Transcripts For FBC Varney Company 20170905

Military response if we or allies are threatened. The deferred action for childhood arrival Daca Dreamers looks like they get a six month reprieve while congress sorts out a solution. The swamp, there are a lot on its plate with a 7 billion downturn and debate on a budget plus a debt ceiling deal and attaching bigger harvey is request to that debt ceiling. All of this and a 12day period when the house and senate are in session together. Like do you think in here comes irma now a category fife tomorrow on track to arrive florida declared an emergency in all county website the message is clear, be prepared. Well harvey is gone but theres a lot of south texas thats still waterlogged parts of houston still throeded. And about a new estimate suggest that up to 300,000 homes suffered damage. U now, with all of that, you might expect a harkt selloff. Stay right there. Well show you whats happening to your money. Varney and company is about to begin. Here we go. Were going to be down at the opening bell you you know with all of these crises occurring all oh the place you might have expected a bigger selloff down 60 points thats all. Were still is a couple of hundred points away from the all time record high heres whering action son the market gold thats a one year high i think, at 1336 up another five becomes that is all about north korea. The price of oil this morning, hardly changed still around the 40. Actually up a buck now a 48 dollars barrel. But the real action in energy is at the pump where youre paying a lot more. Average price for gas nationwide is now 2. 65 thats up roughly 30 cent this is a week. Increase, increase, however, thats slowing down. It was only up one cent overnight wholesale is down yesterday down again teatdz and by the way big pipeline set to reopen today so the spike may be just short lived. U now we have a tweet from president first thing this morning it is this this part, big week coming up. Actually that was the entirety of his tweet this morning. Hes turning his focus to tax cuts, of course, and joining us is fox news contradict tore James Freeman you think that president is going to win this one. Dont you . Yeah, i think because i think republicans in congress understand they have to get this done. If they just save themselves politically if they want to get reelected next year, one, they have to have an achievement and they have to have a faster growing economy despite senator mccain saying that the president is pourly informed that hes i forget other word he was hostile and critical and a lot of other senators are critical and hostile too. So mccain is always unreliable volt on these kind of issues, obviously, he bares something of a grudge against President Trump, and really who can blame him for the president s comments about him during the campaign. So i think mccain is just a fact you have to deal and understand, and theyve known that for a long time you still got to get the 51 votes. Now on our program last week theres gary for the tax cuts within the white house. Listen to what he said when i asked him if the president s main focus is tax cuts for the middle class. Watch this. With the president spend his time on and what weve been working on in the white house is a middle class tax cut he talked about simplifying tax system, and he talked about get thing rid of loopholes middle class doesnt take advantage of the loopholes wealthy take advantage of the loop hopes so he talks about getting rid of loopholes hes talking about areas with a wealthy have used the tax code to their advantage to lower their taxes while the middle class does not have the advantage to take daughter of those loopholes. Detail, he suggest that maybe theyll get rid of that deduction for state and local income taxes, at the state level. Thats a huge hit on the rich. Yeah. That would be fun. But im not sure why so many people on wall street think gary cone is the key to progrowth tax reform here. I think good one. Should get rid of that state and local deduction thats good. By all means cutting into middle class taxes but the priority has got to be growth, and so its a cut in that corporate rate which is where you get more jobs. You get more by companyies in the United States so thats how you get job creation and remember be creful the reason you want to cut rates across thed board is, if you cut middle class rates thats wonderful but if you keep the much higher, high end you have a situation where people, become more successful they have a huge tax increase. As they get to a higher income level it is bad for incentives for growth. You want people to be encouraged to earn more. Let me summarize it like this, what had were being told is that there will be a middle class tax cut but wont be a tax cut for weament people therefore will not be that stimulative of the economy all of that is accurate . Again, nothing wrong with middle class tax cut but the bottom line is got to be groat. I think they awlgt to cut rates. Cut corporate rate and dont worry if hes got a message for the big six today the president ought to be saying, dont try to solve all of the problem ares of the u. S. Tax koatd. We have a few week this is year to get this done, we can come back 2019 if theres more to do. Got