live. you don't want to miss that. >> gretchen: dave ramsey and joe piscopo. log on for the after the show show. see you later. bill: we have a big morning in store this morning, and what now on your future america? stocks plunging, investors, losing a trillion dollars in one day of trading. clearly, a crisis in confidence, now driving near a bear market here at home and around the world. there's a lot to cover as i mentioned. let's get to it, i'm bill hemmer, welcome to "america's newsroom". how you doing camarota? >> alisyn: i'm alisyn camarota, i think it's fair to say everybody is holding their breath because of this worldwide meltdown, the dow calling 630 points monday, investors getting more and more worried about the economy but still they say they're remaining optimistic. >> there's nothing more safe

than the united states bonds. our government can print money, we have armies, we can raise taxes. but you can't get payback from the united states, who's going to pay you back? nobody! >> i hope people don't panic and give up on the good coes, the companies that aren't that good will probably suffer but they would have, anyway, the companies that are well run and have good profit margins will probably be fine. >> if i hold you to hold on to your stocks no matter what, because history has taught us it will rebound eventually, hopefully that will happen but it just brings down your optimism when it happens. >> we're going to try and find a silver lining in all this, 28 minutes away from the opening bell, futures indicate a pop the a the open but nowhere near the makeup for yesterday. charlie gasparino, good morning to you. a pleasure having you. at the moment, where are we now, charlie? >> it looks like the market is going to bounce back, it looks like investors at the open say we oversold yesterday, down more than

600 points, we may have gotten carried away with ourselves. that's the initial read. we're in no man's land, nobody knows what the future of this market is going to be like because i'll tell you, when the president came out yesterday, and this is key, bill, the president came out and offered much of the same that he said before, to fix the problem with the economy, and this is all driven by the fact that the economy is not growing, it's not going to bode very well into the future and investors are discounting stocks based on that lack of growth. you know, when he came out and basically offered the same old stuff, the market plunged, and that's the problem. it's hard to feel. i will tell you this, you know, i know that u.s. companies are basically good companies, most of them are making money, they're profitable. the problem is is that the future doesn't look too bright and you know, the market discounts the future. it basically says here's what theo what might happen with these companies. bill: here's what i'm looking at. i can throw a dart at the wall and hit the impact of this downgrade, i can hit the banks that are concerned

again or i can aim at what you said, futures growth of. of those, what is it? the gdp number says we're not growing. >> there's never one reason the market goes down. it's a combination of millions of forces, everybody making independent decisions. those are three major forces i believe that you laid out. i think the economy is number one. banks, when banks start falling like this, here's the thing, as you know, i cover the banking prices, back in 2008 i was -- i was involved in that like a war correspondent. i don't see the banks being in the same shape as they were this, except for maybe one and that's bank of america, because they hold countrywide, countrywide was the big mortgage lender, subprime lender which sold all the phony mortgages to people, those mortgages are in bonds held by investors. there's talk that countrywide, b of a, who owns countrywide might have to buy the mortgages back and that's a major hit to the bottom line. bill: the drag from 2008 a still a drag in 2011.

one quick point, we heard that guy say we can print more money and that's part of the problem. whf the last time you went to an atm and had old paper come out of it? the bills come out and they're stuck together. >> any time you make a commodity of something, the price generally goes down. that would be the absolute worst thing we could do. bill many would argue this is a reflection of the u.s. dollar, the strength or lack thereof. charlie, thank you, see you on fbn throughout the day, okay? charlie gasparino. alal as charlie mentioned as the dow started dropping president obama took to the microphone to address the nation for a bit of a pep talk. >> markets will rise and fall, but this is the united states of america. no matter what some agency may say, we always have been and always will be a aaa country. alisyn: well, that speech did not have the intended effect, when the president spoke at around 2:00 p.m. eastern, the dow plummeted even further. so was it something the president said or did not say that sent the market

diving? we're going to talk about that with our financial experts throughout this hour. bill: meanwhile, overnight, watching europe and asia, doubling down on this global selloff, hong kong's hang seng tumbling about 6 percent, tokyo's nike cea, average, falling about 2 percent in markets overnight. >> it's a complete meltdown, it's like the financial crisis or the financial tsunami. there is a complete loss of confidence. bill: economists blame ago double whammy on the dow's freefall, china announcing a big spike in inflation. watch all of that as we move throughout the day. alisyn: back home, democrats continue to blame the tea party for the s&p downgrade, ahead of the democratic national committee, congresswoman debbie wasserman-schultz taking to twitter to agree with senator john kerry, among others, who called the tea party out for blocking a more comprehensive deal on the debt ceiling. tweeting, quote, truer words never spoken, senator john kerry, on "meet the press",

this is without question a tea party downgrade, tea party tyrants block big deals. bill we're going to debate that with a terrific panel. on the other side, senator john mccain saying people are missing the point of the downgrade. he was talking at a town hall in his home state of arizona. >> these are very difficult times. and we're paying a very heavy price for spending that has put us into a situation. i'm not a huge fan of standard & poor's, they are the ones that gave the mortgage market aaa status, as you might recall, and we're hardly wrong in that assessment, but i do not think we ought to shoot the messenger. what the message is is that the united states' fiscal situation is unsustainable. >> as opposed to house republicans, mccain saying he disapproved of those who were pushing for a balanced budget amendment before they would act on the debt

ceiling, that from arizona. alisyn: fox news alert for you. as a 26-year-old man dies, marking the first death since violent riots erupted in the u.k., all of the police holding cells in london are now full, chaos reigning for a third straight night last night, and it is apparently spreading to more cities. more than 500 people have been arrested, in what's being called the worst unrest there in decades. looters apparently taking advantage of the chaos, and now the prime minister is tripling the number of police and calling parliament to back from its brace. amy kellogg has the latest from london. what happened last night, amy? >> reporter: hi alisyn. as you basically have stated, there's a sense that people -- there's a sense that police are really losing control of the capitol. i want to show you, alisyn, the front page of one of the newspapers here, this picture, if you can see it, is on pretty much every newspaper today. alisyn, this is a woman, jumping for her life,

jumping out of a burning building, rule of the mob. police lose control of the capitol. this took place in croyton, sort of a peripheral neighborhood of london. that was probably the worst hit last night. that is where that 26-year-old man was shot in uncertain circumstances, and you may be looking at pictures now, flames, of a family-run furniture factory on fire, a factory run by one family for generations. let's take a look at the map of where these riots have been breaking out. again, they're peripheral neighborhoods, croyton -- croy don, clapham, hackney, but some got to the center of london, they broke into a mich len-star restaurant in notting hill, the kitchen staff had to defend diners

are sharp utensils, peoples' wedding rings were yanked off them in a part of london that would have otherwise felt safe and these riots spreading to other cities such as birmingham. mostly it's been looting but there have been instances of rioters breaking into peoples' houses, attacking people who are trying to help some of the rescue crew, but for the most part, this is looting, looting, and looting, alisyn. we just came back from eeling, spoke to a woman who had a charity shop, proceeds to go to orphans -- it's heartbreaking. alisyn: it sounds like, correct me if i'm wrong, the protests started in these poor neighborhoods but have now just spread like the fire that we're seeing here to all sorts of neighborhoods and now are opportunists jumping on this? and what are the politicians going to do now? >> alisyn, people have been heard saying come join the

fun. a lot of people say this has a lot to do with economics, dislocation, a feeling of disenfranchisement among youth whose community centers are getting shut down in austerity cuts and austerity measures, but really, there's a sense this is just a rampage, that this is something that the young people are getting off on. and the u.k. is not -- does not use water canons and tear gas on these mobs. you look at this and think they need to get tougher with these guys. david cameron, the prime minister, said he's looking for a more robust response from police, but we don't know yet, alisyn, what that's going to be, back to you. alisyn: amy kellogg, thank you very much for explaining that to us. it's incredible. bill: the rubber bullet threat is out for later today because the police are saying they cannot control what's on the streets and how you go into another overnight of rioting -- prime minister is calling back members of parliament, come back from the august

vacation. alisyn: they're going to have to ratchet it up. bill: we're going to get back there as nighttime falls. some of the other stories, we had to pass it to see what was in it, right ali? a new discovery in the health care law that could cost taxpayers hundreds of billions of dollars more. also -- >> alisyn: what is rick perry up to? fueling speculation that he's jumping into the race for the white house, could the texas governor make it official this weekend? >> bill: also a manhunt across the country for these three siblings, police warning they are well-armed, ready to kill, if need be. >> we know they have an arsenal of weapons. if you're a law enforcement officer, please use caution, remember, these three are very dangerous, they will shoot at us, they'll shoot at our citizens, use everything you can to be safe out there, and remember, if you engage them, you'll be going into a battle.

