s&p 500 that are debt less 50%

are in the technology space. technology has the lowest debt to total asset ratio. experts say that could be a catalyst for the tech sector in the coming months. lastly another bright spot for the nasdaq. biotech. in comeback mode. looking at reagain ron shares leading the index to new highs. >> all right. seema, thank you very much. joining us from capitol hill is representative james langeford of oklahoma, republican policy chair. thank you very much for taking time out and joining us today. you've heard the latest from john harwood. you probably know more even than we do. i gather your caucus is going to meet at roughly mid afternoon, 3:00 or thereabouts, what do you expect to happen there and do you expect that this senate hammered out deal will pass the house of representatives? >> i would expect it would pass. obviously looks like the senate is going first on it.

preppal will come over to the house. there are folks that have seen some of the preliminary things they like on it. there is a little bit of buzz happening here. people that like some of it and then we'll get a chance to see all the final details. should be voted on by this evening. >> do you suspect a majority of republican members will vote in favor? >> we don't know yet because we haven't seen all the details. we've seen rough outlines. but there's a lot of paperwork. we want to read it and go through it real quick. >> i read something you wrote yesterday i believe in the oklahoman and i want to quote from it if you don't mind and get your reaction here. you said, as our nation faces another debt ceiling debate it's the perfect moment to determine how we stop piling up so much debt. >> right. >> america has $17 trillion in debt and over $71 trillion in obligations that we cannot pay. debt of that size will not solve itself. the temporary crisis of a government shutdown pales in

comparison to the long-term debt crisis we face if we do not change course. i think an awful lot of americans would agree with that statement. the details of how we solve that debt crisis is obviously where the political collision occurs. i wonder how you feel right now today, in light of that statement, with the idea that so much of this discussion that we've had over the past few weeks, has not really been about our nation's debt and that fiscal challenge that we face, but it's been about such things as obama care and other, my word, extraneous issues. is that a distraction here and have we really missed a moment that you seem to think is at hand to truly address the fundamental problem that the country faces? >> we have missed a moment. a lot of the debate ended up being around whether members of congress would be in or out of obama care when we have trillions of dollars of debt and deficit. two deadlines that came down

dealing with the continuing resolution or the end of the fiscal year september 30 to october 1st, that was really to deal with the affordable care act and then the debt ceiling coming up deals with the long-term big issues. we are nibbling around the edges at this point when debt continues to climb. we go back to some of the rating agencies, fitch two years ago, didn't downgrade us because of our negotiations around the debt ceiling that we looked like we were taking things seriously and starting to bring things down. the president talks about we've cut our deficits in half during his presidency. that was done during a debt ceiling debate two years ago. during this one, that debate did not occur. we have missed a moment. we've got to find times when we look at how much debt is piled up to slow down and talk it and say how do we talk about the growth of the spending we have. that didn't occur thisti >> congressman, it was clear when we saw harry reid talking in a sober way about the new budget conference committee that now meets that he's trying to say look, what we're offering the gop, but what is the

atmosphere like within the house gop at the moment? because from the outside, it looks like you went in, you took the pain on behalf of the party well, see it in the polls, by shutting the government down for two weeks. and yet you haven't really from the outside it appears come away with a big prize. i mean, what do you think of the tack it ticks and does speaker boehner keep his job? >> i think he does keep his job. i don't think that's at risk at this point. we're navigating through difficult waters. the people in our districts are telling us they have been taken from full time to part time, small businesses that actually called me this week and said they have 17 people in their small business, they've just been notified by their insurance carrier the type of insurance they have is no longer available. they're on the exchange and extremely frustrated. issues that are happening in real life situations now that affordable care act is rolling out and people are calling us and saying make this stop. at the same time, we're trying to deal with the funding of the government and so we do have two

