kobe's 6-6205. imus: don't have time to get into the tale of the tape here, warner. [laughter] and here is another one of dagen's five favorite songs. ♪ ♪ just out of rehab, 28 days clean ♪ ♪ genuine, certified ♪ ♪ when we thought he put that drug in his past ♪ ♪ he walked down and boy done relapsed ♪ ♪ it i just had to laugh, knocked off that horse, you get back on again ♪ ♪ just the way it is and the way it's always been ♪ ♪ no more to the story, yeah,

just got again ♪ ♪ knocked off that horse, get back on again ♪ ♪ imus, imus, imus in the morning ♪ ♪ >> less money in your wallet? a record amount spent on food stamps and spending, three big numbers that tell the stewart. good morning, stuart is going to be back tomorrow, today here is the big story. 200 billion dollars, how much spending power the fiscal cliff bill takes out of our pockets accord to go goldman sachs. the combination of payroll tax cuts exspiring and higher rates on the wealthy hitting the economy hard. the second number, 80.4 billion, now, that's a record amount of your money the feds spent on food stamps in the last fiscal

year and the final number, that's zero. that's how much in spending cuts president obama and democrats are willing to give in the next round of debt talks. but wait, there's more. cash for clunkers, the grand plan to get the auto industry on track. it's not only bad for the economy, but hurt the environment as well. "varney & company" is about to begin. karen anjeremiah. they don't know it yet, but they' gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade.

>> good morning, "varney & company," viewers. today is monday, january 7th and gerard depardieu, well, he's welcomed to russia with open arms and here, we're going to welcome with you open arms, with sandra smith and on the floor of the new york stock exchange, of course, nicole petallides. hey, you remember the cash for clunkers, that 2009 government program that gave people money, a the lot of money to buy more fuel efficient cars if they traded in the old gas guzzlers, as it turns out the program was actually bad, i'm saying bad for the environment. those engines from the gas guzzlers had to be shredded

instead of recycled and the process was not very green. sandra, can you say you're surprised for this. >> it forced people to turn in cars in some cases had perfectly good engines and perfectly good running cars and charles, this goes to every story we've seen the government try to intervene and push something that actually isn't needed in this country. cash for clunkers, it turns out, was horribly bad for the economy, because these cars were never recycled in the first place. charles: and we should let the audience know. the way it works, when you rehe cycle, there's a residue, a sludge that's a result and in this case, they think it equals 24 million barrels of oil. and imagine if we had an oil tanker that crashed and 24 million barrels of oil leaked out. what kind after story it would be. this would be headline stuff. add to this, sandra the fact that used car prices have gone up since 2007, 33% and you've got tepeople sitting out there,

can't buy a used car and now they've got to buy a $30,000 new car. >> 100% of most vehicles are recycleable and in this case they were trashed and now it's more expensive just a buy a used car. >> listen, a lot more on the story with the judge, it's going to be good in the next hour. and just a few minutes, former reagan economics advisor, art laffer is going to join the company. nearly every working american paying more in taxes and still, democrats refuse to cut spending. we get his take at the opening bell. and grover norquist, tax reform is going to be here and senator mitch mcconnell drew the line on the debt ceiling, are the republicans ready to take a stand on debt? this is the first full week of trading of 2013 and the opening bell is next. [ male announcer ] where do you turn for legal matters?

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your financial advisor should focus on your long-term goals, not their short-term agenda. [ male announcer ] join the nearly 7 million investors who think like you do. face time and think time make a difference. at edward jones, it's how we make sense investing. >> well, we're 30 seconds away from the opening bell. remember last week, the market came out with gang busters, just with a lot of gusto and people were saying aalot of that doesn't count. everyone is back and everyone is attending and nervous. what are they nervous about? the fiscal cliff thing might have been the opening part of this saga. maybe a lot of things to go. we know the debt ceiling is up

for play, sequestration, continuing resolutions up for play. and earnings season is going to start as well. the market is going to open with anxiety and side ways movement. [bell ringing] i can hear the opening bell and the stock market is open for trading. let's go to the big board. relatively unchanged as i said. okay, more people now are listening to internet radio service pandora we know and seeing a big jump in listeners, so, nicole, what is that doing for the stock? >> well, the stock is not really moving significantly wee. we're seeing that down right now, but they did see their december listening hours was up 54%. the share of total u.s. radio listening, that was also higher. that was higher to 7% up from 4.7%, all their numbers are higher. the stock lower. so, they're really not

correlating this morning, but this is good news, i mean, obviously, it's better to have all their numbers growing than pulling back. >> i guess so, i guess if you name your company pandora, you might be braced for problems here and there. you have to wonder what they have to do to get the stock moving and you're following yahoo! as well and i think it's downgraded? >> yeah, and just one thought on pandora at the end. yahoo! downgraded to a market perform from an outperform over at bernstein this morning. you're seeing the stock down 2.3%, it's had a nice run, up almost 30% the last 52-week. now to my point on pandora, right, so yahoo! is up almost 20 weeks and pandora, 4%, didn't really participate in the rally and run and they're having listeners, that's a good sign. charles: the interesting thing, wall street is so young low at the new ceo over at yahoo! and nothing changed and pandora is putting up good numbers and tells you why the market can be

frustrating for a lot of people. thanks a lot. congress averted the fiscal cliff by letting the payroll tax cut expire and agreeing to tax hikes on higher income americans, but according to goldman sachs' chief u.s. economy costs the u.s. 200 billion in spending with no spending cuts in sight and speaker boehner is quoted as saying president obama admitted during closed door negotiations the president said, quote, we don't have a spending problem in this country. joining us is art laffer, former advisor to president reagan. it's almost hard to know where to start with this, but let's start with the notion, if the democrats sincerely believe there's no spending problem in this country, this is going to make any sort of resolution that much more difficult. >> yeah, i don't think it's all the democrats by any means, charles. it's clearly president obama, that's clearly true. and steve moore's piece was excellent.

