♪ ♪ imus in the morning >> yes, it's still going, like his stand or not, this guy has got stamina, right? good morning, everyone, senator cruz still on his feet roughlily 18 hours into the stand against obama care. he has not received much support from fellow republicans, but he is the center of attention. he now leads the stop obama care movement. now we know more about the obama care's price tag. five days from now, the insurance exchanges open. healthy youngsters, you take a

hit. amazon's making headlines, new kindles named squarely at the ipad. they've got a may day button on them, and the treasury secretary says the day that the government runs out of money. "varney & company" is about to begin. thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind...

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>> yes, he's been speaking more than 18 hours. senator ted cruz taking a stand on the senate floor. he wants to defund obama care. he started yesterday afternoon, a big concern, he says it's the cost of health coverage and that concern is clearly justified. we've got the numbers, they are in. you will be paying more for less health coverage through the exchanges. elizabeth macdonald is here and she has crunched the numbers. what can you tell us about the price that people are going to pay for the mid level plan. >> the silver plan, $328 a month that's for 70% of your costs covered, right?

but action is in the deductible. the action is in the co-pays, stuart. when you look at the different states, it's california. wow, look what's going on with california. if you're a young person, you want the bronze plan, you're paying a $5,000, that's a whopper, that's the silver plan, mid level, that's the silver plan in california looking at right now. it's at $2,000 deductible. right? but then they have higher co-pays and the coverage for the silver plan is going at 70%. for the bronze plan in california, a whopper, $5,000 deductible and 60% of your costs covered, stuart. stuart: and plus co-pay visits to the doctors and up the wazoo. >> we're back to the old styles 1990's hmo plans and restricted number of doctors and choices, this is what it is, it's a 1990's version of the hmo's now in the state exchanges.

stuart: liz, interesting numbers there. obama care, yeah, it's going to cost more money, you've got that, we've got that. here on varney, we cover it all. big money in tech. news today. new kindle models from amazon. facebook shares, they're close to 50 bucks and we've got two big tech ipo's coming. twitter and, yes, ali baba. there's big money here. the bell 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: face time and think time make a difference. join us. [ male announcer ] at edward jones,

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♪ when the nights have come >> he spoke through the night. he's closing in on 19 hours, ted you're looking at senator james inhoff, he yielded the floor to the senator from oklahoma briefly. we're following ted cruz all day long on this program. we're less than a minute from the bell. come in, larry levin from chicago, everybody is talking about senator cruz. are you going to tell me it has any impact at all on the market? >> no, definitely not. the market's going to take a hit whether senator cruz is out there five hours, five minutes or five days, i don't think it matters. one thing that's interesting, all the traders will tell you that we don't believe in any of the politicians out there. unfortunately, they don't have

our best interest in mind, fighting with each other. it's like they're fighting with other countries and why can't we get together and work it out. stuart: you guys are going to be overshadowed by technologies. nobody is looking at commodities, it's technology. you've got five seconds to answer. >> yes, technology is going to be a big mover and watch it closely, apple, amazon, and interesting to watch. stuart: we're watching, thank you indeed. the opening bell has finished trading. trading has started, we're up six points, not a big move, but we're slightly higher. start off with amazon, i should say. two new high def tablets out. now you can video chat live on kindle with a customer service rep if they've got a problem, a may day button made for me. and they're taking direct aim at ipads, aren't they? >> that's rightment and they are trying to make it more affordable. what they're doing is

essentially going where people can't afford ipads, 7 inches, only $229. 8.9 inches, and they're going for the jugular. stuart: bigger screen? >> bigger screen. stuart: cheaper than the ipad. >> lighter, and great graphite material. and they're doing something diametrically opposite. stuart: shah glan galani is following it, and were you shorting it. >> yes. stuart: you're a communist. >> i'm about to be a socialist, that seems to be more in vogue, no, i'm certainly a capitalist. i think the stock is high, i don't think i would buy it here. i love the new products, 339 pixels per square inch. so many great features and the price point. stuart: you're not buying it. >> no. stuart: you're not buying at 314 a share. >> no.

short it at 311 and for the time being. stuart: doubters take note, facebook stock very close to $50 a share. nicole, where did it open? >> well, it opened higher from yesterday's close, but yesterday it was 34 cents away from $50. so, now, the idea that they're going to have free trade and be able to have facebook over in shanghai and all the analysts are putting out targets, $50, 60. we're watching that, shah galani, that's a momentum stock. are you shorting that one? >> no, he hate to add m it it, i was looking at it below 20 and bided my time and missed it. when it jumped beyond that, it was going higher. and i would love to see it come down and look for a place to get in. stuart: thanks, we're poised for the biggest ipo since facebook. it is alibaba.