alisyn: it's a somber day as the bodies of 30 american troops, most of them elite navy seals, are on their way home, they will arrive at dover air force base in delaware later today. u.s. service members killed saturday in the single deadliest attack of the afghan war when their chopper went down during a raid in the wardak province, among the dead, navy seal nick serhar, from a small town, like so many others, grieving over the heartbreaking loss. >> he gave 100 percent in high school and he gave

100 percent to our country. >> we will support the spehar family now in their time of grief and really support all of the men and women in our military that are involved in mission work on our behalf. and that's what our communities ought to do, and we must do that. alisyn: there are about 200 members of the navy seal elite team. so obviously, losing this many is such a blow. bill: now we're getting stories that perhaps they were lured into some sort of trap in this valley southwest of kabul. jennifer griffin is reporting on that a bit later this morning. >> okay, cheerio, people, billions of dollars turning up in the health care overhaul, a new study is out and an oversight study says the budget overhaul could cost another $50 billion every year. john, good morning. >> pleasure.

bill: you think? i think we're about to find out whether it's a pleasure or not! what does the study conclude, john? >> remember speaker of the house nancy pelosi said you have to read the bin laden care will to find out what's in it. now we're finding out what's in it. it turns out the bill expands federal sub des for a lot of people in the middle class to get health insurance. it sounds like a good thing. the problem is, the subsidies are going to be so large it's going to be an incentive for employers to drop health care coverage. what this new study shows is 35 percent of people who get the subsidies are drog too going to drop coverage and go into federal exchange programs, that means federal money and not only will they get the subsidies but their spouses and children and relatives that means the cost is probably underestimated by $50 billion. bill: so the spouses and children, the way i understand it, according to this study, they were not counted. >> exactly. bill: in other words, if you were trying to put an estimate on the law, perhaps

you counted half as many people that would need it, instead of three in a household, it's six. do i have that right? >> right. the congressional budget office made the estimates but it's sort of like a computer, garbage in, garbage out, congress at budget office was told by the democrats these are the parameters by which you estimate, they didn't include the spouses and extra family members, so congressional budget office came out with a lower null and this is typical of what happens with federal programs. medicare, when it was first founded in 1965, was estimated that today, it would cost $12 billion. well, the original medicare is not $12 billion, it's over $120 billion. bill holy. that was 45 years ago. and the estimate was $12 billion? >> they missed it by a factor of ten. bill: that is remarkable. so you say that the democrats who are writing the law told the cbo what to score, come back and tell us what it would cost. >> exactly. bill: so clearly in your estimation, based on the study, if this is accurate,

they were told to score a much lower number that would need the benefits. >> right. and i don't believe there was any mal lev lens, i think it was an honest mistake but if you put in parameters that reduce the cost of a program, then discover that lots more are eligible, it blows any possible consideration that omabacare is going to save us money. remember, it was sold, this is going to lower health care costs, it's going to save us money. it's looking increasingly clear it's a pipe dream. bill: you were saying this was an honest mistake? you think that? >> there is no evidence that people consciously told the cbo, you know, we want to exclude these people in order to low ball the numbers, there's no evidence of that, but clearly the result is lots more money being spent and a lot of people wandering around saying it's not my fault, not my fault. once again, we have to hold someone accountable for this but there's no one bearing the blame. bill: bigger picture, every week if not every day we're finding more stories like

this. why is that? >> because all federal programs are like this. in order to sell the program you make assumptions that will tell people it's going to be fine, it's going to be fine. it's like a late night infomercial, everything is fine with this product, you don't have to pay anything for this product, but shipping and handling. bill: as a major charge! john, thank you for coming in today. we're going to watch this, okay? a study out of princeton, new jersey. alisyn: there's a nation wi manhunt, still, for these three siblings accused of brazen bank robberies, among other things. we now have the shoot them up, dash cam video that looks like it's ripped from a movie. >> the beating of a popular singer in new york city, before getting inside of a late night cab last night. how is he doing today?

alisyn: the week-long nationwide man hunt for the so-called doherty gang is heating up, a dash cam video showing the wild chase and shootout between the trio siblings that police say have a death wish. phil keating is live with more. are police getting any leads yet on these three? >> reporter: nothing that they're sharing beyond the trio possibly having been spotted crossing the state line from georgia to tennessee over the weekend, around the chattanooga area, but electronic billboards with all three doherty siblings' mug shots are being posted as far west as texas, as far north as new york. this is the dash cam

videotape by jeffer hills police yesterday afternoon, all in hopes that somebody will help find this vehicle, it's a white sub are you impreza, it's a high speed five minute chase, 100 miles an hour and the officer says inside the car he's chasing two of the siblings turn around, one with a rifle, one with a pistol, shooting up to 20 bullets back at the cop car and it did not hurt him but did shoot out a tire. cops are hoping this video just helps find them. >> after watching it again, every time i watch it, it brings chills. they're dangerous, we need them. >> police are saying they expect a gun battle. they don't think it's beyond far fetched. two is-year-old ryan doherty, the youngest of the three siblings, cops believe his experience with law enforcement and the judicial process is probably what

started this. last week he was sentenced to ten years probation for sending harmful images to a minor, reportedly that was more than 400 e-mails, sexually explicit e-mails, that he sent online via my space to an 11-year-old girl. alisyn. alisyn: it sounds like all of the siblings have been in an equal amount of trouble. we'll explore that later on with the sheriff in the area. phil, thank you very much -- phil, thank you very much. bill: all the pictures. they have been elusive. breaking news now. we are only minutes away from the opening bell on wall street, and how are investors going to react, only a day after one of the largest selloffs in history? the best business coverage in cable is coming your way in minutes, ali. alisyn: the rumor mill is working overtime. what is rick p.y up to this week? we are about to find out.

