>> brenda: that's so pretty, toby, is that real. >> hang on, hang on. that's outstanding. >> brenda: all right. i tell you what, this splitter is more than gold, cavuto more on business, with our host, neil cavuto. >> i know everyone is still talking about christine, but have you heard the latest on this guy christy? welcome, everybody, i'm neil cavuto and christy o'donnell in delaware, but chris christy is insighting rage and lots of it in new jersey. talk about a tea party. all, but bagging the pension system and suspending their future cost of living adjustments, raising their retirement age and demanding they all kick in more to their pensions and their health care

benefits promptly. no love for the gov from union leaders who argue christy is not tinkering with them. he's almost renaming them and now it's war in the garden is it state. and the new jersey governor himself tells me the fight is going to spread across the countries. >> if we had not taken direct steps, we would not meet payroll. new jersey is in a desperate situation and we are a preview for what the rest of the country is about to handle. >> neil: get ready, this is going to get ugly. charles payne and gerry, what do you think. >> the nightmare not just new jersey, but the country. unfunded for pensions. people say one trillion. it's three times that, 3 trillion or 22% of gdp. why? because states overestimate how much money they're going to get from the stock market. california thought they would get returns of 7.5%, they haven't made that in three years. >> so, and that's kind of what

the governor's been saying, charles, and it's been built on wishful assumptions, it just didn't pan out and even went so far as to rescind 2001 increase that was branded. this is going to get bad. >> it's going to get real bad because there's a tremendous amount of resistance from the union and you know, their biggest ally in the white house. i mean, the government has gotten bigger, our government borrowed 44% more in the second quarter of this year. we're borrowing more money to prop up this government that's already on shaky ground. gerri talked about other states and tough decisions has to be made and i think what chrissie is doing is admirable. he's making it as few others. >> neil: the union invariably came out to say this is not fair, this is not right. problems made, promises broken, but the governor is saying, yes, he hears them there were promises made in times and maybe they could be kept.

they can't be kept now. the state has to wake up and everybody smell the coffee, what do you say. >> i say the union heads are just doing their jobs the best thing possible for their workers and they were promised this. however, you can call it default, call it reform. call it a means test, whatever you want to call it. 25 of or states have a worse balance sheet than greece and gerri 25% annualized return. and lowered it from 8 1/2, a 12 percent. growth stopping and slowing significantly because of government debt had to be reckoned with you're not going to see this. the pension he says he's got funded is unrealistic is 7 1/2% is not reached. i don't think that 7 1/2% is going to be reached in the stock return. >> he's coming back to you guys and saying, don't look at me as the villain, i'm trying to protect us, longer term for you. do you believe that? >> i believe that he believes that, absolutely. i mean, if there's any good

news here, it's this is a state municipal government issue, not a corporate issue. corporations have dealt with this over the past ten years and many said guess what, no more pension benefits of the now, when they did that, they said those of you who have pension benefits you're going to get what you were promised, we put that money in, if we didn't we have to figure out how to do it we can't yank it away from you and that's the big battle is going to be in the state and local governments, is figuring out-- if you've made a promise, the unions are absolutely right to sue to, to litigate the complaint, whatever they can to see that that money is paid. i would say it's a legit battle, neil. and i believe that the legit battle is going forward. >> neil: promises made and promises broken in the private world though, too, and adam was speaking about companies that focus on the pensions and pensions out of the guaranteed corporations, and itself in

massive debt. so, this is a national problem, isn't it? >> it's definitely a national problem and the reality is that you can't solve is by just taking money away from future pensioners. you're actually going to have to start messing with people now who are retirees now. i've been speaking to experts on the topic all over the country and they say the money is just not there. you're going to have to make some tough, tough choices here, and you're going to have to fight it out in the courts. that's exactly what's going on in minnesota right now. there's a lawsuit right now, the state is pursuing, trying to get in the pockets of retirees right now. not down the road. >> neil: you know, that's the real nut to crack. the auto company, when they wanted union concessions. they were made for the future hires and present workers and those been on the job a year or two, but not sort of the grandfathered workers for whom the costs are substantial. seems to be saying and this is where it gets to be a legal battle, charles. i'm going to go way back, way,

way back. >> well, i mean, gerri is right. he has no chose. it's not like he wants to do it. it's not popular to do in corporations, someone brought up corporations, they can go bankrupt and nullifies all previous promises. if you want to go down the road where the state is somehow insolvent to make it more expedient, but these people actually live in the states, they don't want it see it fall completely apart. >> can't afford a bailout here, no way. >> neil: i was just going to ask that. >> and that's where this gets tricky. >> neil: but that's-- >> focus on that. the states are going concerns-- >> but the next step is bailout, right? there's talk there might be a union bailout for the pension funds and some other stimulus measure or whatever they call it. you about, the bottom line is, that those in washington are being heavily pressured by unions to do something before they have to swallow something

like this, right? >> i don't think legally that-- i agree with you. if you're suggesting, neil, it's going to be a political firestorm, if washington tries to bail out these state and local pension funds, i don't think that's possible. what is possible. >> neil: well, you know, i didn't think half the stuff this administration's already done was possible. so, you know, that's all there. >> i think these states can borrow, no matter how bad it looks, they can borrow because they have sources of revenue. if you want to put this in a corporate sense. companies go bankrupt when they don't have a source of revenue anymore. the state of new jersey does. that doesn't make it pretty. >> well, right. by the way, if you'd like to answer the question, it does sort of increase its significance, i think, what i do. but, here is the dilemma for christy then, it either works or it doesn't. if it doesn't work, it means an effort to touch the third

rail of politics, which is in local government and state government, public pension, public workers, it never will. >> it has to go after-- for decades the public pensions were not funded like when irs opened securities and iou's written to them. the money is not there and tough decisions have to be made nor because they haven't been for the past two or three decades. >> neil: take a quick break. if congress wants to turn around the job market, follow fidel, some saying cuba has the right idea when it comes to job creation. the blitz before the big vote. democrats come up with the campaign to resell the health care law. but will this expensive blitz fly? . yellowbook has always been crucial to your business,

but now, to get it really cooking, you need a little website development. some transparent reporting, so you know it's working. online ads and 1-on-1 marketing consultation. yellowbook's got all that. yellowbook360 has a whole spectrum of tools. the perfect recipe for success. visit yellowbook360.com and go beyond yellow.

♪ we need to finish tho projections ♪ ♪ then output the final presentations ♪ ♪ sally, i'm gonna need 40 copies, obviously collated ♪ wht's going on? when we're crunched for time, brad combines office celebrations with official business. it's about efficiency. [ courier ] we can help. wh you ship with fedex, you can work rht up until the lastinute. it gives you re time to get stuff done. that's a great idea. ♪ i need tspeak with you privately ♪ ♪ i found your resume on the printer ♪ everyone! ♪ i found your resume on the printer ♪ [ male announcer ] we understand.® you need a partner who gives you more time. fedex. ben and his family live on this block.

ben's a re/max agent, and he's a big part of this community. re/max agents know their markets, and they care enough to get to know you, too. nobody sells more real estate . visit remax.com today. >> hi everyone, live from america's news headquarters, i'm jamie colby. the values voters summit underway in washington and virginia governor bob mcdonald wrapping up his speech right now. potential 2012 g.o.p. presidential candidates have been making the rounds at the event and this afternoon, the results of a straw poll for the republican nominee for president, that will be announced, keep it on fox. the poll including some big names, including mitt romney,

mike huckabee and sarah palin and you can also watch the summit streaming live on foxnews.com. and the polls are officially closed in afghanistan, voters casting their ballots despite taliban rocket strikes and bombings. at least three people have within killed and one governor survived in an attempted car bombing. the vote after last year's fraud-plagued presidential election. i'm jamie colby keep it here on the fox news channel and foxnews.com. foxnews.com. >> americans still aren't buying it, keep selling it and putting the health care law out of the mid term elections and they're trying to change the mind of majority of voters who say they want to repeal it. this is weird, eei mean, buyers remorse. >> it's something akin to that.

i wonder who the main fishermen, i hope it's not vice-president biden. it's colorful, sold a lot of snake oil, but not one democrat is running on this. not one of them proud enough to say, hey, i gave you this new health care. >> neil: a couple of running away from it, and their vote. >> and amazing. and me thinks thou protest too much. before he said he was going to bend the cost curve now he says i never said that, but it's the right thing to do, it's just the right thing to do. >> neil: gerri when i see your fine show and you brow beat your guests. a phenomenal show. one thing that comes through with a lot of us, particularly on health care, it's working fine, just relax, hang in there. down the road it's all going to work out. >> down the road? >> that's the issue, right? >> well, look, you know, i can't get past what's going on. how they're going to sell this thing. what are they going to say

we're going to reduce co-pays for care, 10 to $15 and premiums going up, 30, 40%. people are going to be paying a ton of money out of pocket. >> neil: and what's the-- >> don't get me started. >> neil: she's putting those guys kind of on a list. she she pulled a tony soprano this week, saying, you know, we are going to remember you. >> they did that in massachusetts, it didn't work. wh he they reformed health care in massachusetts turned against the insurers on board and nobody wants to underwrite business out there. what you're going to do you're going to alienate the insurers and don't want to play, costs are going through the roof because of the promises we have to headache it to consumers >> and going to be ripping into this one, revoking the insurers, the administration, all of that. and i'm curious, as to whether the administration in its heart of hearts knows the numbers increasingly aren't-- i don't blame the

administration for saying others had plans, the bush administration with this medicare prescription drug thing has turned to be a ballooning disaster. it happened, but why can't they just come out and say, all right, we were wrong on it. now they're just going full throttle with it. >> it's all they have. the mid terms are around the corner and you don't want to say look, we spent 2 trillion dollars, the unemployment rate keeps ticking up. 4 million more people went into poverty since we spent 2 trillion dollars. 4 million more are uninsured and we are going to create new jobs. what we're saying is, the administration is saying, we are going to give you health care and keep you in your homes. that's not what american people want, but all they have right now because the economy is not heading the right direction they want and they're out of time. >> neil: you know, adam, you being here, i would check the price of things because i always want to be up for speed for you. do you know the price of cyanide has actually gone down so if you're looking at cyanide capsules, in this environment, it's the one

thing that has become more affordable. i defer to you. >> well, thank you, neil and i'm sorry to try to crash into this fantasy bubble that my friends are sitting in right now, but charles, first of all, the pitchman in chief will be president obama, you knew that already. gerri, premiums have not gone up 30 to 40% for the 50-plus-- the 50 million plus americans who don't have health insurance. and john, as you know, none of these reforms have kicked in yet. so, it's no surprise that the things that you articulated, the things gotten worse. >> neil: gerri mentioned the previous, intend to raise premiums and filed for that. >> and this is on people who have insurance. >> we were told our world wouldn't change when in fact-- >> no one was told their rates would go up dramatically like this. >> i don't think it's a shocker that the administration is going to campaign to try to convince people that the legislation that they worked so hard to

pass and-- >> it's going to cost you through the nose. >> should be enacted-- i'm sorry, neil. >> adam, you're right about that. they made a huge mistake, should have focused on the thing called jobs and the economy first and foremost, and they didn't and went with the agenda and have to back it up. the point is made. you've got the gambinos, who the luchisi. >> neil: why are you looking at me? >> you're going to like the health care plan whether you like it or not. >> neil: gerri, is this going to get worse. >> you betcha, you betcha, we were promised a whole lot of things, promised our health care costs weren't going to go up, we could stay with the same doctor. we are going to find that all of this is changes. >> neil: were you offended as i was by charlie's anti-italian-- >> no. >> neil: whatever, gerri, thank you very, very much. you can a catch her hit show on fox business-- wait a minute, you don't get

fbn. >> get it. >> neil: the crew. week nights at 5 p.m. eastern time. we love the big guy, and the words for republicans, not backing tea party candidates and choice words for the big guy in washington. i chat with the republican governor chris christie. . >> unlike the president of the united states, i can't print money, okay? so i got what i got. and i'm not taking any more from all of you. the wrong thing to do. [applause] [ male announcer ] the financial headlines can be unsettling. but what if therwere a different sry? of one financial company that grew stronger through the crisis. when me lost their way, this company led the way. . by protecting clies and turning uncertainty into confidence.

what if that story were true? it is. ♪ fire was fire. and the first language, the language of chemistry, was universal and eloquent. and the unique ability of chemiry to change everything has never changed. it is still the hope of human history to come. it is still the bond in partial between the elements. hydrogen, oxygen, carbon and human. >> coming up, he's driving the unions mad. that we know. but his next target, washington. new jersey governor chris christie, pulling no punches

>> it's a bill that's paid for. it won't add a dime to the deficit. the bill that was written by both democrats and republicans. but for months, republican leadership in the senate have said no. >> because the republicans are evil! the president calling the g.o.p. the party of no again, but new jersey's republican governor chris christie telling me in an exclusive interview that sometimes saying no, the president of the united states is the best answer for america. >> listen, there's no problem in my view with saying no when what you're saying no to is wrong for america. and you know, continuing growing government, continuing to pile up more debt, continuing to increase taxes on everyday citizens is the wrong way to go and so, if the president continues to you know, propose things like that, huge spending, huge debt, growth of government, i think it's the republican party's obligation to say no

because that's not what we believe in. we believe in less taxes, less spending, smaller government, common sense regulation, those are the things we believe in. >> neil: and mrchristine won in delaware, and a party favorite. at first the republican committee said they're not going to help her, not going to fund her. seemed childish and now, embrace her, kumbayah, what's going on? >> i don't know what's going on. the washington politics are kind of beyond me at times. neil, i have to tell you. listen, i think it's a very simple answer. christine o'donnell or any other republican nominee should be supported by the republican party. that's why we have primaries, people get to decide who they want to be the nominees of our parties and then we should support you. >> neil: any others you think

are rising stars in your party that particularly stand out and do they have to ascribe to the kind of things you're doing in new jersey? >> well, listen, i think somebody like meg whitman in california is running a smart, tough race and i think she's going to bring some real fiscal-- >> by the way, governor. she just broke the spending record for a candidate, on a state-wide race and michael bloomberg running for mayor had the record, she just broke it, what do you think of that? >> listen, i'm not surprised, how much money the public sector unions are spending for jerry brown. someone like meg whitman has to spend against the public sector union machine in california that basically trained the california treasury dry with the special interest benefits they've gotten. so meg whitman is doing what she needs to do to stay competitive and look at tom corbin in pennsylvania, the

attorney general, somebody i'm enthusiastically supporting and i think he's going to do a really, really good job and john kasich in ohio another guy i'll be working for and going out to visit and excited how john doing know that race and i think he will be a great governor, too. i don't want to name a whole bunch more names, a lot of other good candidates, bill brady in illinois as well who i'll be helping, but in the end, those are the kind of people i think we need to elect to really start a firestorm across this country at the state level, that will help to bring change to america. >> neil: by the way, you can catch the rest of my exclusive chat with the governor at foxnews.com/yourworld. it's up there. i don't know what i can see, but-- next the new report showing that america's retirement funds are severely underfunded. wait until you hear the number and the stocks that will help you improve that number if you're retiring.

♪ [ male announcer ] every siness day, bank of america lends billions of dollars, to individuals, institutions, schools, organizations and businesses. ♪ working to set opportunity in motion. bank of america. yeah. you must really care about him. what? no, no. you gave him fiber. no she didn't. this tastes way too good to be be they're delicio crunchy usters with sweet honey and half a day's worth of fiber. you care about my fiber? not really. i care about your fiber too. i have for a while. ok, carl. why don't you care about her fiber? hey carl. [ male announcer ] fiber one. cardboard no. delicious yes. sadly, no. oh. but i did pick up your dry cleaning

and had your shoes shined. well, i made you a reservation . d the corner. well, in that case, i better get bk to these invoices... whh i'll do right after making your favorite pancakes. you know what? i'm going to tidy up your side of the office. i can't hear you because i'm also making you a smoothie. [ male announcer ] marriott hotels & resorts knows it's better for xerox to automate their global invoice process so they can focus on serving their customers. with xerox, you're ready for real business.

$6 million bucks is how much retirement fund are underfunded. the gang says take retirement in your own hand and buy stocks right now. >> express scripts is a pharmacy benefit manager. older population, i think they will do well. >> john, what do the you make of it? >> good company but with potential government involvement, stay away from it. >> isn't there the whole shebang low prices? >> whole shebang is low

prices. but with the capricious government getting involved you don't know if the rules will change or not. stay away from what the government is involved in. go with chevron. the world is growing at a rapid pace. specifically the yield higher than ten-year treasury. like the stock. >> adam? >> i like that but it's volatile because it's oil. if it's in your retirement account you better be comfortable with the volatility. >> what are you doing? >> intel. the monopoly not doing well at all. high dividend yield for tech stock. can't go down much because it makes a lot of money. >> that always helps. charles? >> with this stock we need -- [ inaudible ] haven't done anything in tech. by the way, layfield, your stock, you talk about the government intervention, they hate the oil company. good luck with that one. >> that's why it's brazil.