tv Y World With Neil Cavuto FOX News January 2, 2014 1:00pm-2:01pm PST
namath would lead the jets to the championship and then inked aing mega deal with dan green. >> two fierce storms bearing down, one is bringing blizzard can like conditions and the ice threatening to put a big chill on the economy and wall street. and while this storm's expect it to blow over in a few days, this one could go on for years. i'm in for neil cavuto. this is "your world." stocks taking a big hit on the first trading day of the year as obamacare kicks in, along with a slew of new taxes and new tax worries, just as the economy is showing signs of life, and we are all over it.
sandra smith more on the potential pitfalls, ben ben willis on the stock exchange, and charles payne on the big push underway in new york city to tax the rich. and dr. ron paul on the healthcare storm that is brewing. sandra, big drop today? >> big drop today. leading to a lot of questions about whether or not that big rally in 2013 will continue. wall street analysts got it wrong, leading to investors to dismiss out on thal -- to miss out on the rally so wall street anists are bullish, calling on average for a 6% gain in the new year. one big reason is corporate profits on average are expected to surge 11%. that would top the 6% gain last year. now, while many wall street analysts are painting a very rosy forecast for 2014, they don't do this without
identifying potential pit falls. one of those, notably is janet yellen. there's a lot of uncertainty about the fed. that plays into the picture. also got jobless claims numbers out today that did show a dip over the latest week, christmas week. but we still have unemployment rates hovering around 7%. that's a big uncertainty in the new year. but a lot of these analysts, their big pitfalls is, did the stock market enter into a bubble scenario? and identified the federal reserve tapering. will this exit from the stimulus program? will that be messy? and ceos will by they defensive and hold on to what is nearly a record amount of cash because of the uncertainties facing investors and companies. and washington, the biggest
uncertainty of all. taxes, obamacare, going to play one of the biggest parts in whether or not this rally continues. >> sandra, we hear you. thank you very much. so goes january. so goes the year, or that barometer has been right nearly 90% of the time, since 1950. so, if today's selloff troubling? to stock trader ben willis who says the market needs a breather. ben, 2013, fantastic. first day of 2014, big selloff. what's the problem today? >> well, i think what we witnessed was a buyers' strike. most traders were lined up expecting the buyers to be here, putting new money to work into the market. money set aside from bonuses and the like that usually get put in lump sum on the first day of the year. no reason to panic. going back just 30 days ago you saw the same thing happen in december. traditionally the first day of the month we see a bit in the
market. and today was dismal. not a classic bull-bear fight where the bears won. down 130 points on the dow jones, we saw a lack of buying power. we just closed over 600 million shares on the closing volume for the new york stock exchange. that's not a good day so not a good indicator of really the temper empty of the market. the market needs to have some sort of reprieve. it's not healthy for a market to run the way it has in the last, quite frankly, five years. last year we did not have a correction of more than 5%. we need to have one. i don't think today is the beginning of it. >> i can see a reason to selled to. if i own a couple of stocks that went straight up last year, if i sell them today, and take the profit, i've got well over a year before i've got to pay the tax on that profit. so, today was a pretty good day to sell if you made a lot of money last year. >> a very good day to sell,
especially if you need to pay for the profits you may have taken throughout the year coming up on april 14th. and there seems to have -- some traders i talked to high net work individuals, believed what they were saying was taxed based selling to raise capital to sell taxes. so not an indicator of long-term thinking but was a surprise. i was on fox business last week, suggesting that we thought the first week of this year, we would see tremendous in-flows into the market. and when that was over we may see that correction. so, today literally with a buyers' strike, very surprising to see that. >> thank you very much. let's go to new york city now where it's not just the threat of snow that is a worry. this is, too. >> when i said i would take dead aim at the tale of two cities, i meant it. [applause]
>> those in between 500,000 and a million dollars a year, would see their taxes increase by an average of $973 a year. that is less than three bucks a day. about the cost of a small soy latte at your local starbucks. we do not ask more of the wealthy to punish success. we do it to create more success stories. >> my. well, is this new tax push going to help or hurt the situation in new york city? charles payne thinks it will have a chilling effect on the economy. richard fowler disagrees. charles, do you think these tax measures that bill deblasio -- do you think he will elevate the position of poor people in new york city? >> absolutely not. it's interesting. he wents out of his way, me thinketh how to -- thou protest