it went through a lot of logic and i'm a huge fan of boehner, i think that speaker boehner is really great and did a good job. he had no choice, but to let the upper rates go higher. that's the killer in this economy and now the democrats own it and have to live with it. charles: art, the killer, also, everyone watching the show got a check over the weekend and they saw their checks dinged and the payroll tax cuts expiring. i kind of thought that fell under the president's pledge not to tax the middle class. that's what he pledged. of all the taxes there are and all taxes are bad. but the payroll tax is the least bad of all the taxes we have. if you cut the payroll tax that will hurt the economy not help it. raising it where it should be is the correct thing to do and for economics as well my view of the world. cutting government spending is the real tax problem we have and payroll tax is not.

charles: where are we going? goldman sachs says this fiscal cliff deal will take 200 billion in disposable income out of the economy, 200 billion, that's the holiday season, that's the, you know. >> yeah, it is. charles: post black friday season. 200 billion, what kind of an impact. >> remember while you take 200 billion out of the economy with the payroll tax hike coming back up, but also do remember that you have 200 billion more in bonds available that can be used for capital investment, et cetera. remember, the world is double entry accounting. you can't bail someone out of trouble without putting someone else into trouble. the problem here is government spending and the way i like to explain it and i think it's clear is if you have two people in the world, that's it, only two people, farmer a and farmer b. if farmer b gets unemployment benefits, who do you think pays for them? farmer a. you know, just giving that person unemployment benefits doesn't stimulate the economy, it hurts the economy. lowering that payroll tax, i

believe, hurts the economy, raising it back up is what should be done. charles: okay, but what about the fact that the economy is going to be slower? we already have a very sluggish recovery. >> we have a horrible recovery. >> as it stands, where do we go from here, art? you know this better than anyone. what's the scenario? if democrats stick to their guns here and they don't, listen, and they don't do anything with respect to real honest to goodness spending cuts, where are we going to go? >> they're going to melt in the next year and a half, charles. you know, they're in a very untenable position. they tone this economy, the worst recovery ever. they've just pushed tax hikes on the people who make all the decisions which is really silly. the highest income earners not only pay the taxes themselves, they employ everyone else. why would they want to employ other people if they're the not going to be able to profit from it? so the silliest thing was raising tax rates from the highest income earners and the democrats forced that issue in place. and now they own this economy and frankly, i think it's going to perform poorly. jan is correct on that not

because the payroll tax, but because the highest income tax rates and capital tax rates and as we get down closer and closer to 2014, i think the democrats are going to be hammered because they made bad moves now. charles: of the three, hey, listen, and by the way, it's obvious they don't agree with you. they've got the media on their side and almost anything that goes wrong with this economy. >> charles, my side-- >> and the president has a teflon skin that seems to be working pretty well. of the three potential battle grounds for the republicans to take a stand now, debt ceiling, sequestration or the continuing resolution, which ones should they use as their sort of battlefield, the buck stops here. >> all three, all three. one thing they shouldn't do, shouldn't take a stand in stone and not allow negotiations to take place, they cannot appear to be obstructionist, but other than that, they can use these tools. charles: art, art, listen to what you're saying, you're saying use all three of the battle grounds and don't be obstructionist, they are going

to appear to be obstructionist, if they use any of them, let alone all three. >> if you use the debt ceiling and let it go through, it's a pretty nuclear bomb to be honest with you, it didn't work well with clinton, didn't work well with obama earlier, i mean, it's not a good tool to litt eerally hold on to, they'll get great concessions from democrats, all sorts of wonderful things, should do it. charles: i want to you stay right there. i want to bring thank you news alert and get your reaction to this. now, last year the u.s. government spent a record amount on food stamps, 80.4 billion dollars, increase of 2.7 billion dollars from 2011, total federal spending on food stamps now has increased every year since president obama has taken office. before i get to you. i want to bring in sandra on this. i mean, this is just it's no stopping. >> and that's as if the food stamp program, if you look at full, total government assistance when it comes to food in this country, over 100 billion dollars, spent in 2011.

charles, there's absolutely a necessary component to the food stamp program and only about 18 billion of these dollars were spent on child food care programs, and there seems to be constant abuse, you don't have to look far to find abuse, a woman tried to buy an ipad using food stamps and just looking at these numbers, journal of american medical association, a report attributing the high obesity rate in lower income areas to the food stamp program. >> i've seen that firsthand. art, i want to get back to you on this, this never ending, 80 billion, eventually 100 billion dollars. you talked about farmer a and farmer b, where does this work out in the equation. >> what you're doing here is the thing using food stamps, yes, these families are going to be treated like civilized human. let them have income supplements and choose what they do with their money. i have no problem with a negative income tax whatsoever, but when the government says you

have to spends on that, this, the other, all the specific programs and this paternalistic passion you're going to of course get things like this and they become political footballs. we should have a good negative income tax and let it go at that. charles: art laffer, we appreciate your wisdom this early in the morning. >> thank you, charles. charles: more developments on the national debate on gun control, two of the biggest hotels facing protests because they offered discounts to n.r.a. members and in connecticut pushed the publicly disclosed every handgun owner in that state. those stories and what the president said about gun control before he was president. all that new at 10. bank of america, well, they're paying 3.6 billion dollars cash to fannie mae as part of a settlement to resolve claims related to residents on mortgage loans, nicole, that's a lot of money, the bank of america shares. >> that's a lot of money, but it takes out the guesswork, and so we actually saw the stock hit ago new 52-week high and right now seems unchanged at the moment and as we know, paying