bill: 28 minutes past the

hour, some of the stories this hour, 25,000 getting the go ahead to go home in japan, the japanese government decided to lift evacuation orders near that nuclear plant swallowed by a tsunami four-month the ago. extreme dlowt conditions -- drought conditions gripping texas, that's a lot, the worst state record on drought. call it the new gold rush, gold hitting a record $1778 an ounce yesterday, concerns growing over the value of the u.s. dollar, the debt downgrade, economic woes in europe, a new target on gold, some say, $2500 an ounce. alisyn: fox news alert. because we are now seconds away from the opening bell on wall street. what will happen today? economic fears, driving stocks down worldwide, and investors are now reacting here at home. let's bring in our business panel, jerry -- gerri willis, anchor of the willis report on the fox bit network and stephen moore, senior writer for the "wall

street journal". welcome to both of you. let's see what's going to happen today. we're 15 seconds away. i know you don't have a crystal ball -- there is the bell. they are off. gerri, what is the conventional wisdom of what will happen today? >> we have more conventional wisdom, futures trading, it looks like a stronger opening, which is good news for investors and traders who suffered through a blistering 600-point fall yesterday. really painful, alisyn, and a lot of fear in the market. alisyn: i want to talk about what happened yesterday. when the president took to the microphone to try to assuage some of the fear in the global markets, the stock market then fell 400 more points. what was that about? >> i just think what he was saying wasn't very reassuring to investors. he wasn't saying we're going to get this debt under control. it was more kind of partisan pointing fingers at republicans, and there's more and more a sense among investors that this president doesn't know what to do next, that they've kind of tried everything in their keynesian play book

and it's not working. but i will say this and i'd love gerri's reaction to this, it looks to me like stocks are cheap and i'm thinking about getting back into the market because of these very low-priced earnings ratios right now. alisyn: gerri, what's your response? >> steve has got a very good point here. it looks like the s&p, 500 stocks trading on average, 15 times earnings, that's considered pretty cheap. we have bargain hunters come in here, start to look at things that are trading at low multiples and that means they're cheap compared to their stock price. i've got to tell you, remember, s&p 500 had a fantastic quarterly report, they were up dramatically, they really have earnings now, fundamentally, they look pretty good, but if you look at their stock price today, i'm telling you, just cratered. so watch for those bargain hunters. alisyn: stephen, yesterday when the president spoke, he said something that should have been comfort believe to people, he said we will always be a aaa nation. >> yes. alisyn: but somehow that didn't resonate with people.

should he have said something like we will work to get our triple -- aaa status become? >> he should have but i agree with the president on this, we are a aaa nation. i've always thought it was absurd our bond rating fell and by the way, our interest rates are lower than many of the countries that are rated aaa by s&p and in fact people have been buying treasury bills, they haven't been selling then. so there's no indication that the downgrade is really what triggered this selloff, although there is kind of a fear that we just can't get our debt under control, and in fact, all the president has been talking about is maybe more stimulus and more debt spending to try to get the economy roaring again. alisyn: gerri, what of that? is it possible we'll see another stimulus package? >> federal reserve today could be talking about qe3, that would be a big boost to the market but i got to tell you, there's really not much the federal government can do and that's why the market sold off dram dramatically yesterday.

we're worried about growth, where the economy and we know the government is not going to be at our back. we have to find our way out of this morass, ceo, people who own small companies, we've got to work out of this ourselves without much help. >> can i say one thing? about the -- about qe3 which gerri was mentioning, that's one of the reasons gold is approaching $1800 now. -- $1800 now. investors are starting to look at paper currencies in the united states and elsewhere and saying you can't create prosperity by just printing money and think the more money they print the higher the gold price gets. that's why i've always thought gold was a good buy, but this idea of continuing with more stimulus spending when we're borrowing a trillion and a half dollars, we borrowed 4 1/2 trillion dollars over the last three years, it's almost like saying you know, gerri, if your bond rating was just reduced and your credit rating was reduced and you said okay, i'm going to go out and take another

mortgage. it doesn't make sense. >> absolutely right. we have to get this debt under control, $14 trillion, equal to the size of our entire economy, entire economic output. it's not sustainable, i think people are very concerned about that. the administration has come up with a plan to work that out, congress has to come up with a plan. we are still waiting. i thought monday we would hear members of congress come out and say hey, the time is now to come up with a serious plan. they did not. alisyn: on that note, we will leave it, we are up 123 points. we'll leave it on a positive. gerri willis, stephen moore, thanks. we'll see what the federal reserve says after their meeting. what do you think? how concerned are you about the great stock drop yesterday? log on to fox news.com/"america's newsroom", take your daily poll, vote online now, we'll bring you the results later in the show. bill: that is remarkable -- that was remarkable in new york yesterday. we had such a drop and so few were talking about it once you left work. it was almost like we've

been there, we've seen it. >> alisyn: i think that's what it is. bill bi-it's bad. don't remind me about it. alisyn: i think we've gotten used to the roller coaster ride, and let's hope today that the ride -- that the roller coaster cart chugs up the hill. bill: what a shame that we've gotten used to it. okay. we'll see. open for business. now to four days, and a key republican straw poll in the first caucus state of iowa. there is a name not on the ballot that could become a big story on saturday and karl cameron has that -- and carl cameron has that. it must be iowa! what do you expect from rick perry, the texas governor, this weekend? >> reporter: well this, weekend he's got an appointment, a long scheduled event in south carolina to take part in a red state blogger's convention. he literally -- literally scheduled it months ago but coming on the same day as the straw poll, it's coming up. perry's campaign in waiting has said for the last month or so that he would

accelerate and make a finaldation within a week, ten days of the straw poll and their biggest hurdle was getting his national day of prayer, prayer for the nation in houston, taking care of this past weekend and that they consider to have been a success and now done, things are really accelerating. the top aides to mr. perry say he will not announce his candidacy on saturday, but as he has with many, many visitors from across the country who have been going down to austin to meet with him about money and logistics and political strategy, he will encourage them to get ready and express his intentions, and his desire to seek the presidency. it is also a day, the day of the straw poll, that perry will not only visit south carolina but also travel to the primary state of new hampshire. that is a very clear sign and perry aides have suggested he'll then in a matter of a day or so head off to iowa and come here, home of the first caucuses. the governor of texas doesn't need to come to

these three states unless he's serious about running, as they've said he is. bill: quick analysis, if he does enter, what is the effect on mitt romney, michelle bachmann, carl? >> >> reporter: potentially profound. mitt romney is obviously the national frontrunner and just yesterday, he referenced there was a poll recently that suggested he was the only republican who could beat president obama in the state of texas. in june, there was a ppp, democratic leaning poll that suggested indeed mr. romney had a five to eight-point advantage on the president and rick perry the incumbent governor down there would actually be in a statistical dead heat. perry has pushed hard with the christian evangelical politics with a prayer rally this weekend whereas romney is a mormon and there are conservatives particularly in the south that have issues with that. it will affect romney's campaign quite directly. and michelle bachmann who has positioned hrs as the firebrand conservative in the field will immediately see impact from perry because at least in the early stages, as he's not

yet a candidate, polls suggest he is rapidly ascending, and once he gets in he'll face tough questions as all candidates do but the buzz continues to grow for the texas governor and they're waiting for him in the first of the nation states, iowa, new hampshire, south carolina, the very same day of that straw poll. bill bi-it's good to -- it's about to get interesting. thank you, carl. alisyn: presidential hopeful michelle bachmann telling voters in iowa how she would have handled the u.s. credit downgrading if she were president. let's listen. >> if i were president today, i would call all the members of congress back into washington, d.c. and i'd say this, look, we are going to get this aaa credit rating back and this is what we're going to do first, we're going to tell the market that is there will be no default on the debt, we will make sure all the interest payments are made, second, we'll tell our military in no uncertain terms they will get their checks and number three, we would make sure that all senior citizens would know they aren't going to be

scared anymore, their current benefits on both medicare and social security will be paid. however, from there, with all the members of congress, i would let them know, the time for entitlement reform is now, not in the future. we have to have entitlement reform now. >> alisyn: bachmann has blamed president obama for, quote, destroying the u.s. economy. and be sure to tune in thursday night when president candidates square off in ames, iowa. fox news channel, the washington examiner and iowa republican party are co-sponsoring this debate, bret baier hosts the action which starts at 9:00 p.m. eastern, right here on fox news channel. bill: must-see tv. full coverage friday morning by the way, too, here. singer gavin degrall recovering off a vicious beating on new york's lower east side. he had just left a group of friends around 4:00 in the morning when he was beat been by a group of attacker, afterwards the 34-year-old

singer, stumbled in the -- in the street, hit by a cab. he was not seriously injured but did suffer a broken nose and cuts to his face. lis are not clear what led to this attack. you were with him just -- >> alisyn: well, he was on fox & friends weekend, he played a great song, in love with a girl, a wonderful song. oes a supernice guy so we're pulling for him and hope he makes a quick recovery today. bill: when we get a condition update from the hospital, we'll pass it along to viewers at home. >> he spoke and stocks plunged, did president obama's debt pep talk go as planned? is it something he said or rather, not say? a fair and balanced debate with a great panel on that. alisyn: and more than $14 trillion in debt and gridlock over what to cut, why is the u.s. sending millions of taxpayer dollars to china?

alisyn: we have breaking news out of syria, army tanks are storming villages outside of the city of hama.