more shortly attorney general Jeff Sessions hes going to make an announcement this morning about program that protects i think 8h,000 illegals who arrived here as youngsters protect them from deportation. All rise hes back judge Andrew Napolitano. It appears that look younger than last time i saw you. [laughter] this is way we understand it but with a six month delay this is what the constitution requires isnt it . It is. We know that because the fifth Circuit Court of appeals ruled that president obamas 12 executive orders setting out procedures through which young people have to go in order to forestall deportation were unconstitutional because only the congress can right rules like that. Now, president obama reduced this to writing, but by in reducing it to writing, he was doing the same thing that every one of his predecessors going back to Ronald Reagan can did. They just didnt reduce it to writing which made it easier for somebody to challenge it. Even donald trump as we speak is following daca. Where did you stands on this . I say at the end of the day those 8 had 00,000 people youngster most of them will stay and im happy about that. How about you . I fully agree with you but morally, legally economically catastrophic to send it a country where most of them have no memory of having been 800,000 young people theyre students. Theyre Young Professionals theyre not the type of criminals that the president railed against when he was, when he was candidate trump. I think he can win points by encouraging the congress to do its duty and write the laws in such a way that these people can stay here. Gliewrt we agree on this. We do. Happy had tuesday. You must have had a wonderful vacation. Let me tell ya. I know well agree on glee in london. Get to that in a second stay there. Does freeman want to come back on this show because he said there should be no Tax Deduction for state and local taxes i heard you gasp. I want the latest on harvey i have to tell you parts of houston are still flood in part because of the release from quarter from reservoirs. Jeff flock is near the reservoir youre heading to check on a couple which refuses to leave their home i think, there . A young couple we met last week said think werent going to leave look at this water ten days out from the hit had of of the hurricane and look at this water this is stuff that didnt flood during initial flooding but it flooded because of the reservoir and this is the house well theyve got curtains drawn up now. Can you see that david. Thats why they have been held up they finished renovating that house a young couple they said weve got water. Were going to stay everybody else many this neighborhood stewart is out as you can see this water is way up. Heres the headline two headlines one they say this flood water will stay up they think until october. And two, most of these houses do not have Flood Insurance because it is never flooded here before. Whos going to pick up that tab . All right jeff back off briefly wheel you see whats happened to that couple and had many touch with you a bit later in the program. Good stuff jeff flock as usual. Got it. Britains royal family is expanding. The duke and dutchess of cam bring expecting another child silence ashley. It is for the judge yes. Fouryearold jog twoyearold charlotte will have another sibling and who will be fifth in line to the throne by the way which bumps harry down again and again and again to harry if you care, judge who is rolling his eyes his bumped down but this will be the queens sixth great grandchild thats quite an achievement. Youve got ten achievement for whom . Youve got ten more. Having a baby. Ten more seconds to state not only a royal family broking but the welfare state is growing. [laughter] thats all this is is welfare on the grandest of scales and you know it. I wonder what proportion is on your are side . Vast majorities of people who are concerned about the value of the dollar. Rubbish as we would say. By the royals another 30 seconds. [laughter] arent you glad im back . How do you complain fascination with the royals . That is one argument in favor of the continued existence of this useless medieval institution that it is [laughter] it is a tourist draw. Much like the tower of london where beheaded is the tourist trough. Dges now youre done. Just kidding. [laughter] thank you judge. See you later. You might. [laughter] were going to be down to opening bell but not as much as you might expect. North korea et cetera, political turmoil running down 60 odd o points thats it. Now, this, i love this had one. J. J. Watts star on Houston Texans a star off the field as well already raised what nearly 20 Million Dollars for hurricane victims. Harvey spent his weekend handing out foods and supplies, mow by the way, there is a push to name the a street in houston after him. All right. North korea claiming to have successfully tested a Hydrogen Bomb Biggest Nuclear test to date. Defense secretary of sate is with a military response heres the question if north korea test another missile are we ready to shoot it down or what happens if we do . More varney after this. Rethink whats 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. North korea explodes what they say is a Hydrogen Bomb listen to away when