3.6 billion over to fannie mae and this is just all the claims for residential mortgage and they'll repurchase 6.75 billion dollars worth of residential mortgage loans that were sold to fannie mae. so, they'll be doing that as well. and right now, the stock at 12.08. back to you. charles: thanks, now i have seven early movers for you, let's start with harmon, an upgrade this morning at robert baird to outperform. the target 63, previous target 53. i love this stock. amazon rated in overweight at morgan stanley even though earnings estimates have gone down by the street. wall street definitely warming up to this stock. and walgreen's got an upgrade this morning also by robert baird to outperform rating, that stock up a little built this morning. nation star mortgage, oh, boy, they just bought, got bank of america's 215 billion dollar service mortgaging, took over my mortgage, sock is up. buy what you know, i miss add

good chance to help mortgage. and this is taken over, 7.75. huge percentage gain and some think that athena health should be taken over one day. and krispy kreme could be up for a target, and finally vivus, their new obesity drug, as a matter of fact, december orders up 67% from november orders. that's a huge move for that stock. the real estate market one of the bright spots in the economy. could 2013 be a breakout year for housing? after the break, we'll challenge the one who actually says yes. ♪ ♪

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>> all right, i suggested a different open, that lasted for a second. the dow jones industrial average getting whacked pretty good, down 64 points. well, our next guest says that 2013 is going to be the year of the real estate boom. with more and more foreigners buying, the american dream, a lot of people in america not into it. and we'll ask rapid realty. the basis for this assumption, i know that housing is better and feels like we hit terra firma. and the americans aren't buying

it. it seems more live flippers and speculators. >> the rental atmosphere sort of strengthened up the economy a lot. >> it would, so much more expensive to rent and space to buy and yet people aren't buying in droves, what's going to change that? >> well, i think there are more houses on the market, legitimately on the market. in 2007 and 2006, an influx on the market that wasn't legit. it's really a situation where there's more consumer confidence and the banks are really more forth coming on the lending instruments available to you today and on top of that, they're doing other things, offering more home buyers costs that are more expensive. charles: what's going to get people to say, all of a sudden someone is sitting on the fence. what do you think gets that spark going? what sparks this move? you're talking about a boom, a big year. >> serious sellers, i think that sellers that are entertaining below asking price offers, sometimes 10 and 20% below the asking price and they're getting them sold. >> i'm curious, what's your

measure that the housing market has bounced back? because do we really want to see prices return to those pre-housing bubble he feels? because those are artificial propped up. charles: i'd he like to see mine return there. >> what i'm noticing before it would take about three years before a person would shop and then eventually buy and now it's happening within six months to a year and all that have is what really kind of raises my eyebrow. >> we have to point out, this is your business, you're in, so, this is what we call talking your book to a certain degree. >> right. >> by the way, have you seen my man's watch, the rolex and the bezel and the pearl, business is already good for you, already moving. >> it's interesting, because we've moved from one location to 60 locations over the past 30 months and mainly because of our outlook on the recession. we grew during the boom and mainly because we're a rental lease company and booming-- >> and the fed made the suggestion maybe they'll take away buying and rates will start to climb. is there a sense of urgency, do

you think your industry would pass on to fence sitters, guys, make a move. i'm happy about what's happening although i don't see the boom. i don't see the boom that you see. is there something that the industry itself will do to convince people, jump in now? >> i think the deals are to be had now and i think eventually foreign investors, private equity they're snatching up the great deals. it's now or never. charles: now or never. >> i wonder if that makes for a healthy u.s. housing market when all of our buyers are international stepping in and buying our very cheap houses, with a very weak u.s. dollar? >> well, i just think that it's action oriented and i think that that momentum causes the economy to restimulate itself especially in the housing sector. charles: and anthony if we can get the housing market to it boom like the bling in your watch. by the way, the u.s. gold report. anthony has most of it on his

wrist. and gerard depardieu gets his russian passport over the weekend and why he's so happy to be a russian citizen. ♪ back in the u.s.s. r ♪ ♪

imus: > >> well, gerard depardieu is now a russian citizen, he said goodbye to france's taxes and hello. putin himself, dressed in traditional russian garb and celebrated his new life in russia. sandra you've been to russia. >> i have actually, it's a nice place, but i think that would be a major, a major give-up from france, but here is the bottom line. you're going to see more of this. this is guy who makes a lot of money and sees he's giving it to a government that wants to spread the wealth and what is always said about socialism, the problem with socialism, you run out of other peepople's money. and we could see this potentially in the united states, tax the rich and take what people make and put it in a government system and spread it around and the more people are

going to want to take their money and take their ball and go home. charles: people work hard. and answer the question, how much is too much. start at 100%, give up 90% of the money, 80%. the guy said last year, 85% of what he said. >> what did you see with russia, they opened their arms with welcome. and they welcomed him into the country, they welcomed his money, they welcomed his work. and it's the same thing here, on a very smaller scale when we started to see individual cities like the city of chicago taxing corporations more and more and more. what did the corporations do, they threatened to go somewhere else. charles: same thing california. >> to a city that would welcome them. charles: california, a million people left california and by the way point out that russia has a flat tax of just 13%, 13% versus 75%, pretty enticing. several new headlines on guns this morning from a protest of a hotel chain who supports n.r.a. to a state pushing to reveal the names of gun owners to live

there. those stories plus what the president said about the second amendment before he was president. that's all new at 10.

