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tv   Varney Company  FOX Business  August 30, 2017 9:00am-12:00pm EDT

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quarter. >> for people want to help other victims of hurricane harvey, there's graphics up all morning on how to help. make sure you're not been scanned and let's pray for those who continue to suffer. stuart: blessings, all. mr. varney, take it away. stuart: i shall. it is not over. harvey is heading east very torrential rain has the texas, louisiana state line. new orleans threatened. this is still a story of ordinary americans helping each other. yes, it is inspiring. good morning, everyone. first the news overnight harvey made a second landfall now headed north and east towards louisiana. it dumped another two feet of rain in the belmont region could result in the nation's largest refinery closing. almost 20% of the country's refining capacity is now down. that is a supply problem and gas prices are already rising.
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nationwide, an average gain of 225 cents per gallon. $2.40 as the national average price and this is just the start. in houston, the sun appeared briefly. it was a curfew overnight. 14 looters arrested. the rescue operation remains in full swing with the volunteer navy plucking thousands from their flooded homes. that's the inspiring part. you'll see more of it on this program today. the media however, they just had to spoil it, didn't i.? the president went to texas to offer federal help and they picked on melania's shoes. enough, please. today the president goes to missouri. he's refocusing his presidency and the deal with, grow the economy. most of america likes this. "varney & company" is about to begin.
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well, look at that. the sun came out this morning. that is the son in houston, texas. came out however briefly. first appearance since thursday of last week or obviously a very welcome sight. jeff flock, the man from richmond, texas who has the best of the volunteer navy yesterday is now waist deep in water. where are you? >> we are in richmond, texas as the focus switches to the rivers that drain the floodwater from houston. the brazos river imi delong is typically walking along here. it shows you how fast those waters are rushing as they make their way from houston on down to the gold. we will be live throughout the morning in richmond along the
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brazos river. as you point out yesterday, what a day we had with rescues. it was a remarkable coming together of private citizens, volunteers, local police first responders all pitching in to get people out of the community we told you about what this program yesterday that was in peril because of the use of water from those reservoirs that never flooded in 50 years but because they had to release from those reservoirs, all of those people got flooded. they didn't expect they had to be carried out often in tears and with only the things they could carry. it was a crazy scene, but great to see how america came together for a brief moment that everyone came together to save each other. it was a great scene. stuart: hat tip to you, jeff flock. you are brilliant and i hope you continue on the show today. thank you indeed. the storm harvey is beginning to have a direct impact on the price of gasoline.
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there has been a spike. what you are looking at now is the wholesale price of gasoline up 12 cents this morning. six by 5% higher. that is a huge spike and that's the wholesale price that implies further pump prices down the road. already seeing an overnight spike in the price at the pump. that is what you and i pay of about 2.5 cents per gallon. $2.40 as the national average. you've got the latest on the pipeline that delivers a lot of gas from houston, texas to the mid-atlantic states. liz: it's a colonial pipeline, mississippi river of fuel. that's what it's called by oil traders. serious capacity there in the pipeline cutting supply from houston area refineries has made that transported through the pipeline go down. now there's talk of a 35-cent hike, maybe 40 cents cutting into the busy labor day weekend. gas features now at a two-year
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high. the pipeline picks up and feeds into new york. we know after katrina did new york area saw a dollar price hike and after 2008, hurricane ike and one day when not. we are watching the story closely. this gas pipeline and jet fuel supplies about half of the feel for the entire east coast. stuart: live from the thank you indeed. senior editor with barron's magazine. we are off, running, the price of gas at the pump is going up. i don't know how much in the long run. what is your estimate? >> it sounds plausible. what matters is what it will do to the economy. i don't think it will grind it to a halt. what matters is the starting price starting at a couple bucks a gallon. fuel is lower as a portion of discretionary spending for
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consumers. the american consumer will be able to handle this and be short-lived. >> we don't know that because we don't know the extent of the damage to refineries and how long it takes to get a pipeline. no one can tell you that at this point. you are looking at a spike in gas prices at the prompt. one thing i was expecting and i've not seen it yet, maybe just ended up looking. people lined up at the palms in the mid-atlantic states come in the, georgia lining up to fill up every vehicle they've got. i've not seen that yet, but i wouldn't be surprised at it. >> the price increases seem to roll out a lot faster than the price decrease always. >> it's not a popular thing. that is for sure. thanks very much. stay there for a second. this was just moments ago appeared president trump tweeted this. the u.s. has been talking to north korea in paying them
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extortion money for 25 years. talking is not the answer. when not tweet came out, the market turns south. we have been up 30 or 40 points. now we are down 24 points and that north korea to eat is what did it. a quick check on the price of gold. the safe haven investment was down earlier about seven or eight bucks, holding about $1300 an ounce. the president treats about north korea takes a hard line, says enough with the talking. is that what brought the market down? >> i would imagine so. with the stock market, investors have gotten used to the idea if they said that that's going to come right back. we all wonder at the end of this long bull market. what triggered the huge decline after 2007? an existential crisis. people worried about the banking
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system. this get people thinking along those lines. what if there is some sort of a breakout of work, nuclear exchange or something like that. >> stay there, please. more in a second. president trump included texas to show support for her music than simply an update on the relief effort. roll that tape. >> i want to thank you for coming out. we will get you back in operating immediately. your governor has done a fantastic job. this is historic. it's epic would have been. but it happened in texas and texas can handle anything. thank you all, folks. stuart: today the president has two springfield, missouri. he's going to talk about tax reform about 2:30 eastern time. fox news contributor mercedes shellac is with us.
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he is dominating. this president now dominates the headlines certainly this week from top to bottom. would you say? >> when you're looking at the president at this very tragic moment in what's happening in texas and the president has gone directly to where you are seeing this area being impact did with the comforter in chief where he's taken on this very presidential role of being in solidarity with the vet guns, providing support to first responders, basically sending the message that we are with you, texas and texas can handle this. that is inspiring. that's aspirational and that is exactly what president trump has done when he visited texas. stuart: mercedes, i will bet you big money when he speaks today on the tax cuts come he would be criticized pushing his growth
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agenda at the moment of despair in houston. guarantee it. >> i could see that happening, but i will say the president will be talking about what's happening in texas and what he saw firsthand they are in the strength of the morale and texas right now. i think he will be talking about that, but it's also important for the president to start talking about tax reform. is this going to be here before we know it? an opportunity to start having dialogue with the american people to explain what this means to jumpstart our economy. while he might be criticized by those in the mainstream media, the president will be very aware of the fact he will talk about texas as well. missouri has suffered from natural disasters. it's an opportunity to not only staying with you, texas and we're also talking about tax reform. stuart: i find this contemptuous, but i'm going to bring it to our audience attention for a second.
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look at these headlines from first lady melania on the "washington post." sometimes a little pretense helps. snarky. for "the new york times," melania will trump off to texas find herself on thin heels. i think that's pathetic. would you say? >> it's beyond pathetic. the mere fact the "washington post" and "new york times" are relating what he wanted where's in terms of solano heels and if that connects to their empathetic nature is absolutely ridiculous. they sound like a gossipy magazine for "people" magazine more focused on fashion than they are about what the first lady did, which was go to texas, stand next to the president, be there with the first responders, meet individual suffering through this trial says. she is truly doing what she needs to be doing. she even sat out a positive uplifting statement that she is praying in her thoughts are with them. she would do what she can to
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help. as for the first lady doesn't melania did that perfectly well. the fact they are talking about shoes is outrageous. stuart: i would have had something stronger to say, but she did well. thank you, man. appreciate it. now the storm track of harvey hit land a second time right around the state line in louisiana. janice dean is next and she will tell us what that means for new orleans as harvey trax east. throughout the program will bring you the stories of ordinary people doing extraordinary things in the face of this tragedy. watch it. it's time to rethink
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>> i waited so long, i didn't know who to call. i didn't know if it was going to be too late. stuart: raw emotion and gratitude from the woman rescued by volunteers. a lot more on this this program. by the way, and harvey has made a second landfall in louisiana. let's bring in janice dean. the obvious question is made landfall, moving towards louisiana. is new orleans threatened? >> not as dire as in southeast texas. southwest louisiana, potential for heavy rain. new orleans is going to be okay. i want to make mention beaumont, texas, port arthur, texas
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getting a flood emergency in these areas. they are, port arthur has basically set our city is under water. our town is under water. obviously we focused on houston, city of 6 million people. when you have small towns getting over 24 inches in under 24 hours, we are going to have devastation not only in the houston area, but places like port arthur, orange, beaumont, texas. these are all areas under water. stuart: can i interrupt for a second? i saw a report that beaumont, texas received 26 inches of rain in a 24 hour period. >> that is very accurate. we've been seeing rainfall with the system anywhere from six to eight inches an hour. you can easily receive 25, 26, 30 inches of rain in 24 hours at the deep-sea tropical moisture. lake charles watching new orleans but the worst is not
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going to move. we do have a tornado threat for parts of louisiana, mississippi. the stromal eventually moved north and east within the next 12 to 18 hours and then go across the mississippi river valley and ohio river valley. at least there is a path for the storm to move north and east. there's no dealing with record dating rainfall and unofficially, stuart, we've gone over 52 inches. that means they set a record in terms of u.s. landfall, tropical systems and potential of rainfall we have surpassed hawaii, which was the last time we saw 52 inches from a tropical system. stuart: stunning. please come back over the next couple of hours. the "washington post" taking a jab at the president on his visit to texas. here's the headline. even visiting hurricane ravaged texas, trump keeps the focus on himself. nothing more than sniping.
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roger williams, republican from texas joins us now. he can't do anything right in the eyes of the media, can he? >> no, it's ridiculous. i was at the president yesterday. he did a fantastic job. texans made a little pep talk and he gave it to us. i don't know where these people are coming from. he did a really great job. i was proud of him yesterday. stuart: did you ask him for his duff and the federal government indeed you say yes to get it? >> i know he talked to governor abbott and said he would fast-track the assistance down here. i agree with him as a member of congress would need to get back and put a down payment on the disaster down here and begin to get lives back to normal as quick as we can and move forward how we'll pay for it. stuart: congressman, will that be a separate bill put before congress to pay for harvey? or will it be rolled into a budget deal of some sort? >> it will be a separate bill.
