tv Varney Company FOX Business January 29, 2013 9:20am-11:00am EST
♪ >> "imus in the morning." stuart: congress di congress din spending a ton of money running up the debt. good morning, everyone. $60 billion worth of storm relief spending has sailed through. the president will sign it as soon as it hit the desk. the spending is not offset by cuts, therefore it adds to the
death. worse yet, storm relief wipes out a big chunk of the extra revenue from taxing the rich. that should bring in $80 billion cut was supposed to reduce the deficit, it will not. much of it goes right out the door all over again. we can all debate the wisdom and necessity of massive emergency spending for just charging it to the national credit card shows we are not really serious about controlling our death. 16.5 trillion now, 17 trillion by the falcons would have doubled in the eight years in office. lieve your financial advisor should focus on your long-term goals, not their short-term agenda. [ male announcer ] join the nearly 7 million investors who think like you do. face time and think time make a difference. at edward jones, is how we make sense of investing.
and have a virtual keyboard. also will have a brand-new operating system. so far the device is getting good reviews. gizmodo says it is hotter and more elegant than the iphone 5. more details on this new device but the verdict on the phone means a rebound or a very sharp decline for the company and its stock. remember is lost 1 million blackberry subscribers in one recent quarter. 13 weeks alone. nicole, rim down yesterday, what is it looking like now? nicole: slightly lower this morning but you are so right, this is a do-or-die moment for research in motion. the company, the shareholders, while apple cannot product after product, research in motion has all their eggs in one basket. stuart: the smartphone marke smt is the most important market for any device around today.
this is a new entrants in it. i have to run, thank you very much indeed. rim up 36%. we have talked a lot about phil mickelson says he spoke out about the high tax rate he pays in california and now tiger woods backed him. in our next hour, guess how much money in taxes would save from moving from california to florida just before he went pro. we will have your answer for you at the top of the hour. how much did he say? a lot. now watch this. >> the spirit of gun control, will you put it on your security team? >> i will get back to you. stuart: frequent "varney & co." guest confronting mayor bloomberg on gun control. much more to that video and you will have it right before your very eyes when jason joins us at 10:15 this morning.
most working women have two jobs when men have only one. talking about work and home. we will get into that after the opening bell for you. plus, we're on "dow watch." good news on housing so watch out for the opening bell. ford, rim, apple, yahoo earning profits or otherwise. back in a moment. [ male announcer ] at his current pace, bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfolio. and with some planning and effort, hopefully bob can retire at a more appropriate age.
♪ stuart: here is the good news on housing. a 5.5% gain in prices over the past one year. housing is a bright spot in the economy. we do believe it is. a 5.5% gain in home prices is not great, but it is a far cry from the down days of the housing crash. stock market, well, we are 280 points away from the all-time high on the dow. a big name that you know. more money coming in at yahoo!. nicole: this is a company that has struggled. now you have marissa mayer taking over.
the stock is up over 1.5%. they continue to talk about that. search advertising was strong. display ads were weaker. it is up about 30% since she took over. stuart: 30% and a $20 stock is not back. i want to move onto ford. $5.6 billion profit last year. the stock is at 13. please, remember that stock was one dollar a share not that long ago. apple announcing a higher capacity for its next generation ipad. earnings for the company may be a little high. let's go back to nicole petallides.
nicole: there were questions about whether lenovo was interested in any parts. it is all do or die. the blackberry ten is out tomorrow. we have seen stocks soaring ahead of this. the whole world is waiting on this one. stuart: i think so. it is do or die. thank you very much. this in the relief package adds to the debt. just passed a $50 billion relief package. much of the controversial spending removed. president obama will sign it as soon as it crosses his desk. the taxes on the wealthy expected to bring in $80 billion. it is $60 billion in new spending which cancels out all
of that chunk of extra revenue coming in from higher taxes. more proof that congress simply does not understand the need to rein in spending. cheryl sandberg, she says as women become more successful, critics become more negative about them. she also says that as women continue to climb the ladder, they have major disadvantages against men. "women still have two jobs in the most developed countries around the world. men have one." she is referring to raising a family. let's bring in ms. schaefer. are you generally in sympathy with cheryl? it is tough being a woman. hard to get to the top. >> i appreciate her directness.