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we'll play president obama as second amendment before he was president. the story today, $200 billion out of our pockets thanks to the fiscal cliff deal, and no spending cuts in sight. first, though, the big board, and we are relatively flat, but fell quickly. dow off 67 points. here now is the company this morning, sandra smith joining here in studio, annie -- and nicole's on the floor of the new york stock exchange. how is apple doing this morning? >> watching apple, down over ten bucks today. not a great start at 516.45. barclay's cut it from 740 # to -- from 800. they had 20 billion in 2012, and downloads and purchases continue, but $700 for apple shares, not seeing it, not right

now. charles: last week, it was big, and everybody thought, hey, you know what? things are getting better. it's yo-yoking. >> that's true. the iphone6, talking about the fact they are producing parts for the iphone6, and there's apple tv, and there's still things in the pipeline, but it's frustrating for apple shareholders. you know, they have a win over -2 weeks, which is not 700 bucks. charles: over three years, four years, five years, may be spoiled. who is not spoiled is netflix shareholders. they are coming back a little bit. up this morning. what's going on? >> triple digits, hit $100.22, a gain of 4.5%. netflix on the move because they are now working with warner brothers, new licensing agreement there shows gain access to serial dramas from time warner brothers so that's

good news on the heels of a recent deal with disney. they are trying to just carry more for the customers. charles: what's interesting how wall street assumes that ultimately netflix will have all the competitors and will be irrelevant, but it could be true. assumptions could be true. could be three years away, and yet, it's a dark cloud or anvil holding stocks back. isn't that nuts sometimes? >> it sort of -- the whole thing, if you don't know until it happens, talking about this one and that one competing in streaming video service, but at the same time, sometimes, one company stands out. we've seen that in technology with apple; right? they really just sort of took over. you never know until you get the numbers and what's hot. charles: that's why stocks go all over the place. thanks a lot. we appreciate. republicans are starting to waffle on using a debt problem as the country heads for the

next battle on capitol hill. senator mitch mcconnell is not one of those republicans who is waffling. in fact, take a listen to this. >> four straight years of trillion dollar deficits and projected spending that no realistic amount of tax revenue could cover put us at a cross roads. we either tackle the nation's spending problem, or it's going to tackle us. it's that simple. charles: joining us a grover norquist. grover, a lot to talk about. i want to start first and foremost before what's next. revisit the fiscal cliff drama and the idea that a lot of people, and, #u kwr0 -- and, you know, i could be in the camp saying that was your waterloo, and maybe that's what people wanted, not just the democrats, but people like speaker boehner. >> well, actually, we supported

speaker boehner's efforts to save as much of the bush tax cuts as we can. we were in the upside down position. if nothing happened and had not passed legislation, there was a $500 billion tax increase on the american people. the fight was to see how much of the tax cuts we could get made permanent, and i was pleased, got 85% of the bush tax cuts made permanent for 99% of the american people. while, of course, what we wanted with the republicans in the house and the senate volted for it in the past was to make those tax cuts permanent for everybody. that was the goal. charles: right -- >> with president obama there, we couldn't do it. charles: grover, it doesn't feel the republicans are to your pledge. plan b fell, listen to what boehner had to say because this seems to have set the tone for future negotiations.

>> i don't think -- they were not taking that out on me. they were dealing with the perception that somebody might accuse them of raising taxes. charles: that smob -- somebody had to be grover. could be glass half full because a large percentage of bush tax cuttings were extended. however, now there's three separate battles. where do the republicans that still try to achieve your pledge make the stand? will it be the debt ceiling? will it be the continued resolution? will it be sequestering? >> all three. i mean, here's the good news. we were in a difficult position because taxes went up automatically if nothing happened. now it's a situation with the republicans having the leverage, not the democrats. if no bill is passed, sequestering happens, and $1.2 trillion in spending cuts take effect. we go to debt ceiling. unless we pass the bill, the government can't have more money

to spend. they got to agree to budget cuts as part of that and continued resolution. unless the house of representatives votes for continuing resolution for the budget to keep going, unless that happens, they are not going to be able to make additional payments, and so we have tremendous leverage to hold spending down. charles: disagree a thousand percent on the debt ceiling. i don't think republicans played the public relations game well, and if that goes over, they take 1,000% of the blame, and i don't think they have the stomach for that. it might be where they want to make a stand. what's the stand ultimately, no matter what course they use, what does the stand ultimately look like? what do they ask for? what do they get? >> boehner made the point we don't have to give the president's a year east worth of debt ceiling, but a month's worth. we can keep him on a short leash, and the continuing

resolution, that's shorter. what we did two years ago, 20 # 11, was to let the president have budgeting authoritying for two weeks. one month. each time, tract a commitment on spending restraint so those are both tools that are not all or nothing. charles: grover, what i don't get, the single digit approval rating, congress plays those kinds of games? >> two things. i give congress a single digit rating approval because the democratic senate has not passed a budget in three years. asking somebody what they think of congress is a stupid question because people are mad at congress for not spending more, and others for not spending less. what you have to find out is do you want taxes up or down? spending up or down? there the republicans are on strong ground, and the president is not. charles: president obama hinted he wants more ways of raising revenue. nancy pelosi was blunt about it yesterday on "face the nation" talking about raising more