defense secretary hat had ties had to say about a possible military response. Roll tape. We made clear to defend ourselves and south korea, and japan from any attack in our commitments among the ally our ironclad any threat to the United States or territories including guam, or our allies will be met with a massive military sons, a response, quote, effective and overwhelming. Chair of the American Defense international is with us. Van, Defense Military mattis tucked about a threat if they launch we have to shoot it down and what happened if we do . It depends whats on that missile and where stuart we will not know. It depends what kind of intelligence this president has thats why ive been advocate for this president having intel available that includes open Source Intelligence, give an example. All of the Mainstream Media saying this nuclear test this Hydrogen Test this weekend was this first Hydrogen Bomb test of north korea. Stuart i believe it was the second go back to january the sixth of 2016, we detected a 5. 2 magnitude that nation and Defense Agency thought it was a Hydrogen Test, the north korean said it was the Obama Administration quickly came out and it wasnt because it didnt fit their narrative because yes iranians were on the ground and right now on the ground in north korea right now. We cant just let them keep launching missiles with no response from us. We have said its a threat. Well deal with that threat. We cant let them launch another one and just let them launch it. I mean, were theres a clash coming here and clash occur when is the necks one is launched, surely are we in a position to shoot it down . Ier. And were at the end and now is time to play all of the cards were holding. A lot is happening i believe for example underradar in north korea. We know that people were starving there and hunger but stuart is right now today, their Crop Production is onethird less than what it have this time last year and having trouble feeding their own army. Theres listen to this kim jongun now hired ten agents to train his body guards. Hes feeling a little insecure right now we need to do what we can to exasperate that situation there on the ground. How about this President Trump just tweeting this morning he says, im allowing japan and south korea to buy be a substantially increased amount of highly sphis sophisticated military equipment from the United States can you ever see the day coming van when america, japan, south korea, and maybe even china launches an observancive a military offense against south, north korea and its miss had implacements. Putting pressure on china what hes doing now talking about actually not only going after north korea. But those country who is trade with north korea i. E. China i think it is tile to go for the chinese banks they have gotten off and laundering money to iranian one suggestion that i like is to declare them as International Money Laundering Organization under patriot act and feel serious economic pain there. Stuart big day that im looking to and concerned about is september the 9th. That is their fourth of july north korea. And open Source Intelligence is telling us that there may be a joint iran north korea test of that joint iran, north korean militarized knew u clear warhead on icbm or may be submarine launch. So september 9th is the date im most concerned about. Well keep that in mind. Thank you for joining us well informed thank you, sir. Ive got remarkable video for you from houston. A fleet of monster truck ares massive clearance basically thats what youre talking about driving straight through the flood waters to rescue stranded residents and talk with the guy who had a plan to use o trks as rescue vehicles. They worked. Meanwhile hurricane had irma, and gaining strength in the caribbean, just upgraded to a category 5 storm. Could make landfall in florida this week. Janice dean has the latest after this. Today, were out here with some big news about type 2 diabetes. You have type 2 diabetes, right . Yes. So let me ask you this. How does diabetes affect your heart . It doesnt, does it . 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Symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. Do not take jardiance if you are on dialysis or have severe kidney problems. Other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Tell your doctor about all the medicines you take and if you have any medical conditions. So now that you know all that, what do you think . That its time to think about jardiance. Ask your doctor about jardiance. And get to the heart of what matters. So we need tablets installed. With the menu app ready to roll. In 12 weeks. Yeah. The world of fast food is being changed by faster networks. Data, applications, customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Fast connections everywhere. Thats how you outmaneuver. Stuart Hurricane Irma is now a category 5 storm. Puerto rico and florida are in its path. By the way, both declared states of emergency janice dean come on. You told us all about harvey you have it dead right tell us all about irma had. Strongest hurricane that we have seen in the Atlantic Basin in a decade and at pits peek hurricane had katrina was at 175 miles per hour. Which is what irma is right now. Category 5 storm im