right? uhh...nope. intuit quickbooks helps you manage your payroll taxes, cheers! with 100% accurate tax calculations guaranteed. ♪. stuart: all right. earlier we asked how many keys are on a standard grand piano? i actually got a little hint on this from one of the producers who said that same number of keys on a grand as in a baby grand, baby piano. 72 in total. what say you? >> 88. ii thought you were going with 88. stuart: i lied the answer is 88. i got a hint, i got it wrong. typical, isn't it. that is it for "varney & company" today. join us tomorrow. "coast to coast" starts now. ♪. neil: read it and leap.

not talking about stocks rocketing ahead the start of the week but interest rates lower today signals they could rocket by the end of this week. two developments watching closely on "coast to coast." jerome powell's two day testimony before congress tomorrow. correlating what could be strong jobs reports numbers on friday. taken together, likely to show a federal reserve chairman likely to keep rate hikes coming and employment number that won't likely leave him much choice. we'll ask congressional budget office director, phillip swagel whether rates combly kate defaults. mick mulvaney on what complicates this president's spending plans. all big events this week. let's get right to it this hour. welcome, everybody, i'm neil cavuto. happy to have you this busy news day monday. let's go to edward lawrence at the white house, everything we're talking about including

spending detail we're likely to get in a matter of days. what are you hearing, edward? >> reporter: president will likely say it is the federal reserve's job to get inflation down. the president not owning up to any part pushing that inflation. i will show you data here. cpi inflation was 1.4% when president joe biden took office. you see where it is today. we're likely to hear federal reserve chairman jerome powell testify tomorrow that we are far from 2% target and hitting, hinting to the fact that we'll have more rate increases as well as keeping the rate higher than markets think. now some market experts concerned the federal reserve lost some credibility with the markets because economists at the fed did not see 40 year record high inflation coming in the first place. >> now we're counting on the fed who didn't predict this. they have lost all, they have lost, all confidence we should have in them. didn't predict it. now powell's going to come out and he has the cpi was robust,

ppi was robust, the pce was robust. >> reporter: white house press secretary consistent refusing to say the president accepts any blame for inflation regardless of the polls. listen to this from last lent. >> are voters just not getting the right message or is there something wrong with the president's policies? >> look first of all there is nothing wrong with the president's policy. this goes into a little bit of covid origins question i've gotten a couple times. that clearly my colleague has gotten a couple times as well. we have just coming out, what the american people had to deal with for last almost three years now, if you think about it, covid, right? >> reporter: blame game is on, within the last few minutes, white house official tells me they will start to roll out now the president's budget that is it going to be released on thursday, different parts of it will start to come out. tomorrow is going to focus on social security and how to first the insolvency of that, neil? neil: edward, thank you for that. want to go to mick mulvaney now,

president trump's budget director for a while, also acting chief of staff. mick, when we get details from the president they're likely to include those unannounced, unspecified tax increases. we're told targeted business and fat cats, that sort of thing. maybe stock buybacks. what do you think the impact of those would be? because there is no such creativity when it comes to reining in spending? >> sure, thanks, neil. the bottom line it is not going to make any difference because it is not going to pass. you're right, by the way, there will be suggested tax increases. the budget is unlikely to have details as to what taxes would be raised. they will simply assume a bunch of new revenue coming in, those are the taxes we'll put on the rich but budget is note a piece of legislation. it doesn't show details of interest, excuse me, tax rates, tax brackets, et cetera. it will simply say we're raising taxes, here is how much money it would generate but it is not

going to happen. the budget is an important document, no question about it, tells you what is important to an administration, where their priorities are but the president doesn't spend money. congress spends money. so the president puts out a budget. it starts the process legally for congress to start doing its budget. really need to look at right away on the hill how much money they want to spend. that is what ties in very neatly to the debt ceiling discussion. neil: mick, i'm curious, when you were budget director obviously you had to sort of lay out the president's budgetary priorities an like, factor in aberrant events, interest rates, inflation, which in the in the beginning were not a big issue. of course they're a big issue now. that must complicate how this white house can forecast deficits, as long and as far as the eye can see but how does that factor into the numbers you crutch? >> that is really interesting insight, neil, what they have to do by law, by practice and by

law is show the next 10 years. so they have to show in the back of the document, in the details very few people read, you read them, i read them, that's about it, they will show future expected ratings of inflation, future expected rates of growth, future expected rates of unemployment and have to defend that. they will probably say inflation next year will be 3%. why? it makes it easier for the books to balance. then they have to explain why inflation will be 3% next year. there will be a lot of details in there, very interesting things they have to defend above the top line of raising taxes on the rich. neil: they have already made it clear, as you know, mick, not to touch entitlements. republicans agreed they won't touch entitlements but you believe the republicans said at least for this fiscal year they don't intend to do so. i have want to address something that has become politicized so many times in so many administrations.