too much. this is his rhetoric and the tale of two cities. maybe it was the best of times but it's not the worst of times. what i hate about this ideology is people who are doing well, -- if have a buddy, in construction, made over 100 grand last year. best year of his life, and normally he should feel good about himself. takens care of his family, they go on vacations, but when he looks at what other people are feels bad. that has nothing to do with an economic system. that is pure envy. and with the bill deblasio wants to do is actually fan those names into something extraordinarily dangerous. >> richard, where is charles wrong? >> i don't think we're asking for millionaires to billionaires to feel bad. about themselves. >> people who aren't millionaires and billionaires who are -- other people are making six figures -- even those. >> we are asking them to pay
their fair share in tacks no reason that a minimum wage wal-mart worker or taco bell worker or mcdonald worker plays 33 or 34 percent in taxess' something making quarter millions dollar a year paces 12 to 13%. >> what you're saying now is so off the wall. -- it's not. >> paid a lot more than anyone work at kentucky fried check. >> this is not an economic policy. i don't care what you tell me. take all the money from forbes 100, it bill not change the position of a person watching the show today, won't make that person without job skills richer -- >> makes our economy better. >> how? >> when 70% of economic growth is based on consumer spending and we know the fact to be true that those who have less disposable income spend mow paying for rent, food, toilet
paper, more money going into our economy. what doesn't work is this trickle down economics or this whole idea if you cut tacks for millionaires and billionaires, it's going to trickle down and all of a sudden poor people won't be poor. >> richard, in his inaugural address the mayor said he is going to raise the tacks making half million to a million dollars a year on average by 973 tuesday a year. that's the average. >> pennies to them. >> wait a second. he says he will use that money to provide universal prekindergarten, preschool care, universal. do you think that is enough to pay for universal preschool in new york city? >> i'm not looking at the books and not in the mayor's finance office. what the mayor is trying to say here if we can take -- these who make a little more can give a little more and we can educate our young people and create on america -- the mesh dream that works for generations and generations to come. what we can't do is rob our children and close schools and get rid of early education and
expect the american dream to continue. that's what you can't do. >> it's a good debate and we hear it. i'm sure this will go on for a long time to come. thank you. the healthcare law officially kicking in, but the numbers still not adding up. that's because more than 6 million people have lost their healthcare plans, compared to just over two million that have actually been able to enroll in obamacare. dr. ron paul says this is what you get when the government gets involved. dr. paul, welcome back to the program good to see you again, sir. >> thank you, stuart. good to be with you. >> does this obama car fiasco spell the end of activist government? >> i wish. but, no, there's a lot of die-hards out there. there will be excuses made and politicians will spin it put it will end because it's a disaster. this is a sign that the delivery of healthcare will even be worse than signing up for the
healthcare. so, it's a tax in many ways because the insurance policies are going up. but the big thing they never talk about is, the government is supposed to be involved in contracts and having policy. one is to guarantee the policy, and you can't cancel it. here the government gets involved and all of a sudden insurance companies can cancel you willy-nilly. they thought they would get a big deal because they would get more customer, then they had mandates and had to put certain things on and it's skyrocketing. the cost of medical care, when it's all added up, is going to be huge. it's going to be like a tax and the quality of care and what people are going to get-everybody tells me, they're canceling me, charging me more, i'm getting less, and they're furious. the biggest political issue this year. >> we can't get rid of it in the near term. cannot be reversed for some time to come. the question is, is it so
entrenched that you really cannot repeal it totally and get rid of it completely? >> you're not going to get rid of it. you're right. they're going to limp along. if republicans live in a fall they may tinker with and it change it, but the only way it's going to disappear quickly is if it's totally self-destructs which is conceivable, everybody quits because they're get nothing where and just opt out. today, if -- even if you're of modest income, if you go to a doctor and say, all i want to do is pay you cash, and give me some services, believe me, it's very, very cheap. the one problem is it that if they do it, they might be break something federal law. if they're dealing with the government in any way and they -- member comes in and says, this $500 procedure, costs that much, i'll do it for $100, the doctor can get in trouble with that and be penalized and convicted of a crime. one day it's going to be so bad
that people are just going to opt out on their own. what we need to do is change the congress and allow people to get out of this monstrosity. >> do you think there's a direct relationship between new tacks on healthcare premiums and the spike on insurance itself and the spike in premiums that we're seeing? there is a relationship between the two? >> i think so. and i think the insurance companies had a quid pro quo they could raise fee. it's a tax whether the insurance company raises fees or there's a tax from the government. it's all a tax, and if you talk about inflation, as medical care is a significant percentage of our cost of living, and it's going to go up hugely. so we have inflationary costs and quality going down and people angry, and all we need to do is the right to opt out and have a little -- >> all of the above. thank you, ron paul.
