Transcripts For FBC The Willis Report 20121210

Hello, everybody. Im gerri willis. Tonight no progress on the fiscal cliff as democrats and republicans trade barbs over the issue. One group of americans is finding a way through this regardless of congress and the president. Smallbusiness owners in this countr are preparing to hire. Join me now, chief u. S. Economist for i may just pull one side. Heart of America Group founder, and member of the Jobs Creation alliance and actual job creators in this country who say their voices not being heard in this office took with debate. Also with us from the weekly standard, steven haze. Welcome. Great to have you here. I want to start with the conversation in washington and what the speaker had to say about the status of the fiscal here is mr. Boehner. This is in the Progress Report because there is no progress to report. When it comes to the fiscal cliff that is turning our economy and jobs, the white hhuse is wasted another week. Gerri what do you say . We wasted another week. We seem to be getting nowhere, and now folks are saying the president is trying to entice us of the fiscal cliff. Look, i think theyre actual some pretty strong incentives for the president to take the country over the fiscal cliff. If you look at what the president s stance to gain if the country goes over the fiscal cliff, there are very clear and identifiable things. On the one hand the president could identify himself as a tax cutter. He could say on january 1st the president in terms of the country and say, now in favor of cutting these taxes that have been raised because we did not solve this before the fiscal cliff. He can turn and say to my want to restore some of this funding that my secretary of defense and joint chiefs of staff told me i need to restore and can position himself as sort of the protector of u. S. National security. So there are some clear incentives to the president to lead the country over the fiscal cliff. Do i think thats what he wants . Probably not, but do i think there are incentives for him to do it temecula. Gerri never looked at it that way. As you look at this debate on going, there are a lot of folks who say we will be flirting with recession or in recession if we do go over the cliff. Do you agree . That happens only if we go off the cliff and stay off for an extended amount of time. To we dont go into recession just because we dont have a resolution on january the first. Its a question of whether we have no resolution at that time but it seems that its likely to a come within a short tme. The longer we go into january with no resolution the more likely that we do go off the cliff into recession. Gerri the broader concern is if we confined in the ground. Great to have you on the show. Only moments ago i was speaking to a fellow whose business is buying and selling Small Businesses. He taught me all year long Small Business owners out there seeing the fiscal cliff in front of them have been saying im ready to sell. Have you seen that . Well, i just talked to a friend of mine toay. Why would anybody in america wh has been successful continue to do it . On january 1st if my wife and i get hit by a bust the government thinks theyre entitled to 55 basically everything have made. Heres one hotel that ionas with about 20 million. Apparentlyassing them on to my children on january 1st is some kind of threat to there public. I think its a threat to being in the land of the free. Gerri as you are implying, the taxes, the debt tax sores after january 1 if nothing happens. Monster. Gerri absolutely frightening. To you, you can see how people are reacting in the heartland to this. Were seeing reports every single day about people who are no upping the ante to charity because theyre worried that their charitable donation will be worth less. Companies are paying dividends ke to have not seen in december. It seemsto me like the rest of the world is ahead of congress. Washington is in the rearview see, and evebody else is getting ahead of them. Right. I say thats like every other day in america where threst of the world as head of congress. [laughter] gerri how is this different . [laughter] i think thats right. I think what were seeing in public is a little bit different from all rehearsing in private. What youre likely to see is republicans agree to some kind of decoupling of the tax rate issue, whether they do it ad this proposal that has been floated that they vote present and let thepresident and democrats on theissue or whether they free up whether john boehner frieze of members of congress to vote for some kind of a comprose that would include a rise in rates on the wealthy. I dont know what the mechanisms will be, but you have the negotiations taking place on the one hand, and on the other hand you have negotiations on all the rest of the stuff which is likely to e lumped into some kind of an omnibus bill a series of bills at the end f the year struck the last minute to bail us out of this issue. Likely to include a bunch of unattractive addons, last minute things, and it will be the kind of agreement, the kind of negotiation that leaves the rest of america the heartland, as you say, even more disaffected with the ways that washington is doing business. Looks like the way that washington is going to be doing business