i harken back to 2012, this particular ad was rampant. take a look. ♪ [playing of "america the beautiful" ♪. >> oh? neil: all right. two things i always remember about that ad, showing granny getting thrown off the cliff by a guy who looks a lot like paul ryan. of course the granny herself kind of looked to me, harvey korman from old carol burnett show. i could be wrong. the bottom line was, scared bejesus a lot of republicans talking about reining in growth of entitlement, social security among them. it has always been the their rail of politics. do you ever think that will be addressed? >> i think it has to be addressed. it will be addressed. things in washington, neil, get

not proattractively but fixed reactively. once social security is broken down to 25% across the board reduction, coming in about 12 years, you will have to fix it. it is hard to run on a policy of fixing things because you will be demagogued. ron desantis wroted a lot of things in the budget in 2012 he is being attacked for it by donald trump. to all my republican friends, they need to realize republicans despite the ad, talking about things like fixing social security medicare a large majority in the house, despite his other weaknesses, mitt romney won the 65 and over classification. people get it. they know it needs to be fixed. it is so difficult to talk about it because it is the political third rail and so easy to

demagogue that. neil: thank you, mick mulvaney on all of this. want to go to david nicholas, nicholas wealth management what he makes of all of this. markets, stocks doing well, kicking off this week, david, they could run into turbulence based on a couple of developments what jerome powell said. i tracked it. anytime jerome powell speaks the marketing panic, it is uncanny. friday's employment report might buttress his argument to keep the rates i here than thought. what do you think of this. >> if we cut out the videoconferences we would love it better. there are technical bulls of market. the bulls are in favor. look at 200-day moving average on s&p 500. i watched it closely last week. 3940 is the lined in the sand. it stayed above that now for 30 days. i can give you0 years of data that show you anytime the s&p

trades above the 200-day average stays there for 1days, that has been the start of a bull market. technicals are in favor of the bulls. the problem you mentioned we're in an environment where the feds are still, although slower still raising rates. 90% of the time the feds raised rate they have not been able to slow the height cycle without a recession. there are two camps here we're going to fall off a cliff economically at the end of this year, or, like ken fisher, hey we're at the start of a brand new bull market. the truth is probably somewhere in the middle but for the markets interest rates and the fed what will be front and center that will affect which way these markets go, neil. neil: what about interest rates themselves? of course the 10-year, for majority of last week was over 4%. now under that, not by a whole bunch. and the expectation is whatever rate increases we are to see, they won't be that dramatic. i don't know if that is a bit

too sanguine of you. how do you see it? >> i tend to agree with that. i think the risks for the market is not how high rates go from here but it is really what is the duration of rates. look at rafael bostic the fed president from atlanta, he sees the terminal rate going above 5%. this is key, neil, staying there into 2024. that is what the market is missing. i think you're seeing a lot more fed presidents say that. that is our base case as well. seeing terminal rates get above 5%. you get post-elections, 2024 before we see the rate coming down. we think from the fixed income standpoint you want to stay on shorter end of the curve, what we've been doing on our treasury funds. taking advantage what we think could be a longer rate environment. you're right, risk for rates much higher is lower. the duration that the market is missing. neil: what is remarkable, david, a year ago at this time we hadn't even started rate hikes

from 0%. we started of all times st. patrick's day, 17th. was quarter-point hike. would have never envisioned that a year later. staring at 4 1/2, 4 and 3/4er% fed funds rate you and others think it could go higher. where does this end? >> that is the thing that i think shocked most investors. there is reset coming from the markets neil, what you described is so important. prior to last year there was only one place to go if you wanted to get a good return, that was equities. you wake up today we have all the alternatives. if you told me the first etf we ever launched would be a boring bonn fund but i would think you're crazy. investors are excited for bonds t provides an alternative for the market. where investors are going for steady, security returns for investments. markets will have to prove themselves. why should i go to equities, when i can get 5% on a treasury?

that i think will put a malaise over the market for at least the next 12 to 24 months. neil: to your point, there are cd rates, money market rates, some banks touting figures that are not just quarter percent, third of a percent type of numbers that some big banks offered. these are very attract tougher, four or 5% that can ease a lot of angst. we'll watch how that goes. david, always great having you. thank you very much. >> thank you, neil. neil: david nicholas, uncanny read of these markets. meanwhile the invite has arrived. we now just learned that harry and meghan gotten invites to king charles' core nation. now the question, will they go? that's the drama, after this. ♪.