sorry i'm out of time. love to talk to you all day on this one. bundle up because this monster storm is barreling down, 90 million people in its path. we'll tell you why it's taking up the entire nation next. [ malr ...you'd expect us to have a highly skilled call center. kevin, neill holley's on line one. ok, great. [ male announcer ] and we do. it's how edward jones makes sense of investing. [ male announcer ] and we do.
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such as feve fatigue, cough, or sores. you should not start humira if you have any kind of infection. make the most of every moment. ask your dermatologist about humira, today. clearer skin is possible. [ male announr ] this is the story of the lile room over the pizza place at 315 cnut street. the modest first floor bedroom in talln, tonia and the dusty basement at 1406 35th street. it is the story of the old dining room table at 25th and hoffman avenue. the southbound bus barreling down i-95. ...and the second floor above the strip mall at roble and el camino. ♪ this magic moment it is the story of where every gre idea begins. ♪ so different and so new where those with endless vision and an equal amount oaudaciousness believed they had the power to do more. time and time again. ♪ and then, it happene at dell, we're honored to be part of some of the world's great stories. stories that began much the same way ours did.
in a lite dorm room -- # 2713. ♪ this magic moment ♪ heavy snow, gusty winds, cars spinning out. utility crews prepping for lights out, and nasty winter storm whacks the midwest and the east coast, and the worst is yet to come. janice dean is in the fox weather center. give us an idea how severe the storm and is how widespread the impact. >> the impact is going to hit millions of people. we have over two dozen states under winter weather advisories and it's two storms coming together as one nor'easter. so low pressure across the gulf coast, one across the ohio river valley. they're going to merge or phase and bring us this nor'easter, and we have new information,
blizzard warnings up from long island to coastal maine, so maybe you're not getting the jackpot of storm totals in terms of snow, winds gusting over 50 miles-per-hour will make travel impossible. it's going to cripple travel overnight tonight and into tomorrow. so, as we look ahead, friday morning's commute will be very, very hard across the i-95 corridor it's out of here by the afternoon but we're still left with blustier conditions. so winter weather advise riz and in red is where we have our blizzard warnings, including long island, maine,, people are urged to stay inside. a snow day for kids in boston north, but the temperatures are going to be so frigid people need to be staying indoors. this is forecast wind chill as we go through the evening, it's going to drop considerably below
zero for all of these big cities, by 10:00 a.m. friday, talking about below zero wind chills, for new york, boston, albany, bangor, maine. >> ouch. i'm looking at the minus signs there. that hurts. thank you very much, janice. >> let's go to massachusetts now where the governor is calling up the national guard. i saw a moment ago jogging in place to keep warm, molly. you were, weren't you? >> exactly. absolutely. the temperature really is dropping. we can feel it's getting colder and colder. my mouth is frozen. this is the evening commute. inching long here. this is just the beginning of the evening commute. it could take people very long time to get home today. the roads are little nasty out there but mostly a pile of traffic. the first day back for a lot of people. we watched the traffic coming in this morning and i'm thinking, this is going to be brutal tonight. temperatures are expected to drop. wind chills, according to the governor, could be negative 25.