she has famously said women need to take a seat at the table, learn to negotiate, do not leave work too early. we have to be realistic about women and what they balance. it was a fair conversation to have. stuart: i agree with you. it is a fair statement of reality. we had a big fight about this and our editorial meeting this morning. i think women -- i am going to catch hell for saying this, i think women are better caregivers for babies. they are more naturally inclined to do that. am i so wrong for doing that? >> i am a working mother and i also have read young children. i want to be with those
children. i am upset when i have a really long day that keeps me away from them. you are completely uninterested and learning or doing something outside of the home. today, women think they can have it all. it is challenging, it is tricky, it causes some headaches. stuart: on the other hand, i think ms. samberg suggested we were right back in the 1960s. you cannot say that. that is ridiculous. >> no. absolutely not. you're talking about melissa meyer earlier. the reality is, women are extremely important parts of the
workforce. they are outpacing men. businesses understand that both men and women on the flexibility that allows them to have some balance and the lies between home and work. stuart: would you say that the independent women's forum regards the republicans as a threat to women moving up the hierarchy or do democrats a threat? >> we would say democrats. not because we are a partisan organization, but because they usually endorse workplace regulations that make it more costly to hire women. stuart: go ahead. give me an example. >> the paycheck fairness act or the expansion of the sale and ethical leave act. the reality is, women are extremely important part of the workforce. businesses want to accommodate
women. we do passes regulatory legislation, it makes it more costly to employee women. stuart: that is fascinating. that is very very interesting. they say we are helping you. in fact, they are hurting you. that is interesting. stuart: you can come back on this program any time you would like. in extremely high number of young people say they are not affiliated with any religion. what does that mean? what does that mean for organized religion? father jonathan morris joining us in a little while. we have a lot on our plate this morning. we will be talking to judge napolitano in our next hour about this. a new york city teacher accused of sexual misconduct with a student has been earning $1 million sitting in a room for
13 years. is that what unions mean by due process? texas considering a tax break for companies who decide not to enforce obamacare contraception mandate. who wins in that state versus federal battle? the queen of the netherlands advocates for throne. i cannot imagine what judge napolitano will say about that. he will join us. remember, we want to hear from you. send your e-mails. let's get on to it. seven early movers this tuesday morning. here is a name that you know that amazon. they will report its profits after "the closing bell." a disappointing outlook from the disk drive maker, seagate technology. it is down there.
the outlook disappoints. more money coming in at the glass maker, corning. the total profit was down. bmc software lowered its expectations for the fiscal year. it is down. profit dropped 93%. no wonder it is down 11%. net gear. it is down $1.60. the dow is up five points in the early going. 13887. here is a question, if 11 million illegal immigrants are put on a path of citizenship, how will we pay for their health care what they fully citizens? we will discuss it. next, the woman who wrote the book on the cost of obamacare.
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♪ stuart: immigration. there are approximately 11 million illegal immigrants and the united states right now. wanted to put a path to citizenship. how much does it cost our health care system? good question. it surely will cost nothing. joining the company is betsy mccaughey and the author of "beading obamacare." welcome back to the program. in the early stages, illegal immigrants are put on a probationary recourse. they may still not take any federal benefits. i am interested in the cost to our country.
this is when they are fully citizens. what is the cost? >> it could be between ten and $20 billion a year. there is another cost. it could cost legal immigrants or u.s. citizens their jobs. here is why. this current proposal could provide an incentive for employers to evade the employer mandate under obamacare. employers with 50 or more full-time workers have to offer coverage or pay a penalty. the penalty is triggered when one of the employees goes to the insurance exchange and says, by bosses not offering coverage or my bosses not offering coverage i can afford. if they are barred from the state insurance exchanges, -- stuart: you are talking about this probationary period before
and illegal receives full citizenship. >> that could take years. right. the authors of obamacare anticipated this. stuart: i want to fast-forward to the point where some or maybe most of the 11 million achieved full status. they are citizens or green card status. they are eligible for obamacare, medicare and medicaid. that's, i believe, has a cost as well. right now under current law you have to wait five years to be eligible for medicare. that is where the big money would be.
