tracy: gerri willis, don't miss "the willis report" tonight on fox. what are you talking about? great show. the governor will talk about the fiscal cliff, examining that. they look and they were to turn to deductions like what the average deduction is for people, how much you can lose in the whole fiscal cliff conversation. tracy: watch tonight is a clock to 9:00 p.m. coming up, twilight dominating the weekend box office with the help from a surprising fan base. the guys. dennis kneale is on the story next. but first as we do every day, look at the 10-year and the 30-year treasury up. your 30-year as moving as well also up three basis points. 2.76%. we will be right back. >> i am lori rothman with your fox business brief. the bullish tone continues, the dow up 166 points right now. sparked by optimism on the fiscal cliff negotiations. better-than-expected reports on u.s. housing. also pushing the market higher. u.s. embassy court judge urging hostess the union an union and o come to agreement in private mediation rather than having a public hearing. we decided on friday it could

liz macdonald and gerri willis are here.et their reaction coming up next. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. dave: another example of private enterprise trumping government big time. and entrepreneur in nevada aiming to build a so-called party train from southern california to las vegas and you wants to have it up and running by new year's eve 2013, the 516 pound passenger train is described as a nightclub on wheels. sounds like a lot of fun and the cost is estimated at $100 million, just a fraction of the government supertrains they want to build. gerri willis and liz macdonald are here. good to see you. than

gerri willis, host of "the willis report," is here to break it down. , for the first time, we got a real look at what the president is proposing. everybody threw up their hands. ashley: aman said today he just burst out laughing. gerri: just how crazy this is, the president has proposed getting rid of the debt ceiling. getting rid of the checkbook. it does not matter anymore. this is not balance what he is proposing. he wants savings of just 400 billion. that is not balance. john boehner came out and said this is not workable. we are going nowhere fast. we have to get somewhere soon. you are asking where is the republican plan, well, speaker of the house john boehner, put it on the table, we will talk about revenues. we will talk about tax revenues. prd said 800 billion is where his number is. [talking over each other] ashley: the interesting point is, they will not discuss tax break height. gerri: what they said is -- our position has been all along, no increase in revenues. this was a huge turnaround for the republicans. i think you have already scene

[laughter] melissa: here comes gerri willis. ♪ ♪ gerri: tonight a warm and likable a. they say could damage your car and the triple a agency. welcome to "the willis report." senator kay bailey hutchison and sarah gerri: hello, everyone. speaker john boehner and nancy pelosi threatened over the president had to go over the president had her go. we have two guests. welcome to you both. last night, we covered the details of the president's opening gambit in the fiscal cliff talk. he wants a $1.6 trillion tax increase, 50 billion and stimulus spending. and the white house has the ability to raise the debt ceiling without congressional approval. a very big deal for folks there. today, the president is out there, trying to drum up support among the public. not in washington or with congress or the senate. here is what he had to say. >> it is not acceptable to me, and i do not think it is acceptable to you for a handful of republicans in congress will middle-class tax cuts hostage simply because they don't want tax rates on upper income folks go up. gerri: it sounds like the

gerri willis on that story next. look at some of today's winners and losers as we head out to break. the dow turned negative actually, down two points right now. some winners on s&p, homebuilders, pulte group up almost 3%. an lennar as well, up over 3%. we'll be right back. [ male announcer ] where do you turn for legal matters? at legalzoom, we've created a better place to handle your leg needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom helps you get personalized and affordable legal protection. in most states, a legal plan attorney is available with every personalized document to answer any questions. get started at legalzoom.com today. and now you're protected. tracy: we were waving. there we are waving. 30 past the hour. nicole petallides on the

monica crowley and gerri willis i here to talk about that next.lways wait until the last minute. can i still ship a gift in time r christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break frfrom the holiday stre. ship fedex express by december 22nd for christmas delivery. stuart: breaking news j. p. morgan -- jpmorgan close to settling with the sec, $250 million of settlements. this is about the sale of mortgage-backed securities by bear stearns. the number to watch for, $215 million. celebrity chef guy the air is responding to a negative review in the new york times of his restaurant. the times absolutely killed his new times square restaurant. the food was bad, served cold and the drinks tasted like radiator fluid. i have learned not everyone agrees with my style, the times critic pete well did not enjoy his experience. i have seen countless people -- this is what guy says. i have seen countless people come to my restaurant, families and and and tourists and even new yorkers looking to get away for an hour or