in some places across the state. very dangerous situation here. also note, the logan airport here in boston says at 8:30 tonight, the airlines have closed off their flights and are hoping to get things cleaned up and back on track by noon tomorrow. but could be a slow cleanup out there. >> ouch again. old man winter's arctic blast wreaking havoc for travelers on the east coast and also the west. william is in lax in los angeles. what's guess on there? >> reporter: 2,000-miles away but travelers are not immune from the storm. nationwide basically you're looking at airlines here and around the country have and continue to cancel flights into me midwest and northeast nationwide. the figures are this. 1800 flights cancelled today. 5,000 delayed. going up hundred flights every hour. the worst hit airports, chicago, newark, cleveland. half the flights cancelled or
delayed. 600 flights cancelled for tomorrow. the bottom line is this. if you're traveling anywhere in the next 24 hours, contact the airline. you could be half a world away and still be grounded. back to you. >> we hear you. thank you. heat your home? this monster stormes walloping you no matter where you live. >> first, obamacare. plenty of people fed up with it. was it all just a setup?
single pair system -- single payer system could make sense. >> a heavy lift. i would have preferred sicking payer or public option. >> obamacare is a step in the right direction but far from something that will work. >> people will work beyond insurance. >> absolutely, yes. >> i'm all for a singling payer system. >> i happen to be a proponent of single payer. >> we cannot get to university heck -- universal healthcare, which i believe is a core democratic value and imperative for our country. >> guy benson says this is why obamacare was desigield, and richard says if the democrats wanted a subject payer system that we have created one. guy, single payer, similar to the uk or canada. you think this was the goal all along? >> just listen to the word that you just played. one prominent democrat after
another explaining in sort of just in black and white, this is what we want. a singing payer system. there are some conservatives who believe that obamacare was designed to implode the way it currently is in order to usher in a single-payer era. >> too you believe that? >> i don't think -- >> guy? >> i don't. they have really squandered by then meaning democrats -- squandered their credibility by saying we'll do this massive overhaul of the healthcare system, it's going to do these four great things and it has failed on virtually every one of the promises and betrayed millions of people. so i think the goal for obamacare was to over time transition the pock to be a little bit more conditioned to increased government intervention in healthcare and then shepherd us into single payer, not to explode on the launch pad. >> richard, a lot of people suggest this -- the difficulties
of obamacare, the near collapse of obamacare, is an excuse for the left to push for a single payer system. they will use this as an opportunity to go much further than obamacare. you see it coming like that? >> well, your reference to a collapse of obamacare, don't tell that to the millions of seniors who have saved bills -- >> get beyond this. >> you can't make an assertion and then refuse to let me refute it. the seniors are saving billions. the millions of young documents who are on their parents' program. the people who don't have to worry about being imponchished by an illness or hospitalization. those people don't see any kind of collapse of anything -- >> okay. the difficulties of obamacare -- do you think that the left will use the difficulties, which i think you will admit to, of obamacare, as an excuse to go much further towards singing payer system? do you think that will happen? >> i will admit the rollout of
the web site was a problem. i will not at mitt we know -- this program was just implemented yesterday, stuart. this notion that you -- words like collapse? come on. >> answer the question. are we moving towards a single payer system? are we going in that direction? what do you think, richard? >> remember that famous sign in tea party rallies, tell the government to take its hands off my medicare. that was something you might have found in south park. medicare is the government program and yet the tea party people were embracing that as hard as they could. so you're talking about single payer as being this -- antithetical to the u.s. system. and somebody that nobody left or right is trying to break up is medicare or the va system, which is what single payer is. >> sounds to me like the answer from you is yes. >> i'm not saying that -- no. we're not going there. the reason we're going where
obamacare is taking us is because it was predicated on what the heritage foundation laid it and what mitt romney implemented as governor, which is working in the state of massachusetts, and the assumption was it will work there, it will work nationally. we'll see. it's slightly early since we're a day into this to make a judgment one way or the other. certainly there was reason to think that obamacare's model had ample precedents. >> guy in? >> into much to refute there on the point of obamacare, this isn't just about a botched rollout. this is about central promises. if you like your plan and doctor you can keep them. lower premiums, decreased healthcare spendingle. none of those things are coming true. that's not something that just happened today and let's wait and see. that is being felt be millions of americans already. if we want to get a sense how this law is faring, fewer americans are insured today than they were last year, because of this law. that is a failure.