investors business daily estimates $10 billion a year. i think it is actually quite a bit higher than that. we will have to see how many of the 11 million people qualify for staying. stuart: they all qualify for medicare immediately. a system they probably have not paid that went into but they will qualify for. that is a cost and drain to the medicare finances. >> clearly, the more people on it, the more it costs. do not forget, illegal immigrants are already eligible for health care, emergency medicaid and health under the community centers which would be under obamacare with a lot of new funding. i am not saying that we should reform immigration the weight they want to. i am not taking any side on that
whatsoever. i am simply saying that there is a cost involved and that cost at this point is not part of the debate, but it should be. >> you are so right. you are right on that one. stuart: come back soon. betsy mccaughey. 9:48 a.m. eastern. gold going up a bit today. 1664 is where we are. wait for it. anna wintour back in the news because of her longtime boyfriend and what he has not paid in taxes over the past six years. jedediah and charles payne on their way to talk about that story. >> on him and winter and i am so lucky in my work that i am able to meet some of the most incredible women in the world. we are hosting a dinner along with the president in new york city to benefit the obama
owes the u.s. government $1.2 million in taxes. he has owed that money since 2006. that is not all, he is also being pursued by the state of texas. charles, i suspect those taxes will be paid if she wants to be the ambassador of london. charles: it is amazing. this guy had a net worth of 30 million not too long ago. it is pretty interesting. she is probably responsible for at least $110 for obama's presidential run. you know, under -- >> this guy has a sugar mama right by his side.
if he needs a little loan, he has to pay his taxes, he can ask anna for a little bit of help. stuart: the last time we bought and him wintour on the show, was it john stuart or -- they all had a go at me. hold on a second. transportation secretary ray lahood stepping down. any response to that? charles: he said that the 787 is a okay just a few days before they pulled them all out of service. you wonder if he will take 8787 out of town. [ laughter ]
stuart: most of the cabinet will have changed from the first administration to the second administration feared most of them are gone. all the senior positions are going and now ray lahood. >> it would be great if there was a new direction for the country, but i do not think that will happen. stuart: tax the rich, don't cut spending. >> and it will shift a little bit more left i think. stuart: new at 10:00 a.m., the tale of two governors. we are talking about this and can you guess how much money tiger woods saved in taxes by moving from california to
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need, we will spend more, we will give it back. and california governor brown says everything is just fine, his budget will soon be in the black but no givebacks. instead, even more spending and the legislature says forget about that rollback of public sector pensions. so is high growth dynamic texas going the other way from high tax mass exodus of california. isn't that the story all across the nation? ♪ stuart: thursday, january 29, unveiling of a do-or-die new blackberry and here is our tuesday morning company. charles payne is here and nicole petallides on the floor of the new york stock exchange. check the big board in the very early going we are right there
at 138. just got a consumer confidence number, it goes down a little, 58.6. it was 66 in december. that has not at this moment affect the market still up 15 or 16 points. zero impact on the consumer decline. nicole, amazon is coming up the all-time high, down again today, why is that? nicole: we're winning the numbers to come out after the bell, but everybody watched amazon so closely from the kindle fire. the anticipation, the stock is down 2.5% but looking at the stock, look at the 10-year chart. this is the kind of chart the shareholders at home, look at this chart, what a nice chart. it makes me feel good from 2007, look at what amazon has done. up, up, up and away.
stuart: thank you very much indeed. more evidence of the housing rebound according to the latest case shall report, prices rose in november compared to the year before. the year on year 5.5% gain. even the "washington post" picked up on the day paper. the headline is housing emerges and economic bright spots after years in the dark. take a look at the homebuilders right now, charles, let's start with you. do you think i am wrong? the best investment is a single-family home in a new area and you say i am wrong. charles: i would never say you're wrong. the stock market is better. homebuilder since last april, a lot of my ideas haven't been 100%. i encourage every american, one of the things i did in the aftermath of the housing crash was when you had conservative and liberal spending.
i think everyone should own a home, it is an amazing investment. stuart: they retreated from the ethic of own your own home, piece of the action. charles: is more expensive to rent than the owner. stuart: if you could qualify for a loan, that was precisely the time to buy a house. charles: absolutely. stuart: you could have had low interest rates, low mortgage rates. >> and i think we are becoming a ranting culture. you don't understand the personal responsibility and accountability the same way if you don't own something. stuart: it is un-american, climb the food chain, am i right or wrong? >> you are right. stuart: we told you texas governor rick perry wants to change the constitution to return tax money that wasn't sent back to texas. what do you think of that?