concerned for you puerto rico as well we could see the potential for some effects to be felt in cuba, but theres the line that were watching however, if you live north of this cone south of the cone i still immediate you to be paying close attention. Waters are warm here stuart. Still looking at a potential category five storm within next 24 to 48 hours and then it might weaken depending on how much land interaction we have but computer model in good agreement to friday are bahamas welcome south florida, keys paying close attention and then, will it get picked up but a trough but heres what i want to point out five days is a lot of time in weather forecasting so east coast, you need to Pay Attention. Florida keys and gulf of mexico also need to pay close attention to irma. A very dangerous storm stuart, im very concerned for folks in its path. Back to you. Were glad youre with us janice dean thank you very much indeed. If youre waking this morning expecting big selloff on the stock market, probably wont happen at the opening bell socks will be down. But not that much. Surprising baring in miepsd the back drop to the news to the wall street today. Well be back opening bell moments away. Im living that yacht life, life, life top speed fifty knots life on the caribbean seas its a champagne and models potpourri on my yacht made of cuban mahogany, gany, gany, gany watch this dont get mad bell mnemonic get e trade and get invested Tuesday Morning, sepght the ath we just coming a you have a long hall day weekend a Labor Day Weekend you feel good, ash . Refreshed. Stuart if youre when i woke up this morning i thought you know for sure the market going to sell off big timing when we start things going. But its not going to happen not at least in the very, very early going. Well open market in 30 seconds and despite the nuclear test from the North Koreans despite the political ranking thats going on, i mean big tile in washington, d. C. Despite the return of the politicians to d. C. As of today despite all of that, the market opens in about ten seconds and will not be a huge selloff. Were expecting look at the piewches were expecting a loss of maybe 50, 60 points lets see were up and learning it is tows and thursday back up a three day, and plenty of red in the article going, and a lot of red actually the down 75 points. Uhhuh not quite a catastrophic selloff but it is a selloff and become to 219. May i point out were still only 200 points away from the record all time high. You may point that out. And not grasping a straw, certainly not. Plenty of ready on the lefthand side of the screen thats a loss of third of one for the dow, and s p 500, is that down and similar percentage terms, yes between a quarter with and third of one percent. How about the nasdaq lets see if this big sell hg many the Technology Issues down a third of a percent also major indicators pointing in sate same slight sly down direction, and dow is now a isoff 69 points and now price of oil on upside today, a campaign of a buck 26 back up 48 per barrel, the price of gold again moving higher i think this is a oneyear high. 6 bucks up, 1,337 per ounce. All right, Tuesday Morning who is with me . Ashley webster is here keith fits as in fitzgerald i should say, and jeff speak as is seeger i would suggest it is the possible, the hope of tax cuts that is holding this market up. What say you . Absolutely it is the hope of tax cuts and what we have to realize is that market is stalled because you can never underestimate the incompetency of probably the most ineffective congress weve seen in a very, very long time. So although trump and cohen had have a very, very is good plan for tax cuts theres a lot of investors that are worried that congress is going to find a way to mess it up because they found a way to mess up health care an may do it again. Keith come on in please i want to ask you about gold up again today. Do because of north korea folks like you actually buy gold mining shares or do you buy a little golgd gold coin never known you investing gold do you now . [laughter] well i dont now i hold a small amountful gold and i encourage people to hold gold between 2 and 5 what studies show take the sting out of o events like this but right now that train left the station i think what you want to think about is backed by Economic Growth so youre not just buying stability. Would you buy gold coins or gold mining shares . Keep in mind gold is a psychological trade theres a lot of going on right now. And i think theres also a real necessity to diversify out of stock, and options are limited which is why market is gone up as much as it has. So yes i would say buy gold. I think its a good diversifier central bank precincting of money creating value and gold thats thats so off the question is being propped up by hopes of tax cuts it it is market is moving sideways so basically entire summer and propped up by decent earns and economy generally fading in right direction at the pace we like no. All of it depends on if we can get positive news out of washington we can move the next leg up and waiting anxiously. Down in the early going down 78 points 29 9 is where we are. But were off. Lest see what happens in washington a big six meeting in the white house. Good word out of that. Stuart