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tv   Varney Company  FOX Business  November 6, 2012 9:20am-11:00am EST

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stuart: elections on the bedrock of democracy and on november 6th, we decide. are we america or are we europe? and who leads? good morning. two candidate. barack obama and mitt romney square off last night. in columbus, ohio, bruce springsteen won the cloud for the president but even celebrities could not find a house. in new hampshire, kid rock fronted mitt romney and his wife went to, the place was packed. a very enthusiastic reception. the latest polls, gallup has romney up by one. washington post has obama up by 3 but the sample was skewed the democrats and we got the latest revenues and poll numbers. romney by one, 49-48.
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1 twenty million votes will be cast today. it has already begun and "varney and company" is beginning right now.
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stuart: it is tuesday, november 6th, it is election day. since it is the most critical day of lee year, charles payne is joining the company early. special treat. the mainstream media is pulling for president obama saying signs point to an obama victory but these pictures tell a different story. for the second straight night a packed crowd for mitt romney. thousands attend romney, his wife, kid rock, romneys were overwhelmed with emotion after a long standing ovation. contrast that with these pictures from president obama in ohio. he spoke to a half empty arena in columbus even though he was joined by bruce springsteen and
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jasey. mitt romney's campaign is quietly confident. the romney campaign's internal polling has romney ahead in new hampshire, and ohio. tied in wisconsin and pennsylvania. here's the final tracking poll, romney 49, obama 48. >> is 5-5. charles: amazing. stuart: the momentum -- to the president during the storm, swung back towards romney two or three days after the storm. charles: i agree. i think it is that enthusiasm gap. when you have bruce springsteen and j.d. there should be a line outside with speakers outside
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the stadium. stuart: he drew 50,000 more people than president obama last night. charles: no one can argue the energy is lacking with respect to the obama administration. the energy is not there because it has been difficult to defend the record. stuart: on the left of the screen that was empty in columbus, ohio. i never looked at those empty streets. it holds a lot of people. they had 18,000, not even close to filling empty seats. charles: also pictures when the president ran the first time, candidate obama like the beatles. it was amazing. the crowd he drew in america and overseas was amazing. stuart: as charles said earlier, past midnight, in new hampshire,
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five votes for each candidate. dictate the course the country will take, europe, or exceptional america. rally or retreat for stocks. with a romney victory mean a rally or a second term for obama, would that mean a sell-off? election day opening bell next. [ male announcer ] this is steve.
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stuart: did not expect serious price movement. this is election day. we are going to see a 30 point gain for the dow meaning the dow jones industrial average will be around 13,100 before we get any results from the election. that will be the benchmark we will measure from 13-1. the market reaction to ever wins this election. the market is up and and we are up modestly, 15 points, 18 points, going 30 tops. don't expect much moment. we have spoken to dozens of ceos and business leaders, most of whom say mitt romney would be better for their businesses. does that mean the stock market will rally? charles payne is with a surly. he is the man to answer that
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question. charles: we can start to invest and earn money without being confiscated but also probably a feeling that they will get over the fiscal cliff situation easier. stuart: let's suppose we have a result tonight, does the rally starts tomorrow morning? and goes on from there? after ronald reagan was elected the dow went up something like 8%. charles: it will be huge. the fiscal cliff question, he starts to talk, let's get this done. the only thing i worry about is next year expectations may be getting too high. wall street could be a game of expectation. romney would not be able to fix the mess overnight but the stock market will react. stuart: now the other side. president obama get the market
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down? charles: the market continues to drift. we had a bad earnings season and the fiscal cliff. the president has drawn a line in the sand which could mean economic disaster. by s would be on the downside the a. a lot of people would have one foot in the game and one foot outside. stuart: mitt romney wins by stocks, if president obama wins stick by bonds. [talking over each other] charles: the dollar will become more worthless. stuart: big-name corporations would do very well. all charles: all throughout the day i will talk about individual stocks. that is the conundrum. i believe this second term for obama would also see some effort to reap profits from large corporations outside of america before repatriating and some sort of act, infrastructure saving our country act that will go to the bank accounts outside the company to take the money, that will be a big dark cloud
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that would mitigate the otherwise benefits of a weak dollar. stuart: that would be something. outside the country, grab the money. charles: emergency effort to rebuild the nation. the rhetoric has been there for two years and we are all in it together. you did not build that and an infrastructure bank. $1 trillion is a sweet honey pot and we can't -- stuart: i own microsoft. and prime target for overseas -- [talking over each other] charles: they are all prime targets. stuart: this election day, p 39 points. our next guest is former managing director of bain capital. side by side with mitt romney, welcome to the program. governor romney has been saying recently that he would compromise with congress.
