oft, attrition, food -- all these things causing diseases like diabetes, if we star showing people that we are going rather than a lot of thehat will processed food people are eating, this diabetes epidemic is a ticking time bomb for the health-care system. my point is if we start showing ways we are going to reduce within the costs affordable care act and move in the direction and wellness. we need to ask the wealthiest among us to pay.

to whom much is given, much is required. billions of dollars spent within the united states navy. guarding the sea lanes that that -- so that we can have the shipments of products around the globe. health care for seniors in the poorest among us. all of these things are things we do collectively. we can ask for more, but at the same time we need to also show a reform agenda that would transform our society in the direction of more health and wellness and investments in the middle class. >> a headline, contingency plan. this point,ake amending a one trillion dollar platinum coring.

president obama has two options if there is no increase in the borrowing permit. can respect the debt limit law or ignore it. you said you are cautiously optimistic or will be at that limit deal. 14th amendment. then i think he would ask emergency powers to stabilize the situation. we would be in a freefall. our economy would end up going into a freefall. credit would be locked up. this would have a dramatic effect on the economy, and also the national security. would destabilize the globe and put american power in a really bad position. i would encourage at that point for the president to have the ability to utilize the 14th amendment. line, to resethe in manchester. caller: good morning.

i wanted to talk about the tea party a little bit. we wanted to respect our light -- rights as keep all to be able every pennyout ai we make out of taxes. they act like the congressmen are evil. respect that that is our will also. the same with democrats and republicans. this health care thing will bankrupt us. us poor people cannot afford to buy groceries and gas.

you want to add more taxes on hearing aids and all of this know wheredo not they think they can keep pulling this money out of people. giving usnies are not raises anymore. we are living day to day. guest: as i said in the beginning, they have every right in the world to hold the positions that they have. they were a left it. member of the united states. they have every right to do

that. saying you are supporting the constitution when the fact of the matter is many of these folks are thumbing their nose at the constitution because the constitution set up a process, a legislative process on how to govern the country. they are basically taking that process, the funding of the government, addressing our debts as a nation, past expenditures. this was all in trying to. came out of the united states constitution. i think the behavior of the tea party is thumbing their nose at the constitution of the united states and the very process that was set up in order to govern ourselves. a lot of tea party folks talk about freedom and liberty. i would say the freedom to be healthy. how free are you if you are sick? have ae are you if you

young child that has cancer and you hit your lifetime limit on your insurance policy on six months to a year in cannot get health care for your child. how free are you. there are treatments out there for you that could make you better. you are not free, not free at all. that means to have access to affordable health care. we're not saying everyone should have old plated health care but access to preventative measures, and the affordable care act is paid for. we did ask others to pay more in taxes. it is paid for. the congressional budget office says we will save a trillion dollars in the budget. you cannot address the long-term deficit without addressing

health care costs. that means the health insurance program. the affordable care act does that. getting everyone in the 10th so they do not show up in the emergency room much sicker than they would have been, costing everyone more money because they could not fall the $10,000 prescriptiona $20 if they had preventative care. that is how we address the deficit. the affordable care act will do that. the congressional budget office said it was going to do that. -- entitysan at city did not taken the health and wellness act. we will have a few hiccups as we go through implementation of the system. we were against the war in iraq.

the bottom line, democrats and the minority leader went out and took it to them people in 2003, 4 and five. 2000 61 house and senate back. we tried to warn -- unwind the war in iraq then. to wind down the war in iraq. we went through the political process. we have got to get back to the regular order. have our fight, disagreements, set up affordable care act. set it up if it is so bad, it will fail. the republicans will win the senate back in 2014. they will win it back in 2014 and then you can delay it or defund it, whatever you want,

but go through the political process. i respect very much your opinions and ability to keep them in a free republic, but you have to work it through the political process, and that is not it has happened and now we have hostagetaking. senator john mccain tweets -- arguet op-ed the writers the budget drama roles onto the arctic the ball and dreary and with both sides split over increasingly small differences. how small is the gulf between republicans and democrats at? i think they are as small between the senate and democrat republicans and many of the house republicans, that there is a group in the house we are very far from.

