gei: thank you. the battle over who is better able to handle a crisis like hurricane sandy, some say proof big government is the only soluon, but is that true? ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benzinter event is back, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ le announcer ] lease a 2013 ml350 for $599 a month at your local mercedes-benz dealer. gerri: does mitt romney wants to get the federal government out of the business of responding to natural disasters? >> there is a pressing question to be asked. what a romney presidency not have the federal government involved in this response? would the romney presidency not have the federal government do with the federal government is doing right now? would a presiden president romnd of fema like he said would be the right thing to do? gerri: is the criticism justified? first off understand is no point in that debate did ronnie ever say fema should be shut down. search the archives, my friend. it doesn't exist. what he

mah, but everybody who gets area refund wants to because they gey their money.s goieople who were expecting that money. lucky if they can file by aprili based on how this is going. gerri: the bottom line for a ttom second. because if you have to pay, it means you pay more money.t means it's more expensive. your taxes are higher. by how much?ch? gerri: -- >> well, normally your deductions and your income, you are expected tot ay ex. basically a completely separate taxed and that you have to do,s and if that amount is more you pay the higher. what this amounts to is an additional approximately according to the tax policy center $3,700 per tax filer. gerri: so nice to hear that we get to pay more taxes. it's not just the amt at the end of the year. all the bush tax cuts. ge we don't know. we don't know what will happenu with that.ear, cap capital gains taxes, all of this changing. what are you telling yourre youu client? >> well, most of the calls we'rt getting in the discussions we are having a more about thel spenng because you realize that even if you get all of

gei: what is the impact of the host the story? to me it seems a black eye for all kindof unions, a variety of flavors and unions, the bakers union, they were the only group who could come to agreement with hostess and at the end of the day the company went out of business because of that. >> going out of business and if you look at the auto companies that need bailout, the union once, chrysler and gm, it wasn't the ones in the south that were nonunion so the problem is unionmaking and union bosses are making these non-competitive and it is hurting the workers they purport to represent. gerri: have a great weend. thank you. still ahead of fiscal cliff mess just got messier. how president obama respondedo john boehner's latest comments and holiday season rushes on. would you spend your money? where's the best placeo invest it? buying retail stocks for losers next. gerri: it was black friday madness all across the country. this was macy's at midnight in new york city. other stores open really liked was r us and best buy, great deals

have gone through an excruciating fourassuming it gei think it will, it was president, unless -- >> a lot of businessmen at think there is going to be a correction, as they say on wall street, and if we go over the fiscal cliff and government cannot get its act together as usual, the market is like to go down maybe in a big way. >> obama should be in worse shape given how the economy is going -- >> politico reports that liberals are worried that if obama is reelected, he will make a deal. >> i sure hope so. >> i hope so, too. they have done focus groups and they know what message cells. even eric cantor, obstructionist-in-chief, was saying that we need to put aside differences and reach a compromise. there has obviously been message research. we all we all -- can't just get along, mark? >> rodney king for lieutenant governor. right direction, wrong track number, 40%. dramatic improvement. how would you feel if the president is reelected? these are the same numbers, the same "wall street journal"-nbc poll from eight years ago when a george w. bush 154% of the vote. that is the parallel

gei: we have no talked about the amt that has no patch. the death tax through the roof.e left that is all the want to talk about but we see a broad brush of taxes going up to people who care abo their future trying to invest or run a business. >> it is one of the biggt tax hikes in history. it is approaching $400 billion. by the way, it will harm the economy and still will not cut -- cover the deficit. we have to cut spending. i believe the most likely outcome is to kick the can down theoad or one year. cannot compromise they will take the middle road and we have serious negotiations 013 for the overarching simpson bowles type package. type package. gerri: [ male announcer ] at scottrade, we believe the more you know, the betr you trade. so we have ongog webinars and interactive learning, plus, in-branch seminars at over 500 cations, where our dedicated support teams help you know more so your money can do mor [ rodger ] at scottrade, seven dolr trades are just the start. our teams have the information you want when you need it. it's anothereason more investors are sayin

gei: classified details on the osama bin laden great. leaked in one of america's popular video games. defense officials telling fox news they are accusing seven navy seals is working as paid consultants. lis wiehl is your break it down. write th down for us. what happened and what do you think these guys are being unfairly penalized? >> what the government is saying is that you disclose this information. you sign a nondisclosure agreement. you violate a nondisclosure agreement and in violating that, you gave information to this company that was really only something that should be known about. on paper, when i look at it, it looks bad for them. the government, the obama administration, they were all into this. completely opening the doors. gerri: you mean they gave people access of specialized information. >> it looks on the surface like that is one thing -- there was a violation of a nondisclosure. but it is the same thing. >> all right, the defense department said you're going to get in trouble. i have scoured nothing has happened, and

gei: it seems to have unloaded everytng they have, the economy has to come back on its own now. >> they can do with the bank of japan is now supposedly considering, resort to negative interest rate policy. consumerwould be charged to keep money in savings accounts. that is one way getting people to spend, i don't think that is likely to happen anytime soon. gerri: i think that is just crazy talk to lots of viewers. but it is reality. instead of getting paid for putting your money someplace, which is the way it normally happens, instead you have to pay for the privilege. now why are people willing to make that trade-off? >> simply because they don't have enough room in their mattress to store their money or they don't have enough confidence to put their money in other financial assets sucas stocks. gerri: we are not here yet. >> could be a reality in japan the japanese want to weaken the yen. that is one way of doing it. gerri: he is optimistic about it generally, but your ideas his arctic onto fark face higher inflation. >> i don't think so. my sense is the u.s. economy remains subject

gei: i want to get to your list, your guide to the first 100 days. won't have a story ready, what does that mean? >> whenever you're elected, the expectations are high. you have to be ready when the story is starting day one that says exactly how you are going to move the country or move the organization from here to there. it should be a transformation story. obama talked about change we can believe in and he tried to prove purvey the story. he was derailed by the midterm elections. gerri: had to have people who will help you make your case next year, right? >> if you want to go for the impossible future you can't do it with the class or c. class players. you need the "a-team." and that dealing with chronic plays and they hav had to reduce their mission. gerri: what do you mean by impossible future? >> mostly what you see with ceos and presidents sitting predicable goals. goals that are more or less a different version of the status quo. in impossible future is a goal that is not predictable or likely but when you have to charge you take a stand for

gei: i want to a your opinion about anlier opinion, americans for tax reform, grover rquist.e said the president will definitely improve extending the tax cuts for everybody. now, is he just saying what to see hppen? or do you think he might have a point? >> no, i'm skeptical. look at how much time the president has spent. on the campaign trail, but then afterwards as well. assisting on these rate hikes. he focused on a point of disagreement last week with house repulicans. yes talked about it again. you have house democrats and senate democrts who have campaigned and are insisting upon these rate hikes. i also think it's a good political issue. gerri: let's talk about the polls. richard trumka sid there is no fiscal cliff. what we are facing is an obstacle course within a manufactured crisis. we make it back? >> i don't know? what is manufactured? we have been in the most predictable crisis. and you seem to have a lack of will on the part of the president actually get something done. that is the fundamental problem. gerri: i have asked you about one other comment. this from

ted says how right you are, gei. love when they say that.working less than before, and not long before it stobs ming at all. %-one of the many drains or california taxpayers, you know it, it's the rising cost of public universities across the state, but your money is well spent, that is, if you smoke marijuana. humboldt university created the institute for marijuana research. the institute plans to sponsor scholarly lectures and coordinate speeches across researchersing inning economics,