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go? was the invite meant, hoped from their father's part, harry's father's part they not come? who knows better than charlie langston, "daily mail".com, editor of all things royal. really funny as well. charlie, what are the odds they go? >> honestly i would say right now it is 50-50. i agree with you, i think many inside of buckingham palace's walls are crossing their fingers they do not go. an invitation was extended as a formality. it was so that charles didn't look petty, he didn't look like he was going to get his own back after everything the couple said about the royal family but i think everyone knows that if the two of them show up, it will massively overshadow a moment that charles has quite frankly been waiting for for his entire life. neil: they had to give up their cottage. it wasn't done on their part, dad took it away, right?

and gave it to andrew. even if they want to come, where do they stay? do you guys have a motel six or anything like that? where would they stay? >> we do understand king charles has extended the option to stay inning from moore cottage if they come from the coronation. -- frog moore. it no longer exists as their permanent residence. they can use it if they need to be in the uk for official occasions in order to insure that the whole family remains safe. it is worth noting that archie's birthday is on the exact same day as the coronation. if they did want a reason not to go they could well use that as an excuse. neil: that would be a pretty lame excuse, don't you think? >> i mean, honestly i think when it comes to these two they have proven time and time again they really are more than willing to push the boundaries, to push the

barriers, to surprise us over and over again. i don't think anyone could have foreseen everything they have done in the last two years. somehow they managed to keep shocking no matter what it is that they do. i wouldn't put it past them to hold a birthday party for archie, use that as an excuse not to attend. neil: they don't have any chuck e. cheese's out by you, charlie? that is a big place for kids. they can play with never -- ner balls. i will ask you how this is going, how brits feel about harry and meghan? i noticed a lot of stars, entertainers by king charles to perform at the coronation are not. adele is among them, elton john, others i could be missing. what do you make of that? why are they opting out, usually an honor to be there to attend and perform, certainly case of harry styles, ed sheeran, a host

of others, no? >> i won't lie to you it has been a really rough period of time for the royal family. it has been a massive period of transition for everyone in the royal family and i think that it is still going to take a little bit of time for the royals to overcome this hurdle. i don't think that anything that meghan and harry have done or said in the past two years helped that reputation at all. frankly it is a difficult thing for a celebrity to get involved in. you know, no matter what, your name will be connected not only to the meghan and harry scandal, the prince andrew scandal. being attached to the royal family right now is not the most positive thing and i think a number of celebrities see that. with regard to the british public everyone very much adopted, let it rest, let us move on attitude. nobody want to keep listening to meghan and harry drone on and on and on and rehash the same

complaints over and over again. everyone wants them to quite frankly take the privacy that they say they so desperately want. we're more than willing to give it to you. neil: all right. charlie, thank you. great getting an update from you, when we know more i would love to chat with you. we love your updates. charlie langston. >> thank you. neil: a push in california reparations for descendants of slaves in this country even if they're not directly related toe those slaves in this country. kelly o'grady has more. what is going on? >> reporter: good to see you, neil. there is a growing push for reparations, california is really leading the charge. a first of the nation task force is investigating a variety of reparation proposals. in the most extreme case each descendent would be paid $360,000 up from 220,000 on the last proposal. 1.8 million african-americans in california the most extreme case

could cost the state as much as $650 billion. the task force came to the figure by calculating damages related to housing discrimination, massive incarceration and health harms. not all the proposals provide just cash. many would allocate land as well as programs and services. the task force has until july 1st to submit the final recommendations but this weekend it held a public meeting. hundreds voicing their support for cash payments, grants of land or other compensation. >> there is only one thing, one thing that would stimulate this economy and that one thing is capital, money, reparations. that will stimulate this economy for the 2.6 million blacks in california. >> reporter: it's sentiment echoed by task force members with california secretary of state sharing if california can admit its sins and change the narrative, there is a way forward for states and cities across the nation. but no indication how this would be funded. california already facing a

22 billion-dollar budget deficit which will likely get worse amidst runaway spending on social programs. of course the fear is taxpayers would be footing the bill. some would argue that they had no in the last 400 years. inflation is a problem and is money is the right answer? send it back to you. neil: a good question. kelly o'grady thank you very much for that. meantime china is doing much more than talking provocatively, when coming to defense spending, spending provocatively, better than 7% moves in the latest military plans. a little more than a few years ago china was spending less than $100 billion a year on its military. at the rate it is going this year, close to 300 billion. why? ♪.