from here forward. Gerri to you. You watch this. You must be disbelieving. The length of time these things take. Very important jobs numbers and the jobless rate in down to 7 . But what is astonishing about that report was not that number or even the one below it. It was the number of people who are out of the workforce, not looking for a job, a disaffected, the people who dont want to look. Some 350,000 folks. This was, to me, a real wakeup call in the jobs market. What do you see . Well, less than two out of three americans that are working that means ore than one out of three people are apparently sitting on. What kind of productivity due respect to all kind of growth to we expect if one of three people are sitting home . We had agrand bargain in this country fo about 50 years. We took about 80 percent of gdp in revenue and spend 20. 1919 and a balanced budget amendment. Gerri that put the capper on it. Thank you for coming out tonight. We appreciate your time. Thank you. Gerri have a great weekend, guys. As you rushed to make destinations , dont do it blindly. Coming up in half an hour, the ceo gives us his it done dating dos and donts. Youll want to hear that. A lot more still to come to including one of the bellwether companies for employee benefits, changing the way it does retirement. Next, the 19 member of the Senate Banking committee tells us what he thinks needs to happen in d. C. To get a deal on e fiscal close. The capitaone cash rewards card gives you 1 cash back on all purchases, plus a 50 annual bonus. D everyone. But her likes 50more cash. But im uppi my game. Do you want a candy cane . Yes do you want the puppy . Yes do you want a tricycle . Yes do you want 50 percent more cash . No festive. [ male announcer ] the capital one cash rewards card gives you 1 cash back on every purchase plus a 50 annual bonus on the cash you earn. Its the card for ople who like more cash whats in your wallet . Gerri speaker john barrett toy calling up the white house saying their wasting time and president obama is bringing our economy right to the edge. Ford your we offered a serious proposal based on testimony of friends that clintons former chief of staff. Since then there has been no counteroffer from the white house. Instead, reports indicate that the president has adopted a deliberate strategy to a slow walk our economy rght to the edge of the fiscal clif. Gerri earlier i asked republican senator Richard Shelby of alabama for his take on the comments from boehner. I believe that Speaker Boehner is on the right track. The president has not come uptown now, been deeply involved, that we know about , in any of these offers are counteroffers. Dealers said he has been campaigning to meet. But he has to get inolved if he wants to avoid the fiscal cliff. I think that the speaker has indicated that he will try to engage in, try to meet him and try to avoid the fiscal cleft that the presiient is going to continue to say it is my way or the highway, that is another game. Gerri it is. Harry reid today saying that the game is at chess game, and the republicans are the jets. Here is harry reid. He has a problem. He has three quarterbacks. He cannot decide who the quarterback is going to be. That is the same problem republicans are having. Romney is gone, but he is still in the background. We have mcconnell and boehner. Who is the quarterback, mr. President . Gerri what do you make of that analogy . Well, that is a football analogy. Well do that from time to time, but the reality is the speaker of the house is the speaker. The house is the majority republican, and if he is going to advance that way, that is probably in order. Senator mcconnell is involved, im sure talking with boeher about these issues. He always has been, but you have to have the spokesman, somebody to talk to. The president is absent up here, and i hope he will come to the table. I hope we can avoid it, but a lot of it is going to ultimately be on the president s watch. Gerri i have to tell you, there are other people mia. Most of the house is gone on vacation. The senate is spending all this time figuring a helmet will be able to watch lincoln and have pcorn. This is what harry reid is that the last couple of days doing. Why cant we get people in the same room and try to get this thing resolved instead of just talking past each other . That is an excellent idea, but first a believe we have to get the president involved with the speaker of the house and see what the real parameters are and see if there is any real negotiating room there, wiggle room on each side. Until that happens, you know, if you do it in the press and you do it in ohio, you do it in michigan, you do it in texas, somewhere else, thats not doing here. Gerri well, i want to get you to another topic as well today, which is the federal house in administration, which is facing just an unprecedented financial problem. And now sean donovan who runs the department of housing and urban development, hey, we are taking steps to try to lighten the load, but is it enough . And what is the right rescue . What is the right plan for the fha . Actually, it is a timely question. We had the hud secretary before the bankin committee yesterday. Fha has over a trillion dollars in its portfolio. It is hemorrhaging billions of dollars. It has a negative