now, i think that that is the chinese version of amazon, if i'm not mistaken. >> yeah, essentially. stuart: is that why it's a big deal? >> it's a huge deal. it's 8% of the commerce in china. i lived in china and covered it for years. everyone shops on-line, they have a couple of companies to watch, and they're going to have access now, if they do, with the biggest liquid ipo market in the world. if it goes through. stuart: i don't know when it's going public in america. >> they're thinking first quarter, but it's not sure. that's unclear why they ult had aed their talks with hong kong to begin with. stuart: it's not hong kong, it's here, new york stock exchange, the united states of america. we're watching it. apple, well, blew everybody away when they claimed to have sold 9 million of the iphones just over the weekend. is that number inflated by unsold iphones?

they're down $2 at the moment. 487. joe, if i say apple is fudging the numbers i'm in deep trouble. are they? >> it's hard to tell. two things to look at sell in number and sell through number and makes iphones into consumers hands. and many analysts say they were sitting on shelves in europe, it could be a distributor issue, but if you look at it the numbers are not that impressive. stuart: really? >> i've been saying from the start. look at iphone 5. that was the 5.5 million and now they're saying 9 million, but that's two phones up for sale. if you do the math it's not necessarily a big fabulous number that a lot of people were celebrating yesterday. >> so the 9 million counts both phones. >> that's a little, it's just math. stuart: you moved the market. the stock is down $2. [laughter] i've got another big headline for you, we're moving away from

technology and away from the market in j us just a second. the number of older people. stop laughing, shah, the number 65 and up has increased 67%. these people are heading back to work because they can't afford to retire. what does this say about labor force participation? i mean, give us this in plain english, will you? >> it means that people can't retire. even though there's word that the labor force participation rate is dropping because the boomers are stepping out of the work place, it's not true. stuart: not true. >> not true at all. i'll tell you something, this might be a good ttend, watch this for social security. if you have older people still working in the system, they're still paying into social security and the older crowd tends to have more money and pay more. so all of this stuff, nonsense about income inequality.

that 1% of people who have been working longer, so they're wrongfully comparing the older crowd with the younger college grad. i think it's a good thing that older people are working because they want to stay active and they continue to get their health insurance. >> it contradicts the view often put out by the administration that the participation rate is falling because it is boomers who are retiring and getting out of the work force. not entirely accurate. >> right. stuart: they're working longer. >> nobody has the exact data. nobody can say that that is definitely going on. all the studies i've looked at, the labor force participation rate is going down because of boomers are retiring. uh-uh, nobody can nail it. no study has definitively said, yes, that's what is going on. stuart: shah galani, you're twitching your figures, go. >> and older people who want to get back into the markets, the problem is they have to.

whether we're looking at participation in the labor market or not enforced, that's the tragedy of the american fate right now. >> i'm of that age, three kids in college at the same time. >> you're working. stuart: i happen to love it. and back to ted cruz. he's approaching hour 19. let's go around the table. if cruz's stock, i use that analogy, his stock, i guess his performance within the republican party, is his appeal up? >> absolutely up. an e-plus for the effort he's made for the effort he's put out there. he's a positionman, passionate about it, against obama care and he's held himself high in the republican party and i wouldn't be surprised if they're promoting him and pushing him. stuart: youngster jolie.

>> he's setting himself up to be well-known for this and may be goods and bad along with this later down the road, but positioning for something bigger. >> stock is up, raising awareness, giving information to the american people they can't get on other media. i'm excited, i want to buy the audio version of his version of green eggs and ham and that's going to be a hot seller on amazon and that will make amazon stock go up. stuart: and he read the story, green eggs and ham and a wonderful picture of his two young daughters watching him reading them a bedtime story from the senate floor. >> dr. suess. stuart: now, we have been talking about obama care. ted cruz hates it and we've given you the numbers that it's going to be pretty expensive. i want to take a look at health insurers stock. so, nicole, what have you got?

>> well, we take a look here at the groo -- group, there's a mixed bag. when i walked in, traders were talking about mr. cruz and what he's been doing and some quickly said, listen, he is an exercising his right as an american, whether you agree with him or don't agree with him, what an unbelievable jobs he's doing in penny loafers, apparently wore comfortable shoes e no, he wore black tennis shoes. >> something for arch support. stuart: whatever, he didn't buy them at wal-mart, i tell you that. before we let shah galani go, he says, the headline, we're looking at a stock bubble. really? >> the markets have been reacting to the fed taper. we saw that in june. the initial putting out there by the fed that this was going to happen caused the markets to stir globally and i think they had to walk the taper talk back and now they're stuck, they're in a corner. they have to in some point

taper and the markets are waiting for that shoe to drop. and i'll be taking profits and wouldn't mind taking on some defense positions for shorts. i think we're well overcooked here. stuart: well overcooked. we'll quote you on that one. shah galani, thank you very much indeed. we're ten minutes into the trading session and down 19 points this wednesday morning, 17 points, 15,316. senator ted cruz taking that stand on capitol hill. the republican party is guided on what he's doing and on shutting down the government. after the break, senator jeff flake not in senator cruz's corner. he's up after this. >> have we taken up these bills in regular order, members would have had the opportunity to review and consider our spending priorities. that's what people expect us to do here. instead, we've procrastinated and put off the hard decisions like a bunch of teenagers putting off the pain of a term paper. clients are always learning more