>> it just goes on there, this, as well as two other towns that border turkey. we understand that president bashar assad's regime will hold talks with turkey's prime minister. two were killed last night but at least 10,000 people are believed to have lost their lives in syria's five-month-old uprising. bill: about 15 minutes before the hour now. it was three days since the downgrade when president obama talked about it publicly for the first time monday. what about the pep talk, did it work? the markets as you see on the screen taking a steady plunge after his comments were complete. rich lowry, national review editor, fox news crib to, mary ann marsh, former adviser to senator john kerry and democratic strategist. how are you two doing! you guys were all over it

last week! thank you for coming back, first of all. what was the intent of yesterday's address, rich? >> and do you think the white house expected a different outcome? >> well, i guess it was to reassure the markets. it obviously didn't. in obama's defense, because it was a downgrade on his watch the stock market had already lost 400 points before he spoke but it kept on shedding territory after he spoke. the fact is this is the same old tired talking points we heard throughout the objective date and it's not adequate to the moment and not showing leadership. if he really wants to lead he should come out with specific proposals to control entitlements and that's when he resolutely refuses to do. >> bill: mary ann, as a democrat, were you expecting more? >> i was. and i think politically, the job for president obama yesterday was not only to give confidence to wall street but also main street and that's the real problem here. americans in this country have lost confidence in wall street and in washington and

that's what has to be tackled here. actions speak louder than words and the time for action is long past for the white house and congress. president obama should have focused more on jobs, should have called for congress to come back. he also should find every executive order possible to get people back to work and fix this economy and sign it without congress. harry reid should call back the senate, nancy pelosi should call on boehner to bring back the house and they should get back to work and if they don't they should show up anyways and remind people every single day they're the ones trying to get this country back to work, not the republicans. bill: mary ann, i've heard a lot of voices on the left, in the first few hours of this day, similar to yours and the president was at a fund-raiser last night. you bring back congress, what do you get done with that? >> either way, if congress doesn't get anything done and we saw the great toll it took in the polls on congress, there's a debt debate, where now 82 percent of the people in this country think congress is doing a poor job, if they

don't get the job done, you know what, you're not going to have a job in 2012, you'll be in the unemployment line in 2012 and you deserve it. if you do get something done, it's good for the country. bill: what mary ann is disappointment. >> sure. this is the prorks you can't create jobs by executive order. if that's all it took it would be easy and every president would just create 2 percent unemployment rate with a stroke of the pen but that's not the way the economy works. all washington can do is create the structure and the sound framework for growth, and this president has refused to do this. he came into an economy that was disastrously overleveraged in all sorts of ways because of the housing bubble and financial crisis and what did he do? he overleveraged washington even more, he overspent, he added to the debt, now we've paid the price, with this national humiliation of losing our aaa credit rating and what does he do, he comes out and gives a speech that's exactly the same as all the other speeches. mary ann is right, it's time for action, it's time for this president to put serious proposals on the

table to control entitlements but he won't do it. bill: here's what i think is the next ripple in the story and that is what is the next best idea, or the next big idea? and where are the ideas from the left, mary ann? >> well, there are plenty of ideas out there. number one, i agree with rich, entitlements should be on the table but so should everything else. let's close the loopholes. and do you think warren buffet or mark zuckerberg needs social security? >> bill: that's a drop in the -- you know -- the superrich, that's a drop in the bucket to what you're saying. >> my point is -- >> bill: your point is well taken. this is what john boehner said late yesterday in reaction to the white house statement. he said we passed a budget that would spend $6.2 trillion less than the president's proposal. we passed a cut, cap and balance plan that would save trillions of dollars, and with the budget control act would pass a meaningful downpayment on decifit reduction, all without tax

increases. so rich to you, what is the next big idea? >> well, i think the big idea is basically what paul ryan has talked b. controlling entitlements, then doing a big tax reform. mary ann is actually right, absolutely right, i agree with her, we should talk about means testing these entitlements. supposedly that's something discussed behind doors between bain and obama but barack obama is the president a -- president of a country that has a serious debt crisis. if he's talking about those things behind closed doors, have the bravery to put them on paper, campaign for them around the country, let the c -- cbo evaluate them and let's have a debate about them. that's what he refuses to do because the left of the party will go absolutely crazy. bill: i'm sorry, go ahead. >> to rich's point, all of that happened in the last deal on the table that boehner walked away, from 4 trillion plus in cuts. >> where is it on paper? make it public. >> boehner walked away. it is public and that's the problem. >> no it's not public. have the president write it down.

>> everybody knows it. >> not everyone knows it. >> everybody knows it. >> no we don't. >> it would have avoided a downgrade. >> say this is my proposal, go on the bus tour and advocate for it publicly. why not? >> it would have avoided the downgrade if boehner took the deal. bill: i apologize for the disruption but this is a debate that needs to be continued and we will. thank you. alisyn. alisyn: voters in wisconsin are heading to the polls deciding whether to oust lawmakers after the state's epic budget battle last year, but there is a lot more states than just wisconsin. why this is a major battle of the 2012 election. bill: we are learning more about the investigation of the death of more than 20 elite navy seals from the pentagon. that is live in moments.

bill: a mysterious orange goo off the northern coast of alaska now has an

explanation. what you're looking at is a large mass of microscopic egg, but i don't know how we can see it if it's microscopic anyway! what kind of -- kind of animal? the experts are not sure, scientists ruling out the possibility that the eggs might be toxic but to find it, alisyn, you got to go way up in northern alaska. alisyn: you say goo, i say calf arrest! that -- caviar! >> bill: dinner, then! >> al voters heading to wisconsin in what some are calling a major bottle in the 2012 election, six gop state senators are fighting to keep their seats after that budge battle that ended collective bargaining rights for public workers. peterrorer doocy is live with more. -- peter doocy is live with more. tell us what the turnout is expected to be. >> reporter: presidential election size alisyn if you

ask the gop state senate leader here. in the last century in america there have been 20 recall elections and 13 lawmakers have ever been recalled. today in wisconsin, six republicans are facing a recall. if the democrats can pick up just three seats, they will also pick up control of the state senate here in wisconsin. they're trying to turn back the controversial scott walker budget, the governor here who passed it through despite much protest a few months ago. they're getting a lot of help from the outside, a lot of money, $30 million has been spent between the republicans and the democrats on these state level campaigns in the last few months and if you ask the gop here they'll tell you it all comes down to unions versus republicans. >> we have had literally the air waves have been bought up by the unions in an effort to persuade wisconsin voters to take a look at what we did in the area of the budget, balancing the budget. >> reporter: but democrats are saying that republicans

got a lot of outside help, too, from big businesses who don't care what happens in wisconsin. listen: >> we're up against some very, very difficult entrenched corporate powers that have taken over not just politically in wisconsin but nationwide. what we've seen in wisconsin is just the beginning of our own citizens' attempt to take back our government. >> reporter: so the democrats think they've actually got what it takes to pick up the three seats they would need to pick up the majority in the state senate here, republicans don't think that's going to happen but even if the democrats are able to pull that off they might not be able to hold on the majority alone but next week, two democrats face a recall, so it could be musical chairs at the state house in madison in the next few weeks. alisyn: it really sounds like it. we all remember the raucous protests at the state house there. we'll see what happens in this chapter today. peter doocy, thank you. bill: we are learning more about what happened to those

brave seals in afghanistan, did they fly into a taliban trap? they robbed the bank, shot at police, a family of fugitives, said to be armed and dangerous. where are they today?