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♪. neil: all right. you know the united states spends a lot on its military and no one spends more on this planet on its military more than the united states, north of $800 billion. china has come out of nowhere, closing in on $300 billion of military spending thanks to better than 7.2% planned increase in such spending so they're closing in. it is worrying a lot of folks. is it worrying rebeccah heinrichs from the hudson institute so kind to join us. these figures are hard to extrapolate with china because we can't believe what they're saying but the trend is definitely real they're spending at a pace far greater than our own. the aggragate is still in our favor but what do you make of that? >> it is concerning, neil, and as you said it is hard to make apples per apples spending. the united states spend as

quarter on their people, servicemembers and families. you don't have inflated number on the hard power piece, the weapons. the chinese don't have public sector, private sector in hard terms like the u.s. they have civil military fusion so the entire economy is at service of their military. i would suspect they're spending a great deal more. you're right, the trends are very concerning. the chinese military is working diligently to be the preeminent military in the world and push the united states around and write rules in a way that benefits them to our great disadvantage. neil: it is one thing to talk provocatively and do some of the provocative things that you reminded me china was doing before a lot of the world was noticing, saying nothing about militarizing up the islands in the south chain see they had no right to militarize but they did and the threat to taiwan they agree as to this day, where is

all of this going? >> the other thing really concerning to me not only are they investing in this massive military, highly technically able, much bigger naval fleet than what the united states has, if you're just looking at numbers of ships. they're modernizing of course a all military domains, including space. the nuclear force is in the milled dill of a strategic breakout. the provocative manuevers as you mentionedded neil. they are threatening taiwan. they have been flying within tens of feet of u.s., canadian australian aircraft going near ships, all of us, the united states and our allies flying, sailing in international waters totally lawfully. the chinese are behaving recklessly, not provocative, recklessly, dangerous, because they want to be able to push the united states out. when you think about it, americans have been living peacefully, freely since cold war and world war ii, and through the cold war.

it will be a very different world if the united states is not the preeminent power militarily, economically, and it is chinese. we need to be fully embracing ourselves to really truly compete with the chinese with hard power, this military front as well. neil: rebekah, where you think we're going to war, actually military war, do the chinese think we would go to war if they invaded taiwan? >> that is the big million dollar question. obviously i want them to believe that we would. deterrents doesn't rely on what we think will do. deterrents wholly relies on what the enemy believes we will do. i want peace and the best way to have peace, to prepare for war and convince our adversaries we will not permit them to push the united states out of the indo-pacific region. we'll have a global recession. americans freedom, prosperity, security is at risk. and so this is the contest that we're in. you know, one of my big point i

would say, neil, there is a lot of chatter both from republicans and democrats wanting to cut the defense budget. normally democrats want to do that. you hear some folks concerned about our fiscal security. i understand that. we're not in a time, we're not in a time where we have a chance to do major reforms in the military, acquisition reforms to cut the fat out. we need to be working at a breakneck pace to be investing in the kinds of capabilities to produce the weapons we need at scale, to convince our adversaries it will not work out well for them if they try to contest the united states. neil: to your point history proves every time we tinker with such thoughts we regrate it years later so we'll see what happens. rebecca, thank you very much. >> thanks, neil. neil: all right. rebecca heinrichs on that. we have the congressional budget officer joining us phillip swagel. he is looking at possibility of a shoulddown that could turn to something worse.