all right now President Trump is threatened to cut off actually it is steve treasury secretary he said look any any country that does business wz with north korea cut them off no trade are with them. And does that include china . That sounds a bit like here comes trade war with china, about north korea. What say you . You know im remindinged of that film dumb and dumber 600 billion youre going to throw that into the wind and harm American Consumer to prove a point i dont think so. Theres another way around this, an i cant see that happening with china. They may talk a good game but not going to happen. No action likely. I have to talk to you about price of gags if youre tuning in this morning see what happened with gasoline over the weekend i tell you now this Tuesday Morning National Average is 2. 64 per gallon. However, weve seen that the rate of increase, the spike has really slowed down. So jeff seeger, will prices come down as fast as they went up . Prices never go down as fast as they go up but heres whats happening. The refineries are coming online but we have this ominous po threat of ere ma going into the gulf of mexico that could rep finery in the gulf of mexico. Thats why oil is up. 40 so you have to Pay Attention to that. Gliewrt what do you say keith . Price of gas never come down, as fast as it went up. Thats accurate in the left bank we pay more because of the taxes and Everything Else but look at another 25 cents or so if irma comes ashore because it is a supply issue. Thats news so if it comes ashore gas goes up some more not thought about that actually. Perjury it turns up north maybe not so much. But gas prices price go down ire because reare finery werent as damaged as they it thought they would be from harvey thats a good piece of line. Pipeline is active again. Holiday yeah. So five and a half minutes into the first trading session after threeday weekends and were down 85 points. 219 is holding as we speak. But barely keep that shot up for long enough and drop below 299 lets move. The dow component as in United Technologies thats theyre beginning to spend around 30 billion dollars to buy an Aircraft Parts maker a giant Aircraft Parts maker Rockwell Collins united tech is down 3. Thats a two and three quarters percent if a dow stock so that is hurting overall market. Up a buck 47, 132 there and afterall we have a threat from north korea and defense stocks are largely higher except for boeing and General Dynamics now this, krrk oh of the pharmaceutical giant is name is joe hes announcing hes stepping down in january. No reaction on the market pretty much dead flat. Now this, apple making a change that is executive ranks theyve gotten rid of the guy who used to run the program. Theyre reare placed him with somebody else. Looks like apple is falling behind many that area. You know the personal thing, theyre falling behind amazon. Heres why this guy had to hit the brick first of all apple was First Company to coming up with the voice activated device. And they gave up their market come to mans to google and to amazon so he failed to do it for throw them out bringing in somebody else and you know what apple who has w. H. O. Has become notorious for if rolling out new version of old products they blew it on this one. Lets see if this guy could make it happen for them. Oaks, and apple stock is a fraction down on this news this morning. Now, yeah there they go. But 163 feeling awfully close by the way the new phone is revealed on september the 12th which is what a week away that will be next week i think. Right. Now, the New York Daily News theyre getting new owner, trunk they already trunk ly name the Los Angeles Times the Chicago Tribune, now theyre buying this new york tab loitd for one u. S. Dollar. Keith, theyre all left l. A. Times, Chicago Tribune New York Daily News are they going to survive . [laughter] but theyre also capitalists stuart and thats a good thing because what youre seeing is consolidation that tells me money is on the move theres value to be had. I dont know how they define that because personally i dont look at the newspaper business as profitable. But nonetheless somebody does and thats driving this traction. J remember economist magazine and the great capitalist Magazine International wonderful free market, they endorsed barack obama for a second term and i canceled my subscription after 40 year of read aring it. Dont tell me that lost is in favor of capitalism. What did you say still in business. [laughter] lets get serious. [laughter] director of la la land, teaming up with netflix making a musical series called eddy set in paris. This is another example of netflix stocking up on original content. Im a big fan of musicals but netflix who would have thunk now all Time Favorite musical. Sound of music. Stuart really okay. Seven brides jersey boy. Keith what is your favorite musical . [laughter] you know im partial to old i like brig dune . Broadwayset. Thats really old. All right moving on roku is going to be public. A box that lets you stream tv show instead of a monthly cable bill. Is roku late to the party im asking is keith . I think they are. But again if they have technology theres valuable somebody else will snap them up. They unlike jimmy they have something thats interesting that