conflicting voices. some saying i'm so excited i can get this coverage at the same time flooded with people saying there are real problems here. part of what we're trying to do is raise the flag to the president who said there are issues to say when will we deal with those. >> as any of us who have tried to sign up knows it has not been easy to do so. you give us, congressman, a perfect segway to john tucker the ceo and founder of laser plus imaging an l.a. based company that provides office supplies to dozens of federal agencies and i want to bring mr. tucker into the conversation, which you teed up so perfectly, you, mr. tucker, have been hurt by this. your workers have been hurt by the government shutdown. what would you like to say to or ask the congressman? >> well, thank you for having me, tyler. yes, hi, congressman, thank you for the opportunity. >> hi. >> it's been a struggle for us. we have a lot of people out of work and struggling to feed their families and the concern

for me, congressman is, is the stop gap measure, hopefully the government does reopen for business, but i can't help but feel it's like putting a band-aid on an amputation. what is -- what has the lawmakers of our country done to instill any confidence in us, the american people, to say that you're going to get done in the next eight weeks, what you haven't been able it to accomplish since 2009 and that's to actually put forth a budget, a long-term plan, to move the country forward, and keep us working? that's our major concern right now because it's difficult for us to plan a business in eight-week intervals. >> i totally agree. let me make a statement to you. being an oklahoma representative i can tell you we've got a lot of companies moving from california to oklahoma. we call it the reverse grapes of wrathp. if you want to come to oklahoma the economy is doing great there. you're right. we need to get a chance to get a

long-term perspective. a lot of what we're pushing is uphill to restart a process that is stopped. this is the first year in three years the house and senate have passed a budget. now we're actually having major debate about getting to a conference to actually work out the differences to settle that and then we still have to do appropriations bills. the house has done four appropriation bills the senate has done zero. this is the basic mechanics of an economy. until those get restarted ap long-term planning no one can plan on that and that is a real problem we have. we're trying to take the baby steps. >> mr. tucker, tell me, bring us up to date on where you are with respect to your furloughed workers, and how quickly you could bring them back to work if the government opens soon? >> we're hopeful that this deal gets passed and the government

does open for business again and we will bring our people back. there's a lot of uncertainty for us because we're not sure how this is all going to play out when the government does reopen. i mean we could have our clients and our customers come in and buy on a feeding frenzy to stock up on office supplies in the event we're in the same position we're in eight weeks from now or had they could hold on to their money for dear life and spend it on only mission critical essential expenditures. we're not sure. there's a lot of uncertainty. we really believe for us and for the nation, we need a long-term plan to keep this country moving forward and allow us to get back to work and get our people back to work. >> mr. tucker, thank you very much for being with us. congressman, let me ask you one final quick question. how quickly will the government reopen? >> yeah. let me make one quick comment on that as well on what john's statement was. when you have $17 trillion in debt this is the result of it. we have all these constant fights over money. like a married couple that has gone deep into debt, they fight

about money all the time. that's where we are as a nation right now. this will not get resolved with one big as i hear people talk about, if we did a grand bargain and solve it. we've moved from car loan to jumbo mortgage. as far as how quick we can get the government back open, senate votes today, the house votes and the president signs it could start limping back in by tomorrow. things can it turned around quickly on that. matter of getting everything signed and done. >> thank you very much. congressman langford if the congressman thing doesn't work for you, i have a job in fm country radio. you have a good voice. >> only if i introduce them and not sing with them. >> set you up with blake shelton, a fellow oklahoman. >> thank you very much, tyler. we'll keep you abreast of what's happening with the shutdown. the votes, the debt ceiling three ring circus as it is. will there be a deal? who will stand in the way, if anyone, at this stage. this isn't over yet as that clock keeps ticking.

if we pass the deadline housing could crater as interest rates spike and the job market evaporated.