>> i love it, this is why i love rick perry. look, i want to be able to keep more of my hard-earned cash. if the government is not overspending and they have some left, don't see what people shouldn't get some of their money back. stuart: who knows what taxes will be hit by some sort of catastrophe. jedediah: i feel texas could do that and still give back some of the money. the state is booming. we're talking about a progrowth, pro-business state. they might be able to publish both of those things. charles: i love hearing the notion this is your money, this is a viable option for your money. the idea is your money. from the federal government somehow everything i own belongs to them and we end up with is a gift from the government. somehow my next check, thank you mr. obama, thank you. it is crazy.
everything we have belongs to the commune, communal of america and what we'r we are allowed toe out of it. stuart: rick perry wants to give tax money back to the people of texas went too much is coming in. california keeps taking it away. listen to this. tiger woods moves to florida to avoid paying california taxes. that was 16 years ago. since then he saved by the cancellations of our next guest $100 million in taxes. compare that to phil mickelson who is a california resident therefore pay 13% of his income over a million dollars, he has had to pay an extra $8 million extra in california just in the last year. our next guest wrote all about this in the "wall street journal." we take our numbers from her.
we'll come to the program. >> thanks. stuart: you also have numbers on the exodus from california. tell us. >> 3.5 million in the last two decades which is a reversal because california is gaining a lot of people in the '80s. the tax decreases in the 90s and people started moving to texas, florida, lower tax states for the most part. stuart: so who's left? who are they? >> mostly upper middle class people. some millionaires have left, a lot of the athletes moving out, but a lot of upper middle class people or you get charged 9.3% now on income over about $50,000. stuart: i didn't know that. i know it is 13.3 over 1 million per year. you are saying it is 9.3 -- >> mili middle-class people ared
like millionaires and on any other state. charles: that is the bait and switch. the rich, rich, rich. but for the utopian socialist welfare states you cannot get enough money from the states. stuart: governor brown says everything is fine and dandy. it isn't about imbalance, it will be in the block, nothing wrong with this whatsoever. said you are a naysayer. >> the last two months of the job numbers, california has lost jobs in the last two months right after the tax increase passed and it was stuck in their head, how did that happen? you are getting a lot of small businesses cutting back. stuart: you think we will see even more out migration? >> and the loss of jobs in the next few months. stuart: what we think is a huge
national story and what we have highlighted phil mickelson because he represents the story. on the landing is this huge tax battle. that is the story, isn't it? the internal tax debate going on in america today. >> it feels calculated, but you also have the jobs. business ibusinesses expanding o income tax states which are generally regulations are friendlier. and the government is friendlier to businesses. stuart: are you a critic of california? >> i'm a fellow resident of california, orange county. the oc. stuart: tha that was about the t republican plays o place on the, wasn't it? you don't want to live in california at all? >> it is gorgeous in december, but i have left.
stuart: when i first came to america my first job was san francisco in the mid-1970s and it was paradise on earth, a wonderful place to live but i don't want to go and live there now. it is not just the taxes. i don't want a state that takes everything off me and gives me traffic jams and regulations and climate control policies and all the rest of it. >> and tell you what to do, what you can and cannot do. new york, california, these places people are going and realize they cannot even be myself and make my own decisions. i am going to florida. stuart: jerry brown wants to pass a bill, or the legislature does, that will exempt thousands of public sector workers from any kind of pension rollback. are you familiar with this? >> no, i am not. stuart: a proposal to roll back pensions in the public sector. the legislature says no, you can't do that, absolutely not
california's budget is still in a mess, i think. >> right now they haven't had any constructional reform, which is what they need. especially on the local level. right now what they're really wanting to do is bail out the local cities going bankrupt. stuart: would you ever go back to california? >> for vacation. stuart: well said. thank you for joining us. an extremely high number of young people, about a third actually say they are not affiliated with any religion. what does that mean for the future of the country? what does that mean for the future of organized religion? father maurice wil morris will n that subject at 10:45. rim said to release the blackberry 10 tomorrow i want to know where the stock is today. how about today, nicole. nicole: it is down about 5% today. not a good start tacking onto
yesterdays losses. this stock has been running hot year to date. research in motion is a winner year to date. up 115%, so this stock has been running hot ahead of the blackberry 10. tomorrow is a big day. stuart: the day traders dream. nicole: i cannot wait to see how it is received. will they have the apps, the corporate customers, what everybody dreamed of, security, the greatest keyboard, their rocksolid e-mail. this is what blackberry is known for. stuart: they keep going on and on about the smartphone business and we discuss it, but i think that is legitimate because the smartphone is the technology device of the decade. >> everybody has the two names because this is what we will be watching for sure. we waited over a year for this
one. stuart: i want to know the specs. thank you very much, nicole. not a big move underway today. a drop in consumer confidence reported at the top of the hour made no difference whatsoever to this stock market. no, this is not a mistake. maybe the u.s. market should take a hit from japan. cutting welfare benefits by about a billion dollars over the next three years, lowering ss 6.5%. now why are they doing that? some people on welfare were doing better than the average low income working person. what you have been saying, charles. charles: i love, love, love this story. this guy who has come in, he is printing money and all that, that part, forget about it. trying to bring back the wary instincts, the samurai instincts.