gets them around the Cable Network not to mention high subscription fees. Stuart should we be worried dow is now down 103 points . You think this might start something, jeff . I think it is. First of all, you know, the tax cuts discussion and the fact that the fact that china has to get involved with the north korea situation, is bringing some tension to investors and they rather sit it out than worry about something bad happening. Okay. Theres a sell not when i use word selloff you have to be careful down what a third of one percent. Not plummeting. Thats not exactly no. Its not. Thank you very much indeed keith and jeff good stuff. Appreciate you being with us on a Tuesday Morning. All right, now again the check were down triple digits. Were up 102 points 128 is where we are. Back in texas touring flood ravaged houston the question is how well is the president handling first Major National disaster crisis . Former governor Mike Huckabee joins us next. Trouble for hollywood. This have been worst labor day Movie Theater weekend for 30 years. We have some numbers for you after this. Stuart triple digits loss for the dow strils in the first 13 minutes with with a business. 218 is where we are. You know, it was a terrible summer at the a box office, for hollywood, and they just had their worst Labor Day Weekend in decades. But come on in nicole give me numbers. How bad wases it . Its pretty bad did you go to the movies on labor day and all summer in year over year numbers down about 6 so far through august 31st, 7. 47 billion compareed to 7. 9 billion. So we are seeing weak pns for the year the stock well they look just fine here. Right a mixed bag. Year to date they are pathetic down 50 regal down 5, and losses for the year, and the summer maybe down more than 14 . Compared to the last two years and Labor Day Weekend not have a new release you know the last tile that happened was 1992. So with no new release it look like it would be worst labor day in 30 years now here is the deal. The Value Investor might step in and pick up big loser stocks because, you know, whats coming star wars and that will be december 15th, 2017 so a lot of bets on star wars, and blade runner for Box Office Revenue Going Forward in the rest of 2017 but even is streaming stuart. I dont know i havent been to Movie Theater all year. You . Ive seen one movie that was done kirk youre right. That was one of the hits. Its all streaming thats what it is. Nicole thank you very much indeed back to you later. President trump, he spent part of the weekend in texas. Checking on the recovery from harvey, come on in former arkansas governor Mike Huckabee governor the left tried to have a go at him by saying he lacks empathy. I thought he did a terrific job hes right on top o of the problem. What say you . He was hug hadding people. He was kissing little children if he doesnt kiss them, he doesnt show empathy. Im expecting somebody on the left to say that because he hugged him he was sexually harassing them. I mean, this is out of control stuart. This is a man who has done everything that a president supposed to do in backing up the governor, the mayors of those comungts, giving them resources they need, and he has shown empathy for heavens sakes. But look they hate donald trump, more than they love the victims of harvey, thats where this stands. I think youre absolutely right governor you really are. I want to move on to it looks like young immigrants dreamers it look like theyre going to get a six month reprieve and then the president will let congress coming up with a final solution six months down the road. I think look, let me tick a position here. I think thats a good thing. I want these 800,000 to stay. From the out i do. I think it is good for the economy. It is good for america thats the kind of people we are what say you . Well, i agree with you stuart i fought for that when i was governor try to get legislation through. That would allow kids who have been been here for their whole lives theyve gone to school here and speak english and nothing to do with their parpghts coming illegally and you dont punish a child for something that a parent does like giving child a ticket for sitting in a backseat of his car when his father was speeding. So i total agree. Now what i think the president is doing had is absolutely right saying to congress, this is a legislative issue. President obama in 2011 said he couldnt coit by executive order and then turned arranged and did it. President trump is saying to congress get off your butts and do your gene i think last dreamers in america are not just these 8h,000 dream rs are people who congress to do what they were elected to do. So i think that president is saying to them, balls in your court ill sign the legislation. But i cant unconstitutionally just do something that you guys dont have the guts or will to do. Stuart constitutionally correct that this is the job of the legislature. No question about that. Constitutionally, and it looks to me when i look at the statements from speaker ryan, and nancy pelosi, looks Like Congress can coming the to with some kind of deal that lets almost all of them stay. You agree with is that . Can, yes. Will they do it . I dont know. This is the most remarkable congress ive ever seen theyve got