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make a separate clean bill and let's hope all of these people in dire need of assistance right now. stuart: the criticism of the relief of super storm cindy is a list loaded up like a fishery. you are not going to do with this bill to help harvey, right? >> i hope not. that was one of the reasons andy failed and i didn't vote for because it had unrelated things above. it's put a down payment down when we get back and begin the process. we need to act quickly and not get political. stuart: great to see the volunteer navy, how they react to. all through the show today we got the word inspiring and that is the truth. roger williams commit thank you for joining us. i know you're busy. bloom upon quickly. thank you connoisseur. jay jay watt raising millions of
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dollars for the city he plays for all through social media. stay there, please. we will tell you how much this man raised. another live update from houston coming up for you. "varney & company" continuing coverage of the disaster known as harvey.
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stuart: griff jenkins joins us from the addicks reservoir. that is the place which overflowed yesterday. is that still overflowing? griff jenkins. >> stuart, it is overflowing and will flood the area in neighborhoods rhombus reservoir. the next 45 weeks, people should be expecting to be flooded until october. the blue sky behind us on the ground. the rescue continuing going off behind me. treating just minutes ago if they are searching for two volunteers and other volunteers overturn their boat. one of three was found, two still missing. they'll be taking advantage of this good weather doing as many rescues as they can in this area around this reservoir because the north side is going to flood
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in flood and flood. we are also probably going to learn some sad news is people get in there with these conditions can see better, perhaps a higher number of casualties in this whole thing in areas where water is receding. stuart: sad news indeed. thank you for your reporting. where are we going when the market opens in 3.5 minutes time down ever so slightly. a mixed opening for this market. back in a second.
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>> bang 9:30 eastern time and how can you say pretty much mixed i'll say it we're down a mere 2 points virtually dead flat winners losers just about even. is that about the same on the s&p 500 let's have a look at it please get a sense of broader market upn't 8% i'll call that flat. how about nasdaq down recently last few sessions on the downside. up 1 .0%. i'm going to say it, pretty much stable. steady as she goes as we open up the safe haven invest m of choice recently has been gold. backing off a bit today down $5 but above 1300 an ounce. now here's the real market impact are from harvey look at that. that is the wholesale price of
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gasoline. a become 90 up 12 cents. 6 and a half% i'll call that a spike that is a spike and you'll be paying more at the pump a few days down the road routh price of gas at the pump is already moving up 2 cents higher overnight 2:40 is national average that's the scene as with said it today. ashley webster, elizabeth elizabeth macdonald and with us this morning i want to start with the impact on gas prices. around the block shaar what's the impact more than what we've seen so far? >> it won't last long. as of yesterday, the refinery descriptions amount of about 15% of capacity so we probably -- stuart: 20% today. half is closed. >> higher but from what i've read everything seems to be okay but disruption in materials of ship and pipeline and folks
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getting to office et cetera and managing it but there's no serious damage to date so i think it will see a speak but probably come down. again you know driving season sofer, and so refineries have been running they've made upgrades so they're in good shape as long as there's not long-term damage to fineries we have a glut of oil down to $46 a barrel. >> we scrape below -- >> jack bright an early he said look we're already paying lower gas prices than we used to and this is a major interruption supply through the colonial pipeline that goes up to new jersey. ij the consumer can handle it but that's a big if those pipes stay intact. >> now i want to mention a negative which came out this morning it's a tweet from president trump, it was about north korea at the point when it was issued, the market was up substantially so just 20, 0 points when the tweet appeared, down it went. can we put that tweet on the air please? this is what the president said this morning, regarding north
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korea, i'm trying to find it desperately yet here we go. i got it. he said the u.s. is been talking to north korea paying them extortion money talking is not the answer. pretty hardline there from the president. d.r. barton what do you say about that? >> well i think you're spot on stuart the market was had a nice little upmove overnight. and the minute that tweet came out, we did see an immediate drop. so that was the reason we got that drop. but as per usual, this resilient market bounced back off of that drop, and until we get the next -- the next exchange i think we're going to see more upside right now. >> i think you use the right word restill yengt despite it all. how about this? we got news this morning that in the second quarter, the economy had expanded at an annual rate of 3%. that's pup a -- that's very nice isn't it?
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a policy. >> this one was economist. whether he likes it or not host an economist. [laughter] >> this morning on the one hand and on the other hand. okay 3% growth that's not bad? >> a good number. led luke to see it repeat for a few quarters let's keep us above 3% for a while and then i'll call it a strengthening of the economy. >> don't you think that this -- all this spend hag we're going to be doing to recover from harvey won't that add to our growth rate you're shaking your head. what's wrong? >> you can look at past disaster like the nuclear dismer japan and see it hit the gdp but look folks gdp is a lousy measure of human well being right it measures money i whenning arranged economy but words are are bad. hurricanes are bad if we spend money on junk food and diabetes medicine we increase twice and not any better off. so not bads. not bad. >> an analysis you --
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i think you think that harvey is stimulative. >> how long it will last maybe a year or so if you look at back at what happened in morals in 2005 not a lot really happened there. new orleans lost about 50,000 people that never returned. houston has a much stronger economy, and 2015 commerce department peg their gdp and much more diversified certainly than new orleans which is basically -- based on tour sm so it should bounce back but question of how many, what are losses for personal folks in terms of small businesseses and property damage that could be a problem. and how many people will move with ways to be seen. stuart: sum it up dow jones industrial aver five minutes of business is down about 20 points. in the back drop we've got the north korean tweet from president trump. we've got the 3% growth of the economy in the second quarter, and we've got the possibly stimulative affect or otherwise spending to reare build after harvey a pretty much six to one
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and a half dozen of the other not much change down 12 as we speak. now this -- the president heads to springfield missouri today he's going to talk tax reform. tax cuts he's bond storm that's what investors want to hear shaw much >> something concrete out of the administration but from are congress too. unfortunately i think what president is going to do is teen the larger, broader term respective of what could happen with tax reform with tax cuts. you would like to see details and market might be disapoupted we dengt and they're anticipating that i think. >> mog for the cbo so score with no detail and no income complaints that's been the complaingt and so many of them flying around. >> i've heard income inequality i don't think the market cares one or the other. >> national peeks is -- >> let me ask you this directly if the president comes out today with a barn storming real thumping good speech, on how to cut taxes and what you get out of to, i say the market goes up.
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he speaks around 2:30 this afternoon. what do you say? >> if he gives that great speech we might get a temporary spike i'm with shaw if he gives us some detail then we really get all push up. absent detill i'm afraid we'll get a glip and blip. >> i've got something to follow-up that item of news with. here it is fox news has just confirmed that paul ryan mitch mcconnell charles schumer nancy pelosi, they will all meet with president trump at the white house next wednesday. senior democrat aid tells fox that pelosi and schumer expect to hear had republicans proposals for get everything done in congress next month. >> coming off the august recess they have the debt ceiling they've got the budget they've got hurricane harvey spending and so will the president now say listen, we with need tax cuts right now to get this economy moving even more so? >> bring in top four people together, next wednesday --
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>> i guess that's something but what are they going to do? gong to be more press conferences after with nancy pelosi and chuck schumer telling you -- i mean, time for -- >> he's moving the board forward. he's barn storming taking action doing whatever he can. >> not enough legislative time to get all of these things done he has to focus on one thing. i think if he focuses on tax reform, tax cuts specifically for middle class and then market would see another leg. >> he is whether had he has olive branches extended to mitch mcconnell that's public viewed has that calm down. >> jack what had do you say? >> tax cuts definitely not any kind of tax reform. you know, this year or over the next year. >> but tax cuts this year. >> tax reform is a big issue because dirty secret is not a system of revenue collection but a system of spending in disguise you have to deal with a system of the way america spends money. >> let me address our viewers directly question get tax cuts this year on the books this year, they're back dated to january first.
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of this year -- which means on april the 15th, of next year, you, any taxpayer just any taxpayer will get a whopping great big refund check that ladies and gentlemen stimulate does it not? >> yes. >> and bush -- did it in 2001, with rebate checks. stuart: distance will i didn't hear you cheering go ahead tell us about it? >> no i said i yelled that does stimulate. you know, and putting money into houston which we have to do in the texas area, that's like the broken window fallacy question get a short term benefit but not a long-term one. tax cuts give us a long-term benefit and i'm with jack, if we talk a while to reform, but if we can get some tax reform that will give us u the best long-term benefits. >> so individual companies stocks in the news, and going places. start with apple, the stock is doing so well -- that tim cook will get 89 million dollars worth of bonus. what's that about? >> yeah half of that 89 million
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will go toking tays 46 million of it but you know he's on the march towards getting 2.9 -- 2.94 million shares of apple the payout there as it stays value 447 million and started at apple in 2011 given a compensation package an now required more shares with 1.4 million shares in the company. >> doing well. doing very well. here's another item of news iphone could eliminate the home button which i'm told is that button bottom right there. right in the middle there. going to eliminate that. now what is that? come on jack what's that mean? >> we've had a couple years with changes to the phone but this year with a lot of changes and a sipe cycle for home sales driving stock up now. what will keep the stock at these levels is fact that apple has more and more service revenue quietly rolling in the money people spending each month for storage, music service that's high margin business. >> i love it we own it.
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i think that iphone 8 and upgrade cycle will propl higher. >> 10 to 15% do the math. indeed. >> 180, 190. easily because the stock has been -- has done very well here. and when the harkts sold off a little bit because it was profit taking it never hit any support level where it was questionable. came in buyers came in. they recognize it was value there. now as we hit this cycle i think they'll hit it out of the park. >> dr barton did you own it or plan to own it? where is is the stock price going ? >> yes, we do own it. i think shaw is right. i like a 10% target from here but one other thing. iphone announcements are historically great places to unload some to take some profits because when that big news comes out, they start showing some great numbers it's a seldom news kind of mommy and get a chance to buy it cheaper after that. >> we close it out i want to
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thank jack gentleman please thank you indeed goods stuff. where are we dead flat down 1 point but look at that level please. 21,866 i'm trying to do the math. couple of hundred points away from the all time record high. not bad. new video, just into fox business, this is on texas highway 90, hillary born shot this on her iphone on her way to port arthur we're told is underwater this video is about an hour outside of the city. we're hoping to have hillary in port arthur in 8 -- 11 eastern hour.