worth of value right now. I am afraid it is going to be asking senate and later for a taxpayer bailout. They already have the mechanism in place to tap the treasury. I hope there wont. The secretary, i hope, will he has some tools at his discretion. He can run the premium of and bring in more money. He can stop the hemorrhaging that way. He can also, perhaps, what to he makes loans to. Some of the loans that were made are just defauing left and right. You cant have that kind of a housing policy. Gerri will be enough simply to raise premiums . They have already one that, already trying to maket these bad loans as quickly as they can. Does the situation called for a more radical response . Oh, i think raising premiums, you are right, alone will not do it. Part of it is, it is inherent in the fha progr. People are paying down so few dollars. They have not much equity in the game. And a lot of them have lowered some of the chris coors, you know, to get people. And people in default or have bad credit will continually default again. That is part of the problem on underwriting. Gerri we have to find some kind of solution because there is not a person i know who wants to bailout somebody else right now. I think we have had it with the bailouts. I hope so. Gerri me, too. Senator Richard Shelby, think you for coming up tonight. An absolute pleasure to have you. Thank you. Gerri presidenobama flipfloping on his inauguration he is not going to accept unlimited sums of corporate money to pay for his inauguration. Obama had banned corporate donors for is 2009 swearingin in order to give the present supporters ownership. But now they will accept cash from companies and individuals to underwrite the cost of the festivities next month. I guess taxpayers will have to foot some much of the bill, but corporate sponsors will be right there trying to get all of the influence the can. Youre fired up about this during the issue, taught me an email. Gerri foxbusiness. Com. Coming up on the willis report, ibm getting flak from making major changes to its retirement program. At what cost to its emploes . Could your employer pull a fast one i knew . Jerry dissects it all next. Is the president not doing everything by the book . Fox news legalanalyst is here to break down why some say he should be in trouble with the law. Is the season for giving, but dont let washington fiscal cliff talks cloud your judgment for finding the best cherries for your dope. Our experts shares tips on what you need to know. We are on the case next on the willis report. Gerri big changes coming to tech giant ibm that may change the way you ave for gerri there is the story out there not getting a lot of attention today that you need to hear abou particularly if you care about your retirement. Ibm overhauling its retirement program. Instead of contributing to its employees 401 k over time,he company will opt to contribute a lumpsum payment once per year. This may not sound like a big change, but the move undermines the very idea of retirement savings. Look, the attraction of a fox business is the idea that you leveled out what you pay for in investments over time. Stock prices go up, they go down, but over time you average out your risks and your cost. I call it dollar cost averaging. But with ibms new plan, the advantage of its lead disappears. This would not be such a big deal, but ibm is considered a leader in employee you benefits. The Company Believes is the trail with innovative policies. And other Big Companies are sure to follow the lead. Now, to be sure shareholders may like to move because it will save t Company Millions of dollars a year in compensation expenses. But employees who are close to retirement and desperately trying to make up for losses from the recession are not going to be so happy. And also, one thing we should say to be fair, at least ibm has a plan, and they are contributing to it. I want to make sure weve jealously guad every advantage to small investor has. Thats why im talkinn about today. That brings me to the Investment Company institute and its press release this week, which, frankly, was a stunner. The Investment Company institute is a trade Group Representing mutual funds and other Investment Companies is product we all used to grow our mutual fund balances. They say after an examination of researching data the group gives its members a thumbs up on the jobs it has done, helping americans prepare for retirement well done. I disagree. Americans are struggling in their efforts to put together an accord retirement savings. True, total retirement dollars have risen over the nearly 30 years the trade group is studying, but you expect that because many households lost the benefit of Company Sponsored pensions and were forced to start sitting on their own. We need to look at the cold hard reality. The majority of americans, some 75 , have less than 30,000 in their retirement accounts back in 2010. The savings accrued by the majority of middleclass seniors will support their current standard of living. Instead of cutting each other on the back we need to get serious about what eventually ill be retirement catastrophe if we dont do something different. Applauding the move because it saves a penny or two is a big fat mistake. Thats my view. Coming up, it is the season to give to