it is something worth watching. people are living comfortably. i have talked about this. they don't even want to get married, women have to make the first move, they have become so soft and flaccid, i don't want to work because they saw their fathers working and they just want to go to the hair salon and chill out in the house all day. this guy says we have to change it or we are going to sink. jedediah: they are realizing the american work ethic and we are not. we are going in the opposite direction. charles: 100% in the opposite direction. you shouldn't feel guilty about it, you should deserve it, you're entitled to it. in the inaugural, you are not a taker, people on food stamps don't take risks, people on welfare don't take risks. i thought the president was nuts when he said that.
beyoncé would not even sing the national anthem. people do not take risks under this administration. stuart: that was good, very good, charles. i like that. this new york city mayor outspoken advocate confronted on the street. frequent guest and a man not afraid to take on the big names in the news, he is next to talk about this. >> will he disarm their entire security team? >> i will get back to you.
stuart: microsoft launched the new office software today. the first update on that software in about two years and to compete against google free online apps. the updates available online. microsoft stock down a little. pfizer reported less than expected money coming in because of sales from emerging markets. a stock is up little bit this morning. and making the printers reported quarter profits down 91% because they got more business from places where taxes were higher. shares down 7%. maybe we were right to put finger on deathwatch despite the
makers were according to reports next week, the stock price is down again down 3%. coming up: men who questioned mayor bloomberg and his gunwielding security. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. have given way to sleeping. tossing and turning where sleepless nights yield to restful sleep. and lunesta®(eszopiclone) can help you get there. like it has for so many people before. when taking lunesta, don't drive or operate machinery until you feel fully awake. walking, eating, driving, or engaging in other activities
while asleep, without remembering it the next day, have been reported. lunesta should not be taken together with alcohol. abnormal behaviors may include aggressiveness, agitation, hallucinations, or confusion. in depressed patients, worsening of depression, including risk of suicide, may occur. alcohol may increase these risks. allergic reactions such as tongue or throat swelling occur rarely and may be fatal. side effects may include unpleasant taste, headache, dizziness, and morning drowsiness. ask your doctor if lunesta is right for you. then find out how to get lunesta for as low as fifteen dollars at lunesta.com. there's a land of restful sleep. we can help you go there on the wings of lunesta. stuart: new york city michael bloomberg is very much pro-gun-control. when our next guest caught up with him, he asked the mayor if he would be willing to give up his armed security detail. look at this. >> mayor bloomberg.
iin the spirit of gun control, will you disarm your entire security team? >> we will get back to you. >> would you like a sip of my soda? why can you defend yourself but not the majority of americans? look at the team of security you have got here. and you are an advocate for gun control? one, two, three, four, five. there are probably more. stuart: that video has gone viral. the men i man in the video is jn mattera, author of hollywood hypocrites and he joins us now. you ambushed him. didn't you? >> i think this was pretty straightforward and i would consider it aggressive journalism, a question that should be on the tongues of most press members today, and it is very simple. if michael bloomberg has his own personal s.w.a.t. team protecting him, and he showed as the mayor of new york city, why would he go out there and be the
most prominent and deep-pocketed advocate for gun control to restrict the rights of americans, new yorkers to protect themselves and their families from possible home invasions or other violent crimes. stuart: you would agree the threat level against people like mayor bloomberg is a great deal higher than the threat level against a person at their home. the threat level is different, isn't it? >> sure. nobody to grudges mayor bloomberg for security. but if he says that guns are the reason why we have violent crimes and less guns would equal less crime, then he should lead by example. clearly he wouldn't go ahead and lead by example, he had n.y.p.d. officers guarding him presumably who are armed with firearms that have magazine rounds of 15, so
why is he trying to restrict new yorkers and others? eliminating certain firearms in this business hypocrisy. stuart: you asked him if he wanted a sip of your soda. that was a sure sarcasm. >> i wanted to make sure our mayor was properly hydrated. jedediah: that was my favorite part. stuart: if it was a band legal substance in that area. jedediah: like a big gulp. charles: i have to tell you, we understand celebrities, but when you open a newspaper celebrities shot overnight and robbed, happened to be pulled in such as chris brown, so i think jason is spot on with this.