revenue in any way. she used the word "agnostic" on how to get to it. what do you suspect will be the next gamet from the democratic side? where can they find more money if not for taxing the middle class in a unique way? >> no, they intend to tax the middle class with an energy tax, a carbon tax, an energy tax, a gasoline tax. they have been pushing this back to al gore and bill clinton. they always wanted to do this. it's a massive tax increase on the middle class. obama stands there and says it's not a tax on the middle class, but environmental thing. well, it'll be thousands of dollars, but it's not going to happen because the republicans in the house are committed to not raising taxes. your earlier comment was they were so much against tax increases they didn't want to vote for a measure their constituents might misunderstand to be a tax increase. our commitment against tax increases are stronger than ever. those people who jumped out and

said we might raise taxes in the future have been embarrassed. charles: preernght it. -- appreciate it. talk to you soon. >> my pleasure. charles: are we raising a generation of spoiled brats? that's the case. more college kids feel more than ever they are special, even though they have not done anything. we asked thoughts about this at 10:45. at ten, critics of the nra bashing two of the biggest hotel companies because they give discounts to nra members. they are going after best western and wyndam urging people to protest them. plus, lawmakers in connecticut are moving guards with legislation making public demands and addresses of 170,000 gun holders in the state. the public would make that fair game reversing a 20-year

decision by the state lawmakers to keep sitinformation confidential. after the shooting in connecticut, president obama, well, he promised new and strong action on gun control, but here's the president back in 2008 talking about guns in a campaign. take a listen. >> i believe in the second amendment. i believe in people's lawful right to bear arms. i will not take your shotgun away. i will not take your rifle away. i won't take your handgun away. charles: what are your thoughts? >> just another one of the instances where we have seen the president flip-flop on comments made either prior to the presidency or during his last four years, but, you know, this is a time when politicians will use, unfortunately, a very horrible circumstance to push their agenda, and this might be what his agenda originally was, to be campaigned otherwise. charles: can he argue he balled

on this, his favorite words, and we didn't read between the lines correctly? >> he has to do something because right now this is a very popular story. it's out there. it's in the press. it's in front of everybody right now. it's impacted everybody because everybody feels something about the issue right now, and it's something the president could move on. this is not an issue that a politician could easily evolve on, but one has to decide, are you going to stand up for the constitution or are you not? this was, obviously, being a big waiver on that. >> a lot of people were nervous before this newtown tragedy. , you -- you know, look at december, you know, the fbi data. it's a trend going on for a long time. we saw gun stocks go through the roof. a lot of americans not believing the president on this at all. never believed him. people, gun enthusiast, or those who believe the parts of the constitution the left wants to remove. >> the gun salessing and number

of people showing up at gun sales, americans obviously feel their rights are threatened as we stand today. that's why we see them buy guns, registering for guns, applying for guns because they feel rights could be taken from them. however, you know, this is the time to look at the statistics in the country showing that the states with the highest gun regulations have the highest amount of crime. you have to look at analyze statistics and find out what we have to do. what's at the core of the problem? charles: low hanging fruit politically depending on what deal they come up with. back to nicole. as a matter of fact, had seven early moves, but how's the stock now? >> check it out. what a day when you talk about obesity drug drugs, this is one that's hot, growing, and the stock up a dollar-41, a gain of over 10% just today alone. certainly, a nice run, and this is because the product, itself, the obesity drug, rose nearly

68% last month, ending december 21st. obviously, just comparatively, month over month, you've seen the obesity drug, the prescriptions being filled, and it's rocking. charles: yeah, i got to tell you. it's probably, i don't know, maybe better than the rivals, the data i read, the stocks moving today. thanks a lot, nicole. surprise, surprise, cash for clunkers program hurt the environment. that's the latest example of how big government doesn't work. don't believe me? the judge is next. she knows you like no one else. and you wouldn't have it any other way. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right.

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charles: morgan stanley, and the online retailer uses amazon wear housing, and that means lower shipping costs for amazon, and more money for its shareholders. the shares of amazon, on the screen, up almost nine bucks a share. people listened to pandora in december with 67.1 million listeners in december, up 41% from a year ago. pandora, though, shares flat. bank of america agrees to pay $3 #.6 billion to settle plans related to residential mortgages. coming up, cash for clunkers, was not good for the environment after all. you know what? another big government program that didn't work well. who said that?

oh, the judge. do you think he's surprised? well, he's next.

charles: the winners of the loll ri sharing more than $1 billion in prize money. top tickets paid $260,000 each, and in keeping with austerity measures, they pay 20% tax income. most of the economists expect spain's jobless to remain at 25%

or better for the rest of the year. remember the cash for clunkers program in 2009? the government gave people a lot of money to trade in those gas glues leers to buy more fuel efficient cars. the program was bad, not just for the economy, but the environment. the old clunkers were shredded rather than recycled, and the process was not green at all. all rise for andrew napiltano is here. you are not often the green expert -- >> thank youfully. charles: wear all your hats in one. that's what the cash for clunkers -- >> you, as i recall, led the charge that this did not make sense, would not enhance the environment or the economy or cause more cars to be bought or sold. it's the government big fat thumb on the scale of the free market, and whatever side they put the thumb on, buyer or the seller, it imbalances freedom of choice and freedom to spend your money as you want.