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>> hey, dead flat markets down 6. 15,328. as for the price of gold we'll go through all the markets for youment 1322, we're up $6 an ounce right now. got news on j.c. penney, its new sales strategy does not seem to be working judging by the number of holiday workers they're hiring, same as back in 2011. j.c. penney's stock right there still at $11 a share. look at carnival. biggest cruiseline in the world i believe, and it's down again, a buck 37. a disappointing forecast, the market doesn't want to hear that after all the trouble they've been through. and as of four minutes ago, senator ted cruz officially entered the 19th hour of his opposition to obama care. he's been on the floor of the senate since 2:41 eastern time yesterday afternoon.

it has been a stamina performance, if i can use that expression. he's been on his feet almost all of that time. occasionally a republican senator will ask him a question which allows him, you know, time for the question. so, it allows him to walk away a little bit, but we're following this because senator ted cruz is making a huge splash. joining us now is senator jeff flake. he's a republican. he's from arizona. senator, i don't think you approve of the strategy that senator cruz is employing. you want him to sit down now? >> no, no, no, stay there. he's there until noon when we'll vote, so it's not a traditional filibuster, but he is making good points with the problems of obama care, more power to him. he had a good night of it and now we'll go on. stuart: but you don't really approve of his strategy and he

is getting a lot of publicity from this and i suspect that he's taking a big position within the republican party. you're not real happy about that, are you? >> well, my only problem is, we're held in pretty low regard here and to be telling people that we're defunding obama care through the cr, when we're not, even if we succeeded with the strategy, we would not be defunding obama care, then that strikes me as not the right strategy. i think we do have a great shot at having obama care delayed. i've introduced legislation to do that. i think the administration will be wild to do that inouple of months when the complaints rise, but trying to say that we're going to defund it through the cr when you can't, not just because of the politics, but because most of obama care is not funded through the cr, but through mandatory expenditures, and that's just not the right thing to do in my view. stuart: is it possible, senator, that this will play out very much in the republican's favor?

by that i mean, obama care is going into effect, it looks like it's going to happen and it is a democrat program. it's an obama program. and it's going to be chaos and could that not work out to your advantage come the election of 2014 regardless of what senator cruise is doing now? >> oh, yes. when people draw the distinction and let people know not one republican in washington not one voted for obama care. we voted some 30 times to repeal it or defund it or delay it. so when people know that this is a democratic program and when it starts off so disastrously, as it already is, the president has already delayed the individual-- i'm sorry, the employer mandate and i think that the democrats will look next year and say, if i'm a democrat running in a marginal state, a swing state, a red state, do i want to drag this anchor around with me? and i don't think they do. stuart: now, you have legislation that would delay the other part of obama care

for a year. >> right. stuart: when can you put that legislation before the senate, before congress and when might we see some action on it? >> well, it's been introduced in the senate with a number of co-sponsors, it's been introduced to the house. marsha blackburn is carrying it there. and all we need for the senate democrat to pick it up. they don't have to say. the president could say i'd like to delay the whole thing for a year and we would immediately pass legislation to give that effect. like i say, i think that's a great possibility and what senator cruise is doing is drawing attention to the problems of obama care. reading lists of companies that are laying people off or putting people part-time. so, that that has a valuable effect. the more people know what a problem this is and what this is doing to the economy, the better chance we have of delaying it and ultimately killing it, in my view. stuart: well, he's certainly got a lot of publicity and you can just look around and see it. senator jeff flake, republican,

arizona. thank you very much for joining us. >> appreciate it. stuart: dead flat markets or this. cut food stamps even by a little, go to hell. that's from the sitting u.s. congressman and my take on that is next. ♪

>> we are on the ted cruz performance throughout the hour. neil cavuto, judge napitano weighing in on his stamina and more. plus, the lawyer representing tea party groups reacts to lois lerner's retirement. can he get her to tell the full story? and how much you'll spend this christmas because of technology. smart phones, they make it real easy to buy. if you vote to reform the food stamp program, you're going to hell. i think that got your attention. here is my take. that's what congressman charles rangel said. here is a direct quote. jesus said you're going to hell if you treat the lesser of his brothers and sisters. congresswoman barbara lee said

this, they go to church on sunday and move to take food away from children. i think that is religious demagoguery. i'm damned if i think the food stamp program should be reformed, i go to hell? is this the new religious guilt trip to justify high taxes? perhaps congressman rangel should remember what was said, on to se on to caesar, i digress. point two, all religions require charity. do good. i got that. but does that mean we should have the government force us to be charitable through taxation? i think not. forced charity is not charity at all. point three, in the obama years the cost of food stamps doubled to $81 billion a year and the number enrolled from 28 million

to 47 million that's not sustainable. reform is it required and don't tell me i'm going to hell if i want to rein in a run away handout program. here is the bottom line, two members of congress, charles rangel and barbara lee put up religion to block reform. they present a new america, i've got it, you want it. i go to hell if i won't cough it up. we really do need reform, don't we? thank you orville and wilbur... ...amelia... neil and buzz:

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intuit, senator ted cruise demand an end to obamacare. we are there. neil cavuto a few yards from the senate floor and we are covering the retirement of lawless lerner. leading the charge to make her face the music. the crash, was that the bank's fault? the banks go after jpmorgan again. the judge is here on that. techniques used and more and we have approved. california, the land of 6 tax crippling regulation and the highest minimum wage in the country and yes, he is still on his feet. ♪ a news alert real fast. new home sales, an annual rate

of 421,000 is up. nice gain. senator ted crews still at it. this is incredible. he is standing up for the funding obamacare. now we know how much will cost, $328,000 per month on average for what they call the mid-level health insurance plan through the exchanges but it is the deductibless that will get there. $2,000 for those so-called silver midlevel plans in california. david asman is all for ted cruise, i don't blame you. this is an incredible performance but i'd put it to you you love the guy, you are all for him but he split the republican party and if he shuts down the government hands the huge victory to the democrats. >> you asked right question of gender -- senator jeff lake which is what happened to the 2014 election. this is not right now but it is

also about the future and if obamacare plays out as we see it being played out where americans more and more can't stand this thing and we come up to the midterm elections and see americans are more anti big government than the of the forbidden before even before the 2010 election this will prove favorable to the republicans. might look bad now all according to ministry media, republicans taking it bad. senator john mccain, a lot of other gop moderates saying it is terrible for the party. eventually this could be very good for the republican party. stuart: obamacare goes forward and is going to go forward no matter what. >> the president says his election was a endorsement of obamacare because it was about obamacare, is clear that based on the bulls he was elected in spite of obamacare. the electorate more and more is against obamacare. i am a supporter -- not so much but i am in love with ted

cruise. i am supporter of folks fighting for what their constituents voted the man to do. his constituents voted him in to be against big government and specifically against obamacare. the president isn't worth more than ted cruise nor is the senate. we have coequal branches of government. the house is a couple equal branch. stuart: has a huge splash, 19 hours on the floor of the senate is a big deal. >> despite calls of obstructionism the gop is being handed by the stream media spending as a percentage of gdp has come down in 2010 from 26% of gdp to 23%, enormous decrease in spending for government as a result of the so-called obstruction in congress. stuart: this has had no impact on the market whatsoever. wall street not looking good ted cruise for 19 hours. dead flat, down 2 points, i got

to tell you about some tech stocks. facebook is approaching $50 per share. >> we are looking at the $49 mark, down $49.66, $49.13, but that is -- stuart: do you think we dare put j.c. penney on deathwatch? nicole: you made there to do so. we are seeing it again, 12 year lows again just kicking out one well after another down 10% today, it has been struggling this year and they say they will hire 49,000 workers for the holidays. stuart: q the organ music. you know what happens whenever we put somebody on death watch, the stock goes straight up. >> rivers quotient.

charles: you may be right. >> all those facilities, what is going to happen to them? stuart: 5 for the real-estate. then we have lois lerner, at the center of the targeting scandal. officially announcing retirement earlier this week. the tea party group she allegedly targeted are outraged. >> when this thing started in manhattan vision of los lerner in an orange jumpsuit making license plates in federal prison and now i am picking her on a caribbean island with a drink in her hand with an umbrella on it living off of my tax money, your tax money. stuart: that is outrage. was the retirement move the violence lerner her best move she could make? the american center for justice, first time on the show. thank you for bei i followed you all the time. >> i appreciate it. the right move to make is if i was earlier no wonder she

asserted the fifth amendment privilege. stuart: evidence of the last couple month. by retiring, can shield led answering questions in the future? >> the answer to that is no. we have seen her in her individual and official capacity and her lawyer may instruct her to be deposed. in a civil case, a fifth amendment privilege is an admission of a statement. it is an admission of the statement. she may well take her fifth amendment privilege in this process we are engaged in in a civil lawsuit but those are admissions on her fault. i suspect her lawyers are probably negotiating some kind of immunity deal where for immunity from prosecution she will tell the truth and point to who is heading this up and of course the e mails that are coming up and coming out from

the house oversight committee and ways and means point to this goes much higher than low as lerner and she was a very -- goes to the chief counsel's office of the irs. stuart: you represent some tea party groups who were intimidated by the irs and you are suing individuals i take it? that is what you are doing. >> individuals and irs officials, the secretary of the treasury, and we are about to amend that to add additional defendants, people we know were involved in this process of direct targeting. stuart: can you get them under oath in a court of law to tell exactly what happened and who knew what? can you do that? get them into court under oath? >> you can. that is the situation we find ourselves in. this is the reality in this lawsuit. we are going to -- the government will move to dismiss and beat that back and there

will be discovery. in the discovery process some individuals may take this amendment but those will be admission against their interests. others will tell the truth if they are not worried about criminal liability. and the tea party is upset about this. and raise the specter of criminality. the criminal case at the time we began engage in these cases it was the attorney general who sent the fbi in to investigate the irs and irs officials. and statement under oath and discovery under oath, depositions, oral statement and that will lead to other people we depots as well? stuart: now but lois lerner has retired who pays her legal bills? >> people that are watching this broadcast right now. the american people are paying for her at least for her retirement. legal fees, most of these individuals that have been sued

individually and corporately are defended by the justice department and outside lawyers and these are really good law firms representing these individuals and i suspect the government and don't know this 100%. i suspect the government is paying those legal fees as part of their employment status and union negotiating but the american people are holding -- footballers out of the pockets of the american people on all of this and they can fix this quickly if the government gives them the exemption and did what was right with damages. stuart: we thank you for joining us. we appreciate that, thank you. i got to go back to nicole petallides because of apple. there are some questions about how many people did that over the weekend? was it nine million? nicole: stock is to the downside down 1.3% but for the week is up 3% and the $9 million complies -- may be sitting on store

shelves. regardless it is a lot of folks. stuart: not maybe nine million. governor jerry brown will sign a bill to raise california's minimum wage from 8 to $9 an hour. and $10 an hour on january 1st, 2016. just a side note, california chamber of commerce strongly opposed this move saying it will have negative impact on any economic -- david -- seems to me there is a nationwide move on the part of local and state governments to say you will pay this. >> there are very few things economists agree on. one of those things is seems to be when you raise the minimum wage you have an effect on lowest wage earners. a lot of businesses who can't afford to hire people at $10 an hour will just not be hiring people.

they are the ones, people hit hardest by this are the least eligible for employment, that is unemployment is going to increase as a result of this and a lot of municipalities have this movement throughout california, a lot of municipalities will say we are not going to be spending more to raise the unemployment level. connell: stuart: another item from california, modoc county has voted to recede from the state. a conservative county, we are leaving. stuart: people with the california. >> this is california, crazy and always has been and always will be but happening all over the county. in manhattan, new york is about to get a new mayor. many think you will be deblazio, a progressive liberal guy who wants to increase taxes even more. new yorkers, people who live in manhattan are saying we are forced to pay an enormous amount of money for people who are not

necessarily in our community, people and out liars in brooklyn in the bronx, there may be a secessionist movement in manhattan as well, secede from the city of new york, manhattan would become a city in and of itself. if that happens mayor deblazio will have a lot of trouble. stuart: that would be at lincoln independent republic of manhattan. i say delay obamacare but do not shut down the government. that is what i say. what does neil cavuto think? he will join us after the break.

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our commitment has never been stronger. [ engine revs, tires squeal ] [ male announcer ] since we began, mercedes-benz has pioneered many breakthroughs. ♪ breakthroughs in design... breakthroughs in safety... in engineering... and technology. and now our latest creation breaks one more barrr. introducing the cla. starting at $29,900. ♪ stuart: la amazon down $1, two new kindles out today going to the i had, they have a made a button murray you can call customer service for instant live face-to-face tech support. nothing for the stock, down

$3.13. shocked the alani did not move the market. take a look at this. this is the nineteenth hour of senator ted grues, 19 hours and counting, fighting to the fund obamacare. senator david vitter has stepped to the podium for the moment, that allows senator cruise -- don't know if it is a bathroom break for a food bank. >> that is the question i have asked. few people know about that. what do the astronauts do? stuart: they are arguing defund obamacare. we are less than a week away from the obama care exchanges. i say we should not shut down the government over obamacare. don't do it. my colleague neil cavuto, a am not picking a fight. i would never do such a thing. i say under no circumstances, don't shutdown the government because that gives the democrats

accused leg up in 2014. you want to take me on? neil: i don't know if that is the case. how long have we have 19 shutdown since jimmy carter? i don't think it is the end of the world. i think '95, '96 analogy is a good one. many argue it did help bill clinton but if you think after that what we got were better budget agreements, more cutting and spending so i don't necessarily think it is the end of the world if it comes to that. i don't think it will come to that but this view that republicans get stuck with a scarlet letter that would hurt them i don't agree. stuart: i am trying to work through this and see where we may end a week or two from now. i don't think we will defund obamacare or delay at and i don't think the government will be shut down. i think obamacare will arrive and that is a huge negative for

the democrats in 2014. i could see how this performance on the senate floor today and what comes after it is a plus for the republicans and not a minus. neil: a lot of people looking at him as crazy or going on, 19 hours into this, interrupted by friendly republican senator who lets him stand to decide but the fact of the matter is the media picks and chooses what sort of filibusters' it likes. i remember certain democratic state senator when she was going on north of 13 hours about an abortion that she had no hope of overturning and said so before she started filibustering, she was the media icon. this is our democratic process. that is nothing wrong with it. this sudden outrage over this is going to delay things ants congress worrying about

deadlines, that is a bit much. and not get a delay out of it. that might include be laying the key provisions for another year if you want to raise the debt ceiling. they are doing that separate from the debt ceiling debate. it avoids a shutdown but even then the shutdown would not be the end of the world. stuart: if they working on some kind of deal implies compromise, implies the lay, some of the big negatives will not be put in place. that is a headline deal. neil: sometimes a monster delay doesn't make it less monstrous. some of the key provisions of the health-care law that were delayed which we pay for, the denominator has been pushed back in the numerator is still going

up. that is the real fear. the delays are the things that matter to paying for it and that is the problem because eventually you do have to pay for this even if you put the exchange offer of $36 billion. stuart: i want to tip had to the gentleman who is 100 yards behind you. we can sit in your shot. for 19 hours on his feet, that is a remarkable performance and he is still at it. neil: he has a future, can you imagine him as a tv anchor. stuart: don't say it. stuart: i want to tell everybody what you have got on your program later on today. this is the big deal. neil cavuto tonight, senators john mccain, rand paula mothers, that would be 8:00 eastern time on the fox business network. big day for neil cavuto, a big david ted crews, big day for fox business, thanks very much,

appreciate you being here. mariano rivera bobblehead giveaway turns ugly. how could that be? up next find out what happened at yankee stadium because of a late delivery but first this. rookie cardinals pitcher michael walker working on a no-hitter, two outs left in the ninth and then this. >> foul ball, to play, surprise, and zimmerman beat out. thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond.

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stuart: we are down 20, news that new home sales are up 7.9% in august compared to july and we heard treasury secretary jack lew says the government will run out of money october 17th. that is your dropped dead. >> name going up as interest rates were going out. for the fed to say we need to keep interest rates down and keep going, this seems to fly in the face of that. stuart: let's go to sandra in chicago.

something different for you today. peer year on average people in america spend $936 million a year on much. men out spend women by 44%. my immediate circle knows i always bring my own lunch. i never by lunch. for anybody or even for myself. sandra: hold on a second. you never by lunch? when you are bringing to lunge -- if i am in your inner circle i happen to know that is smoked salmon and crumpets and toes and this costs money. i am betting you are studying twice that. that being said you are spending twice that in coffee every year. stuart: i bet they are.

i arrive in my office at 5:00 in the morning and i sit and eat all the way through, i have something to eat at my desk when i finished the show. arrest, young lady. >> i did the math. this works out to $2.5 a day for lunch if you ate one share everything will day of the year. that is not much. stuart: thrift is a virtue. do any to bring david asman into this discussion? >> peanut butter and jelly, forget about it. i don't know if you are that thrifty. what is the difference between sheet and thrifty? stuart: very thin line. using the word. stuart: what did you have for breakfast this morning? new mom, sandra. sandra: i had granola and skim milk. stuart: i am not knocking you.

hold on a second. sandra: $4 copy. stuart: the ticket black or sugar and cream in it? sandra: i have a latte, please. i have called skim latte, full disclosure. stuart: we have to fix the light where you are, you look like you are in shadow or something, a dark cloud over you. sandra: it is the trading floor. they don't allow light on anymore ever, they never have because it could interrupt trading. stuart: i will back off on that. listen to this. chaos that last night's yankees beam. the team was handing out 18,003 mariano rivera bobblehead to honor the final game at the stadium. a shipping error led to the arriving late. some fans waited three hours to get their hands on one. yankees finally gave out vouchers for fans to pick up the bobblehead later but some fans out raged saying they missed

most of the lousy game waiting for their bobblehead and deserve a refund. >> mariano rivera is the only real hero. derek jeter also. the only active player the yankees have left as a hero. we don't have heroes anymore. all our heroes turned out to be false euros, have been traded away or retired. the yankees have been doing terribly this year. the steinbrenner'ss, when george steinbrenner passed away some of the oomf of the management passed away. they have got to revive this team. i think it will be a very expensive year for them to do that. stuart: i was asking about bobblehead. stuart: >> we are just ticked off. we are mad. if you denied us the one hero we have, an example of that hero paula bobblehead of mariano rivera, we are going to get upset, we are going to get angry. that is what happens. you know how bronx fans are. they get kicked. stuart: the bronx. over there in new york.

let's get serious. we are keeping our eyes on senator ted crews still on the senate floor. that is the big story of the day. nothing to do with the markets but a big story and the judge is going to help us cover it next. ♪ ♪ [ male announcer ] now, taking care of things at home is just a tap away. ♪ introducing at&t digital life... ♪ ...personalized home security and automation... [ lock clicks ] ...that lets you be cloto home. that's so cool.

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to the finest comforts above. we're not simply saluting history... we're making it. stuart: we are more fed up than ever with the expanding size of our government. gallup finds 60% believe government has too much power. david, hold on a second. this contradicts the last two elections. in the last two elections americans have voted for more government, they voted for all government. >> the only choice they regan was this much government or a little more government. you had one big government guy, mitt romney against another bigger government guy, barack obama. he was the founder, obamacare started with romneycare. the individual mandate on obamacare came directly from

romneycare. you didn't have a kid grows running against barack obama, you had a mild newly mouth republican. stuart: reviewiig. >> the point is this number i don't want to discount this number because 60% is the highest number ever. gallup has been doing this for a long time, for decades. last audit was this close, 59% was september of 2010. why is that important? two months before the midterm election which brought more republicans to congress than any election in the 20th century, this number is very significant. of republicans back ted cruise and his message as opposed to john mccain and mitt romney, mild mannered gop message, i think they have a chance to sweep in 2000 -- stuart: let's look at ted crews, r-texas on the senate floor, he has been there since 2:41, he is approaching 20 hours on the

floor fighting to defund obamacare. he is a small government died. and very effective speaker. stuart: the judge is here. judge napolitano: go david. nothing i could say compares to the brilliant analysis david just gave. stuart: ted cruise is reporting himself and his leadership position in the republican party. i suggest it may be bad for the republican party in the sense that it is split. judge napolitano: i have a different view, go to ted go because the long treetops' the more people around the country, not in the republican leadership but the republican party stand up and agree with him. what he is doing is sending a message to the other side of capitol hill, john boehner, your days in that job are numbered because more republicans agree with me. i am speaking as if i am ted roux, then agree with you.

stuart: when he shuts down the government -- judge napolitano: shutting down the senate people will be -- stuart: the republicans shutting down the government whether it is -- doesn't matter. judge napolitano: i don't think they care if they can remove the john mccain/mitt romney/john boehner spineless leadership they have in congress and replace it with people like tom graves in the house of representatives or ted crews in the senate. another thing about senator cruise, wait until you see how much money pours into his campaign coffers as a result of this. when john mccain called him up wacko bird three months ago in two days -- in two days without asking, $1 million, unsolicited 40 to the senator's reelection campaign. he has three years before he has to run for reelection, more than

enough to run for reelection. finos what he is doing. stuart: this is a very good story and i have another one for you. it pays to sue jpmorgan. jpmorgan paid $920 million, that was offline because of the london whaled trading loss which is $4 billion, they lose $4 billion and they pay a fine on top of that. the loss only affected them. they admitted wrongdoing. now jpmorgan faces up to a $7 billion mortgage settlements and they are being investigated 6 different agencies. this seems that the administration is trying to pin the blame for the crash on jpmorgan, putting a face of evil on america's biggest -- judge napolitano: i agree with you. on the whale jpmorgan lost its own money. the government to add to that loss is theft, reprehensible and criminal. if the shareholders want to kick

out jpmorgan -- jamie dimon or the board of directors because they permitted the whale to do what the whale did that is the business of shareholders. the government didn't lose a nickel. the pain is absurd. stuart: they say the government is saying you should have known, you should have had checks and balances on that trade. that is what they are saying and a lot of people are very much in the government's camp. they hate wall street. why else have built deblazio as the next mayor of new york? judge napolitano: almost everybody listening to us including everybody in the studio at the moment, for the government to say we will punish you because you lost your own money besides the concept of the free market. as for the other thing they want to demonize, no pun intended, jamie dimon and say the crash and the housing market is not our fault, forget about andrew cuomo and fannie and freddie.

it is particularly you because you run the biggest bank in the country. that is preposterous because they don't give the government and the. when people stop giving elliot spitzer all the nichols that he extorted. stuart: got some more. judge napolitano: if they got a proper jury charges. >> who is more responsible for foisting bad loans on people who couldn't afford them? the banks or the barney franks and andrew cuomos to force banks to make loans on people who could not afford them? judge napolitano: fannie and freddie bought mortgage and could sell their garbage to fannie and freddie. >> forced to give those loans by people in congress. judge napolitano: i you telling me it my business? stuart: i'm going death in my left ear, let him speak. judge napolitano: i don't remember what i had for breakfast today. stuart: gulf coast -- how is

this for a number? $66 billion, that is how much people will spend on consumer items just using their smart phones this year. technology makes it so easy to spend money, doesn't it? we are dealing with it next. ♪ but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. folks have suffered from frequent heartburn. butetting heartburn and then treating day after day is a thing of the past.

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stuart: and ibm in new york after talks with hong kong broke down, the chinese ecommerce company, reportedly worth $15 billion. the biggest tech ipos since these will. new orders for durable goods up by $300 million in august compared to the previous month. deadline 2.4% jump in orders for new cars, strongest since february. keep in mind durable-goods after three years or more, dishwashers, cars, etc. treasury secretary jack lew wants congressional leaders the new debt limit deadline is october 17th. less than $30 billion on hand to hit the nation's built. in a letter sent to congress peer the immediate action, raise the debt limit, give me a blank check. that is what the president wants. back in a moment.

stuart: j.c. penney shares hitting new lows. nicole: it is broken down below $10. at one point at nine dollars and $0.93 a share down 14% today, 20% this week and these are the lowest levels we have seen in 12 years. j.c. penney shareholder not happy. stuart: i am not surprised. at one point it was not intended as bounced back a little bit. thanks very much. we have been saying tech rules

in part because it allows you to spend money much more easily. how much? listen to this. smart phones expected to influence $66 billion of holiday spending this year. let's straighten this out. you are saying an extra $66 billion worth of commerce will flow through smart phones this holiday season? >> right. that makes sense. if you look that last year, 2011 compared to 2012. we don't have the holiday numbers for 2015 yet but it went up 14%, that is the percentage gain that customers are using to purchase things. is expected for that to build more this year. stuart: i walk into a department store and look at an object and see the price and a smart phone with me. it is much cheaper on this thing

and easier. that is for people to do it. >> not only easier but customer service, also a process called show rooming and that is normal what you are doing. a lot of customers at doing that and that is what retailers are trying to fight so we look at these jobs numbers that came out and will be less this year than it has been in the past and one reason why is these retailers were shifting their cadillacs in these companies putting money into hiring seasonal workers. stuart: we all assumed, we suggested this lack of hiring for the holiday season had a pretty slow economy. but keep telling me it is a shift to technology. >> we can't ignore obamacare which forced a lot of retailers, and she is on part-time.

and so interested in putting people on part-time and review pay part-time workers you don't pay for health care. disposable income is down, continues to go down. don't you think that will affect holiday sales? >> it is but the reason, retailers could capital expenditures, store traffic is down. stuart: people looking at shopping. >> the show rooming defect. and i do this all the time on my ipad looking at the price, either on amazon -- prices are cheaper. stuart: one of the guys walked into i think it was the target, saw something he wanted to buy, saw the price in target, got out

is smart phone, runs the bar code, best buy, it was best buy, runs the price through his cell phone and says get that $2 cheaper on my smart phone so goes to the cash register and says i'm getting them to dollars cheaper if i go through this, cash register lady dropped $2 of a list for prius, he walked out buying it from the store. >> that is what we call price matching and why we are seeing again these retailers shifting capital expenditure on line and that takes a major toll on the bottom line when you have to price match so much. margins are very narrow. if you are comparing prices between the stores there is not a lot of wiggle room so every cent counts and that is why they're pouring the resources. >> amanda big companies on the street. >> there you go. that is why you are seeing this expenditure. >> true or not true? stuart: yes.

i take them off. very interesting stuff. thank you very much. to the senate floor, marco rubio now giving ted crews of break. ted cruise is into his 20th our opposing obamacare, defund that thing on the floor of the washington senate. who says you don't pay your fair share in taxes? states are raking in the cash by billions, we will give you some

numbers next.

lou: lou dobbs tonight at 7:00 eastern a critical vote in the senate over the defunding of obamacare and the division within the republican party. congressman james langford on the outcome of it all, 7:00 eastern. stuart: record tax revenues in the second quarter flowing into the state's. and state and local income taxes in queue to. since the second quarter of 2008. and state and general sales tax receipts. >> the fed says there's no inflation and there is

inflation. we have a big increase in coffers and is great for government officials and very shortly after it goes down. i suspect that will happen. stuart: it happens at the federal level. >> as economic aid to the begins to diminish those tax revenue. stuart: you oppose food stamp reform? you are going to hell. your take on that is next. ok, why's that? well uhhh... hey daddy, what's your job? daddy's a uhh florist. are you really a florist? dad, why are there shovs in the trunk? there's no shovels in my trunk. i see shovels... you don't see no shovels. just am. well, it's true. at ally there are no hidden fees. not one. that's nice. no hidden fees, no worries. ally bank. your money needs an ally. ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past.

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and that gelling hes to lower some cholesterol. metacil. 3 amazing benefits in 1 super fiber. stuart: last hour i gave you my take on two members in congress. i say nobody should be able to tell someone they are going to hell simply because they want to wait an end out of control program.

pam says, it seems -- imagine if gop legislators evoked religion to provoke law. i simply cannot imagine that. >> he does not pay his own taxes. please. stuart: congressmen wrangle who was removed from his chairmanship, i say that he should surrender unto caesar. i believe that is a direct quote. >> 's father boris can give lectures on morality.

i do not think that charlie rangel can. maybe the mainstream media did not want to embarrass an ally. stuart: i think that it is time i stop preaching. it is time for dagen and connell to take it out of my priestly hands. dagen: we have to get used to work on some holly luaus and a man. we finally know what health insurance will cost for those government run exchanges.

government run people could be the big losers in all this. connell mcshane will tell you what he thinks about adults who dressed up for halloween. that is all on this hour of markets now. ♪l: they go in the same category of people who wear other people's jerseys. [laughter] dagen: and there were moments he looked a little bit fuzzy. connell: let's go to nicole petallides on the floor of the new york stock exchange.