so, i mean, that is obamacare. it's a separate issue from the single payer transition. i just think it's going to be difficult for lefties to come to the american people and say, never mind, just kidding, what we really need is to give the government even more control over our healthcare system. this being the same federal government that had a billion dollars and, what, three and a half years to build a functioning web site, and could not do so. by all means let's give them more control over our healthcare. >> guy, richard, out of time. we appreciate the debate. >> thank you, stuart. >> this monster storm, zeroing in on the northeast, but people nationwide are about to get hit in the wallets. ♪
[ male announr ] this is the story of the lile room over the pizza place at 315 cnut street. the modest first floor bedroom in talln, tonia and the dusty basement at 1406 35th street. it is the story of the old dining room table at 25th and hoffman avenue. the southbound bus barreling down i-95. ...and the second floor above the strip mall at roble and el camino. ♪ this magic moment it is the story of where every gre idea begins. ♪ so different and so new where those with endless vision and an equal amount oaudaciousness believed they had the power to do more. time and time again. ♪ and then, it happene at dell, we're honored to be part of some of the world's great stories. stories that began much the same way ours did.
in winnipeg, canada, an hour and a half north of north dakota this wind chill feels almost as cold as the surface of mars. here in the lower 48, not much better. people from the midwest and northeast dealing with subzero wind chills and the worst is yet to come. garrett is outside in chilly chicago. garrett, you have not been dancing around. i can see you. you're not dancing like molly but you have very rosy cheeks. how cold is it? >> i could never win a danceoff with medically. right now it's about four degrees with the wind chill overnight. it's going to get down into the teens with that wind chill. and it's not expected to get any
better. many of the areas all along lake michigan had a foot of snow already after three straight days of snow. now they're expected to get an additional eight to ten inches in many areas due to the lake-effect snow. that's what you're seeing come down right now. you can barely see downtown chicago. it's expected to continue to fall tonight. tomorrow will clear up, pick up again over the weekend. in chicago, the city's entire fleet of 300 salt trucks and snowploughs has been on the road nonstop since tuesday. they willle stay on -- they will stay on the roads tonight keep the roads clear. officials asked people, if they're able to stay home to do so. this wind has been brutal all day. winds from 15 to 25 miles-per-hour overnight, going to be picking up. monday, negative eight. the high temperature, stuart.
negative eight degrees. i. >> we hear you. thank you very much. good luck to you, young man. >> thank you. >> the worst of the weather is in the northeast right now, but no matter where you live, your wallet is about to get walloped because the winter is heating up the cost of natural gas. how bad? >> pretty bad. this started last year. natural gas actually was the pest performing commodity of the year because of the last few months of the year, we saw 26% increase in prices and we're carrying right into 2014 with those prices rallying. with these temperatures going subzero next week we'll sea continued drawdown in supply and rising prices for consumers. >> i switched to natural gas from oil, thinking that the fracking bonanza would give a but there good-glut -- a glut of
prices. why did this not stabilize prices? >> we haven't seen that spill over to consumers yet. it's amazing we haven't seen prices stabilize. we're actually seeing significant increases. we're expecting another drawdown to come out tomorrow of 135 billion cubic feet so this situation could get worse, and that's only through december 27th so we'll get inventer to reports and they'll be even higher. >> too simplistic to say -- just looking at the graphic -- if my natural gas bill was $100, that in future it's $140 because of the price increase we have already seen in that gas? >> it certainly depends on where you are and how accessible the gas is to your home. you're going to see 20%, 30% higher increase in bills, and consumers will start getting the bill us right away in january. >> the midwest and the northeast, where the subzeros
are worst, that's where it's going to be worse price increases on my bill. is that correct? >> that's right. half of the homes in america now heat their homes and businesses with natural gas so a considerable number of people will have higher rates. >> great to talk to you. good luck. your new year's hangover? that may be gone. but the healthcare headaches remains. while small business owners are already sick of 2014. [ female announcer hands were made for playing.