>> again, think it is a pretty straightforward question. the security team followed me down the block clai clinton ahed security jurisdiction to question me and security jurisdiction is not even a legal term. they asked for my date of birth. i had to essentially show who i was in order to ask inverted question, but they don't even id the boat. asking a critical question for a prominent politician. stuart: on the screen right now, that is where you are being asked to provide id before you could ask any questions and they followed you down the street. >> they followed me twice for us to question me who i was in the show identification. i asked the n.y.p.d. officers he had jurisdiction, he said he had security jurisdiction which doesn't exist, he can't investigate anything in d.c.
and then he followed me to ask for my date of birth. why would you need my date of birth? is this how we are going to treat members of the press? over personal information just because we don't like the kind of questioning and reasoning they propose? excuse me, we are not peasants who work for you, you work for us. >> everybody labeled it as so outrageous when all you did was ask a very basic question on the mind of every american, so if our media wasn't so lame, you would not seem so outraged. stuart: the facebook page, that is where it will be, right? they say yes. watch the whole thing. president obama's appearance on "60 minutes" with hillary clinton was nothing more than a valentine. another in a long line from the very complaint media. that will be the subject of my take, which is next. this is $100,000.
any of the eleven million who move into that status are immediately eligible in full subsidies, 100% subsidies for private health plans understated stearns exchanges that will exist in all 50 states. stuart: betsy mccord join us to talk about the health care cost after a eleven million current illegals if they all become real citizens of the united states under the senate's proposal. interesting cost question. check markets. the consumer confidence number that came out 20 minutes ago. you are walking hog. nicole: shareholders of harley-davidson are going hog wild, you have it here, 52 week high today, stocks has gained
20% over the last year but they don't have as many motorcycles as they hope to. the outlook is really pinpointing the demand of the consumer news and the nation new computer systems, harley-davidson working on producing the exact motorcycle the people really want so they don't get a glut of the inventory. end pinpoint is one of the reasons there are up arrows. a nice run over 52 weeks. stuart: thanks. how is this for a really outrageous story. one teacher in new york city has not taught a class in 13 years but is still on the payroll. to date he has taken in $1 million for not working. how is that legal? two words. due process. the judge weighs in on union power. also a new law proposed in texas will reward employers for violating obamacare.
it is down to the controversial issue of contraception. yeasty to 6 on a federal law. judge andrew napolitano will be here on both stories starting at 10:35. all right, where are the sharp questions? where is the search for the truth? have you seen much probing analysis? if you were visiting from mars you would think this administration walks on water, and touch, high above mere voters. here's my take on the media and in particular 60 minutes. at short notice president obama ordered up an interview. he wanted to join with hillary clinton. 16 minutes accommodated the president's demand and gave a lengthy interview without a single, not a single probing question. it was pure flattery. it bordered on propaganda. this from a news program that claims the high journalistic
ground. this is not news, it is fawning taken to a higher degree. think about other reissues in the news recently. as president obama been questioned about the huge cost increases brought on by obamacare? questions about his climate change comments or the run-up in the debt from the storm relief measure or the future cost to medicare, immigration reform? i haven't seen any of them. imagine the outcry if president bush were in the white house. i will go further. compliant media have allowed the president to blame the banks, wall street and a rich for the weak economy and rising debt. where is the criticism of the president's own policies? not there. free speech goes deeper and the right to say what you think. free-speech needs a free and open debate. it needs two sides. at the moment one side is needed. the media has taken a position where the president's policies go unquestioned. that is not good. it is not healthy for our
politics or our economy. 60 minutes and the rest of the establishment have let us all down. [ male announcer ] how can power conmption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. twe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses all stations come over to mission a no go call. go. this is for real this time. we are on step seven point two one two. we have entered our two minute hold.
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don't wait until you become the next victim. you have so much to protect and nothing to lose when you call lifelock now to get two full months of identity theft protection risk free. that's right, 60 days risk-free. use promo code: gethelp. if you're not completely satisfied, notify lifelock and you won't pay a cent. order now and also get this shredder to keep your documents out of the wrong hands-- a $29 dollar value, free. get protected now. call the number on your screen or go to lifelock.com to try lifelock protection risk free for a full 60 days. use promo code: gethelp. plus get this document shredder free-- but only if you act right now. call the number on your screen now! stuart: a dow holding on to a gain despite a bad reading on consumer confidence at the top of the hour so let's bring in
tres knippa from chicago. we have all this bad economic news in the background but i see the dow 260 points away from an all-time high. explained this to me. >> you can't fight the tape. when you are wrong you're wrong and i will admit the times i am wrong. if you had told me apple was going to pull back from 700 to 450 i would have said the s&p had a 20% pull back coming and the s&p has rallied even though apple has sold off. you have to respect the tape but i am moving into a very defensive posturing here. i don't see how this is sustainable. i don't think you can move more than 10 or 12% on the year. i don't believe the big lead story. stuart: thank you very much. first time we have heard that. good stuff. see you again soon. now, everybody, listen to this.