we're heading higher again. markets in rally mood. whole foods trading at all-time highs at levels not seen since the ipo in january 1992. dollar tree and ana darko and

mckessen, trading at all-time highs with the dow up 180 points. >> thank you very much. back to the drama in d.c. the top ceos in the land sounding off on how the shutdown is hurting their companies and their voice or voices are getting louder. mary tomson has been doing digging with more. >> the shutdown and the specter of a debt default impacting business ands the broader economy. fram federal express ceo fred smith telling "squawk box" business is backing up for the package delivery firm. >> we have tens of thousands of shipments held right now that we can't deliver to the u.s. government and a lot of the vendors shipping to the government are now -- have ceased, so on the margin there has been an affect. >> the affect on tool maker stanley black and decker and linear technology lowered profit forecasts for the quarter, both

citing customer uncertainty linked to washington shenanigans as a reason for those foreforeca foreforecasts. blackrock ceo larry fink saying the naretive in washington is hurting business leaders' confidence keeping them from making new investments and this will harm the economy and we will lead to lower growth. fink saying if the debt ceiling is lifted soon, the damage is already done. pnc ceo echoing those sentiments predicting the slowdown to economic activity tied to washington while u.s. bank corp said nervous investors are moving more money into cash and the influx of the new deposits will hurt the bank's net interest margin this quarter. seeing a similar situation saying its balance sheet is up $10 billion since quarter end, as investors have been seeking a safe place to put their money. >> interesting what larry fink said, all of this drama or dysfunction if you choose to use that word is a tax on growth. it is a weight. >> it has. a lot of people will say this has been basically happening for the last year and why you

haven't seen a lot of capital ininvestment and ceos doing more buybacks because they feel that's a better way to use their cash at a time when they don't want to make or risk new investments. >> we can get certainty into the planning and stop lurching from one deadline to the next think of the growth that might be unleashed. >> even if the pathway isn't a pathway that you like knowing what it is allows you to make plans. >> thank you very much. simon, down to you. >> president john f. kennedy credited with saying washington is a city of southern efficiency and northern charm. perhaps congress proving that true over the last few weeks. when we come back, one of the twitter's founders on what silicon valley and the business leaders of the future think of the sorry state of affairs in d.c. the american dream is of a better future,

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cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. gold prices closing right now and bullien finding buyers below 1300. we're up 890 on the session. still broadly, tyler, at three month lows. to the bond market. rick santelli is tracking the action at the cme. >> tyler, excuse me, i'm sorry, simon, we've had a lot of auctions today, one month bill, one-year bill, we've had 189 day cash management bill. fresh funds in. if you look at the coupon curve it's fascinating. two-day chart of the three year,

short maturity. we're dipping below, we're moving into low yield territory. the longer out the curve you go, the less of that you see as you see on a two-day ten-year. the ten-year now reverting back into the 260s where it spent about ten days of settling between 260 and 266 even though it did move up a bit close to 2.75. the dollar index having a decent day. one should suspect it would considering the direction of the other markets considering equities. year to date chart jumps out how long we've been bumping along an important support level in the form of 80 on the dixie. back to you. >> all right. thank you very much, rick. failing to the top. how this attractive woman went from a simple idea to billions of dollars. her amazing story in her own words. as we head out, stocks getting spanked, that's a hint n today's

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all right. as twitter gets set to ipo at the nyse, those are acronyms one of the company's co-founders taking his own power lunches from a winning bidder from charity buzz.com to raise funds for schools on the west coast. joins us for a "power lunch" exclusive. mr. stone, you're on the phone. welcome back. it's good to not see you again, but hear you. i know you're limited in what you can say about the twitter ipo for a variety of reg naer to and personal reasons, but what do you expect to get out of it? how excited are you as one of the company's founders? >> well, first, thanks for inviting me to "power lunch." i feel honored. how do i feel about it? what do i expect to get out of it? you know, it's a very weird feeling because even though it's been five, six, seven years now, it seems like it's only been

that number of months. i mean, everything's gone by so quickl know, my hope for the company has always been the same and will remain the same and that's just that -- that the technology fades away and that -- and if twitter is to be perceived as a triumph, it's to be perceived of as a triumph of humanity not technology and that means it's really all about what people manage to do with the technology that makes the most difference in the world, whether it's, you know, whether it's spontaneously arranging charitable giving campaigns or, you know, trying to overthrow an oppressive regime or just organizing a party with friends. i mean any of these things and more, as long as the technology just fades away so that's not the star of the show, it's the humanity part that's the star