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joe, you're part of this group. you have seen higher costs for your small business? >> yes, i have, as a matter of fact. we just received our renewal notices the other day. our premiums are increasing from 13 to 25% this coming year. which is making it more difficult for me to continue to provide insurance for my employees, something i voluntarily have done for the past 25 years. >> are you actually thinking of not providing insurance or pushing them out the door? getting coverage in some other way? >> that is part of the complexity of the law we're looking into. that's one over the options, we give our employees an amount to purchase insurance on their own. it's just so complex, and the time of the business owner that i've wasted and had to spend on analyzing the different plans and how they'll affect my business is one of the major problems with the law.
it's created a boondoggle for maybe businesses. >> i'm intrigued at this survey you have done. not a single respondent said the price, costs, premiums have again down in price. not a seen that before. not a single respondent. >> that's right, stuart. and keep in mind the cost of health insurance for small business owners has been rising steadily for 30 years. and now it's getting worse. we're really in a time of insult to injury. we heard from business owners every day who say i can't afford it for myself. i don't know if i can afford it for my blowees, joe's story is like what we are hearing every day and it's tragic. >> what joe is saying that he is seeing increases of well into the double digits here. is that what other members reported in your survey, jean? >> absolutely. i would say 20% increase is the minimum we ev of. we hear plenty that are
doubling. >> tell be empty deductibles. that's another huge increase issue. >> the self-employed like to have try to get a catastrophic or high deductible plan because it's more affordable, and now their tee ductibles are going way up and so everything is more expensive. the premiums premium deductible. >> joe, request -- joe, you run a printing business. are you going to hire more people? >> right now we're carefully watching who we're hiring. we're actually depending on how the government calculates it, we're right around the 50 employee mark. another provision of the law that is difficult north just the sheer number of employees. i have to track hour by hour the cumulative amount that my employees work in total to make sure i don't go over the 50 mark yet because i want to see the full ramifications of the law down the line.
>> there's nothing you can do, is there? the obamacare law is up, running, not going to be repealed anytime soon. you have to live with it, joe. >> that's the concern. in the past at least i had flexibility. i was able to pick plan that worked for the demographics of our company and our employees. this is just further limited our ability to provide a benefit for our employees, and we may not be able to provide it going forward, and that's my real concern. >> jean, what is your group doing about this? >> well, right now we're actually actively trying to collect these stories so we can show members of congress and the administration how dire the situation is. i am encouraging everybody to tell their story and we can shine light on this and show it's got to change. something needs to be done. >> not a going to change anytime soon, jean? >> we'd like too find some relief. >> would you favor a one--year
delay in the individual mandate, for example? >> you know, i think that would be okay, but really, a delay is not -- we need permanent solutions. business owners need to know what to count on and what the future, and be able to plan. changes and fixes and relief, we really want them to be permanent. >> okay. joe olivo, jean kearn, thank you for joining us. >> thank you. >> instead of spending cuts, what is congress planning in the new year? and forget dancing. rob's running again. ♪ let's get together and feel all right. ♪ >> who do i speak to about the code of conduct. >> with respect to the code of
conduct. >> mayor ford, please stop this. [ male announcer ] this m has an accomplished research and analytical group at his disposal. ♪ but even more pressive is how he puts it to work for his clients. ♪ morning. morning. thanks for meeting so early. oh, it's not a big deal at all. come on in. [ male announcer ] it's how edward jones makes sense of investing. ♪ . ch. hi, i'm terry and i have diabetic nerve pain.
[ male announcer ] it's known that diabetes damages nerves. lyrica is fda approved to treat diabetic nerve pain. lyrica is not for everyone. it may cause serious allergic reactions or suicidal thoughts or actions. tell your doctor right away if you have these, new or worsening depression, or unusual changes in mood or behavior. or swelling, trouble breathing, rash, hives, blisters, changes in eyesight including blurry vision, muscle pain with fever, tired feeling, or skin sores from diabetes. common side effects are dizziness, sleepiness, weight gain and swelling of hands, legs and feet. don't drink alcohol while taking lyrica. don't drive or use machinery until you know how lyrica affects you. those who have had a drug or alcohol problem may be more likely to misuse lyrica. ask your doctor about lyrica today. it's specific treatment for diabetic nerve pain.
nor am i an addict. take it off my property. thank you. thank you very much. get off my property. thank you. >> have i tried it? probably in one of my drunken stupers about a year ago. >> the past not getting in the way of toronto's mayor rob ford re-election bid. he files the papers today calling ford more years.
