jpmorgan. american airlines up 4 1/2% to new highs. [closing bell ringing] cheryl: nicole, the bells are ringing on wall street. yes we do have a dow, nasdaq and s&p certainly closing at session lows. give it a few more minutes. there you go, down closing at session lows. s&p, nasdaq as well. david: look at that it is a pyramid. small on the top. biggest losses here at the bottom of small and mid-sized caps. they a lot of almost two points. cheryl: a lot is worried about the taper. david: these damn red colors. must have been doing it. we're all wearing it. costco disappointing investors with its earnings report today. its quarterly profit and sales fell short of analyst estimates after a rise in operating expenses. >> the largest largess home improvement chain home depot hopes to reach profit goal by

thursday. operating margin will expand to 12% by 2015. david: "wall street journal" reported that discovery communications is a considering a bid for scripps, majority owner of the food network. cheryl: love that network. investors eagerly anticipating hilton worldwide ipo the stock prices tonight and shares start trading on the new york stock exchange tomorrow. this could be the second biggest ipo of the year and largest hotel ipo ever. david: another patty murray and republican congressman paul ryan trying to sell their budget to lawmakers of both parties. are that it will fund the government through the fall of 2015. cheryl: jamie dimon is thankful congress reached an agreement. he said the attention his bank has been getting from regulators and prosecutors has been quote, really, really painful! "after the bell" starts right now.

david: so let's break down today's market action. jim lowell, chief investment strategist will tell us when to expect a correction, the precise day and hour of the day. he swore to me would do that. lance roberts, sta wealth management and chief strategist who says the markets are in for a sloppy year in 2014. we'll find out what sloppy means. todd horowitz joins us from the cme. todd, what is spooking the market. >> hi david. hi, cheryl. you know just a little bit of profit-taking. there is nobody around. volume has been fairly light. you have a little profit-taking and market got on a roll to the downside. all we did was wipe out friday's gains. we're on a little bit of a downtrend from the upper level of 1810. other than that the markets are very quietly going down here. david: guys, before you to any further, i want you all to know

that hilton ip off the, we finally had a price put on those share prices, on those shares. $20 a share. that is what they're pricing. pricing on ipo has been very, very awkward at various moments over the past year particularly with facebook and other ipos issued. how does that strike you, todd as a price target for hilton? >> i think it is fair. listen, we're in a position, one of the things in the market, we're having some ipos and they're always trying to one up the one before. i think it is probably fair. and it will probably open higher. it will open higher. cheryl: okay. he thinks it will open higher. lance, you say, talking about the hilton ipo, you believe the retail investor is finally coming back into the market. you have a name like hilton, everybody knows it is ipoing. people know this name. is it even a good idea. >> we're very late in the stage. we're five years into a bull

market. we're up 165%. you're seeing money flows surge a tremendous amount over the last year. you know, four years into the bull market. so it is not surprising that seeing investors coming now. they're finally realizing they're missing the boat. also it is a sign we're very late in the cycle. david: actually 80% of the people on the sidelines over the past five years are still on the sidelines, jim lowell. >> yeah. david: you point out only 20% of the that cash has come in but you see a big correction coming, jim. will it be big enough to wipe out 2014 earnings? >> what i see certainly the likelihood of a 5 to 15% correction somewhere in the next three to six months. only natural from these market peaks. given the fact we're clearly heading into a rising rate environment in 2014. but i think we end the year on higher note from where we begin. i still think that today's selling is actually fairly logical. you're looking at the small and the mitt caps, smids selling off

more than the multinational battleship blue-chips. that makes sense to me. next year there are plenty of investment opportunities but it will be as lance said a sloppy market. >> jim err talking about the. hlp will be the ticker -- hlt. what is interesting about a name like that, jim, about hilton, it was really the technology sector we expected to see more ipos of. and hilton a company that was public, went private and now they're public again is copping back to the equity markets. isn't this a bullish sign for equity markets overall that we'll have a strong 2014. >> i think it is a bullish sign. one of the things we focus most on is the health of the u.s. consumer. hilton could not be priced at upper end of its range if it was not confident about its consumer. in the eurozone consumers are coming back in the marketplace, particularly in the car sale