it's artificially altering the way people will allocate resources because the program's not going to exist forever. it's going to have a finite amount of money and a shelf life. charles: right. >> it doesn't work. it may make some people increase experience in wealth initially, but it wastes dollars and rarely achieves a social goal of cleaner air. charles: i don't know what the real goal is, although, maybe they wanted to find a way to get general motors, and get people -- if nobody buys cars, you know -- >> the stocks before they nationalize. charles. connect those dots. >> let the bondholders twist in the wind. charles: used cars, the cost for new cars since 2007, 33%, up $2,000, and that's new cars.

here i am. i have a dilemma. i'm overpage for the used car, but i can pay $30,000 for a new car. a would-be buyer is in an amazing dilemma to extend themselves financially on a new car they can't afford or overpay for a used car. >> well, by giving people -- by giving the dealers government money to buy something for more than what the dealers would pay for it, they obviously artificially change the price, and they removed from the market place these used cars for which there is a legitimate market. students, single moms, people who can barely afford to have cars at a given point in their life lost a tremendous opportunity here for what? indeference to the government saying, hey, we gave cash to stimulate the economy. it's another example -- >> what happens when you interfere with the free market. >> right. if you want to bring this to my end of the world of what happens when the government violates the constitution. picking losers and winners.

dishonoring the contracts clause. taxing people of things that don't advance the security are not articulated. >> did you argue it violated the constitution? >> oh, sure, you could argue it violated the constitution by the government entering the market place. the government -- well, technical violation would be it's a violation of equal protection basically saying similarly, people similarly situated must be treated in a similar manner. it can't just say you need a new car, we'll buy it for you. suppose i need a new house or clothes, the government can't do that under the constitution. it does it, few people challenge it. the courts don't want to hear the challenges, but, obviously, it was never contemplated. >> why don't people challenge it? it's a gambit to buy votes, but just because in -- >> the constitution was written in a way to make judicial challenges difficult so that the

judicial branch of the government would not be a second legislature by automatically reviewing everything the congress does so the only person to challenge cash for clunkers is someone harmed by it. the harm has to be unique to that person. taxpayers were harmed, but all were. you can't challenge the tax because it's too high. who could challenge this? somebody who didn't get enough money for their car? charles: certainly someone -- >> it would be the single mother of the college student who can't afford the used car now; right? >> you could, but the courts say that's too much of an economic argument. how do you know the car you wanted was destroyed in minnesota. sorry to pick on minnesota. charles: more with the judge coming up. the food stamp program costs taxpayers a record $80 billion last year. you won't believe where the plun was -- money was spent. it was not at the local grocery store.

more with the judge next.

>> it's really a situation where there's more consumer confidence, the banks are really more forthcoming on the lending instruments available to you today so, and on top of that, they are doing other thing like offering more home buyer courses that are more extensive. charm: anthony, a real estate

bull expecting to see a very good year in housing in 20113. now, remember to tune in every weekday morning at 9:20 sharp. time for the check of the big board. you know, market was hit early on in the session, and it's been around the same area, 55 to 65 in that zone, down to 58 at the moment. facebook continues to come back, a stealthy rally, huh? >> it's looking good. analysts upped the target on facebook, getting close to $30. you remember the ipo price of $38, but here it is now at $29.21, a gain of 1.5%. charles, you know, i just got on facebook recently about maybe three weeks ago. i know, i'm five years late, but i enjoy it. it's a lot of money, and, you know, it's interactive. enjoying all the comments from the viewers and friends, and i think it's a lot of fun. it's neat. charles: don't tell me tomorrow

you picked up music cassettes, but -- [laughter] i'm just riffing you a little bit. >> that's it. the friendship's over. charles: hey, listen, the sunshine band, can't beat it. talk to you later. all right, guys. [laughter] >> you are dating yourself. charles: i had the 8 tracks. i shouldn't talk. spend stamps, a record high, last year, government spend $80.4 billion. an increase of 2.7 billion just from the year before. a report in the "new york post" finding resip -- recipients take cash out at ebt atms, bars, liquor stores, porn shops, and strip clubs. the agency who oversees the cash acceptance programs lists these atms on the website. judge, you are with us, and for those who didn't see, that's

yesterday's "new york post," what you can do with your welfare check. some things. this is crazy. here's what i want to ask you. if we, the taxpayer, give people money, you know, out of being a benevada lant society, do we have a right to tell them how to spend it? >> no, we can't control it because money is spunkble. >> if you had zero money, but now it came from the government, can we say don't buy your kids chips, don't go to the strip club. can you put restrictions on it? >> no, i don't think we can. in my world, the federal government would not be giving individual welfare to anybody. if it's not authorized by the constitution and interferes with the free market. it's obvious that the folks who go to that establishment and use federal cash for it don't need

the cash for food. i mean, cash is fungible. they have cash to buy the necessities of life, and they have other cash to use for this entertainment. you know, i don't think you can tell people how to spend money that you give it to them. i think you can control how much money you give to them, the circumstances urn which you give it, and to whom you give it, but the government does not have the resources. it would be utterly or wellian for the government to track dollars to determine how -- charles: is the argument to give them less money so they don't have this? in other words, listen, we're a great society, but ultimately, i mean, how poor are you if you can have two drinks watching strippers? >> i would argue, and if our colleague were here, he would be going crazy out of this because they taught in in london that the government has the power to take from the rich and give to the poor. it's impossible to be charitable with someone else's money.