bill: fresh new hour, a fox news alert after a miserable monday, what is starting out as a bit of a rebound so far. will it last? up 160 now, one day after the sixth largest single day loss in the history of the dow 30. brand new hour, and where are we headed now? i'm bill hemmer, good morning to you and good morning to alisyn. alisyn: we're headed up for the moment, that's good! i'm alisyn camarota in for martha maccallum. we are expecting turmoil in the markets after the downgrade of the s&p. yesterday it started slow but it finished with an epic swan dive. bill: president obama insisting america will prevail. >> i know we're going through a tough time right now. we've been going through a

tough time for the last 2 1/2 years. i know a lot of people are worried about the future. but here's what i also know. there will always be economic factors that we can't control. earthquakes, spikes in oil prices, slowdowns in other parts of the world. but how we respond to those tests, that's entirely up to us. bill: up 155 at the moment. it is positively wall street. for now, neil cavuto, senior vice president and managing editor of fox news, good morning to you. here's what we're trying to figure out. was this a classic case of overselling? or did the concerns about our economy and the world's economy trump everything at the moment? >> i think the latter, bill. we're not out of the woods yet. we're only 31, 32 minutes into this trading day. so we're a long way from saying this rally holds. to show you how volatile these markets are, futures were within a 350-point

range. i don't think i've seen that to this magnitude, through any crisis, even around the time of the meltdown three years ago. but having said that, you take what you can get, and right now, we're doing this in large part, not having anything to do with watching it per se, but a particular individual in washington, what he might say at 2:15 today, that is not john boehner, it is not the president of the united states, it is ben bernanke, federal reserve head is going to be talking about things at 2:15 p.m. normally the state of the world remarks tend not to get much press outside of nerds like me but this time, there's talk he might come in, guiding the market, and essentially print a lot of money to calm the savage beast. bill: printing money, is that the answer? >> i don't, billy. you and i have chatted about this before. yougy the nicotine fix but realize i still have a nicotine fix. so i think wall street collectively hoping that uncle ben rides in and comes

to the rescue with something like this, you've heard a lot of talk about quantitative easing, there are even nicknames for it, qe2, qe2, we'll see a version where the fed dives into the market respect buys a lot of treasury, notes and bonds and goes earnings everyone is happy. these are short-lived events and i must stress they are short-lived events. the market will take what it can get but it wants something from helicopter ben. bill: looking for ideas in the meantime. ink is not the idea. >> you're right. you're right. bill: right? neil, thank you very much. >> sure. bill: good to have you back today, neil cavuto. check out neil, "your world", he'll have the day's coverage at the closing bell and then again, 6:00 east coast time, fox business network, the best business team in the business, right here on the fox news channel. check this out quickly, the doss low -- dow lost 630 points on monday, that's 5 1/2%, last thursday, it lost 512 points, about 4.3%, the

largest one-day point loss in history, september 29th, 20 08, with a fall that was to forget, 777 points to the downside, just about 7 percent of the dow 30 index. historic. alisyn: it's ticking back up at the moment. there are new calls for treasury secretary tim geithner to step down and fast. many republicans say he shares the blame for the still crippled economy and america's credit downdwraid, here's chair of the republican national committee on fox nf friends this morning. >> we're saying get rid of the president who's in a constant state of denial, but we have a treasury secretary who's overseen polices that this president has put in place that have just made everything completely worse and turned our economy into a disaster. alisyn: over the weekend the white house announced that geithner will be staying put through the 2012 election. bill: democrats blaming all this on the tea party for refusing to budge on that debt deal.

republicans, including the former most is adviser, karl rove, saying that president obama has failed to lead through this economic crisis, from o'reilly last night. >> the most important thing a president has is the image of being a strong leader. a strong leader offers up ideas, a strong leader provides vision, a strong leader says let's work together and i'm going to put the politics aside for the moment, a strong leader takes chances by doing the right thing. we've seen none of that from this president. bill: there is a whole lot more of that. what do you think? how concerned are you about the great stock drop? foxnews.com/"america's newsroom", cast your vote online. in a moment, actually, right now, 51 percent it will go back up. alisyn: there you go, optimism! >> bill: it means a little less than half believe it will not. log on right now, cast your vote. alisyn: fox news alert for you now. the riots in london are taking a turn for the worse, violent new images coming into the newsroom, people setting buildings on fire, smashing windows and looting shops in and around the

capitol in a desperate attempt to stop the violence, london police stepping up their presence and even considering using plastic bullets to disburse massive crowds. kay burly is tracking the chaos. >> reporter: we spoke to the prime minister a short time ago, he was also meeting firefighters. that was important in south london. they certainly have had attacks over the last 24 hours again, maybe 24 hours. and a factory there was destroyed, the family couldn't get there quickly enough, they were anxious about their own safety, they needed backup, by the time they got inside, they had smashed the window and torched the place. completely went up. five generations of one family. the whole business has been destroyed. the prime minister, aware of that, flew in overnight,

breaking into his holiday in tuscany and offering words of thanks to the firefighters and words of support for those who have lost their life's work. sixteen thousand officers are on the street. we're hearing 6000 officers last night. so a significant increase. alisyn: at least one death has been linked to the riots and we are closely following this story. we'll bring you developments as they happen. bill: in the meantime, a somber day for the nation and families of 30 american troops killed on board a helicopter in afghanistan. this morning, their bodies returned home. among them, u.s. navy seal aaron vaughn from virginia, father of two who loved his familiar me -- family and loved serving his country, too. his widow remembers their short life together. >> it's funny the things you remember. the smell of their skin. the way they walk. you know, just come in the door, and put their keys

down. those little things, i'll miss. i just remember him climbing into his truck and telling me he'd see me soon. and how much he loved me and the kids. so i'll always value and cherish that moment, the last moments that i got to spend with him. bill: what a sacrifice. jennifer griffin is at the pentagon and jennifer, good morning to you. the bodies come back today, smart? >> reporter: that's right. they've not landed yet at dove e. i'm told. there will be a high level delegation to meet them later today. among those who will be there will be secretary of defense leon panetta and admiral mike mullen and his wife, deborah, also the chief of naval operations, admiral gary ruffhead. the pentagon is not allowing press to go to dover to see the coffins as they return. you'll remember they did change that policy under secretary gates and did

allow press to start -- to meet the planes but they're not allowing it. here's a statement from the pentagon as to why press won't be allowed there, they say due to the catastrophic nature, the servicemen will be returned in unidentified status until they can be positively identified by the armed forces mortgage area affairs office at dover. they've not identified those returning today. bill: i know you're talking to people there at the pentagon and also overseas. what can you add to the possibility that this helicopter was lured into a taliban trap? >> reporter: well, what we certainly know is that the army rangers on the ground in tanke called in for this immediate reaction force. the seals were part of that reaction force. the question that is are going to be raised are why was such a high level seal team used as an immediate reaction force, were they the only ones available, why

was a ch-47, standard chin ac, used, why did so many pile on to one helicopter when sources tell me that special operations forces use special helicopters from the air wing. all these questions will be asked and the investigation is beginning just now, bill. bill: what a sad ending. thank you, jennifer griffin. ten minutes past the hour. alisyn: there are terrifying moments outside a state fair with chilling nine # one calls. >> my mom just got attacked by a flash mob. alisyn: what sparked this riot in wisconsin? bill the dow is up at the moment, what could it do to say or turn it around, if anything. alisyn: making crime a family affair, three siblings on the run from police. today, the dash cam video from a wild shootout with a

covment we're going to talk to a sheriff who's hot on their trail. >> we want the dohertys to turn themselves in. we want a peaceful resolution to this. if there's anybody out there that sees them or a family member or anybody who knows any information, please notify us.