i have gerri willis with me. i: one of the potential solutions year you can't have people who are essentials reemployed ease of the public making more than the public. typically one happens public-sector workers make more in salary and benefits than people who hired them. it is unsustainable, don't you think? >> it is. take the example of a teacher who is about to retire after 30 years on the job. you will be earning first-year pension of $67,000 over the course of her retirement. that is a payout of $2.3 million and a lot of that money is coming from struggling taxpayers taxpayers trying to -- stuart: what -- >> save for their retirement fund $2.3 million. stuart: when you work 30 years as a teacher and retired you get $67,000 a year for life. was the retirement age for teachers who put in 30 years? >> it is not high enough. folks can retire ritter 50s. a lot of folks in their 60s. we need to take that hire to 67. stuart: i don't think they will stand for it. you are going for a bailout. that is what i think. chr

gerri willis will talk to us about that story ahead.e she is outraged. >>> still ahead, bank of america challenging squares dominance in the market for mobile payments. we'll get a look at the new card swiper coming up. pretty cool. first, as we do every day at this time of day let's take a look how oil is trading. jeff flock was just talking about it. down 33 cents. $85.24 a barrel. metals, gold, silver down. copper unchanged. we'll be right back. [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only nationalets you choosany car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. tracy: it is time to make some money with charles payne this hour. he is discussing the mother of all stocks and i'm so glad because i consistently am curious, apple. charles. >> you know apple is

liz macdonald and gerri willis are here. robert gray on the floor of the new york stock exchange. thank you, ladies and gentlemen, and new at 10:00, and i nomination, government handout to read your aunt than ever to get. the web site welcome to the u.s. a.gov advertises benefit programs to new immigrants. medicaid, food stamps, housing vouchers and the best of all, mad money, $1,000 a month check for a couple called supplemental security income. so is this the best way to say hello to immigrants? gerri: not great for us because it is our taxpayer money. you wonder why there are more people on food stamps than ever before, this is the reason why. when the government get behind a program like this they sat down with the mexican government to figure out how to do it better. it is astonishing to me this is acceptable. stuart: dave: it used the opportunity, not handouts people came here for. housing vouchers, food stamps and this $1,000 a month mad money. what more do you need? liz: all three of us say immigrants want to come here to work. they have built america. people from all part

don't have anything on paper yet so don't hold your breath. >> shepard: i won't be doing that gerri willis from the willis report. thanks. some news suggests that the nation may have finally turned the corner on the housing crisis and that recovery may be recovering faster than many analysts expected. existing home sales jumped 2.1% last month. the average price of a home now $178,000. more than 11% higher than at the same time last year. in addition, demand for homes pushed home builder sentiment to a 6 year high. well, in many cases, they lost everything. victims of the super storm sandy who have nothing more than a pile of rubble, where there was once a home. but now some of those victims say they found violation tickets on their properties, threatening prosecution if they don't clean up the mess. that's next. plus, remember the mysterious and deadly explosion in indianapolis? the one that blew up several houses in one neighborhood? police have made a big turn. they're calling it a homicide investigation. details on that from the journalists of fox news on this monday fox report. anymor

as you can tell, gerri willis and i have a dispute. president obama will not retreat from tax the rich, raise tax rates on the rich. you say that he will compromise. >> you think he has some kind of mandate from the people. it was far closer than that and he has to take that into consideration. what will be very interesting the next four years the president is actually working for living, not campaigning. stuart: he will not have a mandate. he won. and they have a large majority in the senate. that is political power. you excess political power. i'm told we have to wrap. now it is yours. >> which president obama will we see today? will he move to the middle of the fiscal cliff priority number one,

gerri willis is here to sort it all out. >> look, you're absolutely right.ple falling off the unemployment world. the numbers are pretty astounding, millions of people, 40% will lose their benefits with 5 million people getting unemployment right now. the length of time to get benefits has decreased, but the cbo said if you fully extend the benefits yet again, 300,000 jobs created. maybe this is the secret job creation we have been waiting for from the administration. tracy: helps the economy because you go out and spend it. >> a lot of people say we have to get people motivated to find their job, growing company, come up with a new idea, kept hustling and a lot of people are nervous about what has become an entrenched jobs program, people want to see something else happen. ashley: here we go again, boehner saying they have to get serious, the white house says they have to get serious. so silly, really. says look, it will all come down to four or five lawmakers for people who will hash this out about compromise, why should we wait until the very last minute