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he would be bipartisan to get over this fiscal cliff. the romney that you worked with very closely for all those years, is he a man of compromise? >> to get things done you have to find and engineer the right compromises because in business competition will grind you down and push you out of the game. stuart: he could on occasion when he wants to get his own way he would pound the table. he could be very firm and very strong. are you now saying maybe as president he would be less inclined? >> there are certain places you can't afford to compromise. doesn't compromise their but you have to think about what is the cost of compromise and look at the distant alternative and figure out where the best path to victory is and he is willing to do a lot to figure that out and make a compromises that are necessary to improve the
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situation but certain times there is a compromise. stuart: let's turn this around. do you think president obama given a second term would compromise? >> one or 2% victory would not be the mandate they thought they would have 30 days ago. i don't know that he would have any choice unless he wanted to see the second term began with an economic disaster catastrophe. stuart: using compromise could be forced on president obama? charles: we will hear the term care can down the road. that will one be here over and over again. stuart: you are saying yes. mitt romney could compromise. you are saying obama may be forced to compromise. i see a stock-market rally in either scenario. >> spending is that 20% gdp and the president will work hard to keep it as high as he can. mitt romney will work to bring that into line because he recognizeds the more you spend
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in the public sector the less you have in the private sector. if you want private sector jobs you got to manage government spending. it is that historical highs. it is much better for the economy that we go to the other scenario. stuart: week romney we have seen in the last couple weeks in the debate, you have watched him. you may have been at some of his speeches. is that the guy you knew? >> absolutely. he is a sophisticated guy. doesn't lose his temper certainly not in public. he is working to figure out how to push the ball down the field. that is the mitt romney i see speaking to us. stuart: did he ever lose his temper? >> yes. doesn't shout that he is forceful and passionate in his point of view. he is not afraid to disagree with you. stuart: he is not afraid to say you are wrong? >> he would definitely say you are wrong in no uncertain terms but he's not going to do that
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without arguing the underlying logic and the fact that support his point of view. stuart: tell me more. what was the argument about? >> many investments where you are taking general business theory and applying it circumstantial and trying to understand how the circumstances will affect what you are going to do. it is easy to have different points of view and bring forth your facts and the argument. others bring their facts and arguments. he is going to express that point of view and he pushes you hard to figure out why you think differently about a situation. in a polite and thoughtful and sophisticated way but nevertheless a forceful way. stuart: he was the great decider like george bush, the great decider at bain and when he said you are wrong you are wrong and it was his way. >> when he had to be. he worked hard to develop consensus and worked hard in private to disagree with people but work of decisions had to be
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made because the group was divided made the decision. stuart: i know you like the guy and worked with him all those years, pretty sure you want him to win. do you think he will win? can you be objective and give me a forecast? >> i have looked at the numbers every way. i believe the republican enthusiasm and turnout is going to be greater than predicted and democratic lack of enthusiasm will be greater than predicted so i think the turnout will decide the election. stuart: it is president romney will get a lot of air time. you know the man better than most people do. always a pleasure. great to see you again. don't forget we have a special election day edition of "varney and company" at 5:00 eastern. another all-star lineup for you at 5:00 eastern. look at who we have got. that is a line of. is it not? they don't get bigger than meghan kelly who joins the company new at 10:00 to give us play-by-play of what you can expect on election night taking
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us through the night. megan kelly coming up top of the hour. people vote with their wallets and gas prices when they were close to $4 a gallon, gas prices are heading down a lot. the national average for a gallon of regular $3.46, diesel at $4 a $0.02 and look what i mean by a lot. this is the trend. we are down $0.35 for regular in the past month. that is a big drop. what is going on with the toymaker has grow. nicole: is doing quite well. you can see it is up 6%. we had one of the toymakers, not as girl in particular but holiday season looking good and all the companies ramping up advertising so people get in and spend, leapfrog raised full year forecasts so getting ready to be happy paula days. whether their potential vote counts today. stuart: could be a potential
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romney holiday rally. thank you very much. i have your seven early mover is. charles used to do this. let's start with spirit airlines. it is only down $0.08. a disappointing outlook, it is down 17%. it is a challenging year ahead. extraordinary. down $8. charles: not only that cbs is up little bit. we are starting to see some definitive winners in this. stuart: online prescriptions. charles: it is a heck of a hit. this was not supposed to be down. stuart: i screwed up the camera when i introduced you.