marketplace. also a slight housing recovery is binning to spread. i think next year will be a tale of a global consumer getting back on track and u.s. consumer maybe being taxed from time to time but still reasonably good shape to drive the economy faster and forward. cheryl: jim i want to point out to our viewers hilton may be increasing the amount of shares they put on to the public markets tomorrow. that is something we'll be watching. david: we'll be watching it. lance, let me ask you what you think about what lance said about small caps. is it time to give up some small caps and go to the big names? >> it would certainly be a more defensive move to do that now. what we're see about the hilton ipo and is a big rush by private equity firms to get deals to the market before next year. just because you're seeing ipos, doesn't necessarily mean that it is bullish for the market. what it means the private equity firms are trying to extract the premium from these deals before a bigger correction of the market might occur. there are two sides to that

story. tough determine wherewerwe are in the markets. cheryl: lance, we should mention hilton some cog earlier than expected. they moved up by 24 hours beforer they were hitting the mark. -- markets. that is like you said before people take off for christmas say iscations. hilton delayed this for a long time. they were cautious about hitting the public market. now they're doing it. >> they're choose to maximize their entrance to exact the most premium. if you're starting to suspect we're at the late end of the cycle, potentially a correction may occur next year, this is the time to get to market. we're seeing firms rush to get deals done here at year-end when otherwise they wouldn't have to. david: hey, todd, i'm hearing more noise than usual in the background there. are they continuing to sell off into this market? >> they're selling off a little bit. we're also in the middle of what they call rollover. this is the start of triple-witching expiration where they start to roll futures over.

we're right in the middle of this as well here. david: oh, boy. cheryl: jim we're getting to this point in the year, to look at. year that was, year that will be, jim, we've seen small and mid-cap stocks outperformed the s&p. which by the way the s&p is up 26% year-to-date right now. how do you feel about next year now that we're seeing average investor getting back in playing the 500 play and do you think small guy will do better in 2014. >> i'm sure small and mid-cap names will do well but reality the small and mid-cap are most prone likely to the setbacks we'll get next year. that said i want to buy what consumers are buying. whether it is housing-related. whether it is car related. whether it is discretionary from amazon to home depot to ford. i think the consumer in good shape. as long as they're in good shape i think this market net-net is also in good shape. david: that is interesting point. lance, are you playing on economy. are you betting on economy to improve? one of your picks is nrg,

energy. are you betting on economy improving and going with stocks that deal specifically with that? >> actually, no. i'm actually kind of betting on a pretty sloppy economy next year and here's why. david: interesting. >> well the reason is nobody is taking into account the effect of the affordable care act as it kicks in next year. we're seeing health care costs go up as much as 40 to 60% which will come out. bottom line of disposable income that will pretty much be a tax on the economy that nobody's really paying attention to. so, i'm thinking we see weaker economic growth in terms of consumer next year. but you utilities and energy will be a play to extract some dividends. david: won't people use less energy because the economy won't be growing as strong as now we're being to will? >> that's exactly right. i'm liking companies with good strong dividend yields or good defensive play against any type of potential market weakness and if the fed begins to taper that will extract liquidity from the market and make it more difficult for markets to rise in

the face of weaker economic news. david: lance roberts, jim lowell, thank you guys. todd horowitz, we'll come back to you in the s&p futures. it is pretty wild in the s&p pits right now. cheryl: certainly wild day down there. david: thanks, gentlemen. cheryl: thrill seekers looking for an outlet for their passions dedicated to their needs especially for men. the company's ceo will give us the recipe for success. david: it is coolest website. white house economic visor gene sperling will tell us why he believes the new budget agreement on capitol hill is only the beginning but will the white house sign on? we will ask him if the president will sign on to what the democratic and republican leaders in the house and senate have now signed on to. cheryl: that takes us to today's facebook question. are you happy with the ryan-murray budget deal? why or why not. log on to facebook.com/afterthebell. let us know what you think. ♪ [ male announcer ] once, there was a man

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they take a big hit? >> did you see that hat? it is freezing here in new york. when i talk about the weather really brings me to these homebuilders, that's right. the homebuilders took a hit. industrials did as well. homebuilders have a particular trade called the hope trade. people start to invest from homebuilders now until the spring selling season. that is the big season. toll brothers came out with their numbers recently and said business has been flat versus last year. the earnings they delivered yesterday were a little bit of a disappointment. the hope is that the homebuilders will do well. ceo of toll brothers says the demand is on our side. demographics are on our side. we're cautiously optimistic. that gives you a little sense of a little nervousness there. the group overall down 2% for a lot of those names. overall for this year a little back and forth. if you were up a couple percent. down a couple percent. certainly not like other groups outperforming this industry