welcome to "the willis report." ♪ ♪ gerri: welcome everybody, i am gerri willis. the u.s.g over the fiscal cliff. washington can't get its act together. speaker boehner challenging president obama to lead us. his first comments on the economy sense reelection, he seems emboldened by his reelection. with more on this, chris stirewalt. it is great to have you here. i want to start by talking about what the president had to say today. he seemed pretty firm on what he said so far about what we need to do with taxes in this country. here is the president. >> i am open to compromise. i am open to new ideas. i am committed to solving our fiscal challenges. but i refuse to accept any approach that is not balanced. i am not going to ask students and seniors and middle-class families to pay down the entire deficit while people like me, making over $250,000 are not asked to pay a dime more in tas. [applause] gerri: chris, jay carney comes out a few minutes later and he says, well, the president says he will raise taxes on wealthy. so where is the compromise? >> the hope is that the c

ben stein, charles payne, gerri willis along with adam lashinsky, and saying give them 15 billion more >> 14 billion more, but not to fema, it's the wrong place to put it. it's a mess and owes 18 billion dollars from hurricane katrina. i mean, this is an agency that cannot manage itself. the inspector general wrote a long report last year saying the agency is mismanaged, it doesn't have systems in place that can talk to states. they can't talk to each other, they don't have the right computers in place and let me tell you, they are managing more disasters all the time. president obama has called more disasters than any other president in the last 20 years. fema is not the organization. give it to the local states, they're the people who can make these decisions and spend the money wisely. >> neil: i don't dismiss the role of a federal presence disasters like these,ut when bottled water can't arrive to a site and folks supposed to weather the storm close, at antithesis of what you're supposed to adopt and send e-mails to people who don't have powers and texts to phone to people who don'

gerri willis from "the willis report." there is the sense that people are thinking he is going to compromise our president on the fiscal cliff. you have that same feeling? >> well, i've been watching and waiting. i assume there would be some middle ground there. to him, the middleground as i don't expect people to accept this -- i don't expect them to accept my budget. democrats did not accept your budget. much less the gop. somebody needs to teach the president how to offer an olive branch. that has not happened. i know he starts every comment saying that he wants compromise and he wants to sit down with house republicans. but when you listen to the whole statement, you can't help but take away that i have my position, i won the election, it's my way or the highway. which comes to the point that i think bothers me the most, the mandate to help the middle-class. what about the rest of the country that sits on both sides? gerri: 250,000 in this area and other parts of the country, if you are a family with 250,000, that is m

gerri willis at romney headquarters in boston. rich edson at obama headquarters in chicago. sandra smith is tracking key swing states for us. scott rasmussen has final polls and a prediction. first our company for the for the hour, former presidential candidate steve forbes and radio host and best-selling author, monica crowley. to you first, you're both conservatives. monica, who is going to win. >> governor romney will win the presidency by three percentage points and over 300 votes. stuart: are you being objective? >> i hope not my wishful thinking. over last month and a half i have been to most of the swing states. the energy is palpable. not something easily to discount. we have momentum on our side. between the economy and mitt romney's message and the fact that people are proactively voting for mitt romney, rather than just against barack obama me as huge deal. stuart: steve forbes, who wins? >> the last election i predicted obama would win by sizable margin. this time it is going to be romney, 3 to 5 points. that means an electoral college landslide. i even did it st

here comes "the willis report" gerri: hello, everybody. i'm gerri willis. tonight, an in-depth look at housing, the state of the market and the opportunities that await , fires an investors. as you no doubt remember, on a rocky road after a bull market in which prices topped out in july 2005, median home value plummeted 32%. and some owners saw their prices cut in half. the worst is over. median prices of 16%. home sales just hit a four year high. inventories are at their lowest level since 2006. foreclosures are declining. it has been a long, hard road r many families to consider their home their biggest investment, and 31 percent of us ill owing more than our home is worth, you may be wodering how we can possibly see a silver lining in the housing maket. you want more evidence? phoenix arizona, a market that was the poster child forr housig problems. the overbuilt domination leading foreclosure, entire neighborhoods abandoned and in disrepair. today prices are up 25% so far, and on tra to finish up 30%. to be sure that is not as big again as the decline,

welcome to "the willis report." ♪ ♪ gerri: hello, everybody, i am gerri willis.ty-two days until the united states jumps off the fiscal cliff. that is if the white house and congress don't get their act together first. that means $600 billion in across-the-board spending cuts and tax increases, hitting every single american taxpayer right in the wallet. it's not just us but get hit hard, amid all the uncertainty, companies are scaling back their investment plans. according to "the wall street journal", u.s. companies are cutting their spending plans in the fiscal and economic uncertainty, and doing so at the fastest pace in the a recession. it goes on to say that companies are not planning to spend this year or next year. i am joined by jeffrey miron. welcome back to the show, jeffrey. good to see you. i want to start with some breaking news that we had. moody's just announced that they are cutting france's government rating to aa from triple-a. the s&p da back did it back in january. of course, we mentioned last week that the eurozone is in recession. economies