bill: some horrific mom, a state fair in milwaukee, wisconsin, a sudden eruption of mob violence that is displayed now in the newly released 911 calls that tell us a lot about the horror

that happened there. >> seven other cars, they just opened my door, and pounded my friend in the face. >> her eye is like bleeding. bill: there's a lot more and it's not clear what sparked the chaos, witnesses say a dispute over race may have been a factor, two dozen people, at least seven officers said to be hurt in milwaukee. alisyn: new video to show you this morning showing the trio of fugitive siblings, the doherty family are the subject of a nationwide man hunt after they opened fire on a police officer in florida and then robbed a bank in georgia. this is video of the high speed chase that sparked the crime spree. meanwhile, we are getting word of possible new leads in this case. sheriff chris noko is trying to catch them and he joins us now. good morning, sheriff. >> good morning, alisyn,

thank you for having me. alisyn: a pleasure. we want to get these guys. where do you think they are today? >> they could be anywhere. we want the public to realize, they could be back in florida, they could be in georgia, they could be in tennessee, they could be anywhere. we don't want them to think because one lead leads us somewhere, that's where they are. >> you said that something saw their car, but by this point they could be anywhere. it's obviously not easy for three people whose faces have been splashed on national television to stay on the run. how do you think they're doing it? >> we realize that because there was a bank robbery involved, they obtained money. they may be in disguise right now. but there has to be an opportunity for them. they want to go out and get more money if they're going to be out on the street some more, so we urge the public to be cautious because they're very violent. alisyn: you know they're armed, apparently they have many weapons on then. what do you know about these three? >> we know they have a large cadre of weapon, they have

practiced with them, trained with them, they have an ak-47, 45 caliber guns and they're not afraid to use them, they'll shoot a law enforcement officer, they'll shoot at the public, and they'll shoot again. alisyn: are these three siblings just bad seeds or drug addicts? what's behind this crime spree? >> we know that one of them has been arrested for drugs in the past. we don't know what's starting it right now, why they're on this spree, but they do have a violent history. ryan has 14 felony convictions, his sister, lee grace, has been arrested, dylan has been arrested, so this family is no stranger to the criminal justice system, so we must do everything possible to bring them into justice, because they are on a mission right now. we don't know what that mission is. but like their mother says, we want them to come in, we want a peaceful resolution, but they want a battle with law enforcement. we have tremendous resources and we will win that battle. alisyn: unfortunately it sounds like they have some sort of demented vision of going down in a hail of

gunfire, they left that note for their mother, saying everybody has to die at some time. these three are really -- they are really strange. we know that what prompted this latest crime spree is that the youngest one i guess had just been convicted of some sort of sexual assault and he was going to have to register as a sex offender? >> yes. on monday, in valucia county, he was convicted as a sexonder, and so in pascal county, he was going to have to register as a sexonder. he had 48 hours, he didn't register, so we are getting a warrant for his arrest, we drove a warrant for his arrest, and the fbi has a warrant for the arrest for the bank robbery. as i reiterate, these are three violent people. we don't want anybody to make a hero of 24e7. they're not heros. they are fugitives on the run, they have a tendency for violence, they will commit violence of them. we beg of them to turn themselves in. al all-want everybody to be careful. what should people out there be looking for at this hour?

>> if they're out there, they see these three individuals, please look at their pictures but also realize, she may have died her hair, they may be trying to grow goaties or beards, but if there's anything, if they have any informs, dial # 11, call 1-800-call fbi or pascal sheriffs.com. we need any tips because any tip is going to be able to lead us to them and that's going to make us safer. alisyn: we know you're going to get these guys. let's just hope it happens without any further violence. thank you for coming on. >> thank you very much for having me. bill: good information there. alisyn: they do change their behavior. that's what fugitives do. be on the lookout. bill: the u.s. giving millions in foreign aid to china, every year a country that owns mosh a trillion dollars in u.s. debt. how much sense does this make? one law make respect and what he has to say about that. alisyn: a three-year-old girl vanishes in the middle of the day. the fbi on her disappearance and her family's pleading for her safe return. >> our focus is on finding

this little girl. if you have any information, call us. >> i wish i could go back and keep her inside and not be outside.

bill: a fox news alert now, we want to take you to the streets of london there, authorities in the u.k. now deploying roughly three times the usual number of police in the streets of london, roughly 16,000 officers from foot patrol to the horseback mount, officers trying to restore order after three days of rioting which shows no end in sight. if you watch these images, prime minister david cameron was on tv earlier today asking parliament -- to come back from work. that will happen. more than 500 arrests so far. police say they're using plastic bullets as part of

the response, it started this weekend, and they might go to rubber bullets tonight if they need be. it started after a father was shot by police, it continued with many young people shrouding their faces from the cameras, some in of the streets because of new government polices due to budget issues. there's a lot involved in this ongoing story as we approach nightfall in london. to stay tuned for more. twenty-three past the hour now. alisyn: let's tell you what the top stories are at this hour. the new york hotel maid who accused former head of the international monetary fund of sexual assault is now filing a civil suit against him, seeking unspecified damages from dominic strauss-han. >> the b.b. cooper mystery continues, the fbi says there is no match between a new suspect's dna and the dna from a neck tie left on the plane that cooper hijacked in 1971. parts of oklahoma are scrambling to restore power after a string of powerful thunderstorms ripped through the state. overnight the storm damaged

homes and businesses and one person reported injured. bill: some eye opening details now on an option that could finally break the deadlock in washington. democrats are pushing for more taxes, republicans refusing to raise those taxes. now both sides could get their way by taking on the tax code itself. jim angle, live in d.c. what are we talking about here and what is the potential in savings? >> >> reporter: democrats have made clear they want additional revenues for decifit reduction, republicans are equally clear they won't accept an increase in tax rates, but several leaders in both parties have talked about one possibility that might satisfy both at the same time, cleaning up the deductions and subsidies in the tax code and using some savings for decifit reduction and some to actually reduce tax rates. listen: >> this is where the revenue deal is to be done. i don't think there's the political will to do

significant increases in tax rates. the deal to be done is to look at the tax preferences and walk them back in some intelligent way. >> tax expenditures or tax preferences add up to about $1.3 trillion aie. that's more than all individual and corporate tax collections combined. so there are at least some theoretical savings to be had, bill. bill: what are they, then, jim, and are they the kind of thing that members of both parties could eventually agree to. >> the list of the existing preferences includes easy targets such as ethanol subsidies for instance which congress is already after and many smaller deductions and credits, but the big deductions are things millions of americans know and use. the largest is making employer provided health insurance tax-free, which if taxed would bring in $282 billion a year. then there's the home mortgage interest deduction. that is the second largest at $89 billion, followed by savings in 401ks at $63 billion, and deductions