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>> where are we 15 minutes in down six i'll call it dead from the now look at the insurers which have an exposure in the state of tk. by the way, accuweather says hurricane harvey will be the most expensive natural disaster in u.s. history. so nicole coming in please give me the big be number. what is it? >> 160 billion dollar stuart he's not even a maybe or could be. i mean, accuweather came out and saddle it will be most expensive natural disaster in u.s. hirings. we have no idea its completely uninhabit haddable at least for weeks maybe for months. this passes both katrina and sandy put together. katrina 80 billion. sandy 36 billion you put them together that's not equate estimates of 160 billion. there are also estimating the effect it will have on our gross domestic product about 3 quarters of one percent. so watch for businesses and
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corporate earnings, labor, whatever, how it will all pan out. in the meantime we're taking a look at insurers which has been down this week over 1% but today they're getting a little bit of an up arrow today so maybe the worst is over for the the isn'tt truers we'll see. >> nfl star j.j. of houston, texas itens raised millions of dollars to harvey victims. how many millions? fng well right now just looking at this twitter feed 5.1 million the new goal for him is 6 million when he began this on sunday he wanted to raise $200,000. it is over $5 million and had big donations along the way. the tennessee titan used to be houston oilers, the team, they donated one million and had houston rockets concluding in a total of four million with cowboys concluding in a million. jay jay watt himself kicking in
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00,000 a story of how people open their wallets to kick in and a it took jay jay watt much loved in houston a defensive end on the field and off the field. >> you know not included that list of corporations donating service, goods, people to get things moving again. >> wal-mart, google, yeah. extraordinary effort. come on in please i want to get to harvey, of course, with his extraordinary story. that gentleman right there is formaller governor of arby the maim of hike huckabee. governor, welcome back to the program. good to see you again. >> great to be with you. >> i don't see harvey or trump's efforts to help texas. >> well i think first of all they would have a hard time finding something to criticize. he's managed this as well as anyone could have done. and secondly has been really a good example of officials at the local state and federal level all working in concert to try to
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deal with a very unmanageable and uncorporative storm. it's easy to bring criticism whether it's to the mayor, governor, the president but the fact is they stood up asset in advance of the storm they immediately deployed those assets they cooperated and importantly stewart, they didn't second guess each other. if you remember back 12 years ago with with katrina, i was in the middle of it and ill tell you something one of the things that made recovery difficult was that you have the mayor, governor, of louisiana, essentially having fights with the truest, and to be fair, the federal government was totally bottle necked and they were so intent on following rules in this kind of situation, you have to bend rules if not break them. you cannot go around asking people to fill out paperwork. you have to have people furs, paperwork second. that's what they've done many this and i don't know what democrats do to condemn although
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hay will find a point to do so. >> a divide emerging here coastal elite an good poem in the rest of the country. i just feel that coastal elites have been lukewarm to texas and louisiana on relief effort is a cultural divide i think it is profound. are you with me on this? >> absolutely i wrote a book called god, gun, grits and gravy that say there are three bubbles in the country new york, washington, hollywood they're out of touch with the rest of the country. they're people in bubbleville, those three bubbles, and people in bubbaville to get their boats out in the middle of houston and go out to rescue their neighbors they put their own lives at risk and not paid to do if these are neighbors help neighbors and it is extraordinary thing to witness. stuart: now president goes to missouri today barn storming for tax cuts he seems to be all over the media. dominating the news, come to they thing the headlines, moving forward with his, with his campaign and his growth agenda.
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what had say you? >> i think it's an important move to show that ep even in amidst of the storm we're doing everything that's humanly possible to try to help victims recover and show the kind of compassion especially for those who have lost lives or o ands. but one of the most important things the president now can do is lead for economic recovery because this is going it have a devastating blow. not just to the gulf coast stuart the impact on everything from energy prices to home -- building materials, it's beginning to be staggering. getting tax relief and tax cuts and tax reform right now is critical to pushing the economy forward and i think president is spot on to go and push this sit down with the leaders of both parties and say guys let's get it done and let me be quick to say if democrat don't cooperate it is time for paul ryan and mitch mcconnell to step up and show spine to get it done anyway for american poem and forget playing nice in washington. >> meeting by the way is next
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wednesday. two -- in thes two two republicans meet with the president next wednesday. thanks for joining us appreciate it as always. thank you. throughout the program today you're going to see inspiring video of rescues and all kinds of how this thing played out. we'll be back. rethink what's possible. rethink your allergy pills. flonase sensimist allergy relief helps block 6 key inflammatory substances with a gentle mist. most allergy pills only block one. and 6 is greater than one. flonase sensimist. ♪ we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be.
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approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind, medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance company come in. like all standardized medicare supplement insurance plans, they could help pay some of what medicare doesn't, saving you in out-of-pocket medical costs. you've learned that taking informed steps along the way really makes a difference later. that's what it means to go long™.
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call now and request this free decision guide. it's full of information on medicare and the range of aarp medicare supplement plans to choose from based on your needs and budget. all plans like these let you choose any doctor or hospital that accepts medicare patients, and there are no network restrictions. unitedhealthcare insurance company has over thirty years experience and the commitment to roll along with you, keeping you on course. so call now and discover how an aarp medicare supplement plan could go long™ for you. these are the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations. plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. remember, medicare doesn't cover everything. the rest is up to you. call now, request your free decision guide
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and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ rntion i have a question about where you put all of those peel whose homes have been destroyed. you can't replace homes short-term where do you put the people? joining us by phone right now is former fema director joe. last time at katrina joe we brought in ten of thousands of trailers what are we gipping to do this time aroundsome? >> well i think what you're going to see damage assessment teams are already in the area. trying to find plots of land. i assume they'll make the recommendation to the president to the director long that we need to have communities built with modular housing that are most efficient put in electrical, all of the water
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everything -- a great time. >> a long, long time. >> sure but u our country can do this. we have over timing. stuart: tens of thousands of people. >> what wore doing individuals have to get registered number one disaster assistance.gov or 1-800-8921 fema. got 60 days to register after you've been affected it that triggers the transitional housing allowance. so if you're staying in -- rental property or hotel or motel, you've got to be registered to get that approval. that will start the flow of cash to allow you to pay for those overnight stays. however long they last. >> i would think a lot of people will leave the area for a considerable length of time. just as they did knolls last word to you. >> yes. they will. they will they'll still be eligible for that housing allowance. whatever they are -- wherever they relocate to but they have to get registered
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stuart. >> oaks. joe i'm terribly sorry we're short of time but we appreciate you being with us today. >> stay tuned. if you missed jeff throbbing coverage and volunteer rescue we have you covered. [inaudible conversations]
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stuart: it was inspiring, ordinary americans came to the rescue. four rains of terrain texas hoped for some relief but it was not to be, flood waters kept on rising and when a reservoir spilled over another area was suddenly under water, in came the citizens navy and our own jeff flock was there to show in live tv what americans can do for each other, it was inspiring, a local pastor pushing a boat, picking up whomever he could and she was grateful, get that, she was grateful to rescuers, when was
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the last time you saw hard-felt gratitude. america's worst natural disaster developed, volunteers appeared by the thousand, they came from all over. no one told them to go, nobody organized the effort, they just showed up with their boats and went looking for people in need of a ride to safety. it's not over. harvey has made landfall again, terrain has shifted east, now they need boats on the texas louisiana state line, 26-inches of rain fell in the be beaumont-port arthur area. is there any doubt that the volunteered navy will be out in force again? i think it's worth pointing the difference between elites and ordinary people. the media was sniping at melania's shoes, this morning the media is sniping at the president, he keep it is focus on himself says the washington post. enough, texas and now louisiana show america at its best, bring that picture up full, please,
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because that's who we are and we like what we see. the second hour of varney & company is about to begin. ♪ ♪ >> i waited so long and my kids -- i mean, thank to them that showed up because i didn't know who to call and i don't know if it was going to be too late and it was an angel, i mean, yes. stuart: that was some of the amazing sound and video from our own jeff flock as he road along with the volunteers rescuing people in houston and he joins us now from richmond, texas, that is near houston, jeff, now what do you have? jeff: it was -- stuart, some days you just assume to stay home and sleep as oppose to go to work. yesterday one of those day that
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is you were really glad that you were out there to witness just what you said, you hit the nail right on the head. the floods don't know democrats or republicans, they don't know native born or from some other country, they don't know conservative or liberal n. that neighborhood, fairly well-heeled neighborhood in richmond, maybe you see that's where a lot of folks live in richmond, as i said, they don't know rich, they don't know poor, everybody is in a flood and i hate to say that we needed a hurricane to bring us altogether but maybe they did. this is under mandatory evacuation, by the way and they are charging residents if you go back in mandatory evacuation area in your house, $500, you're not going to go back in? >> no, i don't have $500 to go back in. jeff: how long have they told you -- the reason we are here is because the flood waters are coming dune the brazos river. >> yeah, because the ain't got
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nothing to do with that no more. you have water coming from up there and the river is going to go out, last year we were right here and it was supposed to be higher. jeff: what are you going to do? >> we are leaving in a motel right now. jeff: how long can you stay there? >> we paid up till sunday, hopefully -- jeff: months? >> that's one thing i don't know. yeah. jeff: i appreciate. your place back here. >> we still have kicked out. it was mandatory there. we live up there, hopefully it'll -- i feel sorry for these people. last year and now again for sure the way it is. jeff: i leave you with this note, stuart, we are talking the flood waters could be up for, a guy yesterday said the flood control in harris county said till october. i can't fathom it. that volunteer spirit that you're talking about, we may need a whole lot more of that. stuart: yes, sir, jeff flock right there.
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flood until october in some parts. we heard you earlier. all right, jeff, we will be back shortly. now, i want to bring in congressman pete olson, he represents texas 22nd congressional district which is just outside of houston. congressman, the rain has stopped in your area, we believe, but i think you are still in rescue mode, is that accurate, sir? >> yes, sir, we are still as full rescue mode but stuart, i have to expand upon your comments upon the volunteer navy here in texas, true story, this past monday a senior citizen couple, their house was flooding, they had to be evacuated and the husband caught chick-fil-a restaurant, one hour later, his order was fulfilled. a boat showed up at his house with chick-fil-a to take possession. that's the spirit happening all over the state right now.