charity, especially before the end of the year so you can get tax breaks. What to those charities . And the president obama break the law . For legal eagles looked at in the case making its way to the federal court. You know how painful heartburn can be. For fast, long lasting relief, use doctor recommended gaviscon®. Only gaviscon® forms a protective barrier that helps block stomach acid from splashing up relieving the pain quickly. Try fast, long lasting gaviscon®. [ engine revs ] [ male announcer ] oh what fun it is to ride. Get the mercedesbenz on your wish list at the winter event going on now through december 31st. [ santa ] ho, ho, ho [ male announcer ] lease a 2013 e350 for 579 a month at your local mercedesbenz dealer. Gerri did president obama break the law . A federal Appeals Court is deciding if the president s appointments to the National Labor Relations Board when the senate was on recess was unlawful. Why . Well, because Senate Senate republicans say the senate was in session. The chris was brought on by a Bottling Company after the nlrb ruled that the company must enter into a collective Bargaining Agreement with the labor union. The company isrguing the decision cant be made because the recess appointments are invalid. Here is weigh in, lis wiehl, fox news analyst and randy zelen. Look at the end of the day this whole thing is argument was the senate in session or was it not. Were they in kindergarten or on recess. The president may have skirted the law a little bit, like a little bit of sidelining it but did he cross over the line . No. Does this happen all the time . Yes. Yes it does. Melissa randy, what do you say. Skirted the law like im wearing a skirt. He obliterated law. Exactly. Lets take a step back look at what this whole thing was designed to do. Once a upon a time, smart guys, founding father, look you have to make a temporary appointment, Senate Confirm it well not the drag the senate back in. Mr. President do what you have to do. It was for the convenes of senate, not to screw the senate whi is exactly what the president is doing. This is family show. We dont speak in those terms. Melissa wase trying to get around the senate . Was he trying to do something that the senate did not like . He was spirited but he did not go over the line. Legally it is proper. You cant argue with that. Yes i can. Knock yourself out. At that. He killed it. He threw it out the window. How is it illegal . Because first of all it is intercession. The congress, senate is supposed to be gone until 2013. Theyre not gone. Theyre still around. Which means there is no interrecess. In fact arguing for the president blew it and kind of admitted it. Technically they declared recess. That mea they were out. Whether they were physically there or not, it doesnt really make a difference. They declared a recess. That means there was recess. He could make those appointments. Melissa move ooto something is Something Else you will sagree. This isnt just about politics, randy . Yes. Melissa . But it doesnt matter. Youre asking a legal question. The. Melissa that is political queson now. And let me expand on it because i think the president using this as an opening and may revisit this. This is wasnt like, oh, shoot, i didnt realize of course not much of course not. Taking full advantage, is that what we want from our government leaders. If what he legally can take full advantage of. I disagree. I agree it is taking advantage. That is exactly what it is. Is that the message we want to send . When do we as citizens take off im with stupid tshirts. This why we dont get anything de. Melissa were good at that. How do you think the court will rule . It will be legal. Court will look at it, but say, the senate was in recess. It was completely legal and according to what other precedents done. No question, based on questions thrown at the attorneys the cou is saying come on, wait a second. They were not in recess. Thats not wh gerri was asking. Gerri is asking what will the court absolutely rule . Theyre going to say no, no, no. Smack, mr. President. Smack, mr. President. Break that down a little bit. Tt he shouldnt have done it. Wrong for doing it. He broke the law. He didnt skirt it. He broke it. The court will say cording to you what he did woos illegal . The appointment is gone. See ya. Youre wrong. Melissa what does either side will appeal. Then the Supreme Court will take it or not take it. I dont thin so. I kind of hope that they do, if nothing else to say, its enough with this stuff. The only thing that everybody in government can agree on is to call a fancy sound bite like the fiscal cliff but not get anything done. This is primary example why we don get anything done. Melissa we agree to disagree, am i right . Were definitely agreeing to disagree. Melissa i love when that happens. Randy first time. Thanks so much for happening. Delightful to be on wiwith you, and you. Melissa thank you so much. We want to know, we want to follow up on a story weve been covering for some time now. Michigan a laborecca as you know is now a righttowork state, believe it or not. Like other states in the region republicans achieved almost impossible feat, to get the statehouse and senate to pass the legislation in one single day. The state could become the 24th righttowork state with a law next