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it really messes things up so i won't do again. better than expected profits at weight watchers, $6 higher, 12%. a wider loss than the disappointing outlook from service source international. is down big over 30%. profits nearly doubled at the petroleum co. see the are. $1.27. consolidated edison profits rose 15%, utility raised its rates. it is up slightly. seven early mover is. a national that's another critical issue in today's election if the government keep spending, we could end up just like greece. according to a new report we already are. we are worse than greece. we're talking about that next with mr. tax reform himself, grover norquist. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process --
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stuart: a new report from the senate budget committee shows that her person you as that is 35% higher than greece. america's debt, everyman, woman and child in america, $53,400 compared to greece, less than $40,000 per person. in greece where they are in the second day of a three day strike against austerity measures. . grover norquist from americans for tax reform. i look at that debt and i say catastrophe. if we don't get four or five or 6% growth the down arrow and control spending we go over a cliff. what do you say? >> that is exactly what we need to do. a number to remember is if we grow at 4% year which is where we should be growing as instead of the 2% year obama brought us to and france has lived with for years, the difference between 4%
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growth and 2% growth is $2.5 trillion in higher revenue over a decade. if you want to reduce the debt by $5 trillion pretend -- 4 ten years grow at 4%, not 2%, people want to raise taxes to bring down the debt that will slow growth and make things worse. stuart: they will come at you and say this is a catastrophe in the making. we must have a compromise between spending cuts and tax increase and the word compromise is going to look very attractive as we roll around january and i suspect the politicians now matter who they are will not be strong enough to resist. >> john boehner, the leader of the house of representatives, speaker of the house is going to be reelected as speaker. that is one thing we know going into this election and he announced republicans are not raising taxes. that is not happening.
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it is important to define the problem correctly. the federal government is spending too much. not that the peasant pas are undertax. as long as you understand problem is spending too much we could compromise. i think the ryan plan reduces spending by $6 trillion over a decade. maybe you have to compromise and only reduce spending by 5 or 6. compromising in the direction of liberty is okay. moving less rapidly to less spending is -- might be necessary but raising taxes is what politicians do instead of reducing spending. stuart: you may not be able to see this but on the other side of the screen, paul ryan voting in jamesville, wisconsin, casting his vote as of right now. very fast here, who do you expect to win. not to do you want to win, but
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how you see it happening today? >> i think romney will win the presidency because they are looking better in the number of the key states and even states like minnesota and pennsylvania are in place. the house of representatives, very important. whoever wins the house this election cycle will hold it for a decade because these are the new districts that will be there for ten years. republicans have 29 governorships adding one, 3 or four. what the state legislatures, arkansas, democrat, stay in both houses of the legislature since the civil war is going to go republican in both houses. stuart: we always appreciate you being with us. thanks again on this special election day. 9:49, time for your bold report. where are we? 1689, still shy of 79 but up $6 today. governor cuomo says -- new
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york's governor cuomo says utility company's response to sandy unacceptable. he is making some strides. more reaction to the storm. initial phrase for president obama's reaction is fading. new york city mayor rudy giuliani on the government's response. look at charles's reaction in a moment. >> since the president got all this praise and credit and press has been abysmal. fema is as much a failure now as it was at the time of katrina. i do not understand why there's not enough water in new york. st. st. i turned 65 last week. i'm getting married. planning a life. there are risks, sure. but, there's no reward without it. i want to be prepared for the long haul. i see a world bursting with opportunities. india, china, brazil, ishares, small-caps, large-caps, ishares. industrials. low cost. every dollar counts. ishares. income. dividends. bonds. i like bonds. ishares. commodities. diversication. choices.