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stuart: absolutely wonderful. sir, it was inspiring and that is a fact. but i have to ask a serious question now. >> yes, sir, yeah. stuart: what do you need, what do you still need right where you are right now? >> stuart, as you know, harvey has left but given us amount of water, we 51.8-inches of rain, highest level in history, we are getting over that because the amazing first responders and volunteers, they attacked with don't mess with texas attitude, the river half a mile from my home, i checked this morning, it's yet to cross base. it may do that, it may not. what we need right now is common sense. be prepared. stay at home. this won't be the catastrophic flood like -- it may happen, it may not but stay at home right now, be prepared and when this thing is done probably next day or so, we will switch to full
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recovery mode. >> congressman, thank you very much for joining us, we appreciate it, sir. >> thank you, stuart. stuart: another tweet coming from the president, here it is, i'm quoting now, we will be leaving for missouri soon for a speech on tax cuts and tax reform, so badly needed, end quote. much more on that as we go through the program. now, then there's -- there's also this for you, president trump will be meeting with top four congressional leaders next week at the white house, they are going to talk about getting the agenda done next month, those are the top four two democrats, two republicans will meet with the president on wednesday. look who is here right here in new york city right now, senator mike lee, republican from utah and author of the book, written out of history, the forgotten founders who fought big government. senator, mr. senator, welcome to the program. >> thank you very much. stuart: extremely tough legislative schedule, you to
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pack all kinds of stuff in. i don't think you can get it all in, will you get tax cuts in? >> i think we will because we have to. the american people elected us expecting us to repeal obamacare and bring about tax reform. we haven't repealed obamacare. if we don't get tax reform done, we are dead. we might as well flip up our tent and go home. stuart: now you have the problem of harvey relief. does that come first in a separate bill, separate from the budget? >> that's not clear yet. nor is it clear what's happening in the front generally. what i do know is we've got a certain amount of time to get a lot of things done and we need to get to work. stuart: we must get tax cuts done. what goes. any chance of a reforming obamacare, presumably that's gone, what about the infrastructure plan, does that get cut into because the priority is tax cuts? >> i don't know. i still haven't seen an infrastructure proposal. i'm still curious about what that would look like. what we do know is we have the highest corporate tax rate in the developed world.
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the corporate tax rate while it's something that a lot of people think being born by big wealthy corporate fat cats, in fact, comes off of the bottom line of poor and middle-class americans and have diminished wages and underemployment as a result of high corporate tax rate. stuart: what do you want to hear, what do you want to hear from him? >> what i want to hear is that he has an ongoing commitment which i know he does to bring meaningful tax reform, outline to work with congress to make sure this gets done. look, the president is all for this. stuart: do you want details from the president? >> sure, absolutely. i would love to get as much details as he's willing to offer. and those details really do have to be passed into law by the congress. so we've got to get to work and actually pass it. stuart: i know you'd want tax reform across the board, i know it, but what you're likely to get is tax cuts for individuals
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and tax cuts to corporations. >> sure. >> that's what tax reform is, as you do that, if you can simplify the tax code, that's good for the american people, it may be bad for a handful of lobbyists and accountants and lawyers and compliance specialists but it's good for the american people if we can simplify the code. stuart: as a newly minted american citizen, would you tell me what your book is about? >> yes, a few figures in american history who have been neglected or written out of history, a founding mother, mombet was a slave in colonial massachusetts who fought for and her won freedom in court shortly after the revolution, after she learned that a provision of the massachusetts constitution written by john adams, included a provision original drafted in her master's home, all people are free and equal, she went to court and fought for freedom.
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she started a movement that led to the abolish of freedom, she doesn't fit our modern narrative. stuart: new comers to america have a lot to learn, i should get your book and read id. >> please do. stuart: unless you want to give me one. thank you, sir. shameless. thank you, senator. [laughter] stuart: harvey could be, wait for it, the most expensive natural disaster in mesh history, the latest estimate close to $160 billion. later this hour, doug si negotiation al. and the -- siegal. and houston police tracking down looters. second hour of varney & company that can be really serious... especially for my precious new grandchild.
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it's whooping cough. every family member, including those around new babies, should talk to their doctor or pharmacist about getting vaccinated.
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start stuart dead flat, the dow industrials is down 10 points as we speak. the -- look at that, more losers than winners among the dow 30. now, this, parts of eastern texas including port arthur, house of big refinery, they are getting slammed with terrain as of right now. come on in, janice dean, what's the danger zone located as well as rainfall totals? janice: rainfalls totals are still what they were, we have not updated but we surpassed the 52-inch mark. the record biggest rainfall in u.s. history and make sure you get the update, stuart, as that comes to us. southeast texas, louisiana, mississippi, alabama, florida panhandle, the scope of this is quite large as the system eventually starts to move north to east ward between the next 12 to 18 hours, for places like
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houston, texas, the rivers, the bayous are at or above record and will remain that way way past the labor day weekend. any more rain is not going to be a good situation. finally, we will see the lift up to the ohio and tennessee river valley later this week and into the weekend. we are still dealing with some cases over a foot of rainfall for parts of person louisiana even towards mississippi, alabama, the florida panhandle, tennessee and kentucky are going to get in on the harvey. as of 11:00 a.m. the national hurricane center is going to start issuing advisories, tropical storm irma, we will have a major hurricane on our hands as potentially effect the gulf of mexico, caribbean and bahamas, i know it's peak
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season, we have to watch this next one for next week. stuart: janice, you were dead right about harvey. i'm hoping your dead wrong about irma. janice, thank you very much as always. >> okay, stuart. stuart: tempted looting in the wake of harvey and there was actual looting, texas authorities with zero tolf the great state of texas. ken, what do we have here, 14tit also it's actually pretty difficult to loot these days because there's so much water that's making harder for the looters to do what they're trying to do. stuart: unless they go around boat, i guess. curfew, you put that into effect last night in houston.
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crack down in armed robbery and looting. how did that go? >> it was put by the city of houston and the county, i think it went pretty well. pretty good idea that it's hard for law enforcement to focus on that given that there's still focusing on rescuing six days later. >> you aren't allowed to do that legally, is there a challenge to that? >> we have never been challenged on it. it's common when we have the type of situations or we are trying to protect the citizens. stuart: earlier this week you told us about cracking down on price gouging, how is that going and have you seen any more cases since the original crack-down, did the crack-down work? >> absolutely. the num information, prohibited, price gouging, we've had hotels charging seven or
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eight times what they're supposed to of normal rate, food places charging five times for bread, water being charged $100 a case, we've had example after example, those are coming down, we believe. stuart: what about gas station owner who has got his or her tanks fully full and then they realized that there's heavy demand and they put the price up 5 or 10 cents a gallon. is that gouging or taking advantage of the supply and demand situation? >> it's a balance here. we are not going to go that somebody has reasonable price increase specially when gas prices are going up. we will go up to somebody charging $20 a gallon which we had an example recently. 5 or 10 cents of gallon not unreasonable. we are looking over anything 10%. we will start looking at all variables. but if you start $20 a gallon,
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that's price gouging. stuart: thank you very much. that could hamper fuel supplies across the country. the price of gas is already going up. we will have the full story for you.
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stuart: first look at the situation in port arthur, which by the way received 26-inch of rain overnight. the video from right outside the city, fox news channel max, the mayor this morning said the city itself is under water and they have no way of getting to stranded residents. our own hillary vaughn will join
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us in next hour. look at that. now look at the price of the wholesale price of gas, it's now up to a buck 91, this is what the wholesalers pay. a spike, 7% higher. that's indication of what you will be paying at the pump. this is an indication of what you're paying at the pump now, now national average 2.40 per gallon, that is up over 2 cents overnight. i want to get to more information on this pipeline that links the texas gulf coast and the eastern sea board. >> that's why gas futures are up more than two-year high, tracking the story for you. here is the story, it's reduced capacity because flooding in two facilities in pasadena and bayou and talk now, 35 cents spike higher in gas in certain regions of the country as we head into the labor day weekend.
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also jet fuel, major pipeline for all of the major airports on the east coast including new york city, pipeline that hooks into it. stuart: forecast 35 cents per gallon up comes from where? >> gasbuddy and oil analysts are forecasting 40 cents. basically watching what happened after katrina, katrina gas prices spiked by 40% and in newark area went up by a buck. stuart: i don't see people hording gas, not yet. we have the report, we will see what happens. ashley: yes. stuart: water completely overtaking a freeway in texas, not just any old freeway, interstate 10, major highway, there's a white caps you're
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seeing, white caps you're seeing under water on highway 10. 13,000 people rescued and texas in rescue mode. those water pose dangerous health risk to anyone in the water, the threat of disease, all details on that for you coming up next it's time to rethink what's possible. rethink the experience. rethink your allergy pills. flonase sensimist allergy relief uses unique mistpro technology and helps block 6 key inflammatory substances with a gentle mist. most allergy pills only block one. and 6 is greater than one. rethink your allergy relief. flonase sensimist. ♪
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approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind, medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance company come in. like all standardized medicare supplement insurance plans, they could help pay some of what medicare doesn't, saving you in out-of-pocket medical costs. you've learned that taking informed steps
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along the way really makes a difference later. that's what it means to go long™. call now and request this free decision guide. it's full of information on medicare and the range of aarp medicare supplement plans to choose from based on your needs and budget. all plans like these let you choose any doctor or hospital that accepts medicare patients, and there are no network restrictions. unitedhealthcare insurance company has over thirty years experience and the commitment to roll along with you, keeping you on course. so call now and discover how an aarp medicare supplement plan could go long™ for you. these are the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations. plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. remember, medicare doesn't cover everything.