overall. david: getting a little rocky. nicole petallides. thank you very much. cheryl: s&p futures are closing. head back to todd horowitz and loud pit of cme. >> it's a loud pit and we'll close on our lows. we have retail sales to watch tomorrow. but all eyes are waiting for the fed unless it breaks the 1770 level. the qe program inception. giving money to the household it would be $290,000 to the household. if they would have given money to the american people instead. cheryl: todd horowitz out in the pits of the cme. s&p 500 closing at session lows. david: might be selling rumors as far as the fed goes. ladies out there, you are included, cheryl, are you looking for all things male guide to just about everything cool your guy might want for christmas? from where to eat, drink, to the hottest fashions and tech. one digital site has virtually everything you're looking for. cheryl: the media group gone

from niche letter to a company with all things guide. the cofounder and ceo. this is a fascinating story. >> thank you. cheryl: the email platform. now you're selling products. you are taking this to a whole new level and you have several sites that are working. >> we do. we started as a content property and realized we were driving lots of commerce. we got guys out to do things we recommended. on back of that we took a risk a few years ago and bought a small commerce company called jack threads and done a good job that we can turn readers into buyers. cheryl: actually put the money in your pocket. >> yes. david: a lot of sites out there say this for cool guys. this is really cool stuff. this is kind of edgy stuff, both in terms of eating, drinking playing around, et cetera. you're really in sort of the 20 something demo. >> absolutely. 18 to 34-year-old guy would be the general target.

david: guys my age can kind of dream. get on the site to dream about being young again. >> think less about age and much more about mind set. it is a about people that want to live a fun life and trying to help them get information to do it. cheryl: you're in 26 cities but you're expanding. you're looking to go international. >> we're if four or five international markets right now. next year we want to be another 30 or so. we're finding with each market we go to there is network effect and gets easier to launch in another city so we're stepping on the gas. david: you're kind of exploring new advertising tools. very interesting what you're doing including something which you call a shop function and it is built right into the editorial content. so as i'm reading you can go in and shop but there's a danger there. what happens if you're panning something, what happens if you're editorial content saying this is terrible restaurant and there is shop function. that restaurant will not want to advertise with you. >> great question. we've been of the mind there is

so much content created, there is plenty of place to go get content reviews. we're really focused on recommendations. we're trying to help people figure out really quickly what is worth their time or money. there are no pans. they are about recommendations. anything we write about they're cool. we don't have that issue. david: doesn't that hurt credibility with the reader out there saying i won't see anything negative? >> it does if the stuff isn't all really cool. so we have to have very, very -- cheryl: you have great stuff. i also want to ask if you're profitable? >> we are profitable. we've been profitable for, we've been profitable -- cheryl: is that a duck hat? >> that is a duck hat. cheryl: dave, you have to wear the duck hat. david: no, no. cheryl: really? >> i'm not a duck hat. cheryl: cool guy wants a duck hat? >> i hope so. actually all the stuff that you have here, these are all things that we actually made ourself and we sell a bunch of other brands stuff. but on back of understanding what guys are buying we started to create private label brands. these are representative of

three different brands we created much one is wolf. one is just found out a new coming out tomorrow and the team named it the lerer after me. i'm particularly fond of this one. it was suppose to be a surprise. cheryl: in new york you will see sell a lot lot of this stuff. it is really freezing. david: this was out of it so cool. i'm still so old but young people think it is cool. investors advice, investors always give you advice. one advice investor gave you that i love, written in my notes. spend every dollar like it is your money. particularly in the '90s, a lot of guys got 20 million, $30 million from venture cap dallists they went through the money faster than anything. you don't take the same, how do you view the attitude spending every dollar like your own with the workforce? >> early on we had very little capital. as a result -- david: you remember being hungry. >> i remember being hungry it became part of our culture.