h >> my record speaks for itself. >> only time will tell. . take a look at this. when time magazine says keeping your doctor under obamacare is no easy feat you know it's bad. why can't i keep my doctor? >> thank you for having me stewart. really obamacare has put insurance companies, doctors and patients and hospitals in an situation. when they are requiring more patients to have expensive unnecessary benefits with more regulations and strings tide to it, owner regulation, taxes and less money, you can't have your doctor and can't have you're hospital and can't have your health plan. what's happened if you look at california for example, out in california under the new
individual plans that the insurances had to create for obamacare, they came to the doctors and they came to the hospitals and said if you want to participate you're going to have to anticipate 30% less. we're already working our tails off for less. we can't work for 30% less. as a result up to 60% of doctors are participating. that means 40% are not in the plans. 25 to 30% of hospitals aren't even in these plans. >> is this changing the relationship between doctor and patient? >> it absolutely is. this sacred patient doctor relationship is no longer. the government is coming in and telling insurance companies what to do. we are really just -- i think they consider the patients and doctor the inconvenient ann
annoyan annoyance. these patients that had individual plans they liked were deemed not good enough. they lost their plan. they had to resign up for plans that are more expensive. they don't have access to doctors. some patients will have to drive 100 miles to the nearest hospital to them. the doctors and the hospitals that they are able to go to are often not the best. for example, in california, cedar sinai is not part of the individual plans as are none of the la teaching hospitals. >> if do you think there's a two tier with the best go to this group of people and everything else gets everybody else? >> looks like a recipe for disaster where you're now having to pay great amounts of money to go to a place where the government has struck a deal for you to go while everyone else that can afford to can go to
better hospitals. it's stifling research, invasion, and patients getting the best care. it's quite concerning. what's really concerning is doctors, often times we don't know if we're on the plan. i had to have my office manager log in to before christmas and see if i was on the plan. i'm not going to be able to cooperate and comply with the strings that i will have to by october 2014, yet i'm listed. i feel this is only deceptive to my patients that a might be signing up. >> doctor, i wish i had more time. you're telling the story from the inside. i'm out of time. come and see us again soon please. we appreciate you. >> thank you for having me. >> doctor, thanks. we're forcing ourselves to spend less and maybe weigh less this time of year, what's congress set to do? hold on a second. we'll tell you. (horn, ding, ding)
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. a $1 trillion spending bill is what congress is set to unveil to avoid the shutdown mid month. republican congressman in south carolina says it's time to make that the priority. he's on the phone now. congressman, if we're get going to get the debt under control, we've got to reform entitleme s entitlements. do you see possibility in the near future? >> good news is when you talk privately to many leading democrats, they are interested in reforming the entitlement programs. they understand the risk debt poses to the country. that's the good news. difficult news is democratic leadership and white house do not have that agenda on their mind. >> do you see real possibility, a tax reform? you've been in the closed door meetings. any chance of real tax reform? >> it's the one place we
probably have a chance to continue the conversations with the president. there's a little common ground available. the difficulty is getting the political capital to do a deal on the tax reform. i think highly unlikely it gets finished this year. >> what do you think is the result of these discussions? are we going to spend a lot more machin money? >> sure. there's not enough for republican or democrat support for lower levels of intending. debt and spending goes up, and the cycle continues. >> no real progress here? the debt is going to keep on mounting. that's the bottom line today. >> the good news is the yield on tin year treasury is down. bad news is deficit gets worse. >> we hear i don't. thanks for joining us, sir. appreciate it. >> happy new year. scott walker is my guest on
fox business tomorrow morning. he's taken on the unions and won. beat back a recall challenge. does he have the winning formula for republicans in 2014? the scott walker money message tomorrow. right now it's "the five." >> it's so funny. it's a rash and going away. hello i'm greg, along with kim her by, bob and dana perino. this is of course "the five." surprise surprise the poll shows we have no faith in government. one in 20 says the the government is okay. that person is in scientific terms a moron. he may be hosting at msnbc. cheap shot. stockton, cleveland, baltimore, on is and