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the rest is up to you. call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ stuart: pretty much flat market, here is the backdrop to today's market action. first thing this morning, president trump came out with a tweet about north korea. it was a very hard-line tweet and initially stock prices went down because of that tweet. then we've got news that the economy was expanding at annual rate of 3% in the second quarter, we've not been there for quite a long time but 3% it is. and now the number on harvey,
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the damage estimate is $160 billion. that's the backdrop and maybe that's why we have a break-even market, just up 4 points but 21,870, that's where we are, by the way, that's a couple of hundred points from the all-time record high. now we've got the latest on oil numbers for you, how much oil we've got in storage, how much we actually use, oil first, liz. >> down 5.1939-barrels. taken out of inventory. you don't see oil really moving because u.s. oil production is nearing record highs, it's now 9.5 billion-barrels a day, near the 2015 highs of 9.6 million-barrels a day. stuart: there's a glut of oil but not refined gasoline. ashley: up 35,000-barrels which is considerably less which was
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expected but still on the positive side, 748,000. stuart: depends where you can get the supply. ashley: correct. stuart: where can you get it to. that's the point. we've got the oil, we have the gas numbers, let's get back to harvey, i want to bring in lieutenant governor of texas dan patrick, sir, welcome back. great to have you again, sir. the rain has stopped in houston, port arthur is getting and you're not yet done with the rescue operation, in houston, that volunteers, hundreds and hundreds of ships, it's been incredible, stuart, i went out
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with a rescue truck and picked up 33 people, a group of volunteers so it's been close to 4500 to 5,000 people rescueed. stuart: that's the spirit of america, that's ordinary americans helping each other, you have a desperate need in houston, here comes the navy, volunteered navy, we were covering it all day long. that was truly inspirational, i think you felt the same way. >> yes, sir, i ran into a young man, 25 year's old man who bought army truck in fort hood to help in floods like this and he and his friends, they put together a network through facebook and a couple of boats and they were going out in areas, areas where no one could go because they had the 5-ton truck and that's a small example, repeated hundreds of times over. i said, i think maybe on your show the other day when i called in because i couldn't get to a studio was you see the movie
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dunkirk, well, we've had our own dunkirk in terms of the flotilla people showing up, driving from states all around. some guy brought a boat from atlanta, people coming from louisiana, the cajun navy, i think i told you on the phone, we are one texas, there's no republicans or democrats, no moderates, black, white and brown, it's texan helping texans, we are all in this together and when we get to the recovery phase and we talk to the president and i was in corpus and austin, we cannot be less than candid, this is a long road back, years in some cases and in some neighborhoods, hundreds of thousands of homes and businesses have to be rebuilt, hundreds of thousands of people have been displaced.
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this is going to be a long road back. the biggest disaster, natural disaster probably in history of this country. stuart: i would take issue with your assertion that this is now one america. there's a cultural divide in america, i think the coastal elites look down on you, i don't think they appreciate what's going on in texas at this moment. >> well, stuart, i think i said, i hope one america because we are one texas. there's no question, we are one texas pulling together and i want to thank people from all over the country, all over texas who have helped us, keep give to samaritan, redcross.org, so many families have lost everything. a lot of homes, my own friends and folks that i know personally who never thought in their life would flood have been flooded out. one of our friends was flooded out of her home and went to son's home and he had to leave because he was flooded out. a lot of people don't have flood insurance. when you see them rescued, the only thing they have left, the
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only possession is what they have on their back and their backpack or what they're carrying under their arm, that's it. let me tell you what, the president did a great job here yesterday. governor abbott and i both agree the federal government is just -- they've been like that. before, ahead of it, brock, fema director has been doing a fantastic job, we have a long, long road ahead. right now my friend ken paxton was with you a moment ago, looting will be a party and the neighborhoods are empty, more national guard coming in. we called out 12,000, we expect thousands from around the country. we will not put up with looters and not put up with price gouging, that's not part of the texas we are and we will clamp down on that and protect people's property after we protect their lives. stuart: i don't know how you do it pop up, thank you very much, lieutenant governor dan patrick. we appreciate this, thank you, sir. >> i appreciate you, stuart. stuart: got it. all right.
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let's bring in dr. mark siegal. i want to take a look at the health risks, there's dangerous territory, water-borne diseases that you can catch from the water, right, doctor, spell it out for us. >> the first issue is how people are afraid, when you worry and panic then you bang into things and you don't take precautions, calm helps a lot. the temperatures are going to go up in the days, 74 in houston right now but they are predicting low 90's, guess what happens, if you can't find the water supply you get dehydration, in terms of what's lurking in the waters, the waters get contaminated, you end up with back -- bacteria like e. coli and you don't get to the
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care that you need because it's cut off. the hospital, some of them are open but you may not be able to reach them. the supply line, people with chronic conditions, do they have social security to medications and the care they are used to, many don't. stuart: doctor, just a second ago on the left-hand side of the screen, colonies of fire ants which are being displaced by the water, of course, there's the ever present danger of snakes which come up to the surface and they've got to get around. snakebites, fire ants, they're pretty dramatic things, aren't they? >> you left out alligators which is another possibility and also wounding yourself by banging into things. everyone in that area needs a tetnus shot if they haven't had one in ten years. that's another issue. the issue are you going to get injured and who is going to take care of you. pharmacies, 2,000 are open. calling public health disaster the way secretary price did was
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very wise. stuart: okay. >> a lot of psychological issues here, long-term, post traumatic stress. lieutenant governor was talking about how this is a long-term proposition, it's going to be a long-term proposition to bring this area back to its health. stuart: your best advice for people stuck in the flood waters is be careful, don't bump into things, don't touch the water if you can avoid it and don't swallow it. >> you have to win portable water, boil water that you have question about and if you're trying to clean up, use clorox. stuart: well said. >> may seem like common sense but it isn't always, stuart. stuart: dr. mark siegal, got it. this is relate today harvey, best buy is apologizing for price gouging during the storm. best buy raised the price of
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bottled water, was it? ashley: yeah, this happened last friday. the storm was coming in. the social media lit up because of someone taking this picture and showing $42 for a case of desani water, anywhere 10 to 25 bucks. best buy said it was a big mistake. stuart: 25 bucks. >> it wasn't $42. best buy said what happened was they don't sell water but they were going to put it in the store and employee decided to take the bottle and multiply by the number of bottles in there giving absolutely no discount for the case. they said their systems don't have -- there's no price system in place for water so they immediately realized what the mistake was and rectified it but then it was already out in social media and they were accused of price gouging, they apologized profuse i will saying it was a huge mistake and
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happened on that particular friday. stuart: good example of social media doing well. ashley: absolutely. stuart: absolutely. >> better than talking to melania's shoes, she changed into sneakers. ridiculous. stuart: president trump in texas yesterday. he promised costly federal aid but where is the left's support for this, it's a good question to ask, stay tune on fox business, i will be in for lou dobbs. i will be there for you. 7:00 o'clock
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ashley: the last hour we asked congressman of texas and he said now is the time to act quickly and not get political. roll tape. >> well, i think there needs to be a separate bill, we don't need to get political with this. we need to act as quick as we can and make a clean separate bill and help as of this people that are in dire need of assistance right now. stuart: criticism of a relief of super storm sandy was that it was loaded up like a christmas trees, you're not going to do that with this bill to help harvey, right? >> well, i hope not. i mean, that was one of the reasons that -- that sandy
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failed and i didn't vote for it because it had unrelated things involved in it. let's get a clean bill, down payment down there and when we get back begin the process. it's a tragedy down here, stuart and we need to act quickly r. ring a bell? then you have to try always discreet. i didn't think protection this thin could work. but the super absorbent core turns liquid to gel. for incredible protection... ...that's surprisingly thin. so it's out of sight... ...and out of mind. always discreet. for bladder leaks. also in liners. attention homeowners age 62 and older... dr.ben carson, the secretary of housing and urban development recently affirmed his commitment to the reverse mortgage program. "last year, hud proposed a new regulation that would make some improvements and strengthen the program" said carson. improvements include spouse protection;
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trump keeps the focus on himself, really? joining us now jason chaffetz, former utah congressman and fox news contributor, they will do anything to go after president trump regardless of the circumstance? >> they are going after his wife's shoes. the headlines -- you know what, i have experiences when i was chief of staff to the governor, i've seen it when a president shows up, it inspires a lot of people, they are going through the most difficult times, they want to know that somebody has got their back and i thought that the president was pitch perfect, i think he did just the right thing for the right amount of time, he didn't stay, he didn't linger and didn't take a lot of other assets. cheap shot. stuart: there's a cultural divide in america and it's showing up now. the coastal elites really are contemptuous of the people of texas, that's my opinion, what say you? >> yeah, even without the flooding there's a contempt for central middle america and certainly for texas.
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stuart: absolutely. >> texas strong, the attitude, the approach, the inspiration -- stuart: successful. >> i can't fathom how big and how catastrophic this is and how it's going to linger for sometime. i'm glad to hear that the president is going back, secretary price has been down there, you have governor perry obviously with his heart in texas, i think they are doing all that they can at this point. but fema tends to fall down on its face usually in the weeks afterwards, that's what i'm worried about. stuart: okay, how about the left, the democrats? i haven't heard much from them about helping houston? >> i haven't either. it's been kind of radio silent, i just have -- i hope that's not true, we will see how that plays out. what's really going to come to head in the congress in september when they have to get through a lot of waiting things, how are they going to deal with the funding because it's going to be tens of billions of dollars. >> is it going to be a separate bill, are they going to try to
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rapid into the budget, i don't know how you could do that? >> congressman roger williams was on earlier and was talking about the idea, look, we need to have a separate bill but as we saw with sandy and others, let's ride this train but they shouldn't mess with it, it should be own separate funding and would sail through and would be unanimous and send the country a great message. stuart: one more thing the congress has to do on top of a budget, a debt ceiling, a tax cut and obamacare, the whole raft of things. >> i hope what you see is that speaker ryan and kevin mccarthy majority leader prioritize as job one, get done first and deal with the more waity issue. they will try to ride the train of emotion to get debt ceiling and get things passed. i worry that we have seen this movie before. stuart: what's your priority, something has to give, you're not going to get everything done
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before the end of the year, something has got to give, what goes out, is it tax cuts because the president is barn storming for that today? >> the different between tax cuts and tax reform, i'm still putting my weight on tax reform. i want -- i want tax cuts, it doesn't happen by the end of september, it should have happened before the august recess, nevertheless, by the december hopefully -- i'm trying to be internal optimist, stuart. stuart: it has to be by tend of the year, that way the cut is back dated to january the first and next april 15th we got -- a lot of people will get a nice tax refund. you have to do it. >> president trump's mandate when he was elected is to drive this economy forward and it's the number one thing they can do to spur economic activity. stuart: you're with me on this? >> i am. i think it's actually going to happen. stuart: you do? >> i'm internal optimist. i'm not giving up yet. stuart: we will take that. mr. or honorable.