that's what i want to get across and hope people end up really feeling. >> i just want to make sure that audience understands you haven't had a formal role at twitter since a couple years ago, 2011. you have no role there now. am i correct in assuming you still have some stock in the company or has that been sold or not? >> oh, yeah. i definitely still have stock. >> you definitely still have stock. when it goes ipo you presumably will reap some of the benefits of that. >> if things go well. who knows. >> of course. let's know. >> maybe i'll end up owing money. >> you could. i don't know about that though. let's move on from where you sit, as part of the social media generation, as you watch what has been unfolding in washington, you must have some impressions of that. i read an op-ed this morning by tom friedman in the times in which he talks about the fact that it feels to him and to many that people who have been raised on social media are notably quiet about politics and about

washington, unlike the young generation of the '60s when i grew up. do you have any reaction to what's been going on in washington and to that observation by friedman? >> well, i mean, this hits me personally just because -- and i may be in a weird position, but as a person who has been building these large-scale systems that allow hundreds of millions of people around the world to express themselves and communicate, i'm always very careful to make sure that everyone knows that the technology aspect is neutral and that, you know, there's no particular government or agency anywhere that has any kind of decision making capability over the leadership of the company that runs the technology. i'm always very careful to stay neutral and to stay out of the sort of thing and to keep any kind of opinion to myself. i don't want to give that kind of impression, you know. >> you are part nonetheless of -- there's a generational

thing going on here. you know that the unemployment rates for people who are in their early 20s are still incredibly high in this country. your generation is the first generation that is actually going to be probably -- maybe not you, but is going to be poorer than its parents were. there is a feeling even from the baby boomers that the country is going back in many respects. you were the guys ultimately and you hear people say, maybe help us, silicon valley, maybe you will be the answer to where this nation is going. you must have a view on your generation, the direction of the country, and the degree to which technology can save us or not save us. because not everybody can be a tech start-up. >> i absolutely do. and it actually, it comes back to this, you know, this charity buzz lunch that i had with the winner, you know, the winner who won lunch with me by donating money to communities and schools to help these at

risk high school kids get through high school, i think that the answer lies in this generation's sort of automatic connection with empathy and i think that's -- this is something that tools, social media tools, is helping to bring out. what i mean is, the idea that you can, you know, look down at a stream of tweets or facebook updates or instagram photos and you can see pictures from your friends, you can see tweets from your friends, you can also see tweets from people in middle east who are currently, you know, engaged in riots or protests and you can have this sudden feeling of being in someone else's shoes and the feeling that you're not just a citizen of a particular state or a country, but a citizen of the world. i think that the younger generation is becoming more

aware of sort of the meaningfulness of things and the idea that there are other people and -- around the world and that they need help and there's more and more young people these days, i see it and i try to encourage it, to go out and volunteer and to do something to try to help early because there's a compound impact in ultraism. the earlier you get started helping other people the more impact you have over time and there's a side benefit to doing this. you talk about unemployment and you go out and volunteer and that's networking. you're working alongside of people who do have jobs who may be ceos, who may be vice presidents at, you know, at companies like twitter and then you do go into a job interview and when the question, what are you doing now, it's not i'm unemployed and looking for work, it's i'm volunteering and

looking for steady. >> that's an interesting point. the earlier you start getting involved in charity work and things like that, the greater is the compound. i hope you'll come back soon, biz. i want to share my one rule about twitter, not to look at twitter after i've had a cocktail in the evening. >> i totally agree with that. >> thank you very much. we'll see you next time, we appreciate it. >> to the blonde, we're going to call her the blonde who failed her way into billions. it was an amazingly fun and candid interview on "squawk box" this morning. robert frank, a man who needs to spanx is here with the details. >> she, of course, sara blakely is the youngest self-made billionaire woman in america the inventor of spanx. on squawk incredible interview she said one secret to her success is failing. let's take a listen. >> my dad actually encouraged my broertsz and me to fail. and so we would come home and sit at the dinner table and my

dad would say, sara, what have you failed at this week and if i didn't have an answer he would be disappointed. i can vividly remember saying dad i tried out for this and i was horrible and he would high five me and say way to gop president gift he was giving me was that for me, failure is not trying versus the outcome. so it's really allowed me to be much freer in trying things and spreading my wings in life. >> this wasn't an easy things. i think your background someone selling fax machines door to door you heard no a lot. >> and someone who grew up wanting to be a lawyer but bombed the lsat twice and ended up at disney world and tried out to be goofy but you have to be 58 fwch and i'm only 5'6" they wanted me to be a chipmunk i was not on a very good trajectory. i think i always say what you don't know can become your greatest asset if you will let it, if you have the confidence to say i'm going to do it anyway. even though i haven't been

taught or somebody hasn't shown me the way. >> and tyler, one of the funniest failures she describes she was in london promoting spanx and she got her big media opportunity. let's take a look at what happened. >> i also got an opportunity to be on the bbc. which was a huge opportunity for me to explain my product to england. so the gentleman interviewing me starts out and goes sara, tell us what spanx can do for women in the uk. and i took a big pause and i said, well, it's all about the fannie. it smooths your fannie, lifts and separates your fannie and this man lost all of the color in his face and i had no idea but apparently fannie means va gin na in england. >> that i did not know. >> there you go. so you can imagine my international expansion is off to a great start. >> a word you don't hear often on "squawk box" and a woman that you don't see in the u.s. but she is such an inspiration,

amazing interview. >> what a story she is and her two points about if you haven't failed you haven't tried. the other thing is you learn more from your nonsuccesses. >> and how i made your millions show, you and i see that with the wealthy all the time. they always say the secret is failing a lot until you make it. >> your program on the lifestyles or the secret lives. >> secret lives. >> super rich, a new episode, super rich tonight on cnbc. what do you got. >> the season finale. saved some of the best for last. $54 million beach house in malibu called villa contenta. the poolhouse to the queen of the vampires in true blood. check it out. >> this is a little beach house. >> oh, my god. i have to tell you, i saw bruce willis' malibu beach house and it would fit in the garage.

this is what you call a trophy beach house. it has 13 bedrooms, 14 bathrooms, and as far as pools, not one, not two, but three pools overlooking the pacific ocean. >> this is so grand and over the top, nothing normal about this place. >> i thought i would give dolly and i a head start on a potential buyer we're working with together. >> do you think this house is a good fit? >> as a weekend entertainment house, yes but we need something slicker for during the week. >> this little stretch of sand is known as billionaire's beach. these people don't just have their second home in malibu, it's their third, fourth or fifth home. don't miss the season finale at 9:00 p.m. eastern. >> i will be home in my spanx watching. >> dominic chu. >> if you're investing in banks you might be feeling some relief in terms of what's going on with

the market. more money, the banks, the financials are the single best performing sector in the s&p 500 and the big names, jpmorgan, bank of america, citi doing great on the day. simon, back over to you. >> turning out to be the show that has everything. ahead on the show the future of retirement in this country. sobering new data that will make you stop in your tracks. next. ♪

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to be this awesome. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. (aaron) purrrfect. (vo) meee-ow, business pro. meee-ow. go national. go like a pro. welcome back to "power lunch." i'm john harwood in washington. it appears we have averted a potential debt default. the senate has reached a bipartisan deal to extend government funding through january 15th. raise the debt limit to february 7th. they expect to vote on it this evening and a leadership aide tells me between 5:00 and 8:00 p.m. house expected to pass it thereafter and then to the president which is what he has been waiting for for some time. back to you. >> thank you very much, john. big day. a glimpse into the future of retirement an associated press study finds that by 2030, 72

million americans will be 65 or older. much sooner than that in about six years a quarter of workers will be 55 or older. that means aging americans are the fastest growing segment of the work force because they're living longer. as we live longer many need to work longer to make ends meet if they want a full retirement. as we say in manhattan no rest for the wicked. chief executives over the country have a huge stake of what happens in d.c. the ceo of waste management on what he would do to clean up the mess is on deck. his stock up some 28% this year. more before the break, before the break, more "power lunch" in two minutes.

tax reform in the united states. we need to tackle international trade. hopefully the leadership that has shown on solving this issue, will then be turned to solving other big issues. >> you sound as though you might have sympathy with the tea party republicans who simply said, we've had enough and actually brought the thing to a standstill. you have sympathy with that i assume? >> well, i got to tell you, from the position we stand in, we've got to learn how to solves these problems in a more efficient manner, right? i run a company of 50,000 people and if we start solving problems the way we're solving problems right now we're going to have a big mess on our hands.

wherever you stand on the issues, we need to find a better way to resolve those issues than going to the edge every time. >> what you do have, sir, you have people very angry and don't have the respect traditionally politicians have had for the institutions, be that commerce, financial markets, the business community at the same time the business round table who because it's so partisan, seem unwilling to intervene like they might have done in the past. do you think we're getting a breakdown between business and politics and therefore the ability of the economy to produce wealth and affluence and lift people up? >> no, i don't think there's a breakdown between business and politics. i think business people understand that politics is about compromise and, you know, we need to make sure that we're able to, you know, to talk about the issues, but we need to realize you can't be dog mattic about the issues on either side of the aisle, that you have to find some common ground and you

have to find ways to compromise. look, again, i run a big company but i don't run my company by saying this is the way it's going to be and no one gets to talk about it. we run our company through compromise. i think we need to do a better job in the united states government of running the political process through compromise. >> mr. steiner, good to meet you. thank you for your time. look forward to having you on the network when you come through with your results at the end of the results. the ceo of waste management. a huge market day clearly. the dow up 186 points. the nasdaq and russell all surging. more "power" in two. december 1, the wright brothers became the first in flight. [ goodall ] i think the most amazing thing is how like us these chimpanzees are. [ laughing ] [ woman ] can you hear me? and you hear your voice? oh, it's exciting! [ man ] touchdown confirmed. we're safe on mars. [ cheers and applause ] ♪ hi.

[ baby fussing ] ♪

welcome back to "power lunch." if you suffer high cholesterol

his story is for you. shares are at sessionhighs. a drug being developed by it is producing promising results. patients who use the medication saw ldl or bad cholesterol levels cut in half. they hope to have an approval for this drug by the year 2015. back over to you. >> thank you very much. we are moments away from the breaking news on the health of the u.s. economy. the so-called beige book. this is where we stand on the markets at the moment. we have surged since we had that tweet just before 10:00 a.m. easterns this morning that a deal would be done on the senate and slowly working our way through that process. not least, of course, tyler with senator ted cruz saying he won't filibuster in the senate when we get to that stage. >> congressman lankford this hour saying he did expect the bill, whatever its form, will pass the house, whether it will be have a majority of republican support is anybody's guess. >> ultimately could be signed off by the president tonight

which for debt ceiling worriers is a great thing. >> "street signs" will begin after this quick break. it's a growing trend in business: do more with less with less energy. hp is helping ups do just that. soon, the world's most intelligent servers, designed by hp, will give ups over twice the performance, using forty percent less energy. multiply that across over a thousand locations, and they'll provide the same benefit to the environment as over 60,000 trees. that's a trend we can all get behind.

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agreement to exit tend borrowing authority and reopen the federal government. a live look at the senate floor where final passage could come tonight. >> the markets are happy, dow up by triple digits, was up by 200 points and the s&p a stone's throw away from cracking its record high all over again. to steve liesman with the beige book. >> yes. mandy the federal reserve's gauge of all the anecdotes on the districts finding that the economy expands at a modest to moderate pace. there are affects of the debate over the debt ceiling and shutdown. growth slowed in four of the 12 di districts and the debt debate along with the affordable care act. consumer and business spending and payrolls did grow in many districts. res kengsal real estate did improve. auto sales were strong and manufacturing expanded modestly led by aerospace and autos. retailers remained optimistic about the holiday shopping season and employment growth was