disgraced music teacher who confessed in 1999 to sexually harassing girls during his one and only year of teaching has earned nearly $1 million by sitting in a room otherwise known as the rubber room for 13 years. the hearing officer decides whether tenured teachers can be fired ruled he wasn't told his rights and dismissed the case making him the longest sitting room teacher. new york city that would be. all rise, judge andrew napolitano is here. is that perfectly legal? judge napolitano: regrettably it is perfectly legal under the laws of the city of new york and the state of new york which were written by politicians who rode deuce to the unions. literally saying something back to the unions for supporting them. it is really to calling represent -- representative is guilty of an understatement. this person has paid a handsome salary bitterly for doing nothing. notwithstanding the crime to
which he admitted and a bizarre series of events as to how this happened. he was in that room when his tenure became automatic and the school system which has a mind set that the union has to be protected people have to be protected no matter how bad or unproductive they are because they are in the union allowed him to get the tenure. once he got the tenure, interfering with his ability to collect his paycheck is almost impossible under new york state law, not withstanding the prior criminal activity. stuart: that is incredible. he was in the rubber room. judge napolitano: the rubber room is terminology for a place in a school administration building where you just sit and do as you wish, perform no services, you can serve as an administrator but collect a paycheck because you are deemed inappropriate to expose to children. why are you still on the
payroll? the collective bargaining contract between the union and the city will not let the city fire you. the law in this city support that. stuart: you want to say something about jasonmac para. judge napolitano: a hero for the manner in which he approached mayor bloomberg and showed many of the pro-gun control people for the phonies that they are. well protected by well-armed goons but unwilling to let us protect ourselves. stuart: you better sit right there. charles: you don't have a car. stuart: the judge will be back later this hour from hong kong performance to talk texas and british royalty. hold on, everybody. [talking over each other] stuart: the netherlands royalty by the way. you can't. organized religion becoming less
and less popular among young people. but that does not mean -- are we becoming god bless pagan's like the europeans? father jonathan morris on the importance of faith next. [ male announcer] surprise -- you're having triplets. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can get all the online trading tools you need without any surprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade. executor of efficiency. you can spot an amateur from a mile away...
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stuart: we are going to call this a make or break time for rim, releasing the blackberry 10, first new phony a year-and-a-half. right now the stock is down 80%. apple announcing it will release a version of the ipad with more memory, it has doubled the amount of storage for $100 more and hits the shelves early next month, apple stock rebounded little up $6. yahoo! stock was up even after reporting a drop in profit. advertisers on line, advertising on line, revenue went up but that is not enough. below $20 a share. congress just passed a $50.5 billion relief package for areas hit by hurricane sandy. lot of pork removed and president obama will sign it as it is the crosses the debt but new spending, it adds to the debt. ♪
making the big romantic gesture. that's powerful. verizon. get a nokia lumia 822 in red for free. stuart: more people becoming less religious that doesn't mean they're not looking for a spiritual life, 1-third of adults under 30 have no religious affiliation. a few research found an% of those who don't identify with religion said they're looking for one that is right for them. joining us now is father jonathan morris, fox news contributor. welcome to the program. this looks like not the demise
but decline of organized religion. is that what is going on? >> yes and no. there are more people than ever before who call themselves nonreligious but i wouldn't necessarily or voluntarily call myself religious. i read this, that is to i am. i'm a believer, i am an american, happen to be also a priest, i do this and that but there are many people who lost trust in organized religion. stuart: why have they lost trust with the leaders of organized religion? not talking about scandals within catholic -- that is part of it. but not all of it. >> obviously that's pacific scandal was real land loss of trust no doubt. whether or not people are getting convincing, compassionate reasons for believing. in the old days of saying i am
protestant, and i am catholic, i am jewish because my parents told me i am, those days are almost over. a much better position is i was given this tradition and i am going to find out convincing reasons whether or not i believe. stuart: it seems to me america is going down a european road. europe is essentially a piquant continent, can no longer be called the christian confidence. you can't save it and america is going down that road. you agree with me? >> in a sense but a lot of people who refer to themselves as spiritual which isn't much more friendly word often times mean religious. they prayed to god. don't necessarily believe in the organized religion that they do have a relationship with god. stuart: i think it is new age. spiritual, mother earth. >> that is part of it but a very good point, only six% of