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>> call me jason. i will probably turn around if you say jason. [laughter] stuart: all right, breaking news about levee that could be breached near houston, lizzie. >> the third reservoir that's danger op topping, it has eroded and cypress creek, we know the reservoir had topped out. the third levee now topping out. there is a voluntary evacuation in other areas, authorities have said, tweeted get out now, whenever there's a levee situation that's in danger of breaching. stuart: could be breached. there's danger right there. >> that is correct. stuart: got it. beaumont, texas got 26-inches of rain overnight. how do you deal with that? well, we've got on official on the line shortly from beaumont to tell us what's happening, under water, we believe, back in
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water everywhere, now that it's daylight the rescues i'm assuming can resume; is that right? >> that is correct. we have resumed rescue operations out into the rural areas of jefferson county to get those citizens that are being affected by the flood waters out of their homes and to dry ground. ashley: how would you describe the situation right now? >> well, we are trying to do the best job we can with the assets we have, we have a number of volunteers come in with low-draft boats to assist us in getting individuals out and right now we seem to be doing quite well. ashley: deputy, what advice are you giving to people, i imagine you can't get to every emergency call right away. >> yes, we still have individuals coming into the area even though all of our major highways are shut down, they're
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flooded, they're covered with water, there's still coming in but we have, are finding certain areas where we can stage them and launch them into the waters by those highways to get to the residents where we need to put them. >> what are you being told about the situation? is the water going to continue to rise, is there any light at the end of the tunnel? >> there's going to be a light at the end of the tunnel but we still have some bayou's that are getting water from up north that come down because we are right by the gulf of mexico, they're going to come down and bring down water levels, a few more feet but hopefully they can go down quite soon now that tropical storm harvey has passed us by. ashley: thank you so much. we wish you the best of luck to taking the type, deputy marcus mclellan north of port arthur, as we heard the area overrun
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with flood waters. stuart: i was listening, sounds like the volunteered navy has arrived in a small force. ashley: the cajun navy. remarkable. stuart: what a story that is. it reminds me of dunkirk. ashley: yes. stuart: private small boats, pleasure boats going over picking them up and bringing them back. it's a great story. ashley: inspirational. yeah. stuart: next hillary vaunghn still trying to get to port arthur, the mayor there say it is whole city is under water. 911 calls flooding in, no way to help the citizens. we are on that story and it's io next.
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mech where are the democrats the
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gulf coast faces disaster we haven't heard much from senator schumer or nancy pelosi or tom perez or bernie sanders. or bill clinton or hillary clinton. president trump is dominating the news in a positive way he focused on helping texas he recognized the in inspiring navy. today he is off to missouri. he is out front leading the charge for his growth agenda. he goes back to texas as we can. he is leading. the media is reduced to that about the first ladies shoes. that is pathetic. donald trump is a live action take charge those qualities are valuable and at times like this our president should get the
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full support of all americans. the third hour of bernie and company is about to begin. the first images coming from as from outside port arthur texas. it received 26 inches of rain in just the last 24 hours. the video you are seeing is from about 10 miles out of that city. we are trying to get a reporter into that city. you can expect with the road surface like that 10 miles out we are can have its underwater. in houston where it's home to thousands of people i think you
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are correct. they had registered as of last night. they thought they would only had 5,000 here. some other folks are going to two other mega shelters. they have opened those over the last two days. in addition to the little neighborhood shelters is that they are setting up. that is a scene all across texas. they're more there are more than 302000 and becky wheeze across the state run by the red cross. you mention this storm is indeed heading east. the red cross is now opened three more soldiers in louisiana because it is now with their misery and they are to be facing things like this one. folks are getting in and out today. we have not seen it today. it's a first date that we have seen sunshine. folks are moving in and out of
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it. they will be able to get to dry spaces. the roads much clearer today. >> i am not there i am in new york you're there. it seems to me even from this distance that this relief effort as much business --dash mike better organized than the relief effort from katrina. i remember just shoving water up folks that were walking up and down the street. they can get anywhere. they didn't have hotel rooms. some people were sweet sleeping in their car. here it is much more organized the federal government and the state and local folks learned so much and they had been able to keep the death toll down. i will show you this is what we've got going here. take a look at some of these. these are the volunteers the mountain of close that walmart dropped off three large semi trucks yesterday. you see linens and close. this is incredibly different scene from katrina.
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thank you for bringing that to us. a very interesting step. i want to talk about the absolute flat out financial impact we are beginning to. sandra smith is with us. welcome back. good to see you again. i'm talking about the immediate financial impact on the rest of america i see it in rising gas prices cities like chicago our already experiencing the sharp increases. the states that will feel of the most are obvious they going to be texas and louisiana. that is a wholesale price of gas. you used to trade the stuff in chicago. as far as the price that your pain at the pump it has already gone always the gone up over the past week.
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right now the market is trying to ask figure out the extent of the damage. how much mart refining capacity is gonna come off-line. right now it is off 23 percent. a quarter of refining capacity. by some estimates analysts are saying the price at the pump at the national average could drop about 35 cents. i want an update at the pipeline because that is what supply gasoline to the eastern seaboard. there is a reduced amount of fuel on it. because of the reduced capacity. and so they are having trouble into facilities. it also supplies jet fuel to all of that major airports and diesel as well. we are talking 35 cents in certain regions. we know after katrina we saw 40 cents. the new york area sought 1 dollar spike higher in gas.
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it is all dependent on the delivery and a different spot checks where gas prices will go up. it has a financial impact on all of us from this catastrophe on the gulf coast. no impact on the stock market that i can see right now. the market is focused on tax reform interest rates are still low. government shutdown. the market. this is closer to you. 230 eastern time. this is the beginning of the two are to that tax reform. there is a huge job to do. there has been a very aggressive timeline. come october and november.
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you might see a market there. i believe blake burman is live from missouri. what do you head for us. expect a why not how speech from the president today. they have either heard from or spoken with. and the winning formula that the white house sees they need to get rid of loopholes. the need to have tax cuts to raise pay that is what the white house feels is a winning message and as what your can hear from president trump on this day. here in southwest missouri. if you are wondering what we are
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doing in springfield missouri and why the president is coming here this of course is off of route 66. that is part of the message from the president today. they are taking this directly to the average american family and trying to explain why tax reform is going to be like that. >> gary cohn kind of hit on some financial specifics. it should completely revolve around tax reform. with the exception of a charitable mortgage in retirement eliminating the death and estate taxes. as low as possible.
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they will sell the whole idea of stimulating us. it's what best in small businesses. just hearing that you still get that. alright everybody. now look at this. broke rescues. rescuing people on jet skis. we are also going to be joined by the man who opened his furniture store. so do i.
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a point to six. it's all coming up.
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now what you are looking at is flooding on the way to port arthur. this video was taken moments ago. the news from port arthur port arthur is that it is underwater hits about a few miles out of the city. it received 26 inches of rain overnight and that is the results. we are trying to get into the city is going to be very difficult clearly a rescue operation. it is in need right there.
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where are you. we are in port arthur and it really feels like a war zone. you can see some animals being rescued onto this truck right now we had choppers up above and we have countless boats in the water heading out to the flood zone and returning with boatloads of people. some people who are not close properly. shivering. this is what we are seeing right now. it is a calamity and a disaster it feels apocalyptic. we had watched as collis people have come in off of these boats this is a launch point at this point in town this is one of the higher elevations this is the staging area for the boats to take out into water and then return with people. you can see family members with dogs these people are being
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rapidly rescued. this is a town of about 55,000 people. likely everyone is affected. we spoke to him a little while ago. he has been volunteering for a while. the majority of these workers right now our volunteers. the county sent out an sos just a short while ago anybody with a boat please come on so now we are seeing people from around the area rush in here with the boat. on her way in here we got stuck in traffic. of people with their boats. these are humans helping humans and based on what we are seeing those getting off the boats. it seems like they were rapidly taken out from their homes.
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thank you very much indeed. i believe you are just on the outskirts of port arthur there. that town was hit with 26 inches of rain overnight we are just getting to see the first full effects. met i will wrap it up with this. you just told us that everybody in that city and in town 55,000 people we just got here moments ago. i said how may people live here. and he said 55,000. i said, people are affected. we are seeing a ton of pets. we are seeing elderly people. this poor woman sitting here in a t-shirt and no shoes. there is a gentleman without a short. these people look like they had been rushed out of their homes.
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we see that video there which is truly extraordinary. i want to switch gears just a little i want to richmond texas jeff flock is there. i see him wading through water as we speak. is the water rising still where you are now. they are concerned that they will get three more feet. the only way you can get in to the river's edge rivers edge community which is back there behind me you only get in on foot. and this is where they think they're going to get three more feet which is all this floodwater from houston coming down the river and rising the river level by as much as 4 feet i will be curious to see what that looks like.
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in the middle of it. i'm reminded of what they were showing just moments ago the first person into this surrounding area of beaumont texas there is this scenes related again for you. 55,000 people in that town inundated by 26 inches of water overnight that is rainfall we don't know that there are 55,000 people that had to get out. all of them will be affected. and look at those people just coming out with the pets and animals. for those to go in and get that. from as far away as louisiana and beyond. it is heartbreaking to see it.
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those people left with very little. they just head to get out. they know a thing or two about refineries. john, i hope you saw that video coming out of port arthur texas which is home to a couple of the biggest refineries in america if you get 26 inches of rain on a refinery i have to believe that it takes a while to get back on stream is that right. it will take a while because water is the enemy of a refinery. if to protect the safety at all costs. and you have to have people who are there to protect and make decisions. to shut it down to give it the staff time to figure out if they can take care of their family and home.
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when you where the president of shell america and shell oil. did you have a direct experience with this kind of weather event. including port arthur. it was shut down for two months at this time. we were deciding when we are putting it all back together. we parted that facility. your 12 to 15 feet above ground. in terms of operating there are only certain things you can do just a moment ago we head on our screen the futures price of
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gasoline. it's up to the dollar 91. up to about 12 cents. was up 11 cents. do you think that could probably go up some more. depends on how long are the refineries shut in. that will be variable depending on how hard they were protected beforehand. we don't know if the columbia pipeline that brings it all up to the east coast. if that problem is severe in the columbia pipeline is shut down for part of a week or ten days or however long that will create another aggravating problem which will increase the price. in traders are anticipating what the demand will be like. and maybe when they see that video of port arthur maybe the price goes up some more.