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stuart: two storm related stories. andrew cuomo is furious about what he feels is the slow response by utility companies. man them from doing business in the state. former new york city mayor rudy guiliani comparing president obama's response to katrina. let's deal with governor cuomo first. ban them from the state because he doesn't like their slow performance? charles: ridiculous. cuomo has come across as a weiner but -- charles: bottom line he is from the same group saying that the government should control
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utilities anyway. he doesn't like them but this is not helping. what was his response -- this is about climate change, give away free gas. his reaction has been terrible and finger pointing. stuart: rudy guiliani says federal emergency management, their response to sandy was as bad as fema's response to katrina under george bush. charles: i don't agree. i do agree that giving the president and fema a goldstar 20 minutes into the disaster and the assumption that they will make it right, at this moment 1.4 billion people in this area without power. i got mine yesterday. first responders, regular citizens, businesses have been up there. fema may be ac at best. with the hindsight of katrina, now led ministration should be
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under a plus from here on? stuart: america votes and "varney and company" watches with outstanding journalist, meghan kelly joins us next to tell us what to expect and when to expect as polls close and results come in. i've been a superintendent for 30 some years at many
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stuart: today's the day we choose a clear path. return to exceptional america, further down the road to europe. that is the question voters are answering right now and for the rest of this day. new at 10:00, i will call home one of the stars of the fox news channel, meghan kelly joins us to tell us what to expect if the polls close and results come running in. making kelly in a few moments. to the big board, we were not expecting a big move but got a modest rally at the points. it is election day and here's a special company for you. andrea tantaros, co-host of the 5. and don peebles, a obama supporter, also here. nicole petallides on the floor of the stock exchange. the polls don't count anymore. the votes are going to be counted because the polls are
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telling us very little. it is very close. the final resolution tracking poll has mitt romney up by one point, forty-nine-forty-eight same as the gallup poll which is basically an big key to. we have no clear idea who's going to win but look at this. the final night of campaigning, mitt romney and kid rock packed the house in new hampshire. thousands giving the romneys a standing ovation that they were on the verge of tears about but in columbus, ohio with j.d. and bruce springsteen, the arena was half-empty. enthusiasm pointing towards romney. let's start with our obama guy, john peoples, enthusiasm for romney, not the president. >> can't say it is enthusiasm for romney, half the countries into supporting the president, half of the country looks to like governor romney. stuart: how many people do you
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know, you mix in democrat circles, how many voted for john mccain in 2008 but will now vote for president obama in 2012? >> very few. stuart: any? >> very few. >>, who voted for president obama will now vote for governor romney in 2012? >> there will be some switches. those in the top end of the income spectrum are more inclined to be voting for governor romney because he has more for him. middle america, the president has carved out his stake. the president has been an advocate for the middle-class. she has done that the last four years and based his initial campaign on the middle-class. and sell we have two good men running for office. governor romney is a good man and an accomplished business person, someone who is in an inspiration to all of us who believe in capitalism which i do and i think he would do a good
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job. president obama would do a better job. [talking over each other] you are here for the hour and we will discuss your point of view. enthusiasm for romney and i call the election for romney because of enthusiasm. >> you can at the enthusiasm level par where they were in 2008. the president hasn't focused on his base, not the middle. independents have broken with romney and they are breaking in double digits. the middle always determines the election and the middle of the time with mitt romney. the fact the we are talking about pennsylvania as a swing state is a very big deal. the momentum is firmly in mitt romney's camp and the president is nervous about the numbers. stuart: am i reading too much into that side-by-side video where we have mitt romney appearing before a cheering crowd in new hampshire and the president despite being backed up by bruce springsteen and half
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empty arena in columbus, ohio. that is where i get the enthusiasm equations from. that is a half-empty state. you got to lead mid that. >> many people have already cast their votes in ohio for the president. she is right. everyone is talking about a high. we should be looking at michigan and pennsylvania. i think pennsylvania is more dangerous for the president that ohio. the president is going to win ohio. stuart: we suspect many of you in our audience of political junkies. you had is a circle on your calendar for four years and he will be up all night glued to coverage on fox business and fox news. joining us is megan kelly who will co acre the fox news coverage. welcome to the program. >> this is fun. there's a lot going on. i am overwhelmed. stuart: i am nervous because i am not used to asking you
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questions. >> let's see how you do. i love how you were ripping europe. [talking over each other] stuart: i lived in america -- [talking over each other] stuart: i left that bunch of socialists. serious stuff. you are covering foring our coverage. the way to roll this group, when can we start using exit polls. at what time? >> we are going to get a briefing from the decision desk and there's only so much we can report in agreement with all the networks and we don't start reporting results until the polls close. it is of 2 viewers across the country to read the tea leaves, and look at what we can report from early exit polls, to talk about the voting but the biggest thing will be virginia closes first, the first swing state to close and that is a critical
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stage. stuart: when virginia closes can you quote exit polls in virginia? >> it is a combination between exit patrolled and raw votes and that will make a prediction in who is going to win because they will look at the raw votes and even though you see on the screen romney has 70% and obama as 30% and we project the state for obama, obama is at 30, romney at 70 because the decision will be looking at the counties have yet to report. and in that hypothetical situation and democratic leanings, they make these on exit polls and how they know this. stuart: what about twitter? this is the first twitter election. peopleeare going to beat tweeting all over the place.