cheryl: we have gerri willis here with us to talk about this issue. first, jim, to you. do you feel any better now that he has spoken? >> not really. i did not hear compromise. i kind of have to respectfully disagree. i think the american people are overwhelmingly calling for a compromise. i think the republicans have made the first move to put spending cuts back on the table or on the table. sorry, the republicans on the tax hike in the raising of revenues, i am not hearing the other side. they really do have to go hand in hand. i think the democrats and president are -- we could turn this off. this could be an absolutely self-inflicted wound. dennis: calling on america and extending the bushhtax cuts for another year. do you get a feeling that the americans are clamoring for tax increases for people making more >> i do not think so. the president said this is not about the numbers. of course, it is about the numbers. he is most worried about the gdp. the more taxes, the worse the economy will do. that is the real problem. he just seems to avoid that and not think about

"the willis report"'s coming up next. gerri: hello, everybody, i am gerri willis. corruption, criminal charges and hundreds of thousands of dollars in ill-gotten gains. not talking about the underworld of mob bosses, i'm talking about wall street. the biggest insider trading case ever. coming out just as individual investors across the country getting more and more comfortable investing in the stock market again. a former hedge fund manager making over a quarter billion dollars. the former chairman of the sec, harvey pitt and doug burns. welcome to you both. i want to go over a couple of facts in the case as we know it right now, which is not everything, not by a longshot, but here's what we know. a hedge fund manager receives insider information, secret trials. an alzheimer's drug. he finds out the results before anybody else and trades on it. he sells his stakes in a couple of drug companies and assures them. you have said both wall street has developed a reputation of not caring, which individuals make of this story? >> theefact is terrible economic conditions,

i'm gerri willis. will business and labor leaders pixar nation's fiscal cliff problem? our land back congress. these groups heading to washington this week to discuss possible solutions with president obama. days after the congressional budget office reports there is another threat of recession. lawmakers in washington have just 49 days to strike aeal that would prevent more than $600 billion in tax increases and automatic spending cuts. in addition the president has been reelected. obamacare, the president's controversial health care law one of the fully implemented. ceos all across the country are coming out warning of the law's impact on their business. as a result, threatening massive layoffs. joining me now, former commerce secretary under president george of the bush. great to have you on the show, sir. let's start with this meeting the president is calling with union leaders, business leaders. what can they do that congress cannot? >> well, the problem is that they can't do much because the brush of taxes and the rise of regulations that are being thrown at busin

ashley: gerri willis, don't miss "the willis report" at 6:00 and 8:00, 6:00 and 9:00. >> and 11, 12. tracy: watch it anytime you want. ashley: gave gerri another show. can fist car give more luxury with the karma? lover the name. jeff flock talking exclusively with the ceo at the l.a. auto show next. tracy: i would love to drive around with good karma. look at s&p 500 winners. costco sup, yeah. they gave a special dividend. up 5.7%. jcpenney don't see that very often. dow up 60. we'll be right back. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 ml350 for $599 a month at your local mercedes-benz dealer. ♪ [ male announcer ] it startedong ago. the joy of giving something everything you've got. it takes passion. and it's not letting up anytime soon. if you're eligible for medicare, you might know it only covers about 80% of yr part b medical expenses. the rest is up to you. call now and find out about an aarp medica supplement insurance plan, insured by unitedhealt

let's head up to boston to see how skeptical gerri willis is of the mitt romney is spending his last day in other places but coming back later. >> we're so skeptical we're out on the telephone talking to people what is actually going on the ground today at the election polls. start with virginia. that is the first battleground state that will report tonight where the polls will close first. let's take a look there. i spoke to ken cuccinelli, the attorney general there. he says turnout is he have had. the lines are long. they have no major issues with voting but some interesting trends already developing. as you remember, fairfax county, right next to washington, d.c., heavy turnout there. but in prince william county where cuccinelli lives he says he was surprised turnout was so low. that could bode well for mitt romney. now, also, cuccinelli says that in other parts of the state as well they're seeing slower more sluggish trends with early voting, particularly in virginia beach, areas like that. that will be telling as well. turning to ohio, this is the key battleground state. i spo