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join us now. director, always great seeing you. >> thanks so much, neil. pleasure to be here. neil: let me ask you a little bit about what the president will submit. we know it won't be a budget in balance. it will carry a deficit with it. that is likely to be the case for budgets going forward for year, after year, upwards, seven, eight, nine 10 years or more. do you agree with that? >> the deficit we now inherited is so large it is difficult to reach a balanced budget quickly. it is arithmetically possible but not within the next 10 years. we'll look at the president's budget and wait to analyze its when it comes out. neil: we'll know the president will be talking about the social security insolvency and his own plan to address it but of course he framed this something republicans want to do, destroy social security or take benefits away from working

americans. maybe he is going to temper that a little bit, i don't know, but you separately looked into that issue and saying there are some fixes down the road we could consider to avoid that calamity. give me a couple. >> okay. sure. this is the challenge, i will say first, is that the social security trust fund is exhausted in 2032 in our projections. so benefits will be reduced by about 25% after that time. so doing nothing doesn't save social security. action must be taken. neil: is that automatic, director, automatic, you would ultimately curtail benefits? >> we would need additional $250 billion to keep benefits within this decade. the next decade, it is $8 trillion. that is the hole, 250 billion, 8 trillion just to keep the

current benefits. if the president wants to expand benefits, that would be additional cost. neil: you also talk about, you know, maybe setting social security benefit as a flat amount. can you explain that? >> yeah. thanks so much. so we had a report in december of last year that went through options to reduce the budget deficit. several of them were about social security. we had higher taxes, we had lower benefits. it is important to say we have lower benefits than what are promised but that doesn't mean benefits are actually going down. they will be less than what is promised but not payable. so the option we did there was to have flat benefits. what we did, we raised benefits for people at the bottom, so those most vulnerable in our society, those who depend most on social security, see higher benefits for them, lower benefits for everyone else, a flat benefit. that saves a considerable amount of money while protecting those most vulnerable.

add one thing, cbo doesn't say to congress do this, do that. we have a book with many options a, a wide variety of options. neil: some might be unpalatable to some. but you don't try to as aspersions on one or the other. these are things that might work and up to you, congress. one of the other areas, reduce spending on mandatory programs, if you take away from social security, does that mean take away pro medicare, take away from other programs in the budget beyond these so-called entitlements? >> that's right. that is the kind of wide variety we had. we had options affecting medicare on spending side, tax side. we had options affecting lots of things, lots of taxes, lots of spending. we had a option to reduce national defense spending. i saw your previous guest from the hudson institute, she made a pretty convincing case that we should expect higher defense spending in the future.

we still have the option so policymakers understand what it would mean. neil: when people hear social security will be cut, of course we all remember, i certainly remember the ads in 2012, paul ryan a guy looked a lot like paul ryan pushing granny off a cliff. it is always a political lightning rod. i'm wondering what you're saying in some of these proposals you outline? if you're 50 or over you're safe. at what age are we saying push back the benefits, curb the benefits, how are you playing that? >> yeah. so we try to be realistic. again we start from the perspective we're not telling congress do this, do that we're providing a wide range of options. that is why we do both taxes an benefits. the options we presented did what you said, protect people near to retirement. so people who face the adjustment have time to prepare. the longer you wait to make the adjustments the more difficult

the problem becomes, more costly, the more wrenching are the eventual adjustments. that is the message of what our report says. the current path is not sustainable. the odds that we'll have no problem over the next several decades on the fiscal side are just vanishingly small. they are zero. so action must be taken. neil: we had history of action taken, brave action of that, ronald reagan, tip o'neill, democrat speaker of the house came up with a plan to add decades of life to social security. that plan has exhausted. they're talking about retirement at 70 pour a start, latest, possible, highest possible age to get to social security. when you talk about other people not getting social security, others argued not getting it at all, that might prove a buzzsaw? >> yeah. that would change the nature of the program, right?

social insurance program which every one pays in, everyone receives back. that is, that's the challenge. it may be high income households. retirement doesn't depend on those benefits but they have a stake in the system. neil: you know, i am glad you did this, phillip. other people just talk a good game. you outline it all. controversial, some not controversial but you spell it out with basic math. there is more going out than is coming in. we had 16 people paying in to social security for every recipient right now. that math is getting close one-to-one right now. it is not sustainable, right? >> that's the challenge we face. we have demographic change. we're getting older as a society. and that affects social security and medicare. health care costs are growing faster than the economy, faster than the price of other things. and with an aging society we're going to need more health care, more health care spending. that is driving our fiscal imbalance along with higher

interest. interest payments we face as nation is rising sharply as well. neil: you're the first budget director to attempt something like that. i don't know that if makes you incredibly brave, incredibly foolish, but god bless you for it. phillip swagel, congressional budget office director. we love to have you back on all of this. thank you again. >> so much. neil: meantime here, this has been a big issue for you, not just social security, but the federal reserve, all of this, what they're doing to complicate things, to make things, at least our debt more pricey, more of it. we asked a very simple question right now, what is the right path to fight inflation? higher rates seems to be the only thing we fall back on. we got very interesting responses from will who writes, rate hikes can't supply issues and ukraine war. fed is one tool. no one seems willing to admit and the wrong tool to solve our current problems.