week. That means workers wilill not be required to join a union or pay dues as a condition of employment. Rules require a fiveday waiting piod bore the governor can sign the bills which he has pledged to do the bills passed despit cries of outrage of Union Activists who stormed the state capitol. Police were formed to use pepper spray to subdue the protesters. There were walk outs from democrats. These guys lied to every day and acting like cowards pushing this through in the dark of night lame duck. He says this is leadership. Baloney. Melissa republicans lost five house seats in the november election and admitted to wanting to get it done before the Legislature Takes office xtonth. Unions may not like it. It is proworkers progrowth, proemployment, proeconomy. You name it. Good for them. Still to come my two cents more on Barney Franks next career move. It is a shocker. Will it be a merry Little Christmas for the stock market . Scott martin will tell us whether santa will bring a bull or a bear and what 2013 has in store for us. [ male announcer ] a full life measured in seats starts with the right ones early on. Car crashes are theumber one killer of children 1 through 13. Learn how to prevent deaths and injuries by using the right car seat for your childs age and size. Melissa fox business alert for you now. Netflix is facing scrutiny over a Facebook Post by its ce listen to this. Curities Exchange Commission recommending action be brought against ceo reed hastings. He posted his onli video, viewing exceeded one billion hours for the First Time Ever in june. Information how the company was performing. The sec says that information should have been disclosed in a regulatory filing or news release. Shares of netflix rose more than 6 on the day of the post and another 13 points on the next trading day. In response to the sec notice hastings used facebook again to call the probe a fascinating social media story. Wow taunting them. And while the dow and s p ended the week in the green, wall street seems pretty split how the market will perform in 2013. Some analysts predicting gains as much as 14 others a loss as much as 2 . Scott martin, chief Market Strategist for united advisors joins me now. I cant say scott martin and stock market together. It is not working for me today. Should i leave the business then and do Something Else, huh . Melissa i think we should talk about Something Else. Im getting to talk about the santa claus rally. Is there a santa claus rally . Will very a true santa clauserally . I think it will be tough to get one, i really do. There will be repositions portfolios at end of the year. People are getting nervous about the fiscal cliff. I wasnt that concerned a couple weeks ago. You got on top of me about that and you were totally correct. It is starting to hurt people. It was a good call by you. I think that hurts stocks by end of the year and investor spending an appetite and Consumer Spending as well. I love it when you tell me im right. It often doesnt last very long. I got to think though at some point when we get some real clarity on this, really, no matter what, whether it is good for bad for investors and taxpayers, there is going to be a little relief in the market, dont you think . I think so. And youre right, clarity is definitely i think what a lot of people are looking for. Both side of the aisle i think want to get something done it is just what. The other question though i have, we talk about the s p 500, right . Lets say today it is at 1420 or so. When you look at corporate profits, gerri and impact in potentiachanges in tax regulations will be on Company Profits you have to revalue the market somewhere in here which i think is at lower price if companies are trying to pay the government more money. Gerri lets talk about 2013 and what we might expect. As i said in the intro, expectations are all over the place. Citigroup predicting stocks will go up 14 next year. Goldman sachs 11, ubs just 1 . Morgan stanley one. Wells fargo says the market will go down 2 . Where do you fall . Im probably up four or 5 . Im not expecting that great of a ar net net a end of the year. I think it will be pretty bumpy at the end of the year while the stuff gets worked out and people reevaluate the landscape of everything. Iill comment on the numbers you threw out there. That scares me a little bit that everybody is so, lets say positive. I dont want to spike the eggnog here but the fact the is not one person or one bank that says the market will be down next year frightens me a little bit. Gerri wells fargo says it will be down by 2 . Theyre the outlyer. Right. Gerri they are the only one of five we talked about. A lot of optimism out there. Weve been in the bull market a long time. It has been very strong. People get complacent. They start betting same thing will happen over and over again. Ishat the same thing i see a lot of fellow strategists make . A lot of times. People do the old, you chase the returns and get in at the last minute and get hit when the market goes down. I will tell you, you made a good comment, it has been a good bull market. Investor hasnt participated in much ofhe gains. I hope theyre not left out in the cold here as the market seems to top out. Gerri usually the sllest investors get in the latest in the rally and often