>> gerri willis tonight at 6:00 p.m. eastern.hale closes down the second loss in a row reading some relief at the pump? >> no. coming up an expert on the future of housing. tracy: but first take a look at the 10 and 30-year treasury is. the 30-year is moving down three basis points the dow was down 82 points.ays wait we will be right back.he >> i am lori rothman. another down day for the market now off 75 points. facing the uneven recovery deuterium. due to economic cooperation and development eurozone will continue to struggle even though they try to stabilize what the debt crisis. the first carmaker to integrate the steering mellowed into the carcass of drivers can continue talking to keep their eyes "on the road". the chevrolet shot big macs on it will have the first cars to show the technology coming off the line next year. this is the latest from fox business, giving you the power to prosper. ashley: new evidence the housing market is on the mend the case-schiller index shows prices are rising 3% from the year before but wit

the willis report is next. ♪ gerri: hello, everybody, i'm gerri willis, a meeting between congressionaleaders and the white house to add vert the fiscal cliff scheduled for tomorrow, but, guess what? the president will not be attending it, secretary tim geithner will. regardless of the no-show tomorrow, president obama is hopeful to get a deal done by christmas, not inspiring confidence for pushing small businesses as key democratic leaders refuse to put entitlements on the table. for more on all of this, republican congressman langford of oklahoma. congressman, welcome back, always great to have you here. >> thank you very much. gerri: president with strong words for congress. here's what he had to say. >> if congress does nothing, every family in america will see their taxes automatically go up at the beginning of next wreer. right now, as we speak, congress can pass a law that would prevent a tax hike on the first $250,000 of everybody's income. gerri: there's the president calling out congress. what do you have to say, congressman? >> yeah, here we go in the middle of this. the hous

. >> hello, everybody, i am cheryl casone in for gerri willis. today's the startof the lame-duck session. president obama spoke to harry reid over the phone about the fiscal cliff over the weekend. the white house is making it clear today that the president won't sign a bill that extends tax cuts for those earning $250,000 a year in social security. it will not be part of the fiscal cliff. so we are going to talk about the compromise. we have a congress and to talk about this with us. >> and you for having me cheryl: or a little bill? >> we were waiting and hoping to compromise with its administration. but they they would just never come to the table. >> these democrats want to continue spending on social programs, republicans don't want tax cuts to be touched. you think we can have coromise from both sides on each of these issues? the rhetoric that we are hearing on a television screen is pretty negative. >> he did say that we want and the republicans will reach out to less. cheryl: after the last election, the november election, it was a refere

we now have gerri willis with governor romney.y. >> he absolutely has been. we have been calling folks in their rolodex. we're looking at pennsylvania, states that maybe in play. past the senatorial campaign looking at the numbers, early voting trends very interesting. there is a net eight percentage points more, the early ballots being cast over democrats. last time around they were dead even. people who are registered republican voters 8% more voting early than democrats. we don't know what their votes are currency cannot answer the question concretely, but it would seem early voting at least in that state could be going republican, which would be a big surprise. we are keeping an eye on all these states talking across the board to find out what might happen next and over my shoulder you get a sense of the places lighting up. more and more folks coming in, expecting lots of romney volunteers, campaign organizers to be here and we will be talking to them. cheryl: pennsylvania is quite a story today and that will continue. thank y

"the willis report" is coming up next. gerri: hello, everybody, i am gerri willis. tonight mayor michael bloomberg forced to flip-flop backing away from his decision to allow the new york city marathon to proceed just six days after the biggest and most instructive storm in the northeast in 74 years. bloomberg had said a marathon would bring new yorkers back together and was importance to the city's economy added $370 million for runners and race fans. but proceeding to new york city boroughs sunday when many of them have been declared disaster areas, homes destroyed, boardwalks missing, residents without food, power or water was a repulsive idea to some. >> no one else has been here. i have not heard from fema, the coast guard, no one. it is startling. >> very angry and fed up. what are we, is this america? i don't know. i don't know. i don't like it. we are going downhill. >> i came here four or five years ago, expected we came here for a better life, opportunity, and this is what we come from. this is ridiculous. not how it is supposed to be. gerri: it wasn't jus