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that could be. i am afraid i've got to run. with so much to pack in today. thank you for being with us. i want the latest on the path of the storm. where is the danger zone now. it's almost out of the last ban of the storm system it continues to move north and eastward. finally moving after all of these days of not budging very much. we are dealing with the potential of heavy rainfall. parts of louisiana, mississippi. anywhere from four to six. maybe a foot of rainfall the good news now. the storm is finally moving. additional rainfall over the next several days. out of texas into louisiana. the gulf coast here. if i could we are watching the
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computer models for next week and i just want to warn folks i don't want to freak people out but we are watching the potential for a tropical system to develop tropical system to develop next week. there is nothing i can show you right now to show you that potential system the models are just starting to pick up on this. be prepared there could be more potential rain in the forecast a week from today from another potential system. about an hour ago you are with us and you are warning about the possibility of irma that would be along the atlantic coast. this is an area of low pressure we are starting to look at.
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it could potentially develop tuesday and wednesday of next week. i don't have a map to show you right now. i am just warning folks that potentially we could have more rain in the forecast as we head into next week and we will keep you posted. here's what we are talking about. the national hurricane center has already issued a cone of uncertainty. as we get into next week the potential for a very strong hurricane to affect the caribbean the bottom line is i need everybody to pay attention to their local forecast we will certainly keep you up-to-date. it will be a busy next few weeks. good step. what can you say to that. i jampacked our here it comes. we are only halfway through. the houston police chief is
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going to join us. plus two of the everyday heroes join us on the left. the man who organized ski rescues on the right the man who opened his mattress store to evacuees both are with us. and right now we have no reaction on the market to harvey was virtually dead flat. the price of gas that you have to really watch. we are back in a moment. potsch: you each drive a ford pickup, right? (in unison) russ, leland, gary: yes. gary: i have a ford f-150. michael: i've always been a ford guy. potsch: then i have a real treat for you today. michael: awesome. potsch: i'm going to show you a next generation pickup. michael: let's do this. potsch: this new truck now has a cornerstep built right into the bumper. gary: super cool. potsch: the bed is made of high-strength steel, which is less susceptible to punctures than aluminum. jim: aluminum is great for a lot of things, but maybe not the bed of a truck. potsch: and best of all, this new truck is actually-
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gary: (all laughing) oh my... potsch: the current chevy silverado. gary: i'm speechless. gary: this puts my ford truck to shame. james: i'll tell you, i might be a chevy guy now. (laughing)
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stuart: what you're looking at affects you. right-hand side of the screen. $1.91. that is the wholesale price of gasoline. not the price at the pump. that's the wholesale price. what you're going to be paying soon. it's up 13 cents from yesterday's close. that's a 7% gain. that is a spike, and it's happening because the pipeline that feeds gas from texas to the northeast is down or certainly restricted in capacity and 14 refineries are not producing gas the way they used to. watch out. here comes a gas price spike. on the phone with us now. we have jim macenveil. i'm going to call this man a hero.
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he has turned his stores in houston into shelters. well done. tell us what you did. >> yeah, stuart, on sunday when the hurricane and torrential flooding got worse, we decided to put out a facebook post that gallery furniture would become a shelter as we had during hurricane katrina for the new orleans vac evacuees, so we had 400 come out and took our 24-foot box trucks and -- stuart: wait, you went out in your trucks, you picked them up and brought them back and put them on your mattresses? >> we put them on our mattresses, our sofas, and our recliners. and we did it at both stores. so we had 400 people both nights at our stores. we did what we thought was the right thing, reaching out and helping these citizens. stuart: jim, one thing that hit me yesterday when we saw one of the victims being rescued, one lady in particular was grateful.
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she expressed real gratitude to the people who had rescued her, to the people who helped her. do you get the same gratitude to the people that you're helping in your furniture stores? >> absolutely. the attitude of these people is -- the horrific experience that they've been through, it's uplifting to be in the furniture store. i just met a lady who was 80 years old, she spent her birthday, monday in our furniture store by herself because we had gone and rescued her from the four foot of water in her house. a lot of heart-breaking stories out there, but it shows the resilience of human spirit. stuart: yes, sir, it does. jim, you're the man keep it up. thank you. >> thank you, stuart. have a good day. stuart: yes, sir. now this. president trump's heading to missouri to push tax reform. we're joining congressman pete of the tax sub committee in congress. i think you need -- i want to
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ask you about the money that we want to direct to recover from harvey. is that money, that request for money from the government going to get in the way of tax cuts? >> i don't think. i think what will end up happening, stuart, is we're going to move toward forward on tax reform. the president's going to use the ability of his office to be a bully pulpit and a focal point here as congress reconvenes after labor day. the whole nation is trying to figure out how it is best to respond. you're going to see a robust response from congress and from the american people, but it's not going to way tax reform. there's an urgency and the president is bringing this to a focal point, which i think is going to be incredibly helpful. stuart: now, is it going to be a separate bill to help harvey's victims? or is it going to be wrapped into the budget later? >> there's two things that could happen. you could have a separate piece of legislation that's
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known as a supplemental appropriation. this is all happening at the same time as the normal appropriations process and the end of the fiscal year is coming to fruition at the end of september. so i don't think there's been a decision that's been made. one of the things that has to happen is there has to be a determination about the nature and the extent of the damage from hurricane harvey in order to get a number and know what it is that we need to do. stuart: that's a fair point. now, we're told that the president this afternoon literally -- and i believe it's in three hours time that he has to speak, that he's not going to give any details about which taxes he will cut or which part of the code he will reform. instead, he will sell tax cuts. here's what's in it for you, the american people. you approve of that? or would you like more details? >> no. i approve of that. look, the president of the united states, the nature of that office has the capacity to bring a focal point to the american discussion, and we need now this focal point and this sense of clarity.
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think about it. if health care has an impact on one sixth of the economy, tax reform impacts the entire american economy, and you impact the entire american economy, you are impacting the entire globe. and the notion of going that alone without presidential leadership, there's just no way to do it. so the fact that the president is bringing attention to this as congress reconvenes, the timing is excellent. stuart: republican pitas always, thank you very much for joining us. >> thank you, stuart,. >> as looters targeted abandoned homes and businesses, on the phone with us now houston police chief art. i understand that you've arrested what is it? 14 potential looters. is that how you're cracking down? >> yes, sir. about 14. and one of the reasons the mayor has issued the curfew is that we want to make sure we don't have any opportunity for people to victimize people
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that have already been through enough. stuart: i have to say, sir, that i watched your press conference yesterday afternoon when you talked about the death of one of your officers, 60-year-old man, 30-year veteran of the force. you really took that personally, but i think you led the nation in making us understand the sacrifices that people are going through in this emergency. repeat what you say, would you, sir? >> thinking about our first responders is we had a man that gave his life spending two and a half hours desperately trying to get to work. but despite his wife asking him to stay home, he's out there in dark, ultimately, he paid the ultimate sacrifice, and i think it speaks to the heart of the police officer and the dive team out there monday night wanting to be in that water having worked 37
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hours eating and those 37 hours a few power bars. i can't say enough how proud i am of everyone involved in this disaster response, and i'm still worried, you know? we still have work to do. we're still in response mode. and goodness that we're down to very few people that we need evacuation and rescue. but i worry about what we're going to find when the 1 trillion -- it 1 trillion gallons of water that fell over the houston area. stuart: joining your press conference yesterday, you paid tribute to the cajon navy, the volunteer navy that has rescued thousands of people. are they still there, sir? >> oh, yeah, they're still here. you have to love cajon people. they're great people, and what i love about this great is that when there's a tragedy, it's an opportunity for
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americans to show that we always put differences aside, and we come together as one tragedy starts. stuart: art, thank you so much for joining us, sir. we admire you and respect you. thank you very much. >> thank you. ashley: that's something else. liz: very moving. stuart: griff jenkins is with us. he's on the ground. update what you're doing and what you're seeing. >> that's right. the chief has it correct. everybody is coming together. we're aboard a high water vehicle rescue mission with the fire department. captain david petavan is out here, tell us, quickly what mission you're on and just so you know, stuart, we're still in that area north of the attics reservoir where the heaviest flooding is and where we can expect this to occur all the way to october? >> we've been getting varying reports of how long it's going
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to be. there's definitely going to be water out here for weeks and weeks and weeks to come. we are out here in a high water transport vehicle making sure that we clear all the calls that we have, making sure that everybody that didn't get out before that may want to get out now can get out. there's about eight adults that are being shuttled to us by boat, and then we'll take them to higher ground. >> and, captain, we have for the first time a little blue sky. you've been working around the clock in horrific conditions. tell me about how it's going and has this helped you as we got into today to try to make more progress? >> so our men and women, the volunteers that have come through have been working 24/7 nonstop, absolutely fantastic to make sure that we get everybody as quickly and safely as possible. the seeing a little bit of sun and then that ray when it first came out, it was amazing. you could see the facebook post everybody going outside. just to see reinvigorate everybody and get them a
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second wind. >> you talked a little bit about the longevity of what this mission's going to be. some people that we've been running around saying that they may want to actually stay here. could they actually stay? very quickly, could they stay for a couple months? >> so we can't force them to leave, and we've been going around asking people, you know, please come, it's going to be a long time. they tell us no. no. we're fine. we're running into the problem now where they may have thought the waters were going to recede by now. and as more information comes, this is going to be a lon, extended flood, we're going to have to come back and rescue them then. >> thank you. there you go, stuart, we're going to stay on this mission and continue to bring the viewers the latest. stuart: thank you very much indeed, sir. we are still on the heroic rescue underway. next, the man rescuing people on jet skis. and, by the way, no market, stock market action whatever in connection with harvey at this point in time. the action is in gas where the price is going up. and the action on that storm
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is right there on the texas louisiana state line. we'll be back ♪ [brother] any last words? [boy] karma, danny... ...karma! [vo] progress is seizing the moment. your summer moment awaits you, now that the summer of audi sales event is here. audi will cover your first month's lease payment on select models during the summer of audi sales event.
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>> i'm nicole petallides with your fox business brief. the dow, virtually unchanged trading at a very narrow change. less than 50-point range after win yesterday. but we are seeing finance and technology doing well and also apple a new high.