for charitable contributions at $40 billion. a lot of programs for the poor are also handled through the tax code so the choices will be difficult, but this is the only real possibility for an agreement to increase revenues. listen: >> so this is an elegant way to kind of thread this needle between those who don't want to raise any revenues for the decifit and those who want to focus on more in taxes, this can actually kill two birds with one stone. >> reporter: but bill, there will be a battle over how much should lower tax rates and how much should reduce the decifit. analysts suggest one third decifit reduction, two-thirds to raise tax rates in hopes of boosting economic growth and creating jobs. bill: it's an intriguing idea. thank you, jim angle, live from washington. alisyn: we have breaking news now. the first of two planes carrying the bodies of those killed in that terrible helicopter crash in afghanistan will be landing in just a few moments. of course, it will be landing at dover air base,

it is carrying the bodies of those heroes who made the ultimate sacrifice, so it's a very solemn moment here and across the country as they land. it's the first of two planes that will be carrying back the bodies and we'll let you know when that happens. bill: what a sacrifice it is, too, listening to that widow a few moments ago. alisyn: she has a newborn, she and her husband. bill: the stories like that keep going on and on, too. our best to everyone trying to get through this one. some lawmakers, meanwhile, saying that everyone in washington is dropping the old economic ball. >> everyone is to blame. both political parties. i happen to think that the approach that's been used on the debt ceiling has gone too far in terms of threatening literally the economy in this country and raising interest rates in the midst of an economic recovery. bill: so if everyone is wrong, how can anyone be right? >> alisyn: a country song? >> bill: i'm telling you! grab the sixth string acoustic!

bret baier on the next big idea. alisyn: there are brand new attack ads out, slamming each other over the financial crisis. frank luntz on what the american voters think about the mud slinging politics.

bill: watching the markets closely and everything else that is moving with regard to the economy, live look at the big board, we are bouncing america, slightly, 227 on the up side which makes up about 33% of the drop from monday. when a miserable monday it was. president obama taking heat and especially from republicans on the trail, likely to be a common theme thursday night during our fox news debate in iowa. first up michelle bachman. >> when the ratings downgrade

came out last week where was president obama? did he rush to the microphone to give confidence to the american people? he got in the helicopter, he took off for the weekend. we didn't hear from the president. as a matter of fact, it was about 24 hours before we even heard a statement. bill: that was bachman. now breath breath, ann of special report. morning to you, bret. >> reporter: morning, bill. bill: let's look for the next big idea. what is the white house or this president likely to push now? >> reporter: that's a great question, bill. so far we haven't really seen the big idea out of this white house. they've mentioned things that they've mentioned before, the payroll tax cut extension, the effort to get the trade deals passed that have been sitting in congress. there's been back and forth about that because there was an attachment of a labor provision in the trade deals as they were sitting there. he's talked about patent reform. these are small ball issues.

as far as the big idea out of the white house it hasn't come out yet, and i think a lot of people, both republicans and democrats, and there is criticism from democrats and liberals as well of this president, they haven't seen it yet. bill: you can especially hear it from the left, starting a bit earlier today. now from the right the debate you host on thursday night, what is likely to be the ideas that come out of that, other than just criticism of this president and his policies. >> reporter: that's a good question. we are going to try to get into specifics here. obviously the economy is going to drive a lot of the kpheg, and i'm not giving anything away, because anybody going into that debate would acknowledge that after this week, the past few weeks. i think there are ideas that are gaining traction out there. the repay tre repatriation of money overseas, to get them back in in tax-free status if they

use a percentage of that to create jobs here in america. there's various equations out there and proposals that republicans have been talking about. there are other ideas. i think some of those specific solutions are going to be what is interesting out of that thursday debate. bill: there will be eight of them on stage. one who will not be on stage is the governor of texas, rick perry. the rumors are out there that he will come out on saturday and all but announce that he's getting in the race. he's kind of skirted iowa so far. can we gauge how a candidacy from rick perry will affect the others, bret. >> reporter: bill, i think you look at the polls and it factors in quite heavily. he factors in right away if he gets in, and we expect him to get in. i don't know if it will be official on saturday but he's been flirting very aggressively with getting in, as you know, and it does shakeup the equation, especially in iowa where he has some traction

already. whether there is a push back that he's not a part of this straw poll and he's not in this debate, i don't know. i think that you can have perry supporters that get on the bandwagon pretty quickly in a place like iowa. bill: thanks a lot. we are looking forward to thursday night. we are looking forward to 6:00 tonight. we'll see you both times. fox news has the republican presidential debate lives out of a ph-rbs esmes iowa, 9:00 thursday night here on the fox news channel. what do you think at home? how concerned are you about the great stock drop? the vote so far are in, 50% say stocks are going to go back up, 44% say we are in trouble. you can still vote online. alisyn: that's even more divided than usual. with the nation's credit rating being downgraded new concerns about whether america should continue dishing out billions of dollars in aid to other

countries, especially china, which holds nearly $1.2 trillion of our debt. in the past decade the u.s. has given $275 million in aid to china. just last year the u.s. increased the annual amount to 47 million. of that 17 million was set aside to promote democracy and human rights. but it's all your money of course and william la jeunesse is live in los angeles tracking it. tell us about the thoughts on china, william. >> reporter: well, if there was ever a time to reassess foreign aid many would argue that time is now. to countries that don't need it on programs that don't deserve it, which is why many and some in and out of congress say it is time to stop sending money to china. a military and economic china there is not much china can't buy, yet u.s. taxpayers foot the bill for chinese students to study retirement in beijing,

prostitution, and why the chinese spoke. >> here we are sending money to a nation that we are die we are opposed to at a time when we are broke. >> reporter: they gave chinese universities $30 million to solve largely chinese problems. >> this is about the national institutes are health, nameless, faceless bureaucrats, spending opm, other people's money in a way that is inappropriate. >> it's possible that not all of it is as well spent as it could be. >> reporter: he says scientific exchange programs help shape public opinion. >> if you look at what ordinary people think and feel about the united states, it's definitely -- it definitely has an impact. >> reporter: including the 275 million the u.s. spends to improve china's internet access, urban transit and development. >> the number one recipient of

this taxpayer dollars were chinese state-owned corporations. >> reporter: some in congress want to end all aid to china including the peace corps. >> in many ways our peace corps volunteers are young people, are our best a ambassadors. >> reporter: critics say this isn't china bashing but economics. does it make any sense to borrow money from china, pay the interest and then use it on programs that auditors say have little or no impact. it's very hard to unwind these programs. alisyn: it sure seems like it william. thank you for big that to our attention. bill: diana nyad, she is a strong woman. she was trying to swim between florida and cuba. that swim is now over. she left ha van a she is 61, she climbed back in the boat about halfway through the florida strait. high winds, asthma and shoulder

pain caused her to stop. she was the first person to swim without a shark age. i don't know if you had a chance to see a video. there is an tried to do this han blown off course because of the currents, as you can understand. she was following that orange strip in front of her that you see in a moment to keep her on track, but the winds started kicking up and that moves the tides and when the tides blow west to east you get off course, and it costs too much time and energy. alisyn: we were really rooting for her. bill: a woman, 61, come on. alisyn: maybe she can try again. bill: good luck. alisyn: back to politics. republicans and democrats jumping on the politics of the economic crisis. two brand-new attack ads hitting the air waves, frank l u.n. tz on what the average joe thinks about the dirty politics. bill: she spent three nights alone in the wilderness, no food, no water, a broken leg and fractured back, and today she is talking about it.