basically what that editorial is saying, cut our losses. we should never have went down this road. republican andhe then walked away. things like that. for folks watching at home, this is not tim riney and democrat, karl rove, john mccain -- all of these major republican figures that up to this point were considered tea party activists as well, and they are the ones saying it. they are pretty isolated in the system. host: next color on the line for democrats. caller. a question.ve

i was not good at math in high school, but if we do not take on more of the debt, why is the world will go into more debt? why has look -- some law not been passed as to what doctors and hospitals can pay? first we were held hostage by the banking industry. we will be held hostage by the banking industry. why don't we send all the representatives, senators, back to her home state and tell them, go back to your home state, clean up your act, find out where the fraud is an do it like your job depends on it. because it does. let get let go, they will lose everything. there is a thing -- think all technology, web towns. let them do it that way. do not let them go to washington

and take away all their perks. i think part of the problem is members of congress are not together enough. i hesitate to say that because we have been together so much in the past few weeks. and greaten here stretches and puts strain on therees to be here, but more relationships between the democrats and republicans. more time together, not apart. ground onmmon building relationships that are very necessary. that theionship o'neill, had with tip those were personal relationships and you had your fights during the day and at night you could be socializing and dinner together.

wouldately i think that be a good thing. works in the private sector. host: another call from jesse and south carolina. good morning. thank you for taking my call. my concern is we talk about the economy and not bouncing back. with everything going up, going , with everything we consume and buy, let's lower the prices. people will spend more money and the economy will turn itself around. we can get our own jobs back. i went to walmart a couple of weeks ago. back in 2008 i went to walmart and spent 100 dollars on groceries. now i go to walmart a couple of bought $38nd 5 --

and cost me $91. what is wrong with that? that is greed. a gallon of milk costs more than a call and -- gallon of gas. we pay about $3.05 for gas right now. it is crazy. host: congressman, go ahead. guest: we cannot really fiddle with that part of the market. that is supply and demand and that is reflect did in the stores we shop and. that is reflected or supply versus comedy people want to go

and buy it. i think we have to knock off the rough edges of the free market like in the instance of health care or the food and drug administration. we have to regulate the banking industry. i think the most important thing we can do is pass a john -- jobs program in the united states. airports come making investments into the united states where we are going to hire people that work and construction trades that have unnecessarily high unemployment rate, put those folks back to work, doing projects that need to be done, the projects in this -- projects will only get more expensive over time. we will get a force of supplier. put people back to work. hide it companies will hire these folks. project -- public projects will get done even if we have to borrow money.

own money have to our at low interest rates. the money will go up and they will become taxpayers. we have been trying to do it fed monetary policy. we need the school policies to make those investments. a lot of people are going to scream about the deficit him about when you are in this problem in the short term, we investments those to jumpstart ourselves out of it. we're going to be doing projects that need to get done anyway. thank you for joining us. next up, we will hear from the reaction on wall street from maria bartiromo. meetings on iran's nuclear program are continuing in geneva where an iranian official says that could allow unintended exits to the nuclear site as a

last step in a proposal to resolve differences with the west. lowering uranium enrichment levels could be part of the final deal. arld powers are holding second and final day of talks. the eu expressing cautious optimism about the talks. the first since he took office. police say a terminal at the miami airport has been closed down and evacuated after bomb sniffing dog detected something on a pallet. the miami-dade police spokesman says terminal j was evacuated at 7:00 and all planes diverted away from the terminal. the bomb squad is on the scene. of standard & poor's tells cbs this morning that a default would be " much worse than lehman brothers. global financial crisis. meanwhile, steve king speaking

on cnn earlier says he is not worried about this thing they term default because we are going to service our debt. he went on to say in his words the president's remarks will scare the market, adding he is concerned about the possibility that the u.s. credit rating could be downgraded him up but said the credit rating was downgraded asked to -- after we raise the debt ceiling. student cam video competition asked what is the most important question congress inld -- should consider 2014? be sure to include c-span video. the competition is open to all middle and high school students for the grand prize of 5000

dollars. this year we have doubled the number of winners in total prizes. entries are due by january 20 am a 2014. we bring public affairs events from washington directly to you, putting you in the room at congressional hearings, white house events, briefings and conferences and offering complete gavel-to-gavel coverage of the u.s. house as a public service of private industry created 34 years ago and funded by your late goal cap up -- satellite provider. "washington journal" continues. we want to start off by taking -- talking about the big headline for resulting the budget impasse and debt ceiling

is october 17 on that tomorrow. but what does it actually mean? a great question because there is a lot of misinformation out there. tomorrow is the date the jack lew said the government will run out of money and unable to pay its bills. tech oakley speaking the deadlines are a lot later than that. -- for example, an interest payment due october 31. on november 1 the government has non-debt obligations hear it in another words, social security checks, government employee salaries. is november 1. the bigger interest payment is november 15. that is more than $30 billion in interest payments. even though tomorrow is the deadline many people are talking about, we have more wiggle room beyond tomorrow and really is the end of the month, october 31

with the five point $9 billion payment. november first with the nondebt obligations. bigger one, november 15. very few people expecting this to go past november 1, really threatening the important -- important debt payment on november 14. nextis the layout for the couple of weeks. hearing that treasury secretary saying the u.s. government is running out of our row -- money tomorrow should be enough to get them to make a plan so we are not dealing in the 11th hour on october 31st or november 1 or november 15. so not the chaos some people are suggesting it there is not a deal made today? guest: that is right. the chaos has to do with the markets. let's say the perception is the u.s. is running out of money

tomorrow. there is a perception. that is what people are expecting. the markets have a disruption, location. this stock selloff and bond prices plunge. interest rates soar and that makes everything more expensive. that obviously shake confidence. that will unnerve a lot of people and get a lot of all afraid. you will see interest rates move higher. interest rates across-the-board move higher. mortgages, home loans, car loans, interest rates. so if we see a market disruption tomorrow, that is a different story. not the chaos you suggested, given the fact that the deadlines are farther out. having said that, it is chaos in

the markets. that will impact people's the hague year and is a vicious circle. if i am afraid because the market is plunging and what that means maybe i will not buy big ticket items. companies will sit on cash, and it is a vicious circle. none of this is good, even though tomorrow is not the chaotic dates so many people have been talking about. in briefly tosten what jack lew had to say. time we areame relying on investors from all over the world to continue to hold u.s. bonds. roll overk -- weekly 100 billion. if u.s. bondholders decided they want to be repaid rather than continue to roll over investments, we could dissipate the entire cash balance. let me be clear, trying to time at debt limit increase to the last minute could be very dangerous. if congress does not act in the united date cannot suddenly pay

the bills, the repercussions would be dangerous. raising the debt limit is congress responsibility because congress and congress alone is empowered to set the maximum amount the government is required to meet financial obligations. that is absolutely right, we should not wait until the pay hour to make plans to our obligations. it is silly and getting goofy that the -- that the two sides cannot come together on an agreement on how to manage the debt and how to spend money in an appropriate manner. i would make is the rollover. the treasury rolls over $100 billion every thursday. the rollover happens because investors want the paper. they want to buy u.s. paper.

if we start seeing investors say i am afraid the u.s. is not going to pay when the notes come due, then we are in a real hold. theill have to come up with money at the auctions are not working. i think it is important to mention the rollover debt. that is certainly a big torsion of the story and do not hear a lot about it. writing in " the washington post" today -- explain that for people and what it could mean for the global markets.

as i was saying, fitch came out to say they were reviewing the u.s. aaa credit rating and reviewing it with a negative watch. in another words, the next move would be a downgrade of u.s. debt. the issue there is when we see a downgrade, we will see interest rates move higher. confidence in the u.s. ability to pay obligations and pay debt. if we were to see a downgrade, i think that would create a market disruption. that is what we saw last time during the 2008 crisis. again, it is about triggering the markets and the markets dictating behavior. the actual debt payments not coming due until the end of the month. really november 15 is an

important date. although paying social security checks and government workers is high importance. if we were to see the market perceives something that france and perceived it is going down about road and were not , because right now if you look at the markets we have had some down days but has not been such a stunning reaction. even though you had a couple days where the markets have been lower, it is really not so significant. really fractional losses when you consider the fact that we have had a fantastic year in terms of equities and in terms of where bond yields are some enabling so many people to borrow and conduct transactions. so far we are not seen a real negative reaction. what that is telling you is the markets are betting on a deal. the markets are expecting congress and the president to

agree to a deal in terms of extending the debt ceiling. anything other than that would be a huge surprise. if we were to see a huge surprise, it would be a negative surprise and the markets would selloff. if that were to happen, yields gold spike, stocks would down and would create a real moment of fear in the markets put a standstill attitude on people and corporations that you have to hoard cash, said on cash. do not want to spend money, invest, create jobs. wants that, because as we know, two thirds of the economic growth is consumer activity. that would probably tip us into recession. we want to take your calls.

i want to get your take really quickly on how this is impacting the asian markets. we are seeing -- we are seeing some declines in asia. put they after fitch u.s. rating on negative watch, wered appear the markets indicating a lower open today. that never happened actually. things turned around fairly quickly. having said that, the nervousness of yesterday set the tone for asia. we did see declines in asia. i would not worry too much about it, but as i mentioned, if we were to see the market change the perception, that we were going to face a default, we were extend beyond october

17 into november, then i would say the markets would react very negatively and we could see a real dislocation in the market. nobody wants to see that. i think that is why the market is betting that will not happen, even though there are fractional declines that are not that significant. taking your calls. on the line for republicans. i watch you every single day on cnbc. elizabetho be husband. i am a day trader. i tried about 5000 times per year. can you tell me the big andreign wealth funds companies like goldman sachs are not sending through the

atorithmic computer models least 100 points. that is nothing. if the market was fearful like you are saying -- the market could be down 500 points, people do not have control of the algorithmic these computer model set up by the hedge funds. i was able to figure them out buy exactlyd i go what the big boys do. well, i think what you are saying is right. the markets are not expecting we see a default. the markets are trading pretty well in the face of all of this, even though we have seen a couple of days of downward

rusher. what you're talking about is electronic trading. the large institutions have set this up. why would you not hedge your bet ? why would you not have a backup plan? i understand algorithms are very and probably seconds before other players in the market on the and these computer models are set up for any scenario. fast andll see a furious move if we were to see the government default on its debt. no doubt about it. nott now the markets are expecting that based on what we are seeing.

host: markets are beginning to open up. s&p of of 1700. do you feel there is a disconnect between what we see from washington and what wall street will happen. i think at some point there will obviously happen in the 11th hour, we will see a deal materialize. for the one reason that both sides will be under pressure, november 1, as we approach the

end of october, both sides will be under pressure to pay the social security benefits, government workers. they are not going to allow that to happen. i do not think we will see a default. people are looking at the market and saying as soon as the deal comes out the market will rally. i do not believe all of this fighting is damaging the reputation of america. it is damaging the reputation of the country's leadership and credibility, and that is a long- term chip away kind of story. around theple say world i do not want to invest in america because of what is happening today? maybe not, because the corporate

sector is doing well. an enormous amount of cash on balance sheets and companies right now are among the healthiest in the world. the problem is they are sitting on the cash and not investing in it because they are afraid of what is around the corner. it is more prudent to sit on cash and have the wiggle room. over the long term if we have a reputation of having the and ability to get anything done, that leads to a reputation of failed leadership. the u.s. is really still the leader. i did not believe investors are saying i am giving up on america. still a very attractive in place to invest and i think that will be the case. as we chip away at the

reputation, there is a price to say for that. over the long term that may very well be a situation where people say america is ok but i also like investing in latin america, one to put money in brazil and mexico, japan, which is getting its own financial house in order as we speak. in china. i think it is very important to recognize there is a price to pay for the chipping away of the reputation and leadership of this country. host: another call from randy. caller: you once said the main street wall street likes to thing -- likes to see us call ms.. that being the case, how can the public have called ms. when wall street does not seem to mind fluctuating oil prices like a seismic graph on an earthquake? walle supposed to show

street columnist, but they never show us the same. thank you. thank you, randy. guest: i think you have two different types of investors. the long-term investor in the short term day trader. the long-term investors should exhibit,. they should be looking at 5, 10, 40 years in terms of having money in the market. if you really want to look 30 years from today or if you are looking even 10 years on the 15 years from today, you have to believe a most attractive place investing creation is in equities. yes, you have to have a diversified portfolio, but investing in equities over the long term has always proven to be a wealth creating mechanism. you are investing in american companies that have exposure all over the world that are growing

earnings, revenue, and creating jobs. that is the long-term story of investing and the smart story for the long-term investor. i think in that regard you have to ignore all of the noise and there is a lot of noise around all day long but you have to longe the noise over the term and ask your self, has anything changed with the companies that have invested in this? has anything changed in the industry i'm putting my money in? has anything changed in terms of the attractiveness of the u.s. economy over the long-term, not short-term? that is how you invest long-term and how you need to stay calm eerie at the short-term investor is trading. trading massively, very quick. at 9:00 and selling it at 9:30. is the short term trader.

the short-term trader has a role in the market. there are short-term traders. back in the 1990s a lot more short-term traders. some of the date traders have gone away. they do not have to show calm. i think you have to decide who you are. if you are a long-term investor or day trader. i am not a day trader. i would not get into that business because it seems to me it is very risky. you have to know what you were doing. if you are a long-term investor, i think it is prudent to stay calm him and know we are living longer. the demographic show your children may very well live to 100 years old. you really want to have the money you need to have it to my office.

>> good morning, maria. i would like to say the problem is the immigration bill. as a republican i do believe immigration would bring about a trillion dollars of revenue into the system over 10 years. i think the republican party of new, not the republican party i grew up in has to get over the arguments over the problems of immigration and look at prosperity. did you have a question about the financial markets today? caller: i believe it is a great buying opportunity. said this morning he would definitely buy into the market because it is definitely

going to come back as soon as everything is fixed. host: next caller from tennessee on the line for democrats. caller: thank you for taking my call. as time caller but longtime viewer. i have a simple question. the house knows every year of budget has to be passed. every years like they get to the 11th hour before

things are reached. i am retired. i am on social security disability and i'm actually scared. i am scared that my benefits .ill be interrupted pleas i think they can use common sense as we do in our own household budget would be the better ideal weight for the house and senate to do this. >> you are absolutely right. mother whoith a always saved, saved and did not spend beyond her means. these are very basic things we all know. we all follow in our own lives. unfortunately, we have not had a past budget for five years. five years.

withoutbeen operating an official budget. it makes no sense. as a result of that, that is where we find ourselves today. if we had a budget for the past five years, perhaps we would not be in this pickle. i agree with you that we need to get our financial house in order. unfortunately we are doing so at a time that we need to make decisions about raising the debt ceiling. not necessarily the time to be planning our budgetary moves. we should have had a budget in place for the past five years and have not. here we are facing an important deadline and making these decisions in a rash way, which as anybody who runs a household or runs a business knows, that is not the way to plan your finances. you can look at government and say this does not apply to me, but that is not right or true. how to budget.

most of us know we cannot go on in our lives with just spending willy-nilly and not know what we are changing or spending and how much money is coming in and going out and using blunt objects to say do not spend their. what i am referring to is the sequester. in other words, for the past five years the failure of not passing the budget is leading us to where we are today. i do think that has a lot to do with why we have been unable to agree on a budget for the past five years. should the average person be concerned about the investment portfolio and 401(k)s? investment portfolios and 401(k)s so far have performed well. over the long term i suspend -- suspect they will perform very well. you cannot treat your 401(k) or your 401(k)- trade

or investment portfolio if you are an investor. that means depending on your age will pick take on much you want in equities and fixed income, real estate, alternatives, commodities. there are very many asset classes that have exposure. term not worry about long- portfolios because i am a long- term thinker. i think at some point we will get an agreement in washington and things will stabilize. the corporate sector right now doing very well. i think it is 3 trillion in cash on balance sheet. earnings have largely been ok. earnings are coming down a bit. growing ors been slow- waiting to see real revenue growth and that indicates and market demand. the mostid that, for

part, companies today are doing well. they have learned lessons from the 2008 collapse. they have laid off workers. they have cut spending, really improved balance sheets. a much better position today than in any time in the past. regulation has been incredibly expensive. that has created some flies in the ointment, but for the most part companies are doing very well. is invested in american company so i am not worried about it. seeainly we very well may investment in stocks if we do not see a deal done in washington. many people would see that as a dip in the mentality. i would not be surprised to see a big market selloff at some point if we do not get a deal

agreed upon in washington and as we get a deal towards the end of the month. because i am thinking long-term and i would not worry about the selloff. host: continuing our conversation with maria barna tiroma. i was calling because all of this discussion about raising the debt ceiling centers around, and even you are seeing the talk about default. moody's published this publicly the other day that because you do not increase the debt ceiling does not mean the united states would default on its debt. to pay plenty of money the debt. what it may do is cause the united states to prioritize our expenditures. the interesting thing i am

hearing from you and heard it creeping in yesterday that the scare tactic is the deadline is thursday. we have to get it done by thursday. now maybe it is november. people know increasing the debt ceiling does not you have -- does that mean you have to stop paying your bills. then you have the treasury secretary. do not know if it was last sunday or the sunday before. the united states stating statesy that the united would not or prioritize payments. i wish you would comment on that. i would like your comments that

this will not cause a default. i think it is clear to many people what the payment are. we do have a deadline on october 17 because jack lew put that date out there. debt payment is a due. there is a small and manageable one. you are right, that is not the main date. that is when non-debt obligations are due. then november 15 when the 30 plus billion dollars in debt payments are due. we are here. a couple of weeks away. i do not know that it is very healthy to be living life on the edge. to be living life where there is $30 billion left.

this is america. in the country is critical to ensure further more investment in the country. so many large holders of our paper in bonds around the world. the real point is we are getting there. it is time to come together. we need to look at this calmly. emotion in their and not trigger bad behavior by viewers or anyone else watching. having said that, the time is now. it is time.

i think the american people are so frustrated with the fact that our leaders cannot agree on anything. maybe it is just time or both parts of government to the replaced. to get people in there. time to bring people together to lead and come to solutions. is bad to be emotional and scream. are in the clear we we have to come to an agreement now to government -- covering the country. we have to ensure all of us are prospering. greg on the line for democrats.

caller: thank you for taking my call. since my biggest question is we are the people that elect people to congress, i think it is a shame that we are the people cannot vote them out if they cannot do a job. this is the second government closed down i can remember. i go to a job and tell them to clean the bathrooms and say i will not do that, they will fire me. i think they need to do the same thing. have anell, you will opportunity in 2014 to vote some numbers out. that is what our country is all

about. you will have your opportunity. on the line for independence. caller: hello. i have a question, why don't they cut spending 20%. i do not see what the problem is with that. i love it. you have to get a job in washington. you are right. some of these questions and head scratchers for me you have to say what is the problem. if we know they are expensive

country in terms of health care, how come we don't cut it here unfortunately this is something called politics. politics do not want on their watch. he is the guy who cuts my social security benefits. and politics nobody wants to be cut youro contact -- benefits. that is what the problem is. you are absolutely right. we have been talking about tax reform forever. no one wants to say i cut taxes on you and raise taxes on you and now you will not build me back in and you will not vote me back in because i cut your social security benefits. what did you just hit on is

probably the single biggest issue. we have so-called leaders in washington politicking, not leading. what we really need right now is leadership. we need someone to take the lead to say this is unsustainable. this has been in place for decades and decades and realize you have been enjoying this, but unfortunately this country cannot afford it anymore so we have to reform the program, change the program. no one wants to do it. they are afraid because they are not leading, they are politicking. before 10:00e bit on the east coast. keeping an eye on the markets. dow jones up 140 eight points. what does that tell us the? that tells us investors are betting on a deal. they are betting the two sides come together today and avoid the october 17 deadline.

it tells us earnings are coming in better than expect that. and earnings are pleased america remains the best house in a tough neighborhood in terms of the globe. at the end of the day there are very few alternatives to investing in american companies that are growing earnings, growing revenue and rising cash levels providing for great wiggle worm. mostly it tells us because there is one day before the debt ceiling tomorrow that investors are betting on a deal, betting that something good happens today. we will see. host: terry on the line for republicans. caller: hi, maria. is a scenario followed by a question. it needs adults to sign up and pay to offset the over expenses.

my question is this, expect and 20-35-year-old healthy people two k moore with a high deductible policy when pre- existing conditions do not matter, why would any young person signed up for that plan? why would they not do what i think they are going to do, wait until they get sick and sign up? get the premium plan, the lowest deductible and go from there? when that happens, which i think it will when you look at all government programs, ready much everyone knows on disability that dirty-40% are fraudulent claims. so when these start gaming the system like that, which it is going to happen, are the rest of the taxpayers going to have to support obamacare? what will that due to the debt ceiling at that time?

think you very much. will pay forers it. i believe it is the law, you have to have health insurance. that is one of the fights going on in congress right now. republicans would like to put forcesdate that individuals to sign up, they would like to put that off for a year or two years the way the mandate has been put off for companies. do democrats are saying we not want any change to obamacare and will not operate with a gun to our heads. this is the fight right now. i do believe at this point it is the law and individuals will have to sign up for it. paying or not you end up for it is a question. i think taxpayers ultimately will carry the burden of this.

i think janet yellen has been the vice chairman of the fed and has worked with ben bernanke for many years. it will likely be a it will likely be a continuation of what we have seen out of chairman bernanke. that means the stimulus continues. some people were expecting tapering last month, and we did not get tapering because the fed felt the economy was not ready. the big frustration is the lack of fiscal policy. like it is on its back to stimulate the economy. because you do not see things like tax reform, corporate taxes , yesterday, iso

spoke with the database -- dallas federal reserve president, richard fisher, who would like to tapering to begin. he continues to say it is not fair that it is all on the federal reserve. we have seen in absence of monetary policy. that is where we are. i think janet yellen will continue the policies of ben bernanke. i think she is a person that brings people together. she has been talked about as being someone who listens and it is not her way or the highway. that was one of the criticisms of larry summers i like the fact that she is a local girl that has done good. i think she is accomplished. host: unfortunate, we will leave it there.