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looking at ups and fedex. both of these companies donating over a million dollars to those in need in houston and in texas overall. but now saying they're significantly limiting and almost stopping areas to houston. corpus christi, galveston is not able to get those out. 730 zip codes that are now in jeopardy of receiving any packages. also, the retailers watching names such as cvs issues emergency one time refill for prescriptions. walgreens saying they're trying to help patients get to the medications that they need during walmart and sam's club ce liberty mutual stood with me when this guy got a flat tire in the middle of the night. hold on dad... liberty did what? yeah, liberty mutual 24-hour roadside assistance helped him to fix his flat so he could get home safely. my dad says our insurance doesn't have that. don't worry - i know what a lug wrench is, dad.
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stuart: all right. another star and another hero on the phone with us now. his name is ryan smith. he's a resident of cypress, texas. ryan, welcome to the program. we put you on because you're the jet ski guy, aren't you? you're th the man who organized a fleet of jet skis to go rescue people. give us your story, please. >> well, i didn't organize too much of anything. there's just a lot of good people doing a lot of stuff out there, and i was just fortunate to be in the position to be one of them. stuart: how many people did you rescue? >> oh, i couldn't even tell you, to be honest with you. you've been doing for several days for lots of people in lots of different positions. stuart: and this is in the
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houston area; correct? >> yes, sir. on the northwest side. stuart: we've got a picture now with a red jet ski with a elderly person being taken out to safety. is that you driving it? i can't tell. >> no. that's actually my neighbor keith. he was one of my four neighbors that came with me on the jet ski and on the boat to go out and rescue some folks there. stuart: how many jet skis did you have out there at any one time? >> i just had mine or my neighbors, and then my boat. the rest of them are all volunteers that were out there, so we were able to, you know, stage. stuart: hold on a second, ryan. on the left-hand side of our screen right now president trump boarding air force one. he will shortly take off for springfield, missouri. he delivers a speech this afternoon on tax cuts and tax reform. he's barn storming for his growth agenda. he's on air force one. he takes off shortly. back to you, ryan. are you still in the line of business of rescuing people on jet skis and how long are you going to do this for?
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>> well, unfortunately, i think i knocked a hole in my boat yesterday, so i'm out of the rescue business for now. as did my neighbor with his jet ski, so, unfortunately, we're both down and out right now. stuart: okay. well, look, i think you did a great thing there. you rescued countless people all voluntarily. ryan smith, you're all right. any time you want back on this show, you can come back. >> all right. thank you, sir. stuart: thank you, sir. here now martha host on the fox news channel. this is a tragic story but heroic story at the same time. that's how you've been covering it. >> i mean, it is extraordinary to see the outpouring and the efforts for all of these people who drop everything, like ryan smith did, and just get on their jet ski and go out and save as many people as they can. i saw dunkirk over the weekend, and it reminded me of this, you know, sort of spirit that existed in your home
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country in great britain during world war ii. people just getting in their boats and going across to bring people to safety, to bring those british soldiers off, and it's that kind of spirit that we see here. and you can tell the humility in ryan's voice. he doesn't want to be a hero, he doesn't want to be the leader of an army. he says i would do what anybody else would do. and you just ask yourselves in that situation. stuart: well, there's a lot of talk about how it brings america together. the democrats and republicans in texas -- >> not that we need that. stuart: i sense that the coastal elites are looking down on the good people of texas. they're not quite with the gung-ho positive spirit. now, that's my opinion. my observation. you're a news person. you don't cast opinion out there. but go ahead and do it. >> it goes against the grain. as i said this morning, the media in some circles is craving photo op hugs and sensible shoes above efficiency in this operation
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and making sure that people are getting what they need. there's just bizarre sort of need for a president to be -- to show the right kind of empathy. and i've seen presidents in the past who bite their lower lip and gosh, i'm with you and hand out hugs in the most sincere, possible way. but you have to ask yourself what the bottom line result is of this. so for some, apparently, the appropriate empathy really checks the box for everybody. but, you know, the box that needs to be checked is an efficient well-run operation that sticks with these people in the weeks and months to come. and that's when we can sort of decide whether or not the report card comes out well on this. stuart: here's a story, which i'm sure you're going to be covering for us tonight. and it's just breaking for us now. next week, the president will host two congressional meetings at the white house. tuesday with the big six, as they're called. this is the tax group. ryan, brady, mcconnell, hatch, mnuchin, and kohn. and then on wednesday, it's the big four congressional
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leadership ryan pelosi, mcconnell, and schumer. now, that's all getting ready the tax cut, the speech this afternoon will be about that. and then the tax cut and then the legislative agenda. he's moving the ball forward. the president is pushing his ball forward with a growth agenda. >> he has to. this was a job he was elected to do. this is not a popularity contest. everybody needs to check their personality at the door when they go into these meetings. there are bruised egos, there are has been a rocky road in many respects, but this is what this president was elected to do. if he doesn't get tax reform through, and he knows it, this is a very significant hurdle for him to overcome. it has to be about achieving that goal. look at the gdp number this morning. the second revision. up 3%. as you guys well know, it has been a decade since we've seen numbers like that. and wall street understands it, small businesses understand the difference that they're seeing in the market out there. if you put on top of that tax reform, you're going to have an economic recovery in this country that's going to be
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pretty hard to cast dispersions at, so we'll see if they can check their egos at the door and say this is what the american people expect to do. stuart: you should cross the fence and come over and do financial news. that was pretty good. >> that's a good idea. stuart: no, i want to keep my job, thank you very much indeed. martha, everyone. good stuff. thank you for joining us. >> thank you, stuart. great to be here. stuart: harvey making its second landfall. louisiana this time. this storm is not over. we will deal with it next. and a bright moment for texas. look at that. the sun emerging. okay. briefly, but it did come out. we'll be back
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stuart: our next guest represents louisiana's sixth congressional district, he happens to sit on the transportation and infrastructure committee, which has jurisdiction over fema. fema, sir, needs more money. is it going to get it? >> they absolutely will. we've been in touch with white house and other federal officials talking about the need to transfer dollars into fema to make sure that they
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have the emergency funds that are needed to respond on this disaster and address every need. congress is going to have to come back in the early days of september and put some significant dollars into the disaster relief fund to make sure that the fema and other emergency operations can continue. stuart: now, we're talking tens of billions of dollars i think. we have an estimate. it's a rough, early estimate of $160 billion. that's for cost of this thing. clearly, any more money for fema has to be measured in the tens of billions; right? >> without question. and i think what you're going to have to do and in terms of any disaster, we had more than our share here. you're going to have to come in and put tens of billions of dollars in there, make them have the resources they need immediately as the water recedes, as this disaster unfolds, and we're able to do additional assessments, we're going to have to come back and do a more tailored response with everything from different disaster recovery programs to tax breaks and things along those lines. but you don't have any disaster that's the same and the response and recovery
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shouldn't be the same either. stuart: congressman, i have to leave you. i do apologize for this. but i have to go to a very important deal that's breaking now around port arthur in texas. harvey has forced the largest crude oil refinery in the country to shut down. it's in port arthur, texas. and hillary vaughan has been struggling to get there for hours. she's made it, and she's got a report for us now. hillary, we are told that port arthur got 26 inches of rain overnight. what are you seeing? >> right. well, right now, we're stuck on the freeway. you can see tons of boats have been lined up. the mayor asked for more boats, and people have answered. but just five miles from here, america's largest oil refinery is shut down as hurricane harvey wreaks havoc on this city. the saudi-own refinery says they began a controlled shut
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down after increasing flood conditions, and they won't open back up until floodwaters recede, which could be weeks. the plant processes over 600,000 barrels of oil a day. this isn't the only refinery offline, though, stuart. 15% of u.s. refinery capacity is down. exxonmobil was forced to shut down its oil refinery just outside of houston. they discovered some roof damage, and that is the second largest refinery in the country. harvey at total has put at least 12 refineries offline. now, we don't know when they're going to open back up because a lot of these oil refinery capacity relies on being able to get the oil out from the refineries through ports. and one of the main veins that these oil companies takes oil to and from has been shut down for days, and we're not entirely sure when it will open back up again. stuart. stuart: hillary, what i'm concentrating on, i'm looking at a line of boats,
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volunteers. the volunteer navy. there are guys there putting on their gear ready to get in the water and go rescue people. this is part of the most extraordinary rescue operation done by volunteers that i have ever seen in america in my 40 years. hillary, we think that is terrific. >> right. stuart, and that's what we've seen all across the state of texas. we've had a hard time getting here. but the mayor put out a tweet on twitter saying we need boats. we need anything that can get people out of homes. there are about 20,000 homes on water. and they're having trouble getting people out. so you're seeing this line of truck after truck. these are ordinary people. ordinary folks that came out. they brought whatever floats, basically, so they can get people out. stuart: hillary, thanks for the effort getting there. you made it, and we appreciate that. hillary vaughan right there in the center of the action. look at that. all those people volunteering. nobody told them to go. nobody forced them to go.
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and nobody organized this. they just went. liz: they responded when the call went out. liz: they say if you love your city and houston, they say they really care about each other when they say statements like that. in full display right now. stuart: i hate to go back to this, but we have a sniping media. all they can focus on is melania's shoes. disgusted. what an appalling thing to say and do. i mean, good lord. and here you have -- it reminds me of that money dunkirk. rescued 400,000 british troops from the beaches of france and brought them back safely. and just went. you're seeing exactly the same thing in texas with the cajun navy, the volunteer navy. liz: people on jet skis. stuart: i saw canoes, kayaks. i didn't yet see a rowboat, but i bet they're out there. all right. everyone, that's it for me today. but i will tell you i'll be back at 7:00 eastern tonight.
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i'm sitting in for lou dobbs whilst he's on his vacation. we'll bring you all the news on the president's speech this afternoon on tax cutting and of course the latest developments on harvey. all good stuff. see you at 7:00. neil, it's yours. neil: all right. stuart, thank you very, very much. we are updating you right now on that recovery in harvey. also keeping an eye on what could be a reported storm that harvey could fetch a price tag close to $160 billion, which would dwarf the $100 million that was the cost of katrina 12 years ago. 32,000 people, by the way, are still in emergency shelters across texas. that's coming from the red cross. a lot of them are going to have to be shuffled around. austin is willing and eager, it says, to take as many as it can. up to 7,000, we are told. meanwhile, the government is saying it could take many years to recover from

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