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they gave me this pantene called bakage to strength. [ female announcer ] the keratin protection pro-v system helps prevent then repair split ends. zero fear of breakage, 100% more strength. no regrets, just health. i'm not giving up the heat. [ female announcer ] the breakage to strength system from pantene. bill: breaking news out of southern florida, broward county now, police on the scene of an armed robbery. one suspect has been shot. some of the images are frankly too graphic to be on tell investigates. we have been able to select a few that are not that detailed, frankly. a bloody scene described, a man on the ground who has been shot. blood surrounding him. this is according to the sheriff's office in broward county, they are working on this scene happening at a check cashing store. it's clear that someone has been shot. whether it's more than one it's

in the clear. this is near fort lauderdale florida. whether or not there is more than one person involved is something we are trying to ascertain. more on that in southern florida, on america's news. alisyn: the economy, of course, front and center as the road to 2012 kicks into high gear. political ads on the economy are already hitting the air waves. which ones do viewers respond to most? pollster frank l u.n. tz the president of l u.n. tz global and art tore o author of win. let's start with the gop ad and you can tell us what voters have thought of it. >> whether you can put a little extra money away at the end of each month so you can some day watch your child receive a college diploma. we measure the strength of our

economy, not by the number of billionaires we have for the profits of the fortune 500s, but whether someone with a good idea can take a risk and start a new business. the fundamentals we use to measure economic strength is whether we are living up to that fundamental promise that has made this country great. alisyn: okay. tell us about that ad. because you see the two lines for democrat and republican. first democrat is going up sleepy then it levels off. >> reporter: the green line is the democratic line. when they see barack obama, bam they approve i of it. republicans negative. when republicans realize what it is that it's barack obama's records and his deeds and the actual facts behind it the reaction is so negative that republicans and democrats end up in the same place. i stopped the group and said do you understand that this is an

antiobama aeu tafpblgt even the democrats said, we get it. we understand what this is a back. you showed us the facts, and it works. this is one of the best most effective antiobama ads of the entire election cycle. one because it had barack obama speaking and two because it had the facts of what happened over the last two and a half years. alisyn: let's look at the new add out by the democrats. you can they will us if this is as effective. >> they are back, powerful republican interests spending millions to distort the obama record. the republican plan, a 25% cut to education and job training, ending medicare as we know it, costing seniors 6,000 out-of-pocket. tax breaks for the wealthy, big oil and companies that ship jobs overseas. rolling back rules for the wall street banks that crashed our economy, the wrong noise for the middle class. alisyn: okay, tpropbg, why ar frank, why are you shaking your

head there. >> it's just one attack after attack after attack. they want substance behind this. ending medicare as we know it. nobody believes it. they know there will be changes. it's too far-fetched and ebbs team. the whole tone is over the top without the evidence that voters need. there have already been several hundred ads done and we haven't even reached the one-year mark. and they have become so negative already that you have to have credibility to cut through, and that ad doesn't. alisyn: you like the first one, the second one doesn't have credibility. we will see so many more of these. thanks for coming in with your insight into this. bill: fox news alert of all the worst kind, the bodies of those that were killed this weekend in afghanistan now arriving, two planes on the ground at dover air force base in delaware. we are waiting for some of those images to come back here, but the bodies have now returned and now the grieving continues for the families of so many after paying such a huge sacrifice

southwest of kabul, late on friday night, early saturday morning. in the meantime "happening now" roles your way in about 12 minutes and jenna lee has been cook up a whole lot for us today. what is in the stew today, jenna, good morning to you. jenna: we certainly have a lot ahead. the story of the navy seals returning home, bill but other things we'll get to as well. all eyes when it comes to the economy on the federal reserve. a closed door meeting underway right now. does the chairman ben bernanke have a plan to save the economy? we'll talk about that. plus you also were covering this story, police call them armed and extremely dangerous. new information on the nation-wide manhunt for three fugitive siblings. all the latest at the top of the hour, bill. bill: see you in 11 minutes. more breaking news, back to florida. we are watching the s.w.a.t. team on patrol in broward county. we're told it's a bloody scene, a man on the floor shot, bleeding around this area that is known as a check washing

store, working on an armed robbery. that's where the police have responded. a lot of this video, frankly is graphic. we cannot put it on television, but we're working our sources out of broward and we'll talk to our bureau in miami in a moment here. you saw one man being led away by police at the left side of that building. back to the scene to figure out what is happening there, right after this. [ gnome ] ahh... [ male announcer ] this is what it's like

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bill: a little more information on what is happening in broward county near fort lauderdale. we are told there is still a hostage inside this check cashing store and an armed gunman believed to be inside as well. alisyn: this is a crime scene in progress. this is video that we're showing you that we can show you, because much of the rest of it is graphic. we're told there has been bloodshed. you're seeing somebody now

loaded into the back of an ambulance, we don't know if this is an indent victim or one of of the gunmen, but obviously this is still a crime scene unfolding. bill: it's been unfolding for a while now. according to the sheriff's department they got a call at 9:30 local time, about an hour and 25 minutes ago. fox miami wsvn with the story and the aerial pictures from the helicopter. a woman was evacuated from a neighboring business we're told and now the deputies have responded to a robbery in progress at this check cashing store. one person has been shot. it's unknown if that is the victim or the suspect. at the moment thinks ongoing, a hostage inside believed along with an armed gunman. alisyn: we did see video of the swat team entering the building. they were in a single formation line. somebody was being dragged out of the building, again, we don't know if that was a suspect or an innocent person trying to cash a check inside when all of this unfolded. bill: apparently someone has

been shot. the man on the ground there was blood around him. apparently he was moving at the time, still signs of life. phil keating is working on this out of miami. good morning to you. >> reporter: good morning, bill. it was a very, just brilliant training exhibited by the broward county sheriff's department s.w.a.t. team. what she had here was a shot, wounded and bleeding person out in the parking lot of this check cashing spot just west of for the laud tkoer dale proper up in broward county. he's lying there in a pool of his own blood. all of the cops are around the check cashing store because it's still occupied by a gunman who may have a hostage still inside the store. but they can't go get the wounded person because they are afraid they are going to be exposing themselves to the line of fire. so they bring out th this assault vehicle heavily armed. it goes in there with a hypoterm i can blanket, they use the van to block the position of the

check cashing store with the position of the wounded and bleeding person. they do that effectively, five swat officers all jump out all protected by the truck and then they put the wounded man on to the silver blanket, put him into the swat van and have transferred him over onto a stretcher and a team of paramedics to rush that person to the hospital. who that person is, we don't yet know. it could have been, perhaps one of the suspects. if there was more than one person who went into rob this check cashing store, it could have been somebody inside that store, or somebody at the wrong place at the wrong time now. traffic is all blocked off for several blocks around this place on sunrise, which is one of the major east-west boulevards in fort lauderdale and broward county. you can see the swat van right up there in front of the check cashing store if we go back live. you can see they are right up to the door, right up to the

windows. it looks like this is right now when they are going to start broadcasting audio commands, commands to surrender to whomever is inside there, so the swat team rile escalating their involvement here. they have everybody on scene and you can see somebody getting out, and presumably they will try to get these people to surrender as soon as possible before somebody else ends up bleeding. bill: it may be textbook as you describe there, phil, again we are trying to nail this down whether or not there is an injured person inside, and perhaps, i mean based on that -- alisyn: and a hostage. bill: and a hostage and a gunman in addition to that. drama playing out in broward county. phil, thank you. don't go far, we'll come back with a bit more information after this. [ female announcer ] they've been off limits to dieters

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alisyn: we've been covering a crime scene in progress for you. this was an armed robbery at a cash -- a check cashing store. there is a swat vehicle that has just pulled up in front and is now g