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they will have all kinds -- [talking over each other] stuart: humility sells. people are going to be tweeting around and it is essentially rumor, what do exit polls saying -- against a backdrop of rumor going on outside your realm. >> that had a big effect during the debate because that is word of mouth, who won, people get a groundswell like this guy won and this guy didn't budge who is winning, that will make you change your vote? i don't know if you will have an effect because the results will not be coming out until late in the day. can you get a groundswell glowing on twitter? stuart: at 5:00 tonight we have a guy who follows all of these tweets, he has the key word to factor in non, and the candidates' names being tweeting
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around. >> is helpful to give you a thumbnail view, i don't know if it will change the scan and twitter -- for people who don't follow it, links to news sites, 40 character opinions people offer, people news denis hughes it for news consumption because of a headline out of the new york times, people look to twitter like barry's news stations to confirm what they already believe. i left you have a republican reading twitter and it will change their view. stuart: to get your reaction, who you think will win, it will be inappropriate. >> i don't know any way. stuart: we think we would like to know but we don't. we were discussing enthusiasm. enthusiasm with mitt romney, there is equal enthusiasm with president obama.
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having covered this campaign where is the enthusiasm? >> momentum is behind mitt romney and enthusiasm behind mitt romney but democrats are so good at getting out the vote on election day and that it doesn't matter if they get the non ensues voters as long as they vote for them and have a successful operation in doing that. is interesting, the gallup poll that is serving 9,000 people to find out party identity show republicans, there are more republicans, the electorate as a whole, that is contrary to the battleground states, if we have a more republican electorate with polls showing some people say the republicans don't answer polls, the automatic polls, if they don't respond as much, we might be looking at some sort of romney victory that was not forecasted a lot of these states but we don't know what the truth
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is, and nothing will tell us until the voters vote. stuart: you are reformed lawyer, when you expect the first lawsuit to be filed. >> before the days out. my instincts tell me this isn't going to be one of those elections where it is down to the lawyers because the polls are either right or not right and one man is going to have a decisive victory one where the other. stuart: we wish you the best of luck tonight. you might have a very long night. >> is very exciting and the culmination of this event we have been covering for so long and a lot of us look forward to seeing our families again. that will be great. stuart: fantastic stuff. thank you so much. am on at 5:00. it is easy to push him aside. you were the inspiration for
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that. >> i saw something in some papers that referred to meghan callie and thank you for that and not running papers -- pictures. stuart: how many compliments can we refer up on you. thank you. signs warning looters they will be shot on sight popping up along the jersey shore. rifle exercise of the second amendment? are gun udders single issue voters? will fear that president obama will take away their guns sway the election for romney? wayne pierre will join us at 10:35. tell me what is going on with express scripts? >> ceo is talking about sales. the number one thing is uncertainty about the economy, it is unprecedented to see customers worried so much about
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the economy that medications and drug utilization is actually down. the good news is their accounts have exceeded estimates but the big picture is concerns about the economy. stuart: i have not seen that stock godown $10 and a long time. a big drop for the company. thank you very much. the dallas up 78. president obama's policies failed to get the country back to prosperity. anemic economic growth, i am saying we need to grow 5% to get america back on track. who can deliver that kind of growth? douglas holtz-eakin is next. everyone has goals. take the steps to reach yours, with us with real advice, for real goals. the us bank wealth management advisor can help you. every step of the way. from big steps, to little steps. since 1863 we've helped guide our clients, so they can take the steps to help grow,
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stuart: election day and stocks are moving. i will call it a modest rally. dow jones of 70 points at 13185. some suggest a romney rally, maybe the governor wins the election and stocks go up. just a fraction early. charles payne told us there would be a huge rally if romney wins. interesting move by amazon. they are not home to receive the package and have it delivered to staples, pick a pet or amazon locker at staples. interesting idea. look at chipotle.