we were with each early hire we made we were always incredibly thrifty and careful how we spent money. it became part of our culture. we're 275 people. david: you're hiring more people. >> we have 80 open seats we're trying to fill by end of q1. cheryl: i was asking whether you're having trouble filling those jobs, technology jobs, computer engineering jobs, companies are not finding -- >> it is definitely hard. we built a nice recruiting infrastructure i internally. we found a bunch of external partners keep us a constant flow. i think the reason we're successful on that side we have amazing retention. we built a fun culture. people like coming to work. we treat our employees really well and we sort of create ad company that is destination employer. and so at this point we find that, you know, we're able to hire more easily than other folks. cheryl: you probably have a great holiday party. >> we're having an awesome holiday party next thursday. david: google, thrillist if

people want to apply for a job where do they go. >> on the site we have career section, particularly developers. david: ben le. ere. >> lerer. cheryl: nice to meet you. david: a thank you very much. cheryl: well as the bitcoin craze sweeps across the globe one of wall street's biggest firms is working on plans for its own virtual currency. yeah, we'll bring you details coming up. david: health and human services secretary kathleen sebelius face as barrage of new questions on capitol hill about the botched launch of the healthcare.gov website. we'll tell you what she had to say to her critics when we return. trying to put the hat on. i'm not going to do it. cheryl: come on. david: not going to do it. ♪ [ male announcer ] here's a question for you:

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david: time for a quick speed read of some of the day's other headlines, five stories in a minute. first up, digital payment making its way to wall street. jpmorgan issued a patent for electronic payment system that will allow customers to make payment the over the internet that sound similar to bitcoin. source says youtube advertise revenue will increase more than 50, five, 0, percent. advertisers projected to spend $5 billion on the website in 2013. vw looking to build the first engine plant in north america to capitalize on growing business. they are now limited to europe. twitter may have send private messages on social media platform. that is anthony weiner. unfortunately the weiner is late for notorious tweeter, anthony

weiner. new york will be home to have a public wi-fi zone. a former goldman sachs employee and his wife donated $2 billion to pay for 95 blocks of free wi-fi in harlem. cheryl: poor anthony weiner. almost feeling sorry for him. david: almost. not quite, not quite. cheryl: health and human services secretary kathleen sebelius testified on capitol hill touting obamacare's latest enrollment numbers. david: it was quite an interesting performance but despite the fact that enrollment quadrupled in november, still it is far below the administration's original target. only 10% of the original targets. rich edson joins from us capitol hill to break down the numbers. rich? >> david, the administration around september according to documents figured by the first two months they would have a million folks signed up. that is not the case. look at numbers released this morning by the administration. 227,000 folks signing up through state exchanges. 137,000 signing up through the federal exchanges. this doesn't necessarily mean

they have necessarily paid for their plans yet. when you consider the targets they set out in september, millions would have to sign up by the rest of this month in just the next three weeks. >> in october the ap reported that a september fifth memo sent to you, listed monthly enrollment targets for the exchanges and this memo indicates that your target enrollment number for the end of december is 3.3 million. based on hhs's release this morning your department is more than 3 million off their target number, isn't that correct? >> through the end of november, that is correct, sir. >> the administration said the problems with the website they say are now largely fixed drove a lot of folks to not sign up for insurance. they say that will only get better from here. they expect the pace will pick up over the next few months and possibly, maybe the administration hopefully think that is they could reach the seven million that the congressional budget office projected they need to get this done. on the other side the ad that

39 million people visited the website. that is at least a sign of interest. the problem with the those 39 million going to the website. did they not sign up for obamacare because they couldn't through the website or because they thought it was too expensive. david: bottom line, though, a 90% failure rate on the target. 90% failure rate. any business would be out of business. cheryl: either they couldn't get through the website or decided to pay a fine. >> right. david: thanks a lot. rich edson in d.c. well a budget deal has been reached in d.c. but will it pass through congress to prevent another government shutdown? we'll ask white house economic advisor gene sperling what the obama administration thinks of this deal. cheryl: two million xbox one gaming consoles have been sold but is that enough to compete with competitor sony and playstation 4? we speak with xbox's chief marketing and strategy officer. ♪ she's always been able to brighten your day.

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cheryl: time for a like at today's market drivers. stocks extended losses as investors fear the federal reserve will begin tapering next week after lawmakers reach a two-year budget deal. telecom and health care led today's decline. natural gas declined as cold weather will have bigger stockpiles. natural gas was up 2.4%.