americans said that they are atheists. that is very low. when we look at the recent record of the decline in organized religion we have 14% of people who say they are unaffiliated and this report related unaffiliated to agnostic. that is very different. agnostic is i can't prove there is a god, therefore i suspend judgment. there are so many people, in my church downtown, lower manhattan, the most secular area in the country, very -- people coming back in droves and these are people whose parents are not going to church, 20 to 37s 2 are there not because they have to, not because of a tradition that forces them to be there but because they are tired of a secular society that gives no deep, lasting eternal meaning for things like business. stuart: charles that point is the rise of the atheist, the
aggressive atheist. neil: they are taking victory laps and they have a lot of influence with the president, the media, it seems they are pushing their case harder and harder. >> they are good at it but it is a new media world in which we are doing it, and we have those tools, on a twitter accounts, reach out to thousands of people with a message of truth and goodness. and hopefully where people can understand, not coming to judge but offer something and not to impose but to offer. things aren't so bad. stuart: i don't want to see america go down the pagan rome of my european i suppose relatives. >> you are european. listen to yourself talk. you are american that you are european. you talk like a bread. stuart: is this a confessional?
>> i am stating the obvious. your european. >> i the most pro-american american -- i more american than you are. next -- >> we will let that one go. >> next the judge returns to talk about taxes, a real american state. can that state give companies an incentive to ignore controversial mandate on obamacare specifically contraception and we will discuss royal succession and why queen elizabeth must never ever do what the queen of the netherlands just did. that is next. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses.
stuart: in new law in texas is being considered it would reward companies for violating obamacare's contraception requirement. let me get this straight, considering a lot in texas, and if you see a net to the mandate you provide contraception, we will give you a tax break to make up for it. judge napolitano: basically saying it will be neutral to you, and whenever a fine newspaper the federal government for failure to comply with obamacare we will make of that fine by relieving of the obligation to the taxes you owe
the state. and stuart: in the debate? judge napolitano: no. it is based on religious belief. if a tempered the proposed statute to say you don't have to object to contraception because it is against your religion you can object to contraception because it is your values they can do it because if they reimburse someone for exercising their religious beliefs, they, the state of texas run afoul of the first amendment. stuart: the motivation is quite good. judge napolitano: basically saying the federal government is interfering with your freedom of speech and expression. we will insulate you from federal interference but that insulation cannot be grounded in religious beliefs otherwise the installation itself is a foul of the first amendment which prohibits favoring one religion over another and prohibits favoring religious over nonreligious. stuart: thanks for explaining it. it is a complicated thing that is interesting. judge napolitano: only in texas. stuart: an interesting political move on the part of governor
perry. netflix, this is for you. what about the queen of the netherlands? 75-year-old queen beatrice. stuart: she is a youngster. judge napolitano: she is a youngster, steward. stuart: she is going to step down in favor of her younger son. you don't approve of monarchies. i would not approve of queen elizabeth stepping down in favor of her son, charles, to become kings before he is an old man. do you have any comment whatsoever rather than to be vigorously sarcastic with an english accent? judge napolitano: the monarchy should be sold to relieve the burdens on a british taxpayers. stuart: what? ridiculous. judge napolitano: you told me not to be sarcastic but to be truthful. that is a true expression of my views. stuart: the cost to the british taxpayer of royalty is less than the cost to american taxpayers of 1 trip by president obama and
his family to hawaii and back. judge napolitano: you are probably right because the presidency has become mcburney marty. with respect to the expenses and glamour of around it and that is not good. a minimart your old-fashioned monarchies. off with their head. i just. stuart: judge andrew napolitano always good. see you here tomorrow and the highlight reel -- i don't know what is in the highlight reel today but it is next. la oh, i like it! [ garth ] sven's small business earns 2% cash back on every purche, everday! woo-hoo!!! curity gators, right?ll business earns 2% cash back put them on my spark card! why settle for less? testing hot tar... great sinesses deserve great rewards! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? here's your invoice.
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stuart: i believe this is the jason and mayor bloomberg highlight reel. >> why would he go out there if the washington post called him the most pocketed gun-control advocate. stuart: it is really good stuff. >> one, two, three, four, five. there are probably more. stuart: he asked the mayor if you'd be willing to give up his armed security