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thissis a burrito operation. bank of america, merrill lynch upgraded the stock and up $0.11. it was $400 a share in july. we are back in 90 seconds with douglas holtz-eakin. can we get 5% growth next year? can we do that? we needed.
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stuart: check out the voting lines in new hampshire. the place is packed. mitt romney played to a packed house in manchester last night.
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economic growth 2%, weak economy. can we get the u.s. economy back on track and grow at 4% or 5%? douglas holtz-eakin is the president of american action forum. welcome back to the program. you have got to have four% or 5% growth. that is the answer to a lot of problems. can we do and how? >> if you think about it, 2% productivity growth and 2% in the labour force, to do that you need 220,000 jobs a month. the problem so far has been roughly 2% productivity growth and there is no increase in employment. if you look at the things that going on, that will be useful regardless and a better set of policies which is take off of the table by doing serious entitlement reform, pro-growth
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tax reform that settles the future of our tax code and compete internationally. there are huge opportunities there in the regulatory burden is quite severe. no single magic bullet out there but if you put together that kind of policy program no reason we can succeed. >> marc sandy king out and said no matter who wins the economy is on track to get better. i am not buying that. are you buying that? >> something the getting better regardless and housing market is the key among them and also reality that past the election some uncertainty gets resolved one way or the other but there have been two problems. uncertainty and bad policy and if we choose the latter i don't think we will grow at the rate we could and certainly not what we need to. >> you mentioned the housing market as a basis for supporting this recovery. if you look at a hard hit market, phoenix, miami, los angeles, san francisco, n.y.
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washington d.c. look at those markets, they are doing well. i just left south florida yesterday and in south florida alone there are 82 new construction projects on the board, a third of which are under construction out. that to me look the lot like the mid 1990s when we were coming out of a similar economic recession. >> the housing market will be stronger. no doubt about that. the american action forum held housing events across the country, in las vegas and phoenix and orlando next tuesday and columbus, ohio. different market. the takeaway from those events, there's not a single housing market but a lot of housing markets. the story is not uniformly good and in places where we thought was pretty strong like phoenix, ariz. there's a lot of concern about the fact these are mostly
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cash, investor class going in and trying to make a little money quickly. that is good news. doesn't look like the sustained growth that we want. i personally am worried about the credit availability so the combination of dodd-frank and the new international court battle are going to crimp the credit market. stuart: you know what we are talking about and appreciate you being with us. i got to take you up on something. you cannot tell me that if president obama gets a second term and raises taxes you cannot tell you will get 4% growth. you don't believe that. >> president obama can't raise taxes without republican support. [talking over each other] stuart: obamacare -- [talking over each other] >> forget about obamacare -- [talking over each other] stuart: can you get 4% growth of the raise taxes early in july? you don't think >> no. [talking over each other]
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>> what do you think the growth rate was in 1984 when ronald reagan ran for reelection? stuart: i don't know for sure. >> 39%. when george bush lost to bill clinton -- stuart: i'm not talking about this election but how to get the economy going. this is the united states of america. we are coming out of a robbery session. we should be growing like we were under ronald reagan. weenie explosive growth. we need to be up -- america. >> we came out of the worst recession since the great depression. we were fighting wars on multiple fronts. [talking over each other] >> quadrupled standing and made it worse. everything he said he would do to turn the economy around he hasn't done and i would point to the fact that let me finish, when i was on capitol hill the unemployment rate was 5% and at the same time democrats were screaming and hollering and screaming that that was not good enough. now we see almost 8% double
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digit underemployment, double digits for obama's base and somehow they are saying it is all relative. could have been a lot worse. >> when the president came into office the gross domestic product was-3.-- [talking over each other] stuart: we are $5 trillion in debt. >> 3.7%. stuart: out of time. $5 trillion extra debt. did we get our money's work? the result of today's election could come down to the enthusiasm and it is a reversal from 2008 to. romney events jam packed. another reasonable democrat joins us with that next.
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>> looked at the numbers every which way. the republican enthusiasm and turnout is greater than predicted and the democratic lack of enthusiasm will be greater than predicted. i think the turnout will decide the election. stuart: that was the last hour, calling it for mitt romney. to be sure what is going on you better tune into "varney and company" every morning at 9:20 eastern and don't forget special edition of "varney and company" tonight at 5:00 p.m. eastern. time for a market check. where are we? modest gain.
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our industrial the 67 but there is one stock going straight down. 0. why is it down so much? nicole: the online real-estate company forecasting fourth quarter revenue below analyst estimates. the ceo noting he expects weakness in the display at business. we also have several analysts downgrading the stock. a weak outlook. real-estate online, remember when they went public, public in july of last year. they are under pressure today. stuart: that is an online real-estate company. not a good sign for the housing market. you drag yourself away from that ipad, you were saying that it will lead to 5% growth. jell-o is down. >> that is an online company. ask the voters in florida what is happening in florida. stuart: hold on. we will get to that. normally at this time i bring you my take this is not a normal
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day. tonight we bring you a special edition of "varney and company" at 5:00 eastern. special coverage of the most critical election in a generation. 5:00 p.m. eastern. i will have my take then and you do not want to miss that particular my take. i want to show you this video we showed you a little earlier. mitt romney packed a venue in manchester, new hampshire just hours before the polls opened. compare that to this. president obama's last campaign event and there are empty seats in nationwide arena in columbus, ohio. joining us, democrat stretches joe for ity who ran howard dean's campaign. you saw those videos and i am saying the enthusiasm and intensity is very much with mitt romney and not with the president and that could be a critical factor. >> it is a great advantage obviously but here is what i would say.
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if you want to run to the polls today to vote and i want to walk because i am not as excited as you, if both of us vote it doesn't matter how much energy i have. it also doesn't matter if you got there on your own because you were so excited and i got there because the obama campaign pulled up at my door and put me in a van and got me there. the romney campaign when it models the turnout models exactly the way you are talking. models and on a lower turnout among obama supporters because of lack of intensity. if that is true, andrea and karl rove and a lot of very smart people are going to be right about the number of electoral vote sandy will be a surprise for a lot of obama and a lot of the press if that happens. if the obama people get their
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people out, i am going to right. [talking over each other] stuart: the enthusiasm is going with romney. >> with the very enthusiastic or not whether they voted doesn't matter at the obama campaign is banking on new voters that there are not enough to make up for the independence. double digits romney leading. how does he get there in battle ground states without the advantage in 2008? >> it is the wrong way to look at the vote. independents switch their allegiance every year. it is the reason in one year they will be voting republican, in 2010 you have a big wave for republicans. in other years, in 2008 they identified with the ddmocratic party and voted for obama. we are so polarized right now, independents are telling pollsters there for obama or
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romney already in a republican -- it is diminishing -- [talking over each other] >> remaining independents are appearing to be more republican leaning than they are. stuart: got to wrap it up. using obama wins? as of right now you call it 4 obama? >> i think he wins ohio and wisconsin which is really difficult for romney. stuart: we will find out for short in a few hours. thanks for joining us. new jersey residents posting signs saying looters will be shot on sight all along the coast. a lawful act provided by the second amendment. gun owners worry president obama will take away their gun rights if he gets a second term. executive vice president wayne pierre is with us next. are gun owners single issue voters? he is with us after the break. i've been a superiendent for 30 some years at many
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stuart: areas ravaged by the storm in new jersey. house is occupied. the house armed. or bodies will be shot and thrown in the river. single issue voters are fired up the executive vice
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president of the nra we have wayne lapierre. you can tell the gun owners are fired up are the single issue voters to shift the election? >> there is no more fundamental freedom. go sit in one of those houses that the middle of the night cold, no power, no water and see if a firearm makes use a her. if you don't think it does you are not. stuart: what about a second to administration of obama's ? >> siege of the second dimension it -- amendment. he's trying to hide the issue handing out fliers
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zero bobble will not take your gun. they're trying to get through the election but if they do, locked the door. stuart: what proof do you have? >> the matters it was the at semiautomatic than the side by side shotgun, raising taxes by 500% and eliminate right to carry permits in all states and voted in the senate to put the fire arm industry agribusiness and only one of the nine homeowners who saved his life from a criminal with a rap sheet as long as his arm stuart: repeat that. >> there was a homeowner had
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a fire arm identification card but the town past the done band. a criminal with a rap sheet came into the house and tried to rob the family. the homeowners saved a family obama was only one of nine legislators to vote to prosecute the homeowner. remember he already put sotomayor is injustice kagan on the court. he just said let me get through the election that i will be back. stuart: do you have a strong membership in pennsylvania and ohio with the nra? >> with the wisconsin referendum the polls showed
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the second amendment was four or five points. we love to get the truth out if obama is reelected we will see rampage like we have never seen before. of gas imperious. i am not imagining what they did in the first term like working with the wind. he wanted another semiautomatic and then went after the handgun. protect your freedom. vote today. stuart: wayne lapierre. thank you. peggy noonan is up next and heard take on the election.