miss highs. It always happens that way. It is sad but true. You said housing will be an important driver of growth in 2013. Finally, finally you think it will happen . Believe it or not, gerri, i like the housing sector. Transactions are happening all over the place. Banks are lending money. Housing is only 5 of the gdp after it got decimated last few years and has a long way to come back but the arrow is pointing out up. Gerri thanks. Good to talk to you. Scott martin, sck market. Scott martin, stock market. I will stay in the business one more day. Gerri have a good weekend. Bye. Gerri eyes of Big Government wil soon be in your life every way, and soon in your car. They are proposing automakers install black boxes like you see in airline cockpits. They will be in all Passenger Vehicles after december 21st, 2014. They automatically record the driversesponses of vehicles in continue us loops. That information couldnt be misused now, could it . Hmmm. Comi up next, the obamas lighted the National Christmas tree. See how manytrees are inside the white house. You will be astonished. Gerri if youre planning to donate to charity for the holidays, stay tuned, up next yearend tips gerri americans are back to using their credit cards now in record numbers. According to the federal reserve, u. S. Consumer borrowing hitting a record 2. 7 trillion in october. That is up more than 14 dal billion month over month. They weresing them to buy cars and attend schools. Autos and Student Loans increased nearly 11 billion. Moving on giving to charity during the holidays is always a good feeling. Nearly half of all contributions Charities Receive each year are made between thanksgiving and new years. With talks of congress limiting the charitable Tax Deduction asart of the fiscal cliff negotiation will this year be any different . We have the head of Charity Navigator with me now. Ken, we were talking during the break, there has been, youve seen increasing contributions to charities this year because of that fiscal cliff. What do you see . Weve seen some larger charities have seen as much as or 8 increase in donations whereas some of the Smaller Charities theyre still struggling and donations are somewhat level from last year. Gerri you know, people have this on the front of mind. This is traditional time of year you make your contributions and this year more than ever i think people are thinking their dollar will go further because of the possible changes in taxes. What is the one thing you would tell folks this year about chartable giving . What do they need to think about or remember this year . They need to remember that even now more than every charities really need their help. There is more of a demand because of unemployment, because of other challenges out there, disasters and storms and so forth. In addition to that, theyre already over the fiscal cliff to some degree in the sense theyre seeing very large reductions in the amount of support they get for support they provide through government funding. They have already gotten a haircut. Gerri theyre squeezed both ways . Indd they are. Gerri your organization doing a lot of polling of the people who give and the people who take. What are you hearing . We hear people are planning to give at least a little bit more. The econom has slowly improved. People feethey are able to give a bit more and need out there is tremendous for the services of many of these charities. Gerri now the beauty of your website is that you actually rate, rank these charities and talk about what theyre good at, what theyre bad at. How much of their money is actually going to the charitable cause theyre rsuing. Tell us about a little bit about your website and what is it people really need to Pay Attention to when theyre cking a charity . Sure. We rate more charities than any other organization in the world. Were about, half of all the money in donations goes to those charities we evuate and were continuing to expand. There are three critical things people should consider and our website is working on all of that. One is the finances of the organization. Is the money going to the right place . Does the organization have sustainability, Financial Health . The second area what we call best practice, governance, accountability and transparency. It is all about do they have a strong board so the ceo is accountable to others and theyre ethical in their practices. The third is mission critical. What about the results of ire wor do you do more than story telling . If you have an Employment Program how many people are employed a year out . Really meaningful information that youre changing lives. Gerri we were talking in the break about some of the things go wrong or awry with charities. You have to be careful in choosing one. Telemarketing firms are a big issue. What is going on . There are a number of investigations and congress is thinking of getting involved as well. Apparently telemarketers are gouging more and more money out of a lot of charitable donations and a lot of relatively Large Charities are getting involv. At it means for a donor, 50 cents of your dollar, 90 cents your dollar, in some cases 100 of your dollar is going to the telemaeters of your cause. Gerri you say no Strings Attached what does thatt3 mean . Once you trust, you come to