euro advances to six-week high against the dollar. euro hit an intraday high $1.37s against the green back, david? david: microsoft says that one week after the xbox one has released they're out of stock. cheryl: that is true. what about the fight with sony's brand new playstation 4 and who will be the ultimate winner? joining us is the xbox chief marketing strategist. thank you for being here. new forecast for holiday sales, did you expect to hit two million this quickly? be truthful, come on. >> no. to be honest with you we're blown away on the demand t surpassed our expectations. we had hopes obviously but we had no idea it would go this well so far. david: but did you have a number? we're looking at two million in sales. did you have a specific number, a target? >> we didn't. we were, to be honest with you we're trying to build as many as

possible and we were hoping we could sell as many of those we could and we had no idea we would be able to sell that money or being behind or lack. so it has been kind of just on what we would have hoped for. david: obamacare is 90% off its target. they were expecting to get three million. they only got 300,000. i trust you're doing better than 10%, right? >> we're pretty close. we pretty much sold every unit we've built. cheryl: if you look at industry commentary, the analyst commentary on you versus the competition and sony, they say you can't compare the two consoles. it is like comparing apples and oranges. do you agree with that? because this is really two of you fighting it out for every gamer out there right now. >> no, i agree with that to an extent. some senses we're kind of on par. we're a wake later in half the countries but the things different we built all-in one device cost as bit more but does a lot more and that makes them

very different. over time we'll appeal to a broader audience. david: okay. >> you see that with usage. we've had 83 million hours of usage on the system already in 18 days. it is a phenomenal amount of usage. people are doing more things with it now. not just gaming. they're watching live tv and skypeing with friend and movies and music. a bunch more to the xbox one. david: sorry to interrupt. i want to get stats off the screen. we have a live dem nation. demonstration. mike here in studio playing with one of your sets. this is driving app or software. is there one particular game that is more popular than others? >> there are a number, what you're doing there is five motor sport 5, most highly acclaimed racing car product we put out. looks like you're driving the actual car. we have a couple other ones, rise of the zombies. we brought zombies to your show

with liz claman 18 days ago. we have little something for everyone. for kids we've got things like zoo tycoon. cheryl: we're looking at zombies from liz claman's segment. >> yeah. cheryl: i want to ask you, for those with children, if you haven't preordered by now, is it possible to get an xbox before the holidays? >> it's possible. it will be tough. and i think basically what we're doing, we're seeing we're shipping as many as we can and what will happen is, they will go on sale for short period of time and go away. the best thing you can do, sign up with your favorite retailtory send me an email when you have inventory coming available that is best chance of getting one available before the holidays. david: what is your fear if that because the inventory might not be there, people might say oh the heck with it, i will get one of your competitors? >> absolutely. that is always a risk. that's why we're doing as much as we can to get our inventory out there. i know, just based where we are now we're catching up on

inventory we're building. we'll have millions more before we're done by end of the holiday season. i'm hopeful well get one for everyone but we'll be sold out in someplaces. >> real quick. there is 100-dollars difference between you and playstation 4. is that a problem? 100 bucks a big difference especially for kids. >> absolutely. $100 matters a lot to our consumers. we knew that before we built the product. i felt a lot more nervous before we sold two million. around people are buying the console and using it for the thing to it was designed. our vision for building a value prop for game something landing. david: because this is so extraordinarily successful right now, are you given pretty much a free hand to do whatever you want? cheryl: could be ceo. >> no. i wish we could do that. no, we're going to keep running xboxs, the business we've been running. we're generating profit for the company. we're providing a great place in the living room for the devices

from microsoft. we'll keep doing that as we go forward. our focus is really delivering a great consumer service. and so we want to really delight the people who purchased it and those coming this holiday. cheryl: youcef, go ahead, david. david: i want to found out the game we were playing, here it is, called forsa motor sport 5. it is very at take tiff. one of the most realistic driving games i've ever seen. congratulations on this and others. >> appreciate the time to talk with you about it. cheryl: xbox chief marketing strategy officer. great stuff. david: one day after senators patty ryan and paul ryan, no relation, reached a bipartisan budget deal, leadership of both parties are trying to sell it to lawmakers. coming up we'll talk with when wit white house economic advisor gene sperling, whether this truce in the budget wars will last. cheryl: with a shorter shopping season and winter storms

preventing some people from hitting the stores, how are sales holding up? we'll have numbers for you coming up. ♪ ya know, with new fedex one rate you can fill that box and pay one flat rate. i didn't know the coal thing was real. it's very real... david rivera. rivera, david. [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. wow...look at you. i've always tried to give it my best shot. these days i'm living with a higher risk of stroke due to afib, a type of irregular heartbeat, not caused by a heart valve problem. at first, i took warfarin, but i wondered, "could i up my game?" my doctor told me about eliquis. and three important reasons to take eliquis instead. one, in a clinical trial, eliquis was proven