there is calvin who writes i agree with rate hikes in a limited matter. we want to lower inflation but at not the cost of driving consumer prices up and up or by extension the economy down and even more down. then there is this from ability enhancer how does hurting is help us? especially massive people who live paycheck to paycheck. i make under $40,000 a year. this is crushing us financially with a special need family of. that is the legitimate concern that we overdo it. history suggests more often than not the fedof the h often does it. meantime solutions are far and between. jackky dee dee with the "the big money show" a little more than 13 minutes away. >> we talk about president biden and. we have congresswoman nancy mace own the house transportation and

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it is crazy, right now all you hear on the news is about the other train derailment. now here is one here, i mean it is just unbelievable. neil: indeed there has been a second train derailment in ohio, not nearly as dangerous as the one a little month ago still has east palestine residents wondering what is next for them. the attorney general joins us of the state of ohio. attorney general, good to have you. do we know much about the second derailment and how dangerous it is? >> well obviously we're still finding facts. we didn't have the hazardous cargo the east palestine incident did. obviously we're monitoring the investigation on that and, it is concerning that it is the same railroad. neil: you know, norfolk southern has separately said it has come up with a plan to improve safety. now a lot of that came at the

behest of folks like you and certainly of the governor, to say knowing of the administration, the transportation department. can you tell us a little bit about what norfolk southern is trying to promise here? again all of this came with yet another derailment but tell us. >> well, ceo i do everything in his power to put the people of east palestine back in the position they were before the derailment. we'll see. my office will be filing in the next three weeks or so an action in federal court under the circla statute. also adding some state law claims as conditional claims into that lawsuit and it's our goal to make sure that they live up to that promise. as far as the norfolk southern telling us about their safety

program, i'm glad they're working on safety. they need to work harder but i hope that those of us in the public sector might be forgiven for looking beyond whatever they may be propose to see what else might actually be necessary. neil: you know, it seems inevitable, attorney general, that we're going to see a whole wave of new rules and regulations to address safety because technically we're told norfolk southern didn't break any laws or regulations in place, even carrying the hazardous waste it did. that obviously changes but do you think that it changes quickly? in other words, that new rules are put in place, even voluntarily by the industry and companies like norfolk southern with materials they're carrying now? >> well, of course the law creates a minimum. they're allowed to do more than is required by the law.

it certainly welcome. if they did things like tell us about class two cargo they're not required to call officially class three hazard coming through our state, that would be beautiful. nothing is stopping you. as far as reform goes i think it is very important that we recognize that, a, the railroad industry is not the earn my. they are critical part of our economy, move a great deal of freight safely and cheaply. i think it is also important to actual actually look what happened, what were the causes. we're waiting to hear a lot of details from the investigation. there is a lot we don't know. sometimes particularly with the federal government level, the tendency is, don't just stand there, do something, even if it is wrong. we need to do what's right here and certainly we ought to be looking at the regulations and

the statutes and what needs to be updated. but at the same time, let's not just go putting on regulation for regulation sake. neil: got it. david yost, attorney general of the state of ohio. thank you, sir, very good seeing you. >> thank you, sir. neil: all right, before we bump out here have to take a commercial here, we're learning, coming through bloomberg, the jetblue spirit air deal will indeed face justice department antitrust lawsuit. that had been hinted and rumored at for some time. spirit shares are falling on this news. we'll keep you posted. stay with us. you're watching "coast to coast" . dad, we got this. we got this.

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and book your free hearing evaluation. neil: all right, not so fast. a reading from the u.s. justice department and the department of transportation to take action as soon as tomorrow to block jetblue's merger with spirit airlines. jetblue's stock right now is, you know, obviously as you would expect, still the up on in this because, obviously, most traders would expect and not if want it to go through, but if you're spirit hoping this could change your fortune, that stock is down right now. we'll just see what time will say an -- on all of this. mean while, jackie deangelis. jackie: