tv Varney Company FOX Business September 12, 2017 9:00am-12:00pm EDT
dagen: big, big thanks to erin elmore, jon hilsenrath and lindsey bell. i love when guy is on because he gets fired about stuff like medicare. varney & company right now. stuart varney, take it away. stuart: that would be me. the president reaches out to democrats. a full-on bipartisan approach to cutting taxes and standby for new record high for stocks, politics and money turning positive. wow, good, everyone, we are not forgetting the millions whose lives are disrupted by irma and we are not forgetting the american spirit who is alive and well. you will see it. we are looking to the future, moving the economy to a stronger growth track for us all. tonight, at the white house three middle of the road democrats, joe, heidi, joe
manchin sympathetic to economic growth. two modern republicans will be there too. erin hatch, pat toome you in pennsylvania and toun. the high-energy president will travel to as many as 14 states barn-storming high cuts. now, before we tell you about today's market rally consider this. in unanimous sanction sanctions on north korea. diplomacy continues. the military option still on the table. irma, yes, was disruptive specially in the keys, two third of florida remains without power, millions face the frustrating way to get back home but it was not the catastrophe in economic terms that it could have been. put it altogether. look at this.
another move up for stocks at the opening bell after a 259-point gain monday, the dow will come within striking distance of new record high today. yes, it is another very big day. varney & company is about to begin. ♪ ♪ >> i regret to say, keys hit very hard, all three of the keys hospitals including emergency rooms are closed and dawn to dusk curfew till in place. the navy dispatched aircraft carrier, abraham lincoln and two other ships to help with search and rescue operations. another region very hard hit, jacksonville, the national waterer service say that is storm surge broke a record. the city tweeted that the flooding is, quote, an incident
of historic proportions. the st. john's river have not seen flooding levels since 1846 throughout the southeast millions without power, millions more waiting to get back home. we are not going ignore this and we are not going to forget it either. now look at this. stocks will renew rally. dow open up 259 up yesterday, up 50 today. we were only 120 points from the record. ash and liz with me this morning. diplomacy with north korea, irma not a catastrophe, the president barn-storms for tax cuts, what am i missing? ashley: i think that does it. the willingness of the president to do what it takes, i know it's upsetting conservatives but nevertheless he's doing what it takes, the market likes it. we may not get the types of cut that is we would like but something is better than nothing. liz: ash is right, stop hating
on each other. i was read if you put two scorpions in a jar they will bite each other until they are dead. these guys have to stop behaving like that. i'm waiting for you to laugh. i don't know what the horse trade is, by the way. how are they going to horse trade, what stays and who goes. stuart: we love how you come prepared with a wonderful line. that tells it all. nobody wins. this is attempt to get moderates from there and put them together and maybe you will get something done. i do agree, it's not going to be the vast tax that conservatives want. ashley: diluted. liz: will they get corporate tax cut down to uk or irish levels, that's the question. will it be middle-class tax cut, that'll hit small businesses, though. stuart: we shall see. i hate to end only time will
tell. i support it, frankly. that's it. ii want to get back to irma and bring florida attorney general pam bondi. good to see you again. >> great to see you, stuart, it's been a long week. stuart: it sure has, dozens of upscale homes unoccupied to florida, open to loaders, how are you going to stop them? are what we are going to do -- well, i guess you have seen the video that's gone viral, most of the country -- most of is state we are not experiencing that just so you know. that's a bunch of idiots in miami who are hopefully still sitting in jail. i plan on talking to the state attorney making sure they are fully prosecuted. stuart: they were the blemish, that's for sure. >> that's right. stuart: we have been contacted by a lot of people that had had to evacuate and they want to know, are their homes safe from
looters and anybody who tries to get in and steal stuff once they are away. how are you going to stop that? >> well, stuart, here is how, governor scott has deployed the entire national guard, we have the national guard everywhere, all of our great sheriffs and polices are out ready to go. what people need to know, don't go back to your home. we still have standing water. what you showed in the video, it's not safe. it's even more dangerous for you to go back and try to protect your home and law enforcement tells you that it's not safe to be there yet because of the power lines down, the lack of power, the water, the flooding still as you saw in jacksonville, florida, where it really wasn't supposed to take a direct hit yet did. there's a lot of good going on, idiots that are looting and i hope they are sitting in jail right now. stuart: you dealt with price gouging of water and price gouging in gas stations.
>> delta, american, jetblue, united, i have been on the phone with general councils. they capped prices some as low as $99 to get people out. they waived pet fees, the planes were packed with pets getting people out of the state because people don't want to leave without pets. airlines have been amazing. home depot today, wait till you hear what they are doing, coordinating all last night. over 80 trucks, home depot, waiting in atlanta packed, ready to go, they are going to have escorts down to our state today bringing cases of bottled water at 2.97 a case, generators, plywood, extension cords, everything people need down in south florida where the home depots are ready to be opened again and that will help prevent gougers who come in trying to
sell generators at a thousand dollars a piece. stuart: pan -- pam bondi, we love that thank you very much. >> thank you. we need that. [laughter] stuart: we will see you again soon, that's a prom. thank you very much, indeed. this is another big story, the big reveal, apple's new iphone. consider this for a second. the value of the company $834 billion. if this launch goes well, apple could become the first trillion dollar company. what's so attractive about the new phone? coming chief correspondent with mashable. spell it out, lance. what do i get for a thousand bucks? >> well, you're going to get redesigned iphone, maybe called the iphone 8, maybe called iphone x because it's ten-year anniversary of the introduction of the iphone by steve jobs. a lot of excitement around it
and screen, no more home button, facial recognition, wireless charging, glass back, potentially a larger phone, more powerful chip, redesigned camera, reoriented redesigned pumped up portrait mode, just going to be so much and of course running ios11 which is also going to give new features and really that's just one thing that we are expecting today. stuart: okay, i want to move on because i want to ask you about the amazon echo tv box. it has alexa built in. let me explain, lance. this is what i want. i want to say, alexia, i want to watch fox business and the tv turns on for me, can i get that with this new deal from amazon? [laughter] >> well, i think that's what's going to happen. what amazon has been doing is introducing new products with alexa integrated, alexa is digital assistant that you can speak to and ask questions and also controls smart objects.
it makes perfect sense for them to upgrade to fire tv and what we have seen in the leaks, is some sort of box. it looks like a larger box. not only does it have microphone that can hear you if you're basically whispering but also speaker as well which may play music, most of the amazon echo devices have speakers, not all of them but most of them do. multiple purposes and this is the thing, amazon is racing hard and fast in the smart home space. they put a lot of amazon echos at home. we know that they are planning something with the echo line because you -- recently you could not buy an amazon echo at amazon.com. stuart: this is right up my street. i'm one of those people who fails to use technology properly. i have a hard time turning a tv set on in hotel room. this sounds to me that it's a perfect gift for me.
alexa turn the thing on. >> i can tell that you must be very excited about the ability to talk to your tv and as usual, you know, you are going to protect privacy and not be listening to you all of the time unless you say alexa. stuart: i shout at the tv. if alexa hears me curse at the tv, i wonder what it will do. lance, you're all right. thanks for joining us. we will see you again soon. liz: take a walk. stuart: cool down. [laughter] ashley: shut up, varney. stuart: look at this. we are going to open with another rally. well above 22,000. if we go up 50 points, we will then be about 50 points away from all-time high. liz: 22,118. stuart: that will put a smile. attorney general jeff sessions, he'll got a plan to smoke out the white house leakers. put dozen of people in national security counsel through lie
detector tests. what would judge napolitano say about that? i simply can imagine. a judge in maryland ordering investigation into three of clinton's lawyers, that would be destruction of evidence. look at this, a small plane crashing at a parking lot in connecticut. it comes in low, clips a tree, there you go, lands belly down fortunately. ashley: good parking job on how it finishes up. are they okay? stuart: wait for it, the pilot 79-year-old walked away with minor injuries. we and he will be back.
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we're coming for you too. at optum, we're partnering across the health system to tackle its biggest challenges. stuart: take a look at equifax down again. that's premarket. it is down again. it is facing dozens of lawsuits after that massive data breach. looks like they are warming up for a class action suit any
time. okay, president trump. forget this for a second. i have to talk a little bit more about equifax because that's a very, very serious subject. massive data breach. look, i do think there's a class action suit coming here -- liz: 23 of them right now. ashley: 143 million possible exposures. i think what really -- not only was it the selling of the stock for bad optics by company members before this became known. if you sign up to protect your identity and protect yourself you contain in the tinny fine print you not being able to sue them down the the road for whatever happens. i think all of this is very bad public relations. liz: great point. sounds like they collected information from unwitting consumers. the question now is what release do consumers get, they get a coupon or something.
stuart: if you get a class action lawsuit, number one they'll be fight for the law enforcement which leads the class action because they get all the money and when there's a verdict and i presume they would win, the lawyers get a ton of must be and the 143 million plaintiffs, coupon, maybe. free credit check down the road. ashley: yes. liz: boy, they're in hot water. two senators bearing down and apparently they tried to lobby congress to soften legal liability requirements for their type of sector company. stuart: should we put it down to they have a problem. ashley: they've got a problem. stuart: a big one if you ask me. back to irma, lawlessness in parts to have caribbean. you have details on what we are dealing with? ashley: we do. you mentioned st. marteen, reports of people looting, reports of british tourists being trapped in hotels, complaining of dangerous looters that have made the resorts
terrifying, unhabitable. the crime is sweeping the island. the military is everywhere with machine guns, this is a, quote, no one is going out without being armed. the british are sending troops, british army islands, soldiers are coming in, boris johnson, foreign secretary arriving today and getting a handle of this and also prisoner escape in british virgin islands, blew a hole and 40 high-level prisoners have now vanished. not a good situation. lawlessness. stuart: british foreign secretary are going down and soldiers are going. liz: richard branson wants a marshal plan. stuart: check out those futures because we are still looking at a nice gain when the market opens this morning. up 259 yesterday, up another 50 today. we are real close to all-time
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republicans. scott, come in on this. i know that you are the show-me guy. i know you're totally skeptical of all this talk from the politicians about tax cuts, but i think this is a bipartisan push and you've got a better shot at getting something done out of this than if you rely entirely on the republicans. >> well, the republicans have proven already that they are more worried about their next elections and who the president is going to be after. i think it's a great idea that he will sit with three democrats and three republicans, obviously that's more of raw common sense approach. shown that he can reach across the aisle as well. both sides of the aisle really don't like him. if he can find somebody that he can work with, surely starting to navigate ways, he will get things done and good for everybody. stuart: you are picking up thelingo of the brits.
you are so right, you are so right. [laughter] stuart: that's the group that runs the party on both sides of the fence. i'm going to see you again at 9:30 for the opening of the market. right now i want to bring in senator baraso, republican from wyoming. mr. senator, the president is essentially going bipartisan. he's saying, forget it. the republicans can't deliver for me. you're a leading republican, i think you've been repudiated. what say you? >> it's good for the president to have dinner tonight, bipartisan, we need tax relief, tax reduction across the country including the states where those democrats will be dining with the president tonight are from all americans need tax deduction, tax simplification, is what we need to stimulate the economy and get back to 3% economic growth that we were used to in this country before barack obama took over as president. stuart: if you bring in the democrats, you are probably not going to get the across the
board sweeping tax cuts, sweeping reform. a lot republicans really want. are you okay with something rather than nothing? >> well, i want significant tax relief for the american, hard-working families. that's what we need tax cuts for working families. that's what's going to make a big difference for our country. i want to work to get the best program that we can. that's a part of it. the other thing that we need is regulatory relief, if you want to get back over 3% economic growth and you need more trade. stuart: mr. senator, i'm sorry that we had such a short time. i know that we have problem with audio there. you got your point in. much oblige to you. >> thank you, stuart. stuart: look at this, 4 and a half minutes to go. we will open the market on this tuesday morning and we will go up again. we are going to get real close to all-time high.
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all-time record high despite harvey, despite irma, despite political turmoil, despite it all, we are going to open up well above 22 grand and we are heading, very close to a record high, i can't say we are heading there because that will be predicting. 9:30 eastern time. make that 48 points, 51, 52 points, i will take. 22,107. liz: 19 points away. stuart: yes, we are. 22,121. liz: 118. stuart: i don't think we have it ready. lots of green. 52 point-gain, 22,100. tell me, where is the s&p, nicely higher, up a quarter of a percent, tell me where is the nasdaq, up another 14 points, up another quarter of 1%. we are up across the board. how about apple out with a new
phone today, where is it, up at half percent at 162. oh, dear, look at general electric, is it down again, no, 13 cents. twenty-three dollars per share. worth a quarter of apple. how about that? how about amazon? price cuts at whole foods units really helping foot traffic and amazon the parent is getting close to a thousand bucks a share all over again. equifax in deep water with the data breach. lots of lawsuits filed. equifax unchanged this morning. who is with me on a very excited day to calm me down a little bit? thank you. [laughter] stuart: ashley webster and elizabeth mcdonald and mike murphy and scott. mike, as -- has this have something to do with the bipartisan dinner and the president barn-storming for tax cuts? >> it does.
you haven't seen a lot of negative headlines of president trump. the hurricane took some away from that. the mainstream media layed off of him after deal with democrats. ly still make the point that earnings have gotten us here and we need earnings to keep us here. earnings are performing. i think we get some sort of a tax announcement, it's the next leg up in the market. stuart: this helps us, this is part of the rally? ashley: absolutely it does. things can start to shift, things can get done which we have not seen up to this point. i do, i think it's good for the market. maybe not what the market would like overall but at least we will get something. stuart: i'm worried about get ago head of the skis as one would say. ashley: you are. stuart: who saying that? i see the possibility of bipartisan deal on taxes. i don't see any possibility of the republican party, the conservatives getting their way. they don't have the board for
across the board tax cuts. i would take something rather than nothing. >> i totally agree with you on that. let me flow another trial balloon by the panel. what if tax cuts make us hold the ground that we have already gained. we have overstretched valuations. money is being put to work for some of the wrong reasons because nobody can return zero, they have to do something so they are buying some of the equities. if we do get tax reform, it will justify where we are at rather than sending to heavy highs. ask the average joe, all-time highs in the economic market -- stuart: respond to that. mike: the average joe is looking out forward. maybe they are not in a better position today, but if we get a tax cut which is going to put more money in small business owners and large owners' pockets, i think that's what's going to make people feel better
and i think the market is pricing that in. if the downside, scott, that maybe hold our grounds and upside as we move high, i will take that. liz: that's an important point but pelosi and schumer want high tax rates on the upper bracket. stuart: they are not part of the deal. the president is not going after schumer. ashley: no, moderates. >> you're abandoning us. he does need all the gopers. who is going to get what as the democrats sit down with the president? ashley: my point is at least there's some trade on the table. stuart: come back and return to sanity. come on. >> i will be. stuart: on the left-side of the screen, record high. apple could be the stock of the day. they are unveiling tenth anniversary iphone, would be the
first trillion dollar company, they're worth 834 billion now. liz: they have to get 194 to be the trillion. stuart: scott, i'm sure you will pour water all over the idea that apple will get to 194. scott: it has a chance if they can put -- pour me a martini every night. they have to have a brand name instead of the bells and whistles. all the phones out there, samsung and the lot. a lot of them pretty much do the same thing that the next guy does. it's going to have to be a brand thing and that's their next fight. stuart: don't you understand the class element? you can win out a brand-new iphone and wow everybody with that, isn't that right, murphy? mike: it is.
apple beat the most powerful brand in the world. people are going to line up. liz: they are going to announce a longer battery life. that's what everybody loves. that's a big deal. stuart: speaking of the charm life for brands, look at this. compare apple with ge, the brand of the past generation. this is a ten-year chart. apple is worth 834 billion, ge is worth 205 billion. ge which was once the darling stock for generation it could do no wrong, now it's worth a quarter of apple. which one would you buy, murphy? >> apple. i wouldn't try to jump into ge. stuart: would scott buy ge? >> well, it's the problem, no. you've got two different stocks, one is a gross stock and the other utility stock basically. it's the perception. when you start off as growth stock like ge might have been at one point in time and slowly but
surely slip into utility that changes everything, that changes the perception. murph is right on this. much more of new blood to give you the feeling that it has chance of growth rather than apple that it's on its way. stuart: you can stay in london a little bit longer. [laughter] stuart: now we are up 70 points in dow industrials. 22,120. liz: new all-time high. stuart: i will takes 22,131 any day of the week. i like it, thank you very much, indeed. here is the amazon story of the day. a couple actually that -- the takeover boosted traffic by 25%. the steep price discounts, that did not hurt, obviously. whole foods unchanged, obviously. but amazon up 3 bucks getting close to a thousand dollars again. there's a streaming battle,
disney pulling its star wars and marvel franchises from netflix and preparing to launch own streaming service. netflix 181. tesla surging after announcing next generation of super chargers. it's aimed at dense cities. owning a garage, rarity there, so an overnight charge might be hard to come by for many, the electric car maker rolling out new chargers in boston and chicago. up two bucks, 366. to irma, florida trying to get back to business. now the storm has past. utility crews working around clock to restore powers to millions of homes. disney reopens today. goldman sachs says irma can have a sizable negative impact on economic growth. i think that will be true in the short term, scott, you would agree with that? >> usually these things in the past have been transitory.
i'm worried about the fact that we are not coming from a strong position anyway. it's good to get back and talk about the economy. look at ten-year yield at 2.1% as i sat in the chair. that doesn't tell me that we should have stocks at all-time highs. something is a miss here, stuart, giving me the reason to be cautious. i'm not saying put your hands in your pockets, be cautious, a ten-year yield of much bigger market saying that we still have danger and the hurricanes aren't good for that in the short term. stuart: murphy. mike: they took gdp number, you hit the nail on the head, 3 or 4 quarters, they increased their gdp by 1%. so net what goldman is telling you, this is going to have the rebuilding, it's going to have a positive impact on the economy. i agree with it 100%. stuart: the market looks to the future. liz: right. stuart: times up scott and for
you mike murphy but fine performance from london, you better get back to america because you catch -- >> i will be back in a couple of weeks. stuart: good, come and see us in new york. >> all right. stuart: 22,122, got it. good stuff. the mayor of houston has a plan to pay for the damage that hurricane harvey did to the city, he wants to raise property tax calling for 9% increase. we are on that. next attorney general jeff sessions has a plan to figure out which white house staffers are leaking, reportedly floating the idea of giving lie detector tests to national security counsels. what will judge napolitano say? i don't know but he's up next. copd makes it hard to breathe. so to breathe better,
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stuart: all right, we will take it, 58 points higher, 22,116. how about this? general motors starting to build fully autonomous cars. there's a leap. nicole, what is going on? nicole: nice stock. i want you to take a look at gm because now they are saying that gm has advantage over other self-driving cars, they have general motors and the self-driving subsidiary crews. they are starting to build on the hardware and getting sensors and radars all built in to the car right off the assembly line. that's very different than what some of the other guys are doing where they are essentially glueing them on after assembly line. they are are working on the software, in the coming months not years they'll be able to test this out. they have staffers who have app, in-house cruise app.
self-driving cars, this really puts them ahead against the other guy who is are still working on integrating and putting these things onto the production line. stuart: $37 a share. that's what gets me going. thanks, nicole, good stuff. attorney general jeff sessions fed up with leaks coming from the national security council floating the idea of giving dozens of people lie detector tests, what would napolitano think about that? what does a libertarian think about that? >> what does the law think about it? i don't know -- he's got a leaking problem in his own office if he speculates to staff -- stuart: wait, wait, are you trying to tell me that the attorney general of the united states cannot give lie detector of people to his own staff or staff of another department, he can't do it? >> correct. stuart: why not? >> because the only way that could be done is if like the intelligence community, when you begin your work there, you sign
a contract agreeing that you can be submitted to a lie detector tests whenever your bosses want. the national security council and justice department don't have such regulations. stuart: he can't just say, hey, somebody is leaking here. i'm going find out who is doing it? >> no, you can find out by asking questions and doing it properly but you cannot administer a lie detector test. stuart: you're all going to take the lie detector test, it's voluntary, take it, if you don't take it, i will draw my conclusions? >> i'm sure he can throw whatever conclusions he wants but if he fires or affects employment status, because, remember, he's taken an oath to uphold the law. the law says you can't affect implement status because of failure of lie detector test, do you want to take one? stuart: muah? >> yes.
[laughter] >> i don't know why he would have suggested something like that other than maybe it was a private conversation and somebody leaked it. [laughter] >> the leakers are closer to him than he fears. stuart: fantastic show this morning, don't screw it up. [laughter] stuart: maryland county judge has ordered investigation of three lawyers, hillary clinton's lawyers accused of i think destroying emails, destroying evidence. >> not quite what happened. a lawyer from new york filed an ethics complaint against three of her lawyers. in most jurisdictions, the only person that can fire an ethics complaint against the lawyer is the client was harmed by the ethical breach. the bar association dismissed the complaint and the judge said, keep investigating. i didn't pick the topics. [laughter] stuart: one more for you. >> all right. stuart: 16 years of 9/11 and
still haven't brought alleged perpetrators to trial. >> they ought to be indicted and tried in lower manhattan where the crime took place. about 175 terrorists cases have been prosecuted successfully. the justice department is far more adept than this than the military. stuart: there is a trial ongoing >> it has not started. they are going through the preliminaries about how evidence was acquired 16 years after the crime was committed. the trials took 3 and a half years, dispatched 22 high-ranking nazis. sat for 216 days, the court has yet to sit. stuart: that's pathetic. >> bush suggested be done in cuba by the military than the task force which is the most adept agency on the planet and
abides by the constitution. the argument i made 16 years ago. [laughter] stuart: thank you, judge. >> you knew you can liven this place up. stuart: i'm trying. don't bring on the queen elizabeth voice. >> i don't know what color it is. i will see you in the 11:00. stuart: look at this, we are still holding onto nice gain, ladies and gentlemen, the dow is up, lots of green on the left-hand side. hurricane irma bringing record florida to jacksonville, rivers of water pouring down the streets, 400 people had to be rescued yesterday, live report from florida after this.
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your honor, i think you got hit with the storm surge big-time yesterday, is that correct? >> that's correct, stuart, thanks for having me on. we actually faced the north eastern prior to hurricane irma hitting the shore so our ground were pretty soaked and drainage ponds and reservoirs were filled. stuart: much of florida escaped real structural damage but what about you? >> we were fortunate as well, we had 7500 homes received minor damage, eight with significant damage and then we had five that were major damages, pretty much total loss. for a hurricane, that's pretty good. we had mostly wind and flooding damage and still continued to fight through restoration. stuart: are you still in rescue mode? have you started recovery mode yet? >> yes, sir, we are in recovery
mode. we initially lost 90% of electric customers and we have 86% back. we are working hard to get the rest on board today. we are working hard to bring things back to normal. stuart: for those people who evacuated jacksonville beach, can you tell them to come back or are you holding back again? >> we opened the bridges at 6:00 p.m., so most of the folks have come back. we still have spot flooding and with the assisting of jacksonville office we are isolating from the public but we were able to get the majority of folks last night. stuart: sir, looks to me that you are doing pretty well, looks like you recovered pretty fast. >> unfortunately when you've done three hurricanes in 13 months the practice kind of helps but most importantly we've got a tremendous team of 325 employees that really know what they are doing and -- stuart: your honor, i've heard that up and down florida. we have a great team in place.
help is on the way, things are turning around. look, thanks for joining us, your honor, charles latham, jacksonville beach. how about that? next case, president trump he's going to barn-storm for tax reform. 13 states in seven weeks. he's going to the states that he won in november. he's targeting vulnerable democrat senators. here comes the bipartisan tax push we'd been waiting for, that's my take coming up top of the hour
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stuart: the president holds a white house dinner tonight. he's invited three democrats and three republicans, moderates all. the theory is move to the center to get tax cuts. by the way, the three democrats are from states that voted heavily for candidate trump, and they're up for re-election next year; joe connolly, indiana,
heidi heitkamp, north dakota, joe manchin, west virginia. this is bipartisan outreach. then president trump travels to a dozen states in the next few weeks, pushing hard for tax cuts. he will go to the states which he won in november which have democrat senators representing them. surely, he can get some of those democrats to hive off and vote with him, because they're up for re-election, on tax cuts. let's be clear, the president will get very little support for really big tax cuts from senator schumer or former speaker pelosi. the democrats' leadership is stuck in tax hike country. but the moderates, they're a different story. the president proposes a middle class tax cut. not a bonanza for upper income people. he wants a big stimulus for small businesses. some democrats will be attracted to that. after all, they lost the election because they lost the middle class vote. it's not the tax cut agenda that conservatives dreamed of.
they don't have the votes. it's political reality. the president is putting the republican leadership on the spot. they have so far failed to deliver, so he's turning to the center. he will take what he can get. and if middle america wins one, we all win. the second hour of "varney & company" is about to begin. ♪ ♪ stuart: whoa, high of the day, 75 points higher, 22,133. the s&p, that hit an all-time high right at the opening bell. the all-time closing high of 2495, if it gets above that and closes above that, you've got another new record on the s&p. mcdonald's, ooh, down, what, about 2.5%. do remember it hit an all-time high yesterday, retreating the 157 this morning. big tech stocks, here we go.
apple introducing the new iphone. it's been run up already, it's down a fraction today. facebook is down a fraction, but amazon, microsoft, alphabet, they are all up. now look at the suppliers, apple suppliers like western digital, they are up because they supply the parts for the new apple iphone, at least some of them. they're up on the apple bounce. i want to get back to my editorial at the top of the hour. fox contributor steve cortez is with us now. steve, i know you listened to it. i'm saying, look, the president's putting republicans on the spot because a they've failed so far to get anything through. and he's saying to the democrats, you give me some help, and i'll give you a middle class tax cut. i say that's a good thing, and it's helping this market this morning. what say you? >> i totally concur. it's a great thing for america, it's astute politics, it's being a strategist. and by the way, he already showed his hand in what he did with hurricane harvey funding
when he made a deal with democrats, so i think you're combatly right. he has -- exactly right. he has put the republican leadership on notice. yes, he's a republican, but the trump movement wasn't really an establishment republican movement at all, and he's willing to cobble together whatever coalition he needs to to reach the policy goal of tax reform and tax cuts. stuart: yeah. but let's be clear, what can he expect even from moderate democrats? he's not going to get an across-the-board tax rate cut for small businesses, all individualings. it's going to be pared down, isn't it? >> i think you're right on that score, unfortunately. i wish we could have truly transformational tax reform, something we haven't had since 1986. stuart, i couldn't drive a car, i wasn't old enough the last time we had serious tax reform in this country. so it's a generational imperative that we get it. i don't think we're going to get that in the coming weeks, but a tax cut for the middle class is still badly needed. and you're so right, i think you alluded to the fact that
democrats will try to grandstand and say this is only a tax cut for the very wealthy. under the president's proposal, a lot of wealthy people who live in high-tax states and municipalities may very well see their taxes go up. so this is about middle income tax relief, and i think he's so smart to go to these states where some of these senators may be vulnerable and may be pressured into cooperating for once with the administration. stuart: now on the screen at the moment, we've got the six senators who'll be at dinner with the president tonight, three moderate republicans, three moderate democrats. they're hoping for an agreement there. and then the president sets off on, what is it, 13 states in seven weeks, i think it is. this is the barnstorming we've been waiting for, i guess. >> and this is the president at his very best. he often gets criticized for twitter, for his rallies. when he speaks directly to the people whether it's electronically or in person in these rallies is when i think he's at his most effective.
this is a man when spoke to the people last year in 2016 in a way no politician ever had, pulled off the greatest upset in american political history. he's a man now as president who still has his finger on the pulse of america's worries and opportunities. when he needs to, when he's out there pressing palms, talking to the cheering crowds, he's at his best. and if he does this -- and he's going to, when he does this -- unlike health care where he sat back and allowed the congressional leadership the take the lead on trying to pass health care which, of course, they miserably failed on, unlike health care, the white house is taking the lead here, and the president himself is going to be the salesman in chief to, i think, get this over the goal line. stuart: you're a trump guy, you're a financial guy, and you're one very happy guy this morning, aren't you? i can tell. you are, respect you? >> i am. look, there's so much good news out there -- stuart: optimism. small business optimism, highest level since 2006. that's right up your street. >> your right -- you're right, it's fantastic. wall street's growing and so is
main street. we see it in that survey, we see it yesterday, mastercard and visa both up to new all-time highs. what a terrific read on consumer optimism. don't listen to the mainstream media. the optimism is palpable. but what we need now to really accelerate the growth is our tax cuts. if we get them, and i still hope and believe that we can get them, if we get them particularly soon, we get them by thanksgiving, i think you're going to see a 2018 economic explosion. stuart: whoa, we'd like that. steve cortes, we'll take it. thanks very much, indeed. see you again shortly. now, i want to get to irma again. it is a tropical depression to be technically accurate. dropped a whole lot of rain on georgia overnight, and a million people in that state are without power. come on in congressman jodi his, he represents an area east of atlanta. congressman, can you give us an update on damage caused in your area from the rain as irma departs? >> yes, stuart, thank you for
having me. by the way, i had to travel about 20 miles from my home just to get cell coverage this morning. i'm literally sitting in a cracker barrel parking lot right now -- [laughter] stuart: thank you, congressman. thank you for doing that, congressman, we appreciate that. >> just a little bit of personal touch. it's been severe, the damage has been severe. i just got off the phone with georgia emergency management association assessing and getting a briefing as to the latest. there's still 1.2 million georgians out of power. the damage has been significant. three lives have been lost, and, you know, that is bad enough, but it is, again, a reminder that when we prepare, preparation saves lives. and i think we did a great job in helping prepare for this. and i just say hats off to all our state, local and federal workers in this. stuart: yeah. i think georgia kind of got almost forgotten because the heat was really on in florida. i think you guys got a little
forgotten there that irma still has a sting in its tail. >> it sure did, you know? i've never experienced anything like it. it was about seven or eight hours of just -- and we, listen, it was brutal winds for georgia. stuart: yeah. >> yes, i appreciate your comments. stuart: forgive us, congressman, because we're looking at a wonderful stock market rally. we've not forgotten the suffering of those good people who had to evacuate, so just bear that in mind, please. we're not forgetting anybody here. but i do want to bring up what purchase is doing tonight -- president trump is doing tonight, that's a bipartisan meal with three moderate republican, three moderate democrats. congressman, i have to put it to you. you're a member of the free come caucus. you are a conservative -- freedom caucus. the president is turning away from you because you don't have the votes for the tax cuts you want. what do you feel about this bipartisan approach from the president now? >> look, i think it's good for america if we can get any tax
reform across the line. we're certainly doing all we can to keep this as conservative as possible, tax cuts for everyone and authentic reform in our extremely burdensome and cumbersome tax code. but, you know, it's probably a good step in the right direction. obviously, we don't have enough votes by ourself as conservatives, so it's going to require bringing onboard some moderates and others in order to get something across the finish line. so, yeah, i'm not at all opposed, i think it's a good step in the right direction. and at the end of the day, the moderates don't have the votes by themselves either. they're going to need us, so i'm hopeful that all of us will be able to come to the table, give our input and, at the end of the day, get what america needs, and that is authentic tax reform. stuart: sir, that's great to hear that. jody hice, thank you for going out of your way to join us. i appreciate the effort. good stuff, thanks for joining us. >> thank you. stuart: the mayor of houston wants to raise property taxes 9%
i think it is to pay for hurricane harvey repairs. he says this is temporary? >> he says it's temporary, but it's making a lot of families really mad. they're struggling with flood and wind-damaged homes. they're saying why dent you tap in-- why don't you tap instead the state's rainy day fund that was built to deal with oil boom and busts. you've used it, texas, in the past to deal with crises. now these families are struggling with their damaged homes, he wants $113 million in property taxes to pay for debris removal, what fema did not cover. fema covered about 80% of the storm costs, so he's asking for that money to come in. they're saying, hey, wait a second -- >> once you put it in, good luck getting it out. they always say temporary, but you know what i'm saying? >> yeah, it never goes away. >> trying to get rid of it -- stuart: do you happen to know if the mayor is a democrat or republican? >> he's a democrat. argument is the average home, the assessment would be $10 more
a month, but they're struggling dealing with their own homes. stuart: yeah, really. and you've got a rainy day fund sitting there? >> $10 billion plus. stuart: what is it for except to deal with rain -- >> yeah. and they have used it in the past to deal with disasters. they've tapped it in the past, so tap it again. stuart: maybe governor abbott will straighten him out. >> maybe. stuart: i don't know about that. check this out, please. disney world reopening this morning. it's in orlando, of course. pretty much unscathed from irma. it's only the sixth time that it has ever closed. of course, we've not forgotten florida or georgia or south carolina. we're on it all the way through the show. we're stressing other things as well, because they are important, but we've not forgotten you, florida. lawsuits against equifax piling up. 143 million exposed in a cyber breach. question: who sees the money from those lawsuits if they win? the victims or the lawyers? you know the answer. hillary clinton's new book out today.
"what happened," that's the title. some members of her party are just wishing she'd get over it. we have of that story as well. you are watching the second hour of "varney & company." ♪ ♪ retirement rabbit, from voya. i'm the money you save for retirement. who's he? he's green money, for spending today. makes it easy to tell you apart. that, and i am better looking. i heard that. when it's time to get organized for retirement, it's time to get voya. the toothpaste that helps prevent bleeding gums. if you spit blood when you brush or floss you may have gum problems and could be on the journey to much worse. help stop the journey of gum disease. try parodontax toothpaste. ♪
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stuart: it is another rally all across e board, the dow is up about 60, 22,115. the s&p 500, that's hit a record high earlier this morning. maybe on track for an all-time closing high too. shares of goldman sachs moving higher, detailed a $5 billion growth plan for the company, up 2%. goldman sachs doing well. one factor in the market rally, united nations. it passed more sanctions on north korea. >> watered down. the original proposal was to,
essentially, a complete oil embargo on north korea, also asset and travel freezes on kim jong un. those were not agreed to by the u.n., so they watered it down on a unanimous vote. but, you know, okay, so there's oil, there is oil, caps on oil imports and other imports and what have you. yes, it's more severe economic sanctions. does it stop the nuclear and missile program in north korea? absolutely not. stuart: but in the short term, it's diplomacy rather than shots fired in anger. >> correct. it's more of the same, to be honest. stuart: but it's not going to war, and the market likes that, i suspect. i think that's a factor in the rally. >> yeah. stuart: i've got to get to equifax. it has been hit with more than two dozen lawsuits since the massive cyber breach. look who's here, mark mark lanier with the lanier law firm. all right, i'm going to lay out what's going to happen.
you are going to try to be the lead law firm in the class action lawsuit. when you win, you will make a great deal of money, and us poor plaintiffs, the 143 million who have had our information revealed, we might get a coupon. [laughter] what do you saysome. >> oh, heavens no. we've got to do much better than that. look, here's the problem. equifax has no other exposure other than lawyers. if i don't come take care of you, stuart, nobody's going to. the federal government's not, nobody else. what i've got to do for you though is get you not a coupon, i've got to get you security that's going to help you protect your information one year, two years, five years, ten years out when someone steals your identity and takes a loan out in your name. stuart: i know you filed a lawsuit, let's get serious here. you filed a lawsuit. on what grounds and what damages are you claiming? >> well, the damages are clear. 144 million americans have had their identities breached or
stolen by this horrible thing that's happened. and understand, this isn't like yahoo! where you use equifax. equifax has your information, and nobody uses them except banks who want to give you a loan or employers who want to check to see if you're useful or home lenders who want to see if you're going to be okay in the home. so people access this data, but no american goes to equifax and hires them. that doesn't happen. so they've stolen the data, and the problem is you won't know until you've had someone use your credit or something like that. so what we've got to do is we've got to monitor this. stuart: it looks to me like you've got a slam dunk case, to be honest with you. >> i think it's a very solid case. what we have to do is exactly what you pointed out, make sure lawyers don't get into this who are on equifax's side in a sense and just looking for a quick lawyer payday without taking care of the customer. stuart: equifax has a market
capitalization, it's worth $13 billion. you know, you could put them out of business. >> well -- [laughter] i don't know that we'll do that, but what we do need to do is make them pay to monitor and to take care of those people. you know, look, they ought to be as secure as a bank. we live in around internet -- in an internet age, companies have to have security of a high level. they've got all your information, stuart. stuart: yes, they do. do you think you can bring them to the negotiating table before it goes to a jury or a judge? >> absolutely. they can't afford to let this go to a jury. stuart: mark lanier, are you a trump guy? you are a christian minister, i know that, and i know that you are a lawyer extraordinaire. you still a trump guy? >> i've got to tell you -- and i'm a republican. stuart: yes. >> i do have to tell you i'm a big fan of a number of republicans, including paul ryan. i'm a big fan of a number of things that trump has done. and i applaud his
bipartisanship. what you said about tonight, i think what you said at the top of the hour is spot on. we knead to find some -- we need to find system way of him doing bipartisan work for middle class america. i'm not a fan of some other things, to be honest. stuart: okay. you want to come back on the show? [laughter] >> always, always. stuart: good. glad to see you again, mark, you're a good man. >> it's the best show on tv. everybody keep stuart on. stuart: thank you. i like that. >> wow. stuart: you're coming back tomorrow. [laughter] thank you, mark. we'll see you again soon. >> always. stuart: now, this is the day the tech can keys are waiting for -- techies are waiting for, apple unveils its latest iphone about three hours from now. we're going to tell you what $1,000 gets you, okay? we're going to cupertino next. ♪ ♪
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stuart: apple unveiling the latest iphoe about three hours from now. hillary vaughn, she's at the event in cupertino. here's my question, hillary, what does $1,000 buy me? >> reporter: stuart, well, this is probably the biggest makeover for the iphone that we have seen yet. ten years ago steve jobs introduced the world to the iphone, and today they're coming out with their tenth anniversary model. you're right, we're hearing that it could cost up to $1,000, that would a make it the most expensive iphone ever, and reports say it's going to be called the iphone x. here's some of the new features that have leaked online that give us an idea what apple's ceo, tim cook, is going to announce today.
facial recognition could replace touch id which means face id would allow you to approve purchases just by looking at your iphone. the new feature would also let you create animated emojis that look like you using your own facial expressions, new features like wireless charging and face id mean we could see the iphone home button disappear and means users would spend less time looking for an outlet to plug their phone in. this higher price point could mean more profits as the company comes closer to being the first trillion dollar company in the world. we also expect announcements about possibly 4k resolution for the apple tv as well as cell phone connectivity for the apple watch which means you could make and take calls all from your wrist, stuart. stuart: okay. i'll take that. thanks very much, hillary vaughn. i want to go around to our colleagues here. $1,000, and you get all that hillary laid out -- >> yeah, i'm not going to buy it. i'm waiting for my phone to
bounce like a basketball, because i'm always cropping it. why would you -- i'm always dropping it. >> unless it makes me a good cup of tea, no. [laughter] stuart: good luck with that one. more than six million floridians without power, that's the latest count. we'll have an update for you. when will the lights come back on? how much help are they getting from out of state? the answer is a lot, and that's a fact. president trump hosting a bipartisan dinner tonight at the white house. tax reform. he's courting moderate democrats. then he's going to target vulnerable democrats from states he won november. a barnstorming tour, here it comes. ♪ ♪ where to get in... where to get out.
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♪ muck bad, bad leroy brown, the baddest man in the whole -- stuart: i know the song, of course. i don't know who's singing it, but i don't care. it's a great song. check that big board, the rally holds, 43 points higher. 32,100. -- 22,100. what are you laughing at? >> trying to remember the singer. [laughter] stuart: show me the big five technology companies -- >> jim croce. stuart: of course. only amazon is up amongst the big five. amazon's pretty close to $1,000 a share. then we have comcast, it got an upgrade. it debuted a youtube app on its x infinity one, i have no clue what that's about, but the stock is up nearly 2%. jeff flock is on the road in florida. last hour he told us he was going to check up on his mum. watch this. >> reporter: and i'll tell you this, my mother spent the hurricane in her bathtub in a town not too far from here.
so next hour -- [laughter] if it's all the same to you, i may stop by there. i haven't told her i'm coming, but i'd like to see how she fared. so, you know, you had my daughter on last hurricane, i figure we'll give my 91-year-old mother a shot if you're up for it. stuart: jeff, that is just fine with us. it's becoming the jeff family -- [laughter] the flock family show. >> reporter: i'm running out of family members though. i have ex-wives i could pute shs
interview, let's do something serious here. you're in charge of restoring power to florida. which part of florida -- where do you start? who gets the juice back first? >> well, we actually are making progress, and it really depends on where you live in the state of florida. let's just take it right down the middle of the state. to the eastern part of florida, the east coast service territory -- and we run from the georgia line all the way down toward the tip of the keys and come around up toward tampa. we expect that we'll have all customers essentially restore by the end of this coming weekend for that eastern portion, the eastern seaboard portion. the western portion which we know took a much harder hit, what we're saying is we expect to have all customers essentially restored there by the end of day on the 22nd of september. so it's a long restoration, but we've been getting out there,
we've been getting a good sense of the damage, and now we are, we're able to put a little bit more meat on the bone and really give what our customers want, which is some understanding of the process. stuart: rob, thanks very much. i'm going to repeat that. i'll get back to you in a second. you've got all power back on the eastern seaboard where you serve by the end of this weekend, and you'll get the west, the gulf coast, back to power at the end of the 22nd day of this month, september 22nd. rob, i'll get back to you in a second. brian kilmeade is joining us, he's live on the radio now. i want your comment, please, on congressman gutierrez, he called white house chief of staff john kelly a disgrace to the uniform. now kelly's firing back. here's what he says: they can call people liars, but it would be inappropriate for me to say the same thing back at them. empty barrels make the most noise. the congressman has a right to his opinion. brian kilmeade, this is the president's chief of staff laying down the law to
congressman gutierrez, isn't it? firing back. >> yeah. and in a very subtle way, he is also saying do your job. the president of the united states kicked it back to congress to do something that the president did that was unconstitutional, i'm talking about president obama. and now with general kelly, who is the chief of staff -- someone should tell this illinois congressman how the white house works. he doesn't usually set policy. not many people said, andy card, great job with the invasion of afghanistan, and why didn't you do a better job holding the peace after a successful invasion of iraq. you know why? because president bush did it. the other thing is the congressman has taken on a gold star father who is a commandant of the marines who already showed more valor and has given more back to this country in his 45, 50 years of service than anybody else. general kelly was happy in retirement. when he was asked by president trump, a man he barely knew, he said what do you think to his wife, his wife goes, what do you
mean what do you think? you're a patriot. if you're called on by your country, you have to serve. so he gave it all up to do homeland, and now he's at the white house when most of the time he could be kicking back enjoying things on the gulf coast or in florida or in los angeles. and this clown calls him out. and if he doesn't apologize soon, he'll have no constituency at all. stuart: okay. i want to talk to you about this bipartisan approach on tax cutsing and the tax -- cutting and the tax reform plan. the president holds the dinner tonight with moderate republicans and moderate democrats, trying to bring the two sides together down the middle. then a barnstorming tour, 13 states in seven weeks. looks like it's a bay partisan approach to tax reform -- bipartisan approach. do you approve? >> i do. you can be a staunch conservative or libertarian, it takes one way to get 60. you need democratic votes. so find out what they want. find out what they need.
you plowed the ground by giving chuck schumer and nancy pelosi what a they wanted to show, put the pressure on them to say now i gave you something, now you can deal with me. what you also did, stuart, is you gave a message to joe manchin, to jon tester, joe connolly and heidi heitkamp, these are senators up for re-election in trump-won states that, hey, chuck schumer, you're not going to stop me from doing a deal. so he finds out what they need. he knows what their states want because he won those states. and then you go out and sell it. here's the problem, what are we missing? an actual product. as i just talked to james jordan on the radio show, he said i would love to debate the good and bad of a tax plan, but all i've seen is an outline. tell me what we have. can we see the product. stuart: let me give you the outline as told to us by gary cohn on this program. you get a business tax cut, a business rate tax cut, you get a
rate cut for individuals, but you get a clawback of some of the deductions used by upper income people. that is a middle class tax cut. that's the broad outline of it. you don't touch pensions, you don't touch the mortgage interest, you don't touch charities, that's what you do right down the middle. i think there's going to be democrat support, some support, for that plan. >> reporter: and i saw that interview, it was great, and gary cohn would not commit to cutting the upper tax rate which if you don't free up the money from the people who have the most success, what's there going to be to trickle down? having said that, by keeping your powder dry on that notion, we're about to find out, you keep democrats from firing off at you because that's all they care about. stuart: right. >> they want to be the party of the middle and lower class when this president got elected by being somebody that's going to give the working class and the middle class a voice. however, i do think -- and you know better than me, stuart, because you go to all the cocktail parties of these really rich people who should be respected, not vilified -- they
do deserve some type of tax break because president obama jacked up their rates over the past seven and a half years, didn't they? stuart: my goodness me, brian kilmeade, that's a wonderful story. look, there will be a cut in the upper income tax rate. don't know how much, but there will be a cut. but it will be clawed back by the end of some deductions. that makes it middle class. i'm in favor of it, and i think -- the market likes it too. brian, i'm out of time. thanks for being with us, as always. >> see you in the elevator, stuart. stuart: hillary clinton blaming everyone for her loss in 2016. her book is out today. jonathan allen got a jump on it. he wrote the real account of what's happened. he's next. ♪ ♪ think your large cap equity fund
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home. we still have standing water, just what you just showed in that video. it's not safe. so it's even more dangerous for you to go back and try to protect your home when law enforcement tells you it's not safe to be there yet because of the lack of power, the flooding as you saw in jacksonville, florida, where it wasn't supposed to take a direct hit there yet did. but there's a lot of good going on as well as those idiots down there looting who i hope they're still sitting in jail. ♪ ♪
stuart: ah, hillary clinton released her latest book today. in it she blames comey, the russians, wikileaks for her failure. even senator al franken had some harsh words for her. roll tape. >> i love hillary. i think she was very prepare to be president of the united states -- prepared to be president of the united states. i think she's the smartest, toughest, hardest working person i know. but -- and i think she has a right to analyze what happened, but we do have to move on. [laughter] stuart: true. joining us now, jonathan allen, co-author of the book "shattered: inside hillary clinton's doomed campaign." all right, jonathan, have you read hillary's new book? >> i have, cover to cover. stuart: where is she going wrong? >> well, she basically, the underlying theme of her book is it's not my fault. and i think that there's a real
emphasis on jim comey and his effect at the end of the campaign that she doesn't tie back to the fact that she set up the e-mail server in the first place, that bill clinton met with loretta lynch on the tarmac, forcing jim comey into the spotlight or at least giving him the opportunity and, of course, the russians. while i think those are factors, she also blames bernie sanders a lot, all these things are factors in the outcome of the election, but bigger factors in my mind are her failure to put together a message that was about the american people and not about her, the e-mail server scandal in and of itself and these speeches to wall street banks that not only was bernie sanders able to hit her on, but a also donald trump in the general election. stuart: what got me is when she said trump supporters are sexist, racist, islamophobes, deplorables, etc., etc., etc. at that point she lost america. because she was accusing america of being a racist society,
essentially, and she walked away from america. it was her fault. >> she said half of donald trump's supporters were deplorable -- stuart: yes. >> and then went on to say that they werer rechemobl. and, you know -- irredeemable. not only a basic tenet of americanism is the idea of second chances and being able to sort of come back from adversity or from, you know, changing and evolving views or whatever. but all the religions i know believe that people are redeemable. stuart: precisely, yes. >> what's interesting, in this book is she doubles down on this idea of deplorables and says, you know, basically i'm sorry i kind of put a number on it, but she says she's sorry that people misunderstood what she meant. and that there are, in fact, deplorables, but she wasn't talking about all of trump's supporters. so basically she's saying if you're a trump supporter, you're either deplorable or not smart enough to stick with her and understand who she's talking about. stuart: is she blaming political journalists as well for her
loss? i think she takes matt lauer to task. >> she goes after matt lauer hard for -- his was a town hall sort of situation he did with her and trump, separate interviews back to back. stuart: yeah, i remember that. >> she believes he spent way too much time on her e-mails and whether she had posed a national security threat to the united states and felt like he didn't really go after donald trump. matt lawyer's certainly not the only people, chuck todd, other networks that i shouldn't name, but she goes after journalists by name. stuart: all of the people you mentioned were essentially -- [audio difficulty] i don't think any of them were trump supporters. >> i believe that those folks are all independent journalists who work hard to get the truth and, you know, people may believe that they've got certain bias or may detect those things, but all of the people that she went after personally including some of "the new york times" reporters are honest people. i know some of these people, i don't know matt lauer, but he could come to a party at my
house if he wants. [laughter] i think what's going on on heres she's seen how donald trump is able to work the press by bashing them a lot and she thinks maybe i can get some of my supporters also to believe what i'm saying a little bit by bashing the press. stuart: well, for what it's worth -- >> you're not going to get me to bash -- stuart: i read "shattered" cover to cover. didn't take me very long, i liked it. >> thank you very much. stuart: jonathan, thanks for being with us. that's the book, "shattered," on your screens right there. now, we've still got a rally in progress. not quite the rally we had earlier, but i'm calling it a rally, because we're at 22,000 -- >> still on the plus side. stuart: therefore, a rally. [laughter] we'll be back, everyone. great show.
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>> a senate hearing on financial technology is underway, but senators are asking plenty of questions about that equifax hack. come on in, adam shapiro. what's going on? >> reporter: well, this is the senate banking committee, and they are talking about financial technology and regulation, but it's the 143 million americans who had their personal information stolen as a part of the equifax credit breach, the hack that took place that's getting front and center attention. i want to show you why this is important to you. take a look at sherrod brown.
he is asking equifax to remove its force arbitration clause for all of its clients. now, if you signed up for the equifax free credit monitoring for one year, originally if you had found a problem, your legal options were limited because equifax has a forced arbitration clause. after complaints from republicans and democrats, they removed the clause for clients who take part in the one-year free credit monitoring. everyone else after that, you still are subject to forced arbitration, they want that removed. equifax is not at this hearing, senate banking is planning a hearing in the future with equifax representatives. the key here, ashley, forced arbitration clauses exist in hot of contracts. you, me, all of us have signed them, you may not be aware of it. back to you. >> adam, thank you very much. interesting stuff, certainly equifax on the hot seat no doubt, stu. stuart: we've got a story here on amazon and whole foods? >> yeah.
if you want it, yeah. stuart: whole foods, more foot traffic because of discounts? >> that's what the story said, 25% pop in foot traffic within the days of the acquisition by amazon of whole foods. but watch this. yeah, they cut prices maybe as much as 43% on certain items. the prices at whole foods are up 35% more on average than other, you know, retail, grocery retailers. so did it trigger a price war? yes. target is coming back cutting prices on thousands of items where there was maybe four dozen items at whole foods that were cut. stuart: but it worked. it got the foot traffic up. >> people coming in, taking a look-see. prices are still kind of high, but, you know, hey. stuart: how about this? we found out today the president plans to barnstorm all over the country about taxes. he's going to head to, i think, 13 states pushing for reform. this is a big deal. we're all over it. back in a second. kevin, meet yo.
. stuart: my! how times change! and quickly. you only have to go back a few weeks and the trump haterses were triumph fant. they thought he wouldn't complete his first term. harvey, irma and deals with democrats, changed the political landscape dramatically. president trump is on a political upswing. he marshalled resources for texas and backed up the strong performance of governor greg abbott. the media sniped at melania's shoes. pathetic. marshalled resources for florida and backed up the strong performance of governor rick scott. media can't get to grips with the public displays of faith and the inspiring volunteer spirit. they lose. trump's winning. and don't forget the president's shock deal with the democrats over the debt and hurricane relief. that was a repudiation of republican leaders.
they couldn't get it done. it turned to the democrats who did. now he's courting moderate democrats on a big white house dinner tonight and sets off to walk 13 states, barnstorming for tax cuts. you're seeing a political realignment of sorts. the president's leading it and gaining strength politically. if it works, and it gets things done, and the economy really starts to grow, watch out left and right. the center is about to have its day. the third hour of "varney & co." is about to begin. it is a rally all across the board. dow is up 45 points. rlier we saw the s&p hit an all-time high. left-hand side of the screen, the remnants of irma, now moving north after dropping a lot of rain on georgia overnight. the next storm that we're
watching hurricane jose. we'll get an update where that storm is and where it is headed? but first let's deal with politics. president trump hosting a bipartisan dinner at the white house tonight, focused on tax reform. blake burman at the white house. who's going to be there? reporter: four bits of news on the tax reform front. let's start with the dinner you referenced. three republican senators and three democratic senators tonight at the white house and the democrats have a constant lean. manchion, heidi heitkamp up for re-election in states that president trump won in 2016. the three republican senators, orrin hatch, john thune, pat toomey. the tax reform out of president trump make appearances on the road last couple of weeks, expect that to continue going forward. i'm told he will be traveling on the road to sell tax reform once a week going forward, with
also the likelihood of d.c.-based events phased in as well. that's two. number three, when he hits the road expect him to push the message of unrigging the economy. there was a meeting at the white house last week between the administration and top stakeholders on tax reform and were told, i am told that unrigging the economy is part of the message can you hear going forward. and one person who pulled that issue told me this a big winner not only with independents but lean republicans and lean democrats. number four, stuart, finally here, expect concrete details. i know you've been asking, where are the details with tax reform? you can expect concrete deals with tax reform in coming weeks. they were told within two weeks, and just this morning, stuart, the head of legislative affairs, mark short at an event in washington said a matter of days not weeks.
not a handful. four items for you. stuart: blake burman, we'll take that. the big push for tax reform is on. thanks for bringing it to us quickly. i want to bring in peter kiernan, peter morici, professor of economics to the university of maryland. discuss two points here. number one, political realignment by the president. number two, whether it gets close to the tax cuts. first, political realignment. peter, is that what we're seeing? >> other choices have buried the lead. the move to the center where we pull in democrats and republicans to get something done. if you can get 60 votes with tax reform, you can get longer than ten years, you can get something major accomplished. this is a shrewd move by the president. stuart: if you can't get 60, you can get 50 if you bring in moderate democrats with republicans, you will get 50 of something. >> if you bargain, you can get
reconciliation, everything big as a nation both parties engaged. this is a bold move by the president. stuart: peter morici, political realignment, what say you? >> triangulation, what every president has done since nixon. trump came in with the senate and the house on his side and the senate hasn't been on his side, he's falling to the posture that nixon or reagan or the two bushes had. standing above ideology and saying what works? this is donald trump where he's at his best. there is a potential. you know, there are 25 senatorial seats up for re-election in 2018. in that 25, there's got to be 7 or 8 he can pick off. likely more. now to get real tax reform, he's going to have to do things like border tax adjustments or
something to raise revenue, and that's going to upset conservatives like the koch brothers. who do you think would serve him better going into 2020? accomplishments of chuck schumer or the blessing of the koch brothers. my feeling is this, a masterful stroke, it's the sort of thing that can make him a two-term president. stuart: real fast, peter kiernan with this in mind, the bipartisan approach, is that helping the market and rally today? >> absolutely helping the market. there's a little relief because irma wasn't so horrible though it was horrible and we have 30 something with the failure to launch because kim did not launch. there is a little relaxation. what the market is dying for, looking for, aching for another inducement, another catalyst to make it go and tax reform is that catalyst. stuart: peter morici, last word
to you, is this a plus for the market? >> yes, it's a plus for the market if it really happens. you know the 90-day deal on the budget was great. it's over in 90 days. he has to come up with something. the next thing on the list should be infrastructure after that. two big social win areas. >> peter, thank you very much indeed. i want to talk about, i got to show a chart for you. i don't use charts, i'm not going to use one. ten year chart comparing apple's performance to the old favorite general electric. you remember general electric in the heyday? it was the stock of choice and inspired generation. look that the chart. apple going straight up and ge flatlining. in fact, ge is now worth less than a quarter of apple. whoa. >> wow. stuart: ge was the stock when you were in wall street. >> no question. i have to say the old saying
about general they don't die, they fade away. general electric is fading away, down 25% this year, sxerns 4%. i can't think of a reason somebody would want to own this stock. it has adolescent age, 13, 14 p/e. if you look at what's going on at apple, they are literally -- they have reinvented themselves. the new device the apple x, i understand, which is a pun for those of you for roman numeral on 10. it is the 10th anniversary. but this is two-thirds of the company's revenue. they have totally turned from a computer company to a company that sells two-thirds of revenues from the cell phone devices. we haven't begun to see the innovation that's coming. stuart: it's a fascinating switch where investors put their money? in my day, ge, solid as a rock. before me at&t back in the 70s. >> and ge is lagging. honeywell is beating ge in
terms of stock performance. so is 3m and united technologies. that's a good thing to point out. what is going on with de? >> i wouldn't buy ge, they made an acquisition in the energy space, poorly timed. they have pretty much gotten out of the financial business, i don't know what ge is all about. it's a mishmash, and what i love watching is how apple is turning devices from low cost cell phones to approaching computers in terms of thousand dollar plus price points. quarter tril in cash. stuart: yes. last hour, by the way, we showed you the live reunion between jeff flock and 91-year-old mom in florida. she rode out the storm in her bathtub. we're going to check in with jeff and his mom again and, of course, we'll play you that reunion because it is classic. someone who knows about cleaning up after a storm, a business owner who had to
. stuart: look at this, very revealing. the shots tape by an astronaut. show the massive impact from hurricane irma on the turks and caicos islands in the caribbean. look on the east side of the island, and you can see that the shoreline has actually shifted. am i right there? the east side of the island. you can see that? that's visible from space. that's some impact. >> that's terrible. >> just the turks.
stuart: that's tough out there. talking of tough, we've got with us a business owner who had to rebuild six restaurants on long island after hurricane sandy. now, he owns two houses in florida that he fears they may be completely underwater because of irma. this man is butch, the president of the dover group, he rebuilt six restaurants and businesses after sandy. okay, you've got two houses, feared damage, not for sure. >> there is a curfew, the only way to go is looking at my home. i'm hoping today somebody will give me an idea what's going on. stuart: you're going rebuild? if you find damage, you rebuild? >> of course, these are my homes, i use them, my family use them. stuart: in texas and florida the damage is significant. the money will come from the taxpayer, insurance sources or private money. >> by the time you get the
money from the government or wait for somebody to help you, it's too late. things are further ruined and you lose where you live. stuart: have you taken a giant lose, you have damage in boca and bar harbor. >> one is an apartment, one is a home. if you can get them on the phone, what are they going to pay you for and everything is a hassle. stuart: you don't have flood insurance? >> no, no. >> it's very expensive. >> it doesn't make sense, cover the things attached to the house, like a boiler. for the money you have paid for it, you are better self-insured. stuart: after rebuilding after sandy, why are you going to spend your own money to rebuild after irma? >> these are the places that we live. we enjoyed them for so many years, my family enjoyed it. we can be strong enough to go back and redo and stand on our feet and go back to what we always did. stuart: butch, hang on for a second. i want to turn to peter
kiernan. the money to rebuild texas and florida comes from the taxpayer, insurance companies, private source. i take it most of the money will come from taxpayers? >> a lot from taxpayers, if you look at florida for instance, the initial assessments, up 35 billion in damage, closer to 60 billion in damage. what you see are the insurance companies tayding off the day this happened in harvey are coming back and the insurance companies are coming way back, after sandy the rates came down and down and down and write the insurance costs way back up so the stocks are up. stuart: crazy stuff. i heard of you say that. >> the recent rates for fema, rates are out of control. it could be 6,000 or 7,000 for a house on long island you. >> take a risk building on a zone. >> we were there before sandy came. insurance rates were 400, $500 a year. how you can afford to pay that? stuart: you can't, the risk is
transferred from the government to the home owner. >> absolutely. stuart: that's a right. >> crystal clear. stuart: when are you going to get to florida to see the property? >> as soon as i can. miami is open now, to try and drive down there would be silly. stuart: pleasure having you on the show. i think you're doing the right thing. >> thank you so much. stuart: all right, i want update on the wildfires burning in the west. we've not forgotten this, another disaster. we're not ignoring it, it's just not gotten the play that harvey and irma have gotten. >> a lot of competition. stuart: literally dozens of fires burning, the biggest in montana, crews from as far away as missouri heading to help. two fires in the state a combined burn of 45 square miles. that's a lot of land. nearly a thousand homes, businesses are threatened. key infrastructure, cell phone towers, bridges, all at risk of being destroyed. okay? that's montana for you. much more. guess what?
actors jane fonda lily tomlin in michigan this weekend. they want to raise the state's minimum wage to $12 an hour. they starred together in the famous comedy nine to five with dolly parton. 143 million exposed to a cyberbreach. here's the question, who sees the money from the lawsuits if they are successful? the victims? no! the lawyers, of course. we'll have the judge on that one. last hour, a live reunion between jeff flock and 91-year-old mom in florida. we're going to replay the reunion with jeff. back in a second.
>> you are full of surprises. >> hey! >> sweetie. i heard you say hi. i heard you say i'm not in my underwear. you are not -- i am not in underwear. >> you can show me how you did in there? when you were in the bathtub? >> no. >> you can't show me? >> no, i cleaned it all up. >> you cleaned it all up? >> yeah, i took care of that. >> can we walk in, mom, come on, come on. if you can,un we're on television right now. >> oh, no, for heaven's sakes, when are you going to tell me that. >> i'm telling you right now. so there you go. let's just see the bathtub before we get away here, stuart. i'm glad she's okay. you turned out okay. >> yeah, everything is fine. the bathroom is close to the bedroom which is good. >> you don't have power, right? >> no power at all, and i've got the big light going here.
[ buzzer ] . stuart: i got to report this for you, the tampa bay buccaneers football team, they'll play at home this weekend. they're playing the bears. it's first game in miami, the first game was postponed because of irmamp they'll play at home this weekend. now this, trouble for hillary clinton's legal team. a judge in maryland orders an investigation to three of her
lawyers. they're accused of deleting sensitive e-mails. judge napolitano is next. don't let dust and allergens get between you and life's beautiful moments. switch to flonase allergy relief. flonase outperforms the #1 non-drowsy allergy pill. when we breathe in allergens, our bodies react by overproducing 6 key inflammatory substances that cause our symptoms.
. stuart: the rally holds, 22,100, holds. we're very close to record territory. we hit it. on the other side of the screen, radar shows irma, what's left of it, moving north, no longer a tropical storm. i believe it's now a tropical depression. i think that's the correct expression there. >> yeah. stuart: it's still dumping heavy rain on a couple of states. still a factor in the weather check. s&p 500 did hit a record high earlier, holding there, up four points at 2492. the nasdaq way up there. 6439. you know i never expected this thing to reach 6,000 again, but it did. apple releasing the new iphone today. called the x. 161 on apple. general electric, we've been talking about this all morning, doing nothing, frankly. $23 a share.
general electric has a market cap less than one quarter that of apple. how about amazon, foot traffic up but whole foods unit because maybe the price discounts. ampzon is getting close to a thousand bucks a share, and equifax, more on the massive data breach in a moment. equifax at 113. i want to stay on irma. i'm bringing in our friend patrick senior petroleum analyst with gas buddy. patrick, you are in tallahassee, you are helping, trying to get gas to the -- is it the repair trucks in the linemen, are you trying get gas to them, is that right? >> first of all, authorities need information where to fill up. there is crews coming in from as far away as missouri and the outages here have been significant. just in the last 24 hours, all of florida's major metro areas with the exception of pensacola are looking at 60% of station
gasoline. and 70% of florida doesn't have power. you have a struggle here. stuart: there's the los of gasoline available, it's just getting through the roads, local roads in particular, that's the problem, correct? >> well, really the biggest problem here is the fuel has not been flowing into ports because ports have been closed because of four days and because of harvey, the normal shipments from gulf coast refineries to florida were delayed. so we're talking about real shortages here. now the problem is not so much getting fuel to the station but hopefully there is enough fuel in the tanks at port that can supply motorists and crews until the ports reopen. >> okay, fast question, as far as back to normal for gas supply situation. how long before it is back to normal? >> in florida, it could be over a month before things are back to normal on the colonial
pipeline, a long period of time. stuart: a month? that is news. that is bad news indeed. a month is a very long time for a shortage of gas. patrick, keep going with your efforts. obviously you're needed right there. appreciate you being with us. >> thanks, stuart. stuart: totally different story, equifax facing a couple of dozen lawsuits over that big cyberbreach. andrew napolitano, the judge is with us. hi, i see this going towards a class-action suit, all grouped together, and i know that the normal result of that is the lawyers get the money. >> they get a windfall. stuart: a windfall? they get the money, and the complainants, people like us get a coupon or a couple of bucks? >> i'm as skeptical as you. they were originally tailored for judicial efficiency so the courts don't have to try 140 million cases if everybody sued. they could be tried in a large group. so there's a couple of issues
here, one is there harm? while there may have been a breach, no one may have acted on the breach. two, a violation of contract? yes implied contract of privacy with equifax. you don't give information directly to equifax. equifax gathers information about you from public sources and in return for that information promises not to use it to your detriment. promises not to expose it. they have violated that promise. what is the financial consequence? how can a judge put a numerical figure on that if there's been no harm? stuart: trouble with the lawsuits. >> yeah, the lawsuits are premature, designed to be a windfall for the lawyers. we need to know the nature and extent of harm because they are to redress harm. if there's been no harm, how can you put a dollar figure on it? stuart: peter kiernan, you take a strong position on equifax,
you think they have done badly. >> remember since the breach occurred in july, i give them an f. you see companies like target, with the tylenol scandal, respond to the horrendous, what i think is affliction for the people, and now 143 million. this is not the largest number of -- yahoo! said there was a billion players. when you have a situation like this where social security numbers. the key to the kingdom, have been leaked on 143 million. you have a problem. one of the things this may do in terms of harm is get people in congress ask should we do something to change the fact that social security, the antiquated system is the way you get into your credit? we have to come up with something more digital and modern than social security as a way in. stuart: with all the problems with the lawsuits, they haven't. the stock is at $113 a share, up 15 cents as we speak.
>> incredible. stuart: a judge in maryland ordered investigation into three lawyers who reportedly helped hillary clinton delete her private e-mails. >> okay, remember, this is not a criminal investigation and not a civil lawsuit. it's an ethics investigation. did these three lawyers violate ethical rules by the manner in which they physically handled mrs. clinton's e-mails. the worst that could happen, a public reprimand. stuart: that's it? >> that's it. the government has chosen not to prosecute. jeff sessions, the justice department can investigate, indict and prosecute. stuart: you think that's a good decision? >> to prosecute? stuart: not prosecute. >> no, it's a terrible decision. they should prosecute mrs. clinton and prosecute evidence that destroyed evidence in a criminal investigation. stuart: are you disappointed with jeff sessions thus far? >> yes, even though he's my
friend, i'm going to hear about this, yes, for this and other reasons. >> why do you think he stepped back from pushing the envelope in the other cases, why? . >> it's an constitutional culture in government. we don't want to go after our predecessors because we don't want our successors to come after us. >> okay, that's a good explanation. rational, sane, that's it. one more for you, please. back to irma for a second. there's a real lawlessness we hear in the caribbean. gangs with machetes running riot across some of the islands there. what can be done to restore order? . >> machete is an instrument of death, a police can shoot a person who does not drop a machete on command as long as they're in a position they can harm somebody with a machete. if a looter is breaking into a drugstore that is empty and the looter has no weapons, the police cannot shoot.
they have to chase and catch the person. if they're waving a machete or handgun, the police can use deadly force. stuart: the british are sending troops into st. maarten. >> british virgin islands. stuart: i'm sure you don't approve of that. >> well, i don't disapprove of it. first of all, no american constitution there. there is the nonsense of unwherein thousand-year-old constitution, but if that's the only way they can maintain order down, there i think that's within mrs. may's authority. stuart: under british law, not under american law. peter kiernan, my friend, is with us. [laughter] >> put him on! >> on occasion. >> another friend. [ laughter ] >> what do you make of this? >> this is a tragedy, second tragedy for st. maarten particularly. because the islands depend on reputation, a safe harbor for people who come to stay there. when you have a place like that, it's so beautiful there, but lawlessness and machetes
and people breaking into homes, you can't have it. you can't have it. it will stall the rebuilding, it will stall the recovery, it will stall the ability. stuart: peter, the sun is setting on the british empire. [ laughter ] >> thank you. thank you, judge. [laughter] >> you're welcome. stuart: my eardrum is gone. thank you, judge. back to politics in washington. president trump hosts a bipartisan dinner at the white house tonight. three moderate democrats, and three moderate republicans, trying to talk a consensus on tax cuts. the market likes it. we're up 67 points. 22,123. get this. actors jane fonda and lily tomlin will be in michigan this weekend rallying to raise the state's minimum wage from $8.90 to $12 an hour, remember they starred with dolly parton in "9 to 5."
it's a $20 skinny bundle, includes viacom, discovery, and other networks. no sports but for $20 a month? not bad there. disney, of course, bob iger noted espn struggling and espn, you can see weighing on disney shares, that's been to the down side. at&t, time warner, dish, continue to keep an eye on those things, cable has seen cord cutting. more people cutting the court than actually joining cable and that trend started in 2013. and netflix seeing the shift and they said that disney continues to be a great partner.
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. stuart: it was funny, it was funny, a clip from the 1980 comedy "9 to 5." jane fonda, lily tomlin, dolly parton, team up to get revenge on a horrible boss. they are working together in michigan to support a move for the minimum wage up to $12 an hour. joining us now, salem radio nationally syndicated host larry elder.
you don't even remember 1980, do you? >> actually, i remember 1980. isn't it nice we have these rich hollywood types traveling to michigan and advising employers to jack up the costs so that the labor demand is lower and a bunch of teenagers now don't have jobs. isn't this wonderful? maybe they have more time to watch the movies. stuart: i think it will work against them. i don't think michigan is terrible fond of fonda-tomlin country? >> they are going to speak, that's an overwhelmingly left-wing city. one. relationships the city is doing so badly. milton friedman said it is the most anti-black law on the statute book, a black teenager was slightly more unlikely to be employed than a white teenager. you see cities like detroit,
teen unemployment is over 50%, thank you, jane fonda, thank you, lily tomlin, love to have you coming down there making things worse. stuart: you just want her to get out of southern california where you live. i know you, larry. the important issue of the day is president trump hosting a bipartisan tax dinner tonight at the white house. he's got three moderate republicans, three moderate democrats, going after the democrats, he's moving to the center, he's looking for bipartisan approach on tax cuts. i'm for it, are you? >> absolutely, and why not? we have a tradition of bipartisan tax cuts in this country. the kennedy tax cuts that were so successful that went into effect after he died, bipartisan. reagan's tax cuts, bipartisan. george w. bush got a couple of democrats on board for the second round of tax cuts. there's no reason. obama said our corporate tax rate is too high. the high nest world, when you have obama saying that, it seems there is common ground there, somewhere.
stuart: look, i think of you as a conservative, i'm waiting for conservatives to put aside the principle of its all or nothing, we've got to have 100%, across-the-board, massive great big tax cut. i'm waiting for conservatives to put that on one side and go with what they can get and what they can get votes for. that's what i'm waiting for. >> let's try and be practical. a lot of lefties okay with corporate tax cuts but not personal tax cuts. a disproportion at amount of money are paid by rich people. that's where the battle will be. there's no reason we can't get bipartisan support. i'm with you. stuart: on the left-hand side of the screen, that is president trump welcoming the prime minister of malaysia, on a visit to washington, d.c., just arrived at the white house. you may get some statement from the president when they hold that little press briefing after the talks.
you may get something out of. that larry, i want to talk to but senator bernie sanders. he's about to unveil -- stop laughing. >> do we have to? stuart: we do. this is the opportunity to say what you think. medicare for all. that's the bill that he's about to present. now i say that is never, ever gonna happen. if that is the democrat's platform, they lose. am i offbase on that one? what do you think, larry? >> unfortunately, i think you are. i wish it were the case we would never seriously consider single payer. but that's where we are going. senator obama said if i were starting from scratch, i would do single payer. harry reid once said that's the goal. howard dean, the former chair of the dnc said that's the go. that's the goal, and unfortunately much of the country is behind. this they really believe that health care is a right that insurance companies are really mean to you if they turn you down, if you have a preexisting illness, that's where the country is.
i wish i could say the country would like to get rid of obamacare and replace it with free markets. that's not where the country is. stuart: many americans are going down the european road, a disastrous road, that's where we're going. larry, thank you for joining us today. much obliged to you. peter kiernan, not that you just can't afford socialized medicine in the united states. the money isn't there. what really bothers me is the idea we're going to be more and more like europe. >> i don't see that is a particular model, no disrespect that we should follow. it can be breached. this trend, that seems to be irrefute able can be breached and the republicans had a chance to do so. you have to come up with workable alternative solution. >> that's why i'm embracing of the radical centrism that we're seeing the president exhibit right now. trying to find people from both sides of the aisle. that's how can you get
extraordinary things accomplished. that is still the recipe in my mind for the right health care outcome, and once he gets taxes and infrastructure, i think he should return to health care with the bicameral approach. stuart: yet again, kiernan is 100% right. >> want to come back? stuart: he could anchor, that's for damn sure. i got video for you, the "u.s.s. abraham lincoln." that is an aircraft carrier, a helicopter on the carrier, help fema teams with search-and-rescue operations, that is one big ship with a lot of resources on board. we have an update on the power problems in florida. going to take a while to get the lights back on, they're working on it. the markets rallying, thank you very much. 65 points higher. 22,123. we'll be back. you know who likes to be
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downgraded to a tropical storm. there are currently no coastal watches or warnings in effect from that storm. it's about 400 miles northeast of grand turks. about 700 miles northwest of san juan. jose is the fourth threatening hurricane to form over the atlantic in the past couple of weeks. looks like we'll dodge it. update on the power situation in florida. florida power and light told this program it expects to restore power to all customers on the gulf shore, the western part of the state, wait for, it september 22nd. ten days from today. the eastern part of will restored by the end of this weekend. on the phone now, florida congressman francis rooney whose district includes naples, ft. myers, the cape corp. area. congressman, that is really bad news if you have to wait until september 22nd to get the juice back in your neighborhood. that's not the news you wanted to hear, is it? >> certainly not.
as hot and humid as it is with the snakes and critters, we need the power. stuart: you're going to have a problem with mold as well if you have another ten days with no juice? >> absolutely. i'm hopeful they are only speaking of the worst-case scenarios inundated with water and can't get to them. the areas as they try up, they're put back on the grid. stuart: other than that, i'm going to say you dodged a bullet, because that storm surge didn't manifest itself with flooding inland, did it? >> no, fortunately, the silver lining is that the storm moves over land after it crossed marco island and we did not get the 15-foot wall of water that would have been unconscionable, impossible to believe the damage it would have done. but we have plenty of devastation and flooding. i was driving with the mayor of bonita springs, pete simmons and fire chief through the streets of bonita bay boulevard, now, a lot of people
are going to lose their house. stuart: i regret to tell you, congressman, i have a house in naples, so does my daughter. we're taking this bad news in stride. >> where are you? you're a constituent! where are you? >> yes, i am. why do you think you're on the show. >> bret baier is too, bret baier's brother-in-law and father-in-law are all good friends. stuart: we're pulling for you, congressman, we're pulling for our property and self interests. sor beat bad news about restoring the juice. thank you, congressman. >> thanks for having me on. stuart: sure thing. more varney for you after this. parodontax, the toothpaste that helps prevent bleeding gums. if you spit blood when you brush or floss you may have gum problems
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for my colleague, neil cavuto, who will begin in about 15 seconds' time. neil, you get all the big interviews, yes, you do. you're real good at it, but we got jeff flock's mom reunited with her son on live tv. neil: yes, you did. stuart: that, sir, is a winner. neil: that was precious. apparently, a big lou dobbs! fan. [laughter] stuart: don't go there, neil. neil: i really got a kick out of that. and i got a kick of what is happening to you on this whole tax cut thing. and i know you figure something is better than nothing, and i just heard you with our mutual friend, larry elder, and he talked about the need for bipartisanship and that's what you had with jfk, ronald reagan, even bush to a limited degree with his tax cuts. all of those guys had everyone's taxes cut. and i'm thinking i know since you became an american citizen, maybe you're thinking of what's the temperature rate in britain? 45% -- the top rate in britain, 45%, and it kicks in at