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investments designed for a smoother ride. find out why 9 out of 10 large professional investors choose ishes for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and eenses. read and consider it carefully before investing. risk includes possible loss of principal. cheryl: we're getting some more details on hilton's ipo. that ticker, hlt, will be trading on the new york stock exchange tomorrow. $2.34 billion. this is now officially the largest hotel ipo ever in u.s. history and trading history. they priced at higher end of the range. range was 18 to 21. 107.6 million shares. they're offering more shares than they initially planned to do. this stock trading on new york stock exchange. starting tomorrow the biggest ipo for a hotel ever is hilton. dave. david: what a rich moment. they have planned to give out 112 million.

today, christmas shopping season with new shopper foot traffic, from shoppertrak. cheryl: jeff flock joins us from wisconsin with details where he has been cutting down trees all day and loving it. >> you are looking at, cheryl and david, at one of two christmas traditions that the sun is setting on. perhaps you see the son going down into the west here in wisconsin. one is fresh trees the other is shopping an actual stores. made out of brickses and mortar for your christmas treats. take a look at numbers from shoppertrak that you mentioned there, david. what they say is, foot traffic in brick-and-mortar stores down 21% last week. that is as i said, is because of online sales. why are sales of fresh trees down? well, because of those damn fake

trees, come from, i don't know where they come from, china or something. these come from wisconsin. that is what a blue spruce? >> that is colorado blue spruce, yes. >> why should i like these things than the things from china. >> they have a great fragrance. they grow here. makes oxygen for you. renewable resource. poke you in the foot when you step on them. >> there, you can't top that, by god. that is real tradition. what are you sensing this year? better than last year? you had a big drought last year. >> last year we lost about 6,000 trees. sales are up a little bit. people are enjoying coming out to walk in the field and fresh air. >> gotcha. i like boy, isn't this great? that only not only cut it yourself, that is about 70 bucks, that is even less. >> that is $40. >> 40 for that one. that is a $40 tree right there. you won't get that in new york city, by golly. david: in new york, about $120

in new york, that tree would go. cheryl: $75 in manhattan, thank you very much, for a seven-foot tree. david: i don't know. i don't know where you shop but give me the address because i've seen one like that for over 100. that is expensive tree. by the way, what is the temperature out there, jeff? >> we're at six right now. they say, whoa, shoot, i almost killed laurie, with the tree. well, it is six and going down tonight even lower. we'll go down there. of the sun is setting out there. david: six degrees out there. jeff, thank you very much. >> laurie took the job with jeff, she knew danger would be involved. christmas tree danger. david: tough assignment. always fun working with jeff flock. cheryl: as investment season picks up steam you might enjoy a few alcoholic beverages. now the time for holidays, they have have a how alcohol can affect your life expectancy. david: we have a budget deal.

both sides they say they didn't get everything they wanted. we'll ask the white house ace gene sperling what he thinks of the deal. that is coming up after this. ♪ every day we're working to be an even better company - and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world.

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david: let's go "off the desk." holiday miracles do come true even on airplanes. canadian airline west jet, passenger christmas wish thanks to two terminals in airports. when selected flights landed in calvary, passengers were taken to a special baggage claim where packages containing gifts they had asked for. big-screen tvs, tablets, snowboards, socks and underwear filled a conveyor belt. look at that. cheryl: can you believe they did that? david: very nice. cheryl: "off the desk," a new study found people who drink regularly live longer than those who completely abstain from alcohol. team of researchers led by a psychologist said mooed rat drinking one to three drinks a day was associated with lowest mortality rate. researchers examined 1800 people over 20 year period found 69% of participants who completely abstained from alcohol died during the study, compared to 60% of the heavy drinkers and

41% of modrat drinkers. david: all i can say, whew. that is good news. that is good news for my household. cheryl: mine too. as we've been reporting, lawmakers unveiled a two-year budget deal ahead of friday's deadline. so we asked you on facebook, are you happy with the ryan-murray budget deal? we'll read your comments coming up. and cheers. ♪ mantra? family first.

