david: really? hold on a second, the last time we had a recession the dow went down. >> i don't think there's really many things they can do in congress to avoid a very slow growth economy. whatever they do, it is not going to cause the economy to grow like crazy. i don't think the market is pricing any any kind of major reversal. david: let me be precise here. you are saying specifically that if we go into a recession, a recession, a full-blown recession is not priced into this market, correct? >> i think to be specific i don't really believe that we will ever go over the fiscal cliff into a full-blown recession. i think that's pretty much more political posturing and media hyperbole. i don't see that as an actual -- a practical possibility. they will figure something out. they won't send us over the cliff into recession oblivion. shibani: tim, i want to bring you in here, are you seeinggany upside potential in the markets? a lot of people are saying this is priced in. we were just talking about it

appreciate it. >> thank you, david. david: liz?, the housing market recovering a bit in 2012. a lot of people feel it is getting stronger. will it be gaining even more strength in 2013? up next one of the best real estate minds out there, dolly lenz, vice-chair of prudential douglas elliman real estate. she moved more than 7 billion in top end homes and apartments. she is giving her very valuable outlook for free to you on the new year. stay tuned. ♪ . liz: so you've been hearing it here on fox business. the real estate market showing pockets of strength this year as home sales and values rise, but if a deal is not reached as far as the fiscal cliff is concerned, will housing's road to recovery come to a screeching halt? david: think of all the ways which taxes will be changing that could affect real estate. joining us is dolly lenz. we don't have to tell her. prudential douglas elliman vice chairman, one of the best in the business. dolly, capital gains, mortgage deduction, the whole ball of wax could change in 2013. does that mea

david: the other thing. >> fees. david: all the bag fees.em but it is helping them. >> only single-digit percentage of their revenue but 155% of their ebitda. this is 100% margin stuff. shibani: six bucks for a pillow helps somebody. >> yeah. shibani: look at couple stocks doing very well. southwest airlines, 20%. alaska airlines up 15%. what is their recipe for success and what can we see carry over into the new year? >> a lot of people were very pleasantly surprised with the pricing airlines continue to sustain going into the fourth quarter because we had a little bit of decelerating pricing movement going into the fall period. a lot people thought well the party is over the consumer is pulling back. then they rebounded. november, december, pricing trend were much better than people anticipated. david: we're look at your list what 2013 best performers. they were all down today. copa that last one i used to take that in central america. we used to joke about cope past it was like aeroflot. have to tie your seatbelt on. now they improved qui

david: good.z: we have to go to federal mediation and what in the blink of an eye, 14 seconds, suddenly a deal. what brought you to the step of saying guys, it has got to go to the feds at this point? >> well, i've been working with them for 2 1/2 years. the fact we avoided couple of strikes over those years but, it came to this. i was on a trade mission in latin america promoting the port and the airport. the largest destination airport and the largest port complex in the united states. moved 45% of the all the seaborne goods. i called them from brazil and chile and colombia said you have to do this around the clock. i came back early and made sure they did. i said look, we'll be here till we drop but we'll have to settle this thing. i got there about 11:30 on monday night. by 10:00 in the morning i said look, you guys are two far apart. we need to bring in a federal mediator. they both agreed to do that. they got to serious negotiations. liz: good. >> we actually ssttled this thing before the me

david: sam, health care. obviously, the rsms -- republicans did not win the presidency, a rollout of the new health care law. that area, that sector is one that you think is right for investment. >> that's right. we like the health care group. feeling is expecting to see an improvement in overall earnings growth, actually, probably starting to see a pickup in the major pharmaceuticals which is the largest group in the health care sector, but we also acknowledge that we are in what i call the cyclical fix, the favorable six-month period for the market in which the cyclical sectors like industrials and consumer discretionary are expected to be outside performers. david: okay, sam -- by the way, charles, you said something provocative. you think numbers jiggered at the end of the presidential race? >> i think the government committee committed financial fraud. there's realtime information available in withholdings. the government refuses to use it. i did a piece in "the financial times," and they don't want to a

>> it is, david. we see and what we would encourage would be for schools to get back to encouraging mat and sciences and some of the metal shops. that would help us. we do a lot of training. our training program would take somebody three to four years to get through where they could be an accomplished machinist. we do that. we pay them along the way and they come out and they have a nice career with oberg industries. david: let's talk about where you might be spending money. if you're going to grow that much you have to spend some to grow some. capital quilt, what kind of capital equipment are you buying going into 2013? >> you know, what we're looking to buy is equipment that can be flexible on the shop floor that can demonstr processes and also equipment that can take out the labor component to help keep us competitive. we're buying the latest technology in equipment. we like to say we're conservative managers. but we try to spend with progressive technology. that helped through all the years at obe

david: david wyss, thank you very much. the n.r.a.'s wayne lapierre says we should put armed guards in schools. we talk to a former d.e.a. agent who has thought this out coming up after the break. [ malennouncer ] it's tt time of year again. ti for citi price rewind. because your daughter really wants that pink castlehing. and you realldon't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finde, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. david: joining us one of my favorite people, scott shellidy from the cme. we just heard a lot of talk about how we are heading towards the fiscal cliff, whether they want to or not, i don't care, but the fact is if we do, does that mean we will be hitting another recession? >> well, it's funny how we talk about the fiscal cliff and we ignore the fact

david: all right. and we told you about that breaking news on jpmorgan whale trader, a $5 billion loss for the company. the senate has been investigating. peter barnes with the latest on that investigation. peter? >> reporter: well, that's right, david. the senate, a senate investigation subcommittee has questioned more than 80 people in its probe of $5.8 billion in trading losses in may by jpmorgan chase, the london whale trading losses, according to two people familiar with the investigation. now, according to the sources the people -- according to one of the sources, the people include current and former jpmorgan employees as you would expect. now, reports of this probe first -@surfaced in the fall. now we can report that investigators are casting a wide net in their review of those trades. now, sources emphasize that all of this does not mean that the subcommittee will hold formal hearings on the bank's trading losses o or that -- or that it will issue any scathing report on them. but if the subcom

david: okay. by the way, larry, we have the numbers after hours on pandora because it's a real hit this stock is taking. there's a huge drop right now, over 10% drop. ended at 945 and now trading at 767. that's the bid after hours. any indication of something more general, maybe in terms of internet music, ect.? people thought of getting in there including apple. >> yeah, i think they were. i think it was dead wrong. volatility, pricing in a 3% 4% move, there was a lot of bullish trades put in the market in the last couple days. this is a classic example of the market getting it wrong, and, perhaps this is a good buying opportunity because of the apple news. see what happens. liz: let me tell you, the news right now is that they say for full year 2013, they'll swing to a loss of six pennys, nonetheless, they have listener hours up 67% year over year, but, clearly, that's not what the market is looking at right now. let's look at pandora right now. justin? robert, you got the numbers. >> yes, indee

david: u.s. reporting the weakest holiday since 08 when of course the country was in deep recession. sales in two months before christmas up .7% according to to mastercard spending pulse. analysts are blaming sandy and the shootings in connecticut and also of course uncertainty about the economy. research in motion the company behind blackberry is bouncing back today after it declined recently. set to release the new blackberry 10 in less than a month. the company has pinned its hopes on that device. check the price of oil, popping big-time, look at that, $91. not only is it above 90 but just for a second it was at $91 for a barrel. the price of gas is at 3.24 per gallon. that's the national average. you see the temporary halt in a long slide in gas prices. will they start falling again? patrick sheehan from gas buddy.p com is going to be here next -- from gasbuddy.com is going to be here next. david: gas prices are at their lowest point this year, but compared to last year prices are still highe

david: hold on a second. there have been some reports that they wouldn't be going the 45 alien, they would stop short around 37 billion, so there were some expectations of less than this. >> the market priced in the full tilt. you saw after the rally they were a little surprised got a little spiked rally, and in resistance because that is the technical level we are at. it was a natural brake in a market that was overdone anyway. liz: let's not ignore the fact one thing a lot of people aren't talking a lot about right now but should, why oil jumped, white gold jump, the dollar got shredded today. when the fed announces these on buying programs or continuing of them, it weakens the greenback. how concerned should we be about that? doiig the happy dance because their products will be cheaper overseas. liz: they shoul this should be t worried. we want to be able to export, but bernanke's plan is to make the exporting more valuable. we should be concerned because i don't think they're solving the big issue and the

david? david: as was just said, it's not all red. there is some green on this markets, and it's focusing on retailers. barnes & noble, macy's, zales. people buying diamond rings and bracelets. >> oh, i wouldn't know, david. i'm not a realist, apparently. david: only one woman on my diamond list, but go ahead. >> a look overseas at japan, last trading day of the year, shares closing, get this, at the highest level since last year's tsunami for the year gaining 23%, the biggest percentage rise since 2005. ending on a nice positive note over there. david: wish it was good here. congressional leaders meeting with the president, what's hanging on the edge of the cliff is higher taxes on dividends. coming up, the chairman and ceo of southern company owning a bunch of power companies in the south tells us why the tax hike would be a huge blow to his industry, a blow everybody will feel as usual. it's passed on to you, the consumer. >> financials a big winner up this year we have an analyst who expects the gravy train to roll on next year. f

david: okay. i'm guessing now, unless the producer tells me otherwise, we are ending at the day's highs or very chose to it on both the nasdaq and the dow. gold also shining today and, of course, for the year. for the session gold gained almost $20 to end the year at $675 an ounce. the commodity $-- 1675 an ounce. this is the 12th consecutive yearly rise for gold. it was, however, the smallest yearly gain since 2008. liz: look at silver. silver a big story today, ending in the between for 2012 as well. the commodity gaining 8.3% over the past 52 weeks finishing at $30.23 an ounce. david: now, on the other hand, not all commodities did well. oil did not have such a stellar year. today, of course, crude rallied 1.1% settling at $91.82 a barrel, but for the year oil fell 7.1%, about $7. liz: some of the best performing exchange-traded funds, they're very popular now. the sas, three-time bullish eff, and you know financials were the best performing sector at least for the s&p 500, and look at this, th

david: okay. stay tuned, folks, because we have a morningstar analysts who is one of the realistic ones with regard to apple. this guy's saying within this range at about 550, it is a screaming buy. maybe not so much -- >> reporter: a lot of guys agree with that, dave, absolutely. david: nicole, thank you very much. liz: the bells are ringing on wall street, and it is a green day on the street. not a bad move here finally up about 41 points. not the biggest gain in the world, but it does show optimism, david, doesn't it? right. s&p 500 seeing a gain of about four and a half points, the nasdaq better by 15, so a complete reversal from yesterday. russell 2000 finally punching up to the upside by about one point. david: and unless you'rr long on oil, oil was not a dark spot at all today, in fact, it was good news for those looking to see a little bit of those sinking prices getting back to a level where it may not interfere with the economy the way it was beginning to. oil stepped back about one and

we're not seeing a huge jump, david. david: it is something.s down but up after-hours. >>> time to look at today's market drivers. stocks ended in the red but off session lows. it was all downhill as investor uncertainty over a deal on the nation's fiscal crisis and continued concerns what the fed is doing continued. all 10 s&p sectors ended lower, led by health care. >>> lots of act ship in the commodity pits today. gold falling more than $21 an ounce and settling below 1700. the big loser was silver. prices sank more than 4% to $32.36 an ounce. this is the lowest settle in silver in over a month. >>> u.s. producer prices falling more than expected last month as the cost of energy tumbled, the most in more than three years. the labor department reporting that its producer price index slipped for the second month in a row in november, down 0.8%. liz? liz: november retail sales data came out today. okay, showed a rise of .3 in october, we'll take it but one analyst says there is nothing positive in this report. should investors still be shopping

david: you will not see this repeated next year. david: great to see you. thank you very much. what is hot and what is not that. find out what shifts we can expect in franchises in the new year. lori: we will go live to chicago's midway airport. it could be going private as the city looks for new revenue. ♪ ♪ >> i am adam shapiro with your fox business brief. it was another down day for the markets. they continue to focus on the fiscal cliff. more americans are getting a better handle on their debt. the "wall street journal" reports u.s. households spent just over 10% in the third quarter of the year. that is the lowest level since 1983, according to the federal reserve. while the ultimate procrastinators are hitting stores today, retailers are also bracing for a busy day on wednesday. industry watchers say the lines were returning gifts will be as long, if not longer, then the lines consumers had to buy the things in the first place. that is the latest from the fox business network. giving you the power to prosper. ♪ lori: how has the franchise industry than coping with the fi

david: just a year. is just a year. >> i mentioned, they just announced they will praise the rise of a subway ride to $2.50. how is the dow doing in terms of that? i remember when i lived in the city, when i was there i was paying 50 cents to ride the bus and 25 cents on sundays. so that is huge increase. purchasing power is being lost. david: i just went to pennsylvania over the weekend from new york. $13 in the long continue nell to get back into new york. $13, the price of government. liz: try going from new jersey to new york every day. poor now, let's put it this way, peter. you talk about a dollar kraub? people, look, is that a really fair assessment to call it a crash? you really expect that? >> well it hags int crashed yet. it has gone down. people forget the history of the dollar but when nixon --. liz: don't go day by day. every time it falls it rises again. >> my point in 1971 when we went off the gold standard the next seven or eight years the dollar lost 2/3 of its value. that's why oil pric

david: adam shapiro.n reported house speaker john boehner introducing plan b as he called it, legislation to raise taxes on those earning a million dollars or more. this after president obama raised his threshold for topping income earners to 400,000. taxes are set to rise for everybody if some kind of a deal isn't reached by the end. year. liz: take it off the desk. you don't like the high taxes? in france, well move to belgium. french actor gerard d pechlt l pardieu says is doing that. he will welcome anyone from france who thinks taxes are way too enter us -- onerous who wants to follow in the actor's shoes to escape the high taxes the foreign minister says it is france's own fault if its citizens are leaving and they should accept the consequences, i agree. time to go off the desk. shaquille o'neal launching his own line of vodka. according to the "new york post" it will be called love shaq. luvshaq. our crew is giving it thumbs down. it might taste well. it will hit it next year. cocoa nut flavored v

lauren, david, back to you. david: robert gray, thank you very much. a good weekend. >> you too. lauren: trading your gun, get a shot, a flu shot and money to go food shopping. yeah, we'll explain that next. david: is that a good deal? lauren: let's go off the desk. scenes like this from superstorm sandy could become more common according to the national oceanic and atmospheric administration. devastating flooding from a hurricane is only indication what will come from future storms. scientists predict global sea levels will rise eight inches to 6.6 feet before the end of the century. atlantic coast is on thin ices are water levels rising average rate of 1 1/2 inches per decade. david: we've got to be a little careful with some of that because other people disagree dramatically with those figures. what you're looking at now is somebody getting a flu shot and if you're looking for a free flu shot, well you can trade in your gun. the city of worcster, massachusetts, is having a goods for guns buyback program. tomorrow you can bring in your unwanted, unlo

and david, most of the weapons here will be destroyed. david? >> lines as far as the eye can see there, abbie. thanks to you in los angeles. >>> and in washington tonight, president obama is cutting his christmas vacation short to try to cut a deal as that fiscal cliff nears. now just six days until higher taxes for all americans. and tonight, a white house official is placing the burden of not getting a deal on leaders of congress. one official saying the hits from our economy are not coming from outside factors, they're coming from congressional stupidity. some members of congress do return tomorrow. these comments come just as barbara walters prepares for her "nightline" special tonight. her sitdown at the white house with the president and the first lady. and tonight here, some rare personal questions answered about their own relationship and their girls. one of whom just got her first cell phone. >> reporter: i want to talk a bit about the girls. we have been watching them grow up from little girls to young ladies. now, malia recently got h

david: smile

david: why not? liz: i'll tell you why, coming up, david.op music] ♪ - ♪ what's wrong with the world, mama ♪ ♪ people livin' like they ain't got no mamas ♪ ♪ i think the whole world's addicted to the drama ♪ ♪ only attracted to the things that'll bring the trauma ♪ ♪ yeah, madness is what you demonstrate ♪ ♪ and that's exactly how anger works and opates ♪ ♪ man, you gotta have love just to set it straight ♪ ♪ take control of your mind and meditate ♪ ♪ let your ul gravitate to the love, y'all, y'all ♪ - ♪ people killing people dying ♪ ♪ children hurt and you hear them cryin' ♪ ♪ can you practice what you preach ♪ ♪ would you turn the other cheek ♪ - ma'am. - [gasps] - you forgot your purse. - oh. you don't know how worried i was. thank you. thank you very much. - he nice move, kid. doughnut? a message from the foundation for a better life. with scottrader streaming quotes, any way you want. fully customize it for your trading process -- fromhought to trade, on every screen. and all in real time. which makes it just like having your own tradin

. >> merry christmas, david! >> how you're creating joy and jobs this christmas. >>> and caught on tape. the adorable pet dog stolen, about to be sold. you won't believe what happened next and what we witnessed today. >>> good evening on this wednesday night. and we hope you had a merry christmas. diane has a few more nights with her family, and what a night to stay indoors. across much of this country tonight, a massive winter storm and already, the ripple effect being felt coast to coast. the monster storm system stretching from indiana to maine, all the way to north carolina. more than a dozen states under winter watches and warnings this evening. and this is moving fast. nearly a foot of snow in some states already. a foot of snow forecast for syracuse, new york. and in the heartland tonight, the threat of more twisters. close to three dozen reported or the nay domes on christmas. this evening, they're bracing for more. our extreme weather team is across the storm zone tonight. you can see sam champion there,

thank you, david corn.nk you, steven siebold. >>> up next, the most challenged quotes of the year. stick around for the side show. if you want to follow me on twitter, you just need to know how to spell smerconish. this is the place for politics. c-max says ha. c-max says wheeee. which is what you get, don't you see? cause c-max has lots more horsepower than prius v, a hybrid that c-max also bests in mpg. say hi to the all-new 47 combined mpg c-max hybrid. you'll also care about our new offer. you get access to nurses who can help with your questions. and your loved one can get exelon patch free for 30 days. if the doctor feels it's right for them. it cannot change how the disease progresses. hospitalization and rarely death have been reported in patients who wore more than one patch at a time. the most common side effects of exelon patch are nausea, vomiting, and diarrhea. the likelihood and severity of these side effects may increase as the dose increases. patients may experience loss of appetite or weigh

thank you, david corn. thank you steven siebold. >>> up next, the most challenged quotes of the year. stick around with me for side show and if you want to join me on twitter you just need to spell merconish. this is the place for politics. not today. [ male announcer ] bob has afib: atrial fibrillation not caused by a heart valve problem, a condition that puts him at greater risk for a stroke. [ gps ] turn left. i don't think so. [ male announcer ] for years, bob took warfarin, and made a monthly trip to the clinic to get his blood tested. but not anymore. bob's doctor recommended a different option: once-a-day xarelto®. xarelto® is the first and only once-a-day prescription blood thinner for patients with afib not caused by a heart valve problem, that doesn't require routine blood monitoring. like warfarin, xarelto® is proven effective to reduce the risk of an afib-related stroke. there is limited data on how these drugs compare when warfarin is well managed. no routine blood monitoring means bob can spen

>> i have to tell you, david.f you look at my track record over the last two years, i cut spending by over $1 trillion in 2011. >> joining us now to examine the david gregory interview and the coverage of this fiscal cliff showdown. bob cusack manager of "the hill." what does it say about the state of the budgetary wars that president obama chose to go on a sunday talk show. >> he is doing this interview why congress is trying to do it. very critical of congress and i think this interview wasn't exactly combative. he challenged him on it. >> who challenged who? >> david gregory challenged obama on some points but made $1 trillion in cuts, he also vowed to cut the deficit in half in 2009. that has not happened. >> compared david gregory we saw at the top of the show waving that magazine at wain lapierre. this was a low-key interview. >> meek and weak. i didn't find david gregory, i think he lost his punch over this short-lived vacation. a number of points he didn't press the president hard enough. >> the president

david: thank you very much. >> thanks, david. david: it's time for your morn gold report. as you can see, gold is up just .010%, 20 cents, hovering around the 1660 mark for quite some time now, for the past week, again, trying to find a level, a support level. 1,662 was thought to be a very important level. it did go below that, but yet to drop significantly after that. well, you know what it's likes to try to get a day off from a small business or the company you happen to work for. so, do a different set of rules apply if you work for uncle sam? shibani joshi and adam shapiro are here and did not take the day off from work and probably they couldn't. we'll talk about that next. ♪ the wise way to say merry christmas to you ♪ >> well, we have no deal on the fiscal cliff and the president is vacationing in hawaii. not bad. and here is his response, by the way, to abc's jake tapper from the news conference last week and asked the president about his first four years in office. here was the president's response and i have to quote him here. i've been president of the united s

david: yes, it was.he president specifically said i have cut the deficit by 1 trillion dollars. david: he said i cut spending by 1 trillion dollars. stuart: by 1 trillion dollars. is that true? david: not at all. i'm looking in my hand. these are the figures from the department of treasury. spending 09, 3 trillion 500 billion. 2010, 3 trillion 500 billion. 2011, 3 trillion 600 billion. 2012, 3 trillion 538 billion. he has not cut a trillion dollars. where are those cuts? we just heard kirsten say that he is not campaigning on the fact he is a cutter, yes, he is. stuart: i'm not ttking the president's side. i'm trying to explain what he's saying, it is not that he's absolutely cut spending, he has cut the growth of rate of spending. i agree it is not true. that's what he's saying. it's like the deficit, it is not like he's going to absolutely cut it, he's going to reduce the rate of growth. david: he claimed he was going to cut another trillion dollars in the deal -- senator bob corker by the way he's ver

david, you there? >> caller: yeah, i'm here. i'm just wondering about the perception among primarily latinos but also asian-americans as to the sincerity of the republicans. they're sort of johnnys come lately when itle comes to immigration. as we just heard, this election result is still stinging for them. they're keen to embrace this and keen to embrace the social conservatism of the latino community. >> right. >> yet i wonder if latinos are going to say, you know what, we'll take it, we'll take any love at this point. >> yeah. i mean, i think there isn't a -- you can't say latinos and speak for all latinos. there are evangelical latinos who are naturally conservative republicans, and, but also care very deeply about immigration. and i think the republicans are beginning to realize in states like texas and colorado, that they, if they do the right thing on immigration, they actually may be able to survive. but if they don't do the right thing on immigration, they're going to lose even people who might be their natural constitu

what happened yesterday, david? >> congressional leaders came to the white house and had direct talks with the president and john boehner continues to say, look, new it's up to the senate to take action and so there is -- what was noticed on these negotiations and the question is go going, and that's the sticking point and we're waiting to see what happens and we're running out of time and as the other guests have said, it will be up to the house to see if they can get it through. >> i want to throw it up on the screen so folks at home can appreciate when we're talking about and what it will mean for people if no deal is reached. the bush tax cuts expire for all americans. that means everyone's taxes go up. the payroll tax holiday will expire which means roughly $1,000 decrease in take home pay for the the average worker. unemployment insurance goes away for more than 2 million people. the sequester as well, $110 billion in automatic spending cuts to defense and other domestic programs. that's going kick in, as well

david: you know. shibani: i do not like that term. david: really? really? want to do that. just saying. okay. we have to go. we will be back in another hour. washington once again waiting until the last minute to take action. will there be enough time to make a deal? heritage foundation budget analyst will be here next. keep it here on fox business. ♪ and back to markets now. i am adam shapiro. two hours to see if the trading session and a few days until the fiscal cliff with time running out, president obama meets with congressional leaders in one hour and they do what they haven't been able to do for months, years, make the deal. wall street is anxiously awaiting washington. the dow down 79 points. how will the cliff shape the final stretch for stocks in 2012? the lackluster holiday shopping season comes to an end, detail is slashing prices trying to break even and get you to spend some box. retail analyst christian benz tells us why it could be too little too late. time for stocks every 15 minutes on the fox business network. lauren simonetti on the floo

as the disability attorney wrote -- i'll let david speak. come on, david. sorry.say -- we have only 30 seconds. >> no. i just wanted to say that the reason the last time the board made for the extension were made for me, there has never been an extension on my behalf -- >>18ja[@itju disability. >> for disability. it was always based on neighbors or appeals% th%(úf&)q so those were the other extensions and those outlined in scott's letter. >> thank you. >> supervisor chiu: is there a problem with the)?jpnm overhead? you had something you wanted to display. no. so can we just ask you to put that back on the overhead for a minute and we'll see if the folks at sfg-tv can have that image broadcast. seems like there may be a problem. let's >> president hwang: thank you mr. sanchez. we can hear from ms. stott now. and i think you can take that off the overhead now. >> good evening,gc i don't have a whole lot to say. i stand by what i wrote in my briefs and what i said the last time. i believe that the planning department has been more than generous with david. i believe

david is right. we do have -- we do have these things that should encourage us to do something, the debt limit. i would add to that, you didn't mention the continuing resolution which we know expires march 1. so we have coming together of these things that should provide a very, very strong incentive to get something done in the longer run. >> yeah, i guess i would echo just about everything you guys have said. i think that the fiscal cliff is sort of this, as you started out, marty, this false deadline and indeed, this is a crisis that is entirely created by congress and the president. so you pick the right four things. i think that they have to deal with the a.m.t. they should absolutely in my book, have to deal with stock fix and there's unemployment extended benefit and, you know, i think there's a little bit more wiggle room on that one as far as perspective but it's out there as an issue and then there's the estate tax. they're really critical and they're going to have to be done and they're go

david?e washington post describes the president's position as follows, and i'm quoting, obama laid out a counteroffer that included significant concessionings on taxes. -- concessions on taxes. this is the president that doubled the amount of tax revenue that he was requiring from republicans and now he's seen as the concessionary. stuart: $250,000 to $400,000. david: still 1.2 trillion dollars taken out of the private economy to fund a growing government economy. stuart: on the spending side, the president did not propose any significant cut in social security just trimming it by a different cost of living adjustment. no significant move on medicare, wrapts to keep the -- wants to keep the eligibility and still at 65. no debt ceiling debate for two years. that's a blank check on spending. another 50 billion on infrastructure. so to me it doesn't balance out. this subpoena no spending cuts -- this is no spending cuts of any significanne and a lot of tax increase. charles: it's carte blanche

david asman is with us.s right there on the floor of the new york stock exchange. china, cracking down on money transfers at wynn macau casinos. i guess that wynn stock is going to be down? nicole: you are right. we're seeing the stock down nearly 4% here. this is not good news for them overall. basically china's new leadership cracking down on fast money moving. they are going to set rules where you can't -- restrict the limits on how much money can actually be taken out of the country. there are a lot of new rules that would be put in place. all of it is obviously for responsible gambling, but it seems to be a lot deeper than that. stuart: i've been to that casino in macau. i mean totally different from anything you will ever see on the strip in las vegas. i mean it is really really different. i will get to that a bit later. david: yeah, we're all interested in that story. stuart: i don't gamble. david: man oh man. [laughter] stuart: moving along, republicans counteroffer to president obama's solution to t

let's folk on what david said here.ave 60 trillion dollars in debt and borrowing 46 cents of every dollar and stealing from our kids, i don't understand why there is not this urgency on your side to stop doing that. 'cause to me, it's morally bankrupt to take money not only that we don't have now, but we're forcing this debt on our kids. where is your moral imperative to say cut spending, live within your means? where is that from the democratic party? >> sean, what i say is people do have this imperative. people are saying we're going to slow down the rate of growth of these programs, the whole notion of -- >> still borrowing 40 cents of every dollar. >> you can't do this in a rash manner that would crash the american economy. >> no! we will crash from debt. >> speaker boehner is trying to make a deal. you don't want a deal apparently. >> juan, obama wants more stimulus! by the way, stimulus crowds out the private sector. it doesn't work! >> you guys put words on the books, social spending and still don't want to ackno

david, how can you support this? >> david, just a moment. you and sean both agree, and i want to join you in this, we need to do something about spending in this country, it's out of control. we need to limb the size of government. if you truly believe these things, then you say it's not just about imposing damage on the middle class, the poor who rely on social safety net programs. you have to say the rich have to have some skin in the game. >> hang on one second. >> and they do, they do. >> hang on, hang on. >> and it in terms of tax rates in this country. >> hold on. one sec. i want to ask juan a question. why won't the president negotiate all of this at the same time in because the president is saying give me what i want and then maybe next year we'll talk about what you want and we all know that's not going to happen. >> i don't think that's true. >> very true. >> from what i understand in washington, the president is saying what is critical is that republicans have to stop being inflection i believe by protecting the top two percent an

david wants to find -- that was debra alfarone reporting there. david wants to work to help others. if you have any ideas for david, join the conversation. post them on the facebook page. his mom linda says she cannot stress enough how important it is to know cpr. without it she may not have her son today. >> great story. >>> well, almost everyone can agrow on one thing. this redskins and dallas game going to be epic. win the game and you win the division. along with being -- getting the playoff berth. but everyone around here is just trying to win some tickets because they don't come cheap. one standing room only? try $300. and rising. >> it is the biggest thing we've ever seen here in the washington area. the tickets are drying up. i mean the price could definitely go up. people that want to make a move should look now and get it while they can still get it. >> sideline seats already up to $10,000 yep. on stub hub. even parking passes are going for sky high prices. get 10 grand for some seats? >> buy a car before i buy tickets to a football game. >>> it's 4:38. whether you're goin

so, david, there's a chance she'll never testify what happened in benghazi. david?> two developments tonight, hillary clinton recovering from a fall and a possible secretary of state kerry in our future. david kerley, thank you tonight. >>> when we come back here on the broadcast from newtown, connecticut, the profound question, how does this community celebrate christmas? look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly wo

that invitation conversations with great minds david thank you oh videos they. were just a few more weeks left in two thousand and twelve will soon be closing the book on the hottest and most extreme year of weather in american history so far the last eleven months of marked the hottest period in our history and once december is over two thousand and twelve will officially be the hottest single year ever recorded averaging a fold agree above the previous record in the first eleven months of this year eighty five percent of our nation was hit by the top ten percent of the warmest temperatures ever in our history and with the hotter weather comes more extreme weather according to the national climactic data center forty six percent of our nation experienced a very extreme weather that's more than double the average of extreme weather for the united states this is what the carbon industry's global climate change has brought us and more troubling is global weirding is just getting started as the national oceanic and atmospheric administration warns more boric are br

david letterman.rshop. and music from vampire weekend. with cleto and the cletones. ♪ it's "jimmy kimmel live" >> dicky: and now, no, he's the man. here's jimmy kimmel! [ cheers and applause ] >> jimmy: hey, everybody, how you doing? well, that's very nice. hello, brooklyn. i'm jimmy. i'm the host of the show. [ cheers and applause ] very happy to be here with you. thank you. thank you. that's very nice. [ cheers and applause ] you're very kind. i appreciate it. but -- i want you to -- i'd like you to be honest with me. how many of you -- how many of you are here for the electricity? [ cheers and applause ] that's what i figured. well, thank you for coming. it's our second night of a week of shows from the harvey theater at the brooklyn academy of music. i moved away from brooklyn 35 years ago when i was 9. it hasn't changed that much. same vegan bakeries, same toddlers drinking baby chinos in $2,000 strollers. it's really the same place. we had great sandwiches today. where did the sandwiches come fr

>>> david i gist wanted to tell you that you did a very great report. great thorough and i'm going through all of the project and everything that you worked on and i'm totally impressed this is very good work. thank you. >> ditto. very very good work and i'm really excited about the silos. i'm really excited about the silo and their project those are great proposals and so it will be spiting to see who win and is i can't tell you who i vote for next but if you want to know personally no, but those are great concept i just want to ask veil layer row park and creek is there a budget for those projects and --. >> yes this is a off the top of my head so don't quote me but toll larry park our budget is $675 from the 2,000 and eight bond and we received a grant for $275,000 for the california resource agency. so that is the bum for that project. for the bay view gateway project, the budget is approximately $3.6 million i believe and for the coper crane and the power removal it's about $660,000. >> okay and so is that for both sides of third street or just the