charity comes from the heart. when the government take tax dollars and gives it away, that's not charity. when one of the three of us voluntarily gives to someone for whom we feel sympathy and empathy, that's charity. charles: judge, thanks a lot. love it, appreciate it. president obama set hagel for the secretary of defense, but even g.o.p. members bulk at that plan. ralph peter is next. [ woman ] if you have the audacity to believe your financial advisor should focus on your long-term goals, not their short-term agenda. [ woman ] if you have the nerve to believe that cookie cutters should be for cookies, not your investment strategy. if you believe in the sheer brilliance of a simple explanation. [ male announcer ] join the nearly 7 million investors who think like you do:

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ally bank. your money needs an ally. charles: from chicago, capital management, and we hear about no spending cuts from the democrats, and, yet, we lose $200 billion of spending power because of the fiscal cliff deal so what do you make of all of this? >> well, remember the model here. it would not surprise me to hear from the current administration, well, now that taxes have gone up, and we're seeing, perhaps, a drop in con suggestion -- consumption, by all means, offset that by an increase in government spending. make no mistake about it, and do not forget it moving into the debate about spending cuts. our administration has no intention of yielding any room at all on spending cuts because our president does not even think we have a spending problem. i look for no compromise from

the democrats on spending in the upcoming debates. it's just not going to happen. charles. charles: right, and join boehner said as much, but where does that leave investors? markets iffy this morning. are we getting back in the scenarios we trade sideways waiting for this to brew up, and the deadlines, we fall off another cliff with respect to the stock market? >> i wish that somebody would please put the deadlines at 24 hours. make the deadline tomorrow and get it over with. does anybody in washington not get it that the greatest job creation machine is the american entrepreneur and american business owner? if you just give him a playing field and tell him what the rules are, he will accomplish like nobody in history, but just set the rules for him. it's the indecision. it's the, well, we might change this later. that is the problem.

that is getting in the way of job growth. can the politicians not see that? charles: you get an amen from me, but politicians do not see that. we appreciate it. thanks a lot. president obama's expected to nominate former senator hagel to today to be the next defense secretary, but some already speaking out over the nomination because of his positions on israel and iran. joining us, colonel peters. it's interesting because if you read the story from the mainstream media, the president is offering an olive branch bringing in one of the own in the cabinet, but, yet, for a lot in the g.o.p., nothing to be further from the truth. >> well, one thing i like about senator hagel is he's not a hard line republican. he's a maverick. he stands up for what he believes, even though i believe

what he believes is wrong to the verge of being nutty. i actually believe he's a man of integrity. as a lifelong supporter of israel, charles, he would not be my first choice for secretary of defense. that said, i am not about to join the conservative lynch mob organizing to derail the nomination. i believe he has earned a fair hearing, and along with the real negatives, he's got some real positives as well. we could do worse. charles: before you get to the real positives, tell me about the real negatives from your perspectives? >> it's straightforward. he, well, the remarks about israel, if you really read them, they are not as inflammatory as they are portrayed, but, nonetheless, wildly naive regarding hamas and iran. the voting record is mixed. he picks his issues. there's some votes that i disagree with. i think he's much too soft on

hamas and iron, much too soft. that's not the only game in town. it does not make the middle east policy. there are more important res facing the next secretary of defense. maybe not more important, but different pressing issues will be on his plate. charles: hard to argue they are at the center, no? the world is influx, a lot of things going on all over the world, but the focus for the near term is on the middle east. >> well, no, not for the secretary of defense. it should be for the president, although, obama is awol on the middle east. the secretary of state has the lead under the president. the real issue, the issue is going to be defense budget cuts, and they are coming. we with either make them smart or make them stupid. now, senator hagel, despite faults in middle east policy, he's a combat veteran, wounded

twice in vietnam, an infantry, and will stand for the troops. he will take on the legal corruption, the bloat, in the defense industry. he's going to be an advocate for the troops and the taxpayer against the wild bloat in the defense budget where we can make cuts, but all of that said, does the position on israel worry me? yes. does his position on iran alarm me? yes. i'm just saying let's give this guy a fair hearing. also, charles, one thing we got to note, obama is naive strategically, inept on foreign policy, but the guys, the chicago gang, are brilliant politically. what obama's doing is setting it up so -- he knows what -- how he's perceived in israel. obama is setting it up so obama can be good cop with benjamin netanyahu. they are savages. charles: meaning hagel has to be

a bad cop to make obama a good cop with respect to israel. >> it's a matter of degree. stressing again for the viewers, i'm a lifelong supporter of israel. we should be willing to fight to defend israel, but i also believe that senator hagel deserves a fair hearing, not a media lynching. charles: i tell you, you know what? you describedded chuck as someone who is forthright, speaks up, the same to be said about you, and for you to talk about the conservative lynch mob after him, you will hear about that more, i'm sure, as the day goes on. we have to leave it here. >> charles, i say to believe what i believe to be true. charles: that's why we seek out your council. appreciate it. thank you so much. >> thank you. charles: now, he's the question, guys, are we raising a generation of entitled brats? according to a study, the answer is yes. maybe you didn't need to know that, but the answer is yes. we have a mother of six who responds next. oods' first day o.