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start a tax-free business at startup-ny.com. david: congressional negotiators appear to have avoided another government shutdown by reaching a bipartisan son budget agreement but dawes this lay the groundwork for a longer term deal? for white house view, gene sperling from the white house economic director. mr. sperling noise to see you. will the president sign the deal reached by the congressman and senator last night. >> there is no question while we realize it's a compromise. it is far from perfect. the president believes it's a step forward on jobs and not create up certainty you're l you were talking about. would create up to 300,000 more jobs and having more demand and no question it leaves for investing in education and research going forward.

obviously we would like to see more pro-growth, pro-middle class type of balanced budget with revenue and mandatory savings and more room for investing now but the question you have to look at, is it a step forward even though it is not perfect. i think our view it's a positive step forward and it is -- david: forgive me for not being able to translate accurately but i think that is a yes to the question. the president would sign what the world saw last night, correct? >> well, we'll always wait to see what actually comes to our desk first. david: okay. >> but, as we understand the deal it is one the president would support. david: now, would you sign a deal that did not include, and this does not include it, an extension of unemployment insurance? >> well, look i'm not going to get into the, you're asking good questions on what are the exact legislative mechanics. what we're doing at the white house is making clear what we think need to be done. and of course we do not believe that as a country should allow

1.3 million workers who are still out there, pounding the pavement, looking for work, and still a tough labor market to lose their basic support a week after christmas. that is not the kind of people we are as americans. these are people who worked. they have lost their job. they're still looking for work. we should not all go home, you know without taking care of making sure we extended long term unemployment insurance. david: right. >> this is something president bush, president reagan have done. this is not just a democratic issue. something we do when we still have 7% unemployment. david: by the way, president reagan never signed an extension that carried on as long as this will have. sounds like you're willing to sign on to it even if it doesn't have it maybe as a side reemt itouldt p in. ta abo the ide. can tkbouhvoid fromhiseal. tax bres, tre a aot o x brks youldave lik to he gotn ridfhatere nootten rf i tseal. expln sef thoax baks

uould leond. >>ell thi t president's had proposals for larger deals. for example, on corporate tax reform, he has said he would be, would like to get rid of a lot of tax expenditures and loopholes as part after plan to have a minimum tax on foreign earnings and lower the rate to 28 and 25%, as part of a larger budget deal. he would limit the degree of tax expenditures on upper income americans but this was a smaller deal. we how the that overall it was fairly balanced and reasonable. we understand it had to be something that could get support of both democrats and republicans and, you know, again nobody's claiming this is not, that this is the big kind of an agreement. it is a small agreement but it's a positive step forward and it was relatively balanced enough so that we think both democrats and republicans should support it. david: let me ask you a question about something the president has been talking about recently, income disparity. he has been hittings on that, indeed the gap between richest

and poorest has grown. why do you think the divide has become greater than the obama recovery than the bush expansion? we have numbers we can put up on this? >> i think there is no question that the wage stagnation the president talks about, the fact that so many people in the middle class are working harder but feel like they're falling behind or work harder just to stay up is a longer term trend. it didn't just start obviously in the obama administration. look there is no question, this president inherited -- but it got worse during the obama administration. that is the point. it was 65, the top 1%, their income grew 65% during the bush expansion. it grew 93% during the obama recovery, when you raised tax rates, the rich seem to do better. >> i think that what we should all remember, and i think you do remember this is that the president inherited the worst recession since the great depression. so of course, that when you are,

you're coming in when the economy is contracting, by nearly 8% when you're losing 800,000 jobs, when you're having the worst downturn since the great depression, of course -- david: let's look at another period. >> just a second. these problems that were already difficult, of course got worse. david: but let's look another period where there was another, let's look at something elsewhere there was another formula applied. during the reagan recovery. from '83 to 1990. during that period, this was the most equal expansion of the economy that we have seen. the bottom 20% grew 11% but the top 20% grew 12%. they both rising, tide lifts all boats. that is what i want to say. what is wrong with that? >> you know, i think i don't agree with the numbers. if you want to see that, there was a period, much more in the end of the clinton administration from '94-99 when you saw everything grow. david: there is lot of disparities in the reagan administration this is mostly a 30-year issue.

david: thanks so much for coming on. >> that's a deal. thank you. cheryl: great interview. another deal to watch. hilton ipo priced at higher end of the range. david: a lost buyers. see you tomorrow. >> from washington, d.c. to the west coast the minimum wage debate is heating up. with some politicians demanding dramatic increases for employees but will you be paying the price? the ceo of a major restaurant chain is here to tell you what it means for the price of your next burger. because even when they say it's knots it is always about money. melissa: another stay, another wage war. san francisco is calling for minimum wage up to 15 bucks.