organizations like ours, dont hamstring them and say just use the money for this purpose because your dollars are precious and emergency and crisis you give them the flexibility to make the judgment on the ground it can be incredibly powerful and helpful. Gerri find the perfect fit. You do want tofind a charity out there doing something youre interested in and connected to, right . Yes. Sometimes a charity will have a Broad Mission that sounds right but if you drill it down it may not be what you have in mind. For example an organization in the area of cancer and you think theyre providing examinations and it turns out theyre doing lobbying. So you really need to know it fits what youre interested in. Gerri you say dont forget nonsandy charities. Are all the san charities getting all the money this year . Unfortunately when disasters happen there is flood ofmoney because of a good heart of americans and it is appropriate that way, but when it happens right have to make choices where your charitable dollars to go tre is tension and some charities that lose out that really need help. Of course it is no easy choice for a donor. We recommend if at all possible that you dont forget those charities that are there for you all yearround. Gerri up 7. 5 for the big charities. That is an amazing number. Ken, thanks for coming on. It is charitynavigate tore. Org, correct . Correct. Gerri great website. President obama and his family getting io the Christmas Spirit at the 90th treelighting ceremony at the whites house. It was transplanted to the white house days before the hurricane. Look at that. It is cool. It made ithrough unharmed. Obama was saying santa claus is coming to town. This is the tree outside. Gus what . There are 54 more of them inside the house. Than last year. There is one tree dedicated just to the obama family dog, bo. Of course 100 pound Gingerbread House has working chan dell leers. With the country in budget crisis and many in the northeast not able to get a Christmas Tree this year thanks to sandy, you would think they would tone it down a little bit. Thats what i think. We want to know what you think. Does the white house need 54 Christmas Trees . Log on to gerriwillis. Com and vote on the righthand side of the screen. I will announcethe results at end of the show. With all the talk about the white house Christmas Tree and rockefeller Christmas Tree you would think theyre the bigge and brightest around but they areot. Here are the top five tallest Christmas Trees in the country. Number five, the mayors Christmas Tree in kansas city, missouri. 100 foot tall tree in the city. Not bought but grown by the mayor himself. Way to go. Number four, the Christmas Tree at the grove in los angeles. Th may not have a White Christmas but they certainly have the spirit thanks to 110 foot white fir adorned with 10,000 lights and 15,000 decorations. Number three the outlet mall in anthem, arizona. The 112foot tree is decaded with two miles of lights and more than 3000 ornaments. Took 14 workers to put up the tree probablyweeks and weeks and weeks. Number two the Victoria Village in fern dale, california. 1557 foot tree. Still growing. The Fire Department deck rates the spruce at the end. Main street. Number one tallest Christmas Tree in the country. The tree at Coeur D Alene in idaho. Gorgeous. Makes it easier. Feet tall. The star alone is 10 feet tall. The rockefeller tree in new york city is 9th tallest, only the 9th at 74 feet and it is big. It is big. Well be heyyy, youre going out like that . Yeah, why . Well, what would the neighbors think . I see you cmon, get misr rfeather look what i have. Mister bird. Remember . Quack quack quack were just playing were just playing im trying to get you out of there even still. Announcer you dont have to be perfect to be a perfect parent. There are thousands of teens in foster care who dont need perfection, they need you. Gerri the white house and Congress Fight over cutting spending, the white house to celebrate the Holiday Season with 54 Christmas Trees. Does the white house need that many . Here is what some of you are tweeting me. No wy. How wasteful. Mark has a different respse. As long as they keep telling them Christmas Trees and 54 is fine. We also asked on. 3 percent said yes, and 97 percent said no. Be sure to log on fr our online question every weekday. Here are some of your emails. Any cat has to start at the top. The agencys, the salaries of all government employees. More of a leg to stand on about fairness and taxing the rich. If our politicians would give up their entitlements we would save the country billions and not have to affect the general public and their Social Security and medicare. Dan says, thii tax bite is why we should hold elections on april 15th. That is a great idea. It all comes together. I love hearng from you. Send me an email. Gerri foxbusiness. Com. Finally tonight, just when you thought of retiring massachusetts congressman congressman barney frank was stepping out of the limelight, no way. The boston globe reporting the 72yearold democratic congressman who is set to retire in january hired the big shot Hollywood Agency William Morris to represent him in the next phase of his career. William morris is run by r. E. M. Manuel, the brother of chicago mayor and the inspiration for the character