and his new boss told him twongs -- cook what you love, and save your money. joe doesn't know it yet, but he'll wk his way up from busser to waiter to chef before opening a restaurant specializing in fish and me from the great northwest. he'll start investing early, he'll find some good people to help guide him, nd he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground

and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. charles: apple announced there's been 40 billion applications downloaded since launching in 2008. half of the apps down loaded in 2012. shares of apple down $5.87. netflix on the move to the upside striking a deal with warner brothers to carry more shows on its services. netflix plans to carry shows

like "revolution," and "political animal," and they are up 5.50. itt education services is paying $46 million to fannie mae to settle a loan between the two companies, and its shares down 12 crepts, $17.39. bank of america are paying $30.6 # billion to fannie mae to settle plans related to residential mortgage loans. college kids think they are special. more special than ever before. we have that story for you next.

charles: center for disease control and prevention reports it's a rare flu strain spreading across the country. 41 states report widespread cases and a number of children died from it. experts say this is the worst flu season in years despite warnings of the bad season, you reader stewart did not get a shot. watch. >> why is that every year, just for the past four or five or six years, you're told, you ought to get a flu shot. i never heard of that before. charles: you should, stuart, and if i could talk you into it, i would have given you one on the show. all right, that's going to be a show down. sandra, did you get a shot? >> i absolutely did. it's the first year i got one. i was resisting for years, and i wish he would have got one. this year is really bad. charles: don't tell the doctor

that that i didn't get one. >> how are you feeling now? charles: we'll talk about that later. college students feel more special than ever with little to show for it. joining us a radio show host, and with the mother of six. >> oh, thank you. charles: a lot of other mothers of six who come on set? >> i didn't get a flu shot either. if we're sharing, i got it out there. charles: we talk about this all the time. >> because i'm raising spoiled kids. charles: did you go down it occupy wall street at all? >> i have walked by the occupiers, and i asked them to go get a job. i don't understand it, frankly, but -- charles: when you see the studies, they more or less say what we already know. i know i spent a lot of time down there, and it's like, you know, you have to tell the kids, no, back in the day, you had to walk after you retired, not first day on the gig.

>> absolutely. between the ease of getting credit and kids getting cards at young ages and celebrity lifestyles kids think are easy to obtain because people don't contribute and they are making billions of dollars, and i don't understand why, and social networking. we moved the bar for what kids should appreciate, something we talked about before, but more than that, in temples of what it takes to -- in terms of what it takes to have work ethic, and your true understanding of self-worth. something that came out in the article is there's a fine lean between thinking you have game and thinking you raise the sun in the morning. there is a -- there's a big difference between being a narcissist thinking you have capabilities, and at the end of the day, nobody wants to hang with a narcissist. charles: what if every one is a narcissist? >> we're doomed as a civilization. the reality is we have a quarter of -- i think the statistic was a quarter of a adults between the ages of 18-30 live at home.

there's an increase in the number of college grads getting jobs, but, still, the market is tough, and starting business is stuff. where the freshman in the study come off saying their skills are greater than they are, they know they will succeed, they are working less. they admit to studying less, but they still expect to achieve what they want is just unrealistic. charles: my son is 16, and he's more advanced than i am in a lot of areas, more intelligent, knows about the world more than i did at that age, but the work ethic is not a tenth of mine. not even -- >> that's the natural question to that, nobodiments to place blame because patients -- parents love the children and want the best, but who is to blame? society, the parents? why are they spoiled? >> it's a lot of things. by the way, my kids are more proficient in areas that i'm not. for example, they are better at math, and my i.t. is 14 years old. kids today have specializations that we did not.

however, look at this as a bigger, bigger issue. i don't want my kids living with me as adults, and so they have to go out, get a job, help them if necessary, but somebody's got to pay rent and learn personal responsibility. it's not all coming to you. this is not -- this can't be a society raising kids who all think they have it coming to them. charles: feels like that. genie's out of the bottle. we are in that society already. you got to wonder where does it stop because, you know, president ran on the idea i made it so you can stay in the basement until your 27. it's a good thing, not a bad thing. we need people like you to articulate it's not a good thing. >> i agree. people are scared to know there needs to be more people like me out there. my husband would shudder to think that, but keep in mind the president and others are respective of hard work and building yourself up, ect., and that is something to put out there.

charles: thank you very much. see you soon. lance armstrong considering coming clean on using performance enhancing drugs, but you won't believe why. lance armstrong next. [ male announcer ] at scottrade,

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♪ charles: well, according to reports, lance armstrong could be close to publicly admitting

that he used steroids throughout most of his professional career. the reason for the public admission? well, he supposedly wants to compete again and hoping the lifetime ban will be lifted if he comes clean. what a guy, huh, sandra? >> this is really an up believable story to me, and it's one close to my heart. i follow is closely, but as our last guest said when she was walked out, what country do we live in where he can confess to go back to work again? how do you think the country's going to perceive this man after he's really been lying to everybody, if, indeed, he confesses? charles why close to your heart? >> he's an athlete, supreme athlete, in the attention of all athletes globally for years and years, and arguably is one of the best ever on the planet. if drugs were involved, yes, we can say that attributed to the strength of the performance; however, drugs don't make you that good. he was still a phenomenal

athlete. charles: there's a difference, though, twine -- between winning the tour de france, and beating cancer being third. >> the guy who convinced himself he didn't do anything wrong. in his head, he thinks he didn't do anything wrong. charles: i don't know. listen, here's a guy who, you know, defrauded the public for years and years. he got busted. now he wants to do the right thing to be in the game again. >> tough for people to accept, and i speak for myself as well. charles: right. the highlight reel is next. can l your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, stealing your credit, your money and ruining your reputation. that's why you need lifelock to relentlessly protect

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