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stuart: we have been talking all morning about the enthusiasm of factor. shilling mitt romney has it and obama's does not. not last night. >> good morning. great to be here. stuart: may have said the enthusiasm factor could shift the election. governor romney has a surge of enthusiasm for i think it could swing the election? >> i think it could. look at the crowds. obama's people are fired up his gatherings take place in big venues they cannot felt.
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mitt romney has 30,000, 20,000, there's a lot of passion. we are witnessing the republican base coming together in all constituent parts they think it did not do over the summer. i think it will vote to have a significant impact pricier robbie rising. stuart: you wrote yesterday "i think it is romney. i think he is stealing like a thief with good tools what everybody is looking at the polls he slips into the presidency. he is quite the rising and has been for a while" that
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sure sounds like it to. >> at a certain point* use it around with your friends and everybody says what do think? i was doing a news show sunday morning and a bunch of us were to get there. i said what will happen? somebody blurted out obama i said romney. we had a great conversation. stuart: in 2008 were you not a big obama's 1/4? >> no. but i was sympathetic. i felt i gave him a fair hearing and as encouraging as reasonable to seven news said obama made things worse
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>> in the past few years? stuart: you said that about six months ago. i remember that headline of the "wall street journal" abominate things were. >> >> the column was talking to the republican party to look at it economic factors i think the argument is "he made it worse. stuart: i should have gotten it right. i am sorry. thank you for joining us. lawyer up over a dispute of the election results. will we know tomorrow morning? this s morning? this s of voter recount?limbing est,
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stuart: there are a host of problems that could arise with the election. storm affected voters, the storm and maybe a recount?
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just napolitano is here. >> you want one? stuart: i want a clear-cut decision. >> in 2000 when your colleague had to become an expert with hanging tabs there were very few experts at the bar in united states of america. fast forward 12 years later. list is not a national popularity contest, it is 51 separate contests. and the district of columbia has their own set of laws. but it to their has grown up thousands of lawyers in both parties who are experts of the election law.
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they are placed to strike tonight. stuart: of one side hires the lawyer the other side has to. >> absolutely. democratic lawyers are looking for polling places where democrats have been excluded because of alleged irregularities. stuart: igo to the polling place and i cannot vote for whatever reason i say they do not let me vote? is that our works? >> in new jersey there will give you that provisional ballot so your vote will only be counted of the contest is so close that your ballot may affect them.
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>> the small lawsuits here and there will not tie up the election. what could tied at tonight? >> if the judge and pounds the balance. stuart: would they do that? >> there is a record of people giving the votes to zero or three times literally take them from the polling place to hold them in a secure spot and tell examined the next day if that happens in ohio we may not have an answer. this is the extreme case. but it could happen. stuart: if aside thought they were losing could they do that? >> republicans did that new york 1976 to prevent jimmy carter from the claim
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eight -- from claiming victory. they convince a judge to impound the balance they thought the incumbent president gerald ford could take me york this prevented the nation from having a clear-cut winner until 9:00 the next morning. there could be shenanigans. >> in florida this week my wife went to go to the line was four or five hours long. one of the workers came out and estimated the time person until 11:00 p.m. and said go home. >> they cannot do that on election day. as long is your id nine which is around 7:00 local time they have to let you vote that you will have
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voted by midnight. stuart: you are domiciled in florida? no wonder you are so rich. no taxes. [laughter] >> i pay federal taxes and capital gains. >> that is enough. stuart: put the camera on may. [laughter] we will be back after this. [laughter]
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stuart: we will be back tonight at 5:00 p.m. eastern. steve forbes. monica crowley. mike reagan. tonight 5:00 p.m. eastern. my colleague will be on another channel. >> there is another tv show on at 5:00 p.m. doing well. [laughter]
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>> you will have the final word of the day. the last word. >> i will say mitt romney. 295 electoral count. stuart: i think mitt romney wins the popular vote. >> i say five points. >> looking at the electorate that 10 point* swing, led the turnout, the enthusiasm. >> president obama wins with over 300 electrode college votes and wins the popular vote by two percentage points to seven thank you. is the election day


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