i'm gerri willis, live from boston chump, massachusetts were in a little more than 24 hours mitt romneyill take the stage at the convention center here to give his victory speech or the concession speech. right now romney and obama are in a virtual tie. romney is printing to the finish line with a campaign blitz in several key swing states. starting in orlando, florida, lynchburg in fairfax virginia where the polls show a dead heat between president obama and medtronic. then he is off to columbus ohio and finally will end up in manchester, new hampshire, before heading back to ohio for tomorrow. springsteen joining president obama and a rally in wisconsin. spinning the final day of the presidential campaign travelling on air force one with the president. obama is going from madison, wisconsin to columbus ohio where he will only be 7 miles away from romney. after that he is off to do more income iowa, before settling in illinois will his -- where he will sit on election day with his family. no public events scheduled. with more on the last day of campaigning, joining me now, president of

gerri willis on the story next.cy: let's look at some winners and losers on the s&p 500 as we head out to break. look at qualcomm up almost 5%. dean foods too. 3 1/2%. we'll be right back. lori: let's check the markets. nicole petallides still on the floor of the stock exchange, the dow flipping a little bit. nicole: today is not yesterday. yesterday was accelerated selling on heavy volume. all 30 dow components lower. the dow is down 300 points. major average dropped that they hadn't seen in over a year. the selling yesterday was very clear cut. today is an area where we are trying to set it up a little bit. a lot of names continue to sell off. the dow jones industrial, a third of them have a arrows. i don't want to be the gloom and doom reporter. let's look at these names. don't forget bank of america yesterday was down 6%. got to give something back. bank of america, j. p. morgan -- jpmorgan, travelers, we have seen the insurers hit hard or too reasons, hurricane sandy and the current administration's policies. t

i'm gerri willis. a grand bargain? what grand bargain.epublicans seem optimistic that not only will there be a grand bargain to avert the fiscal cliff, but they will get a voice in how to handle our fiscal mess. the truth is no matter how many times the president uses the word compromise, the democrats control the senate and the white house and making it clear, tax hikes on those making about $250,000 are coming. the market thinks we are driving right over that fiscal cliff. take a look. since election day the major averages are down at least 5%. the dow, nasdaq, as and become even the russell 2000, small-cap stocks dropping sharply. so, where republicans go from here? we will hear from one congressman coming up. for now, joining us, we have met he declared from americans for tax reform, the group that has played a big part in shaping gop attitude toward tax policy. thanks for coming in the show. we have a lot of really surprising headlines tonight, but i want to start with this idea that the fiscal cliff is something, this is what the de

, i am gerri willis prettified to get back to normal continues today in the northeast.n if the news remains dire. the death toll has climbed to more than 80, and 4.5 million homes and businesses are still without power. the subways are rolling in much of new york city for the first time since sandy crippled the nation's largest transit system. service is limited. that is the case for commuter trains as well. police are enforcing carpooling and bridges into the city. bleeding lines of traffic rushing for miles. after canceling more than 20,000 flights from all three of the major new york area airports are open for business. la guardia opened today with a reduced schedule after having two of its runways flooded by sandy. what a mess. new estimates show just how about the economic damage could be from sandy. according to the forecasting firm, the chastity is $50 billion high. they originally said $20 billion. it is actually more than double. widespread power outages will push the costs higher than the typical storm and the loss of business activity. we are going to hear mo

i'm gerri willis. it has been said the definition ofinsanity is during the same thing over and over again and expecting different results. how does this apply to obama's next four years in office? it's no secret is foray into a venture capital did not go so well. many hemorrhaging ch by the day. others have gone bankrupt altogether. i recently sat down with robert bryce senior fellow at the manhattan institute. he tells us what another four years means for america's energy policy. we assumed it was safe to betshw that the president would bebethe doubling down on his re administration. his new >> i hope he takes a differente tack. we see solyndra, begin, begin pr power to raise fuel. gerri: we just show a whole list . >> and it is extraordinarily costly for the taxpayer. a better path if he is really interested in green technologyis or clean technology is setsted e reform the research and development efforts at the federal level so that if there is some breakthrough to be att3 e federal government can f

gerri willis was just telling us the story about walmart.president's been reelected, how are they dealing with it? adam shapiro's got this story for us. >> reporter: and there's a lot of concern that there could be layoffs because of the costs of the health care act or that there could not be people being hired because of it. i want to read you a quote from mercer, a company that is a consultant on health care benefits to companies. and one of their analysts, a guy by the name of matthew stevenson, the principal work force analytics in the sector, he said, and he's quote: rather than lay people off, they -- companies -- will look for ways to move people from full time to part time. why does he think this could happen? take a look from a survey they did of mooe than 1200 employers nationwide. retail and hospitality employees, people who work in industries dependent upon part-time employees are going to take the hardest hit according to mercer. 32 percent of the respondents actually said they're looking at ways to cut hours of employees and us