the votes to lower taxes. Defund planned pardon hoot repeal and replace obamacare. Theyve got the power to do it. But they havent done a darn thing. So if they cant do this, something that even the democrats say they are desperately wanting to do, then everyone of them should go to the capital steps to resign and say, pick out 535 people from the various phonebooks across america, they cant be any worse than we have been. Damning krit are schism there. Good for you. Governor huckabee. Tell me im wrong. No, youre not. Youre not. We have to get used to the way politics operates in our society we dont really like how the sausage is made and this year has been a particularly bad example. Governor im afraid im out of time but give you the last word later. Thank you see you again soon. Where with are we now on that market down over 100 pointsz and still down 88 points actually. A lot of red left hand side of your screen. Treasury secretary steve Institution Says relief and raising debt ceiling should be linked. You cant have one without the other youll hear it directly after this. Approaching medicare eligibility . You may think you can put off checking out your Medicare Options until youre sixtyfive, 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. Thats where aarp Medicare Supplement insurance plans insured by Unitedhealthcare Insurance Company come in. 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Plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. Remember, medicare doesnt cover everything. 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 all right details just coming in from White House Press Secretary Sean Spicer has a new job. Hes joined worldwide speakers group. So hes going to travel around country getting fade speeches. His first gig will be in new york next week speaking at the annual conference for a large investment bank. Treasury are secretary Steven Mnuchin is talking about tieing harvey aid to the debt ceiling increase. Watch this. If the president and i believe that it should be tied to the harvey funding that our First Priority is to make sure that the state gets money. It is critical, and to do that we immediate to make sure we raise the debt limit. Lets be clear here theres a difference between the shortterm down payment of 7 billion dollars theyll volt on that separate tomorrow. What Steve Mnuchin talking about a bigger aid package tie to debt ceiling republican from arizona, and andy is with us now. Sir, a lot of conservatives will not like the idea of tieing harvey aid to the debt ceiling. Do you . I do not. It is swampesk exactly what had people said dont do. They said dont put something that is got some majority votes maybe consensus and stick it with something that should be modified or changed and thats where were seeing here. So whats got the votes. The aid to harvey the big package you saying that that does have the votes. But the debt ceiling does not is that what youre saying . Yeah thats what i would guess i dont know i havent done a whip count, obviously. But it teams so me that theres a lot more sensement and favor of providing aid than there is in raising debt ceiling. But you have to raise debt ceiling were not doing it yet but you have to hotsdz and you have to raise it you have to raise it. Dont you . Well you have to raise it. But heres the deal, youre going to combine it with something why arent you combining with a reduction in spending overall so you know theres a pathway to a balanced budget. Youre not going to see that now so every year it is same thing lets keep spending more driving the debt up, so that were over 20 trillion dollars and keep going. I think it will be 25. I will do take your point in principle no question youre right but this is practical politics. It conservatives continue to hold out hold out, hold out. You wont get any action. Just like we didnt have any action on obamacare didnt get it. Didnt get we still got. Conservatives o oppose original idea we still got it were still paying. Youre doing that to us on debt ceiling Everything Else . Thats i think its unfair to blame conserve tifers for all of this stuart i think what you get is a moderate crowd that says oh, lets keep what we have. Weve got a moderate crowd that say yeah we voted to get rid of obama care briefly lets not for it this time when we have a president who will sign that so you can keep doing business as usual which is what were not supposed to be doing but we have a change agent. End up with nothing youre toast. The gop is toast next year, and im going to have to keep on paying and so is everybody else in our audience. You hang on to principle and were always toast. Well, stuart, its a matter of hanging on to principle which is doing what voters asked us to do. Voters voted for chge so lets change. Lets change. If you havent got votes well sink. Andy look serious congressman all good stuff i appreciate your principle i really do come back to see us real soon. Andy biggs. Good to see ewe stuart thanks. A standoff trump versus republicans and the outcome i think is going to frame this presidency for the rest of his first term i have that coming up. Plus Jeremiah Johnson father of five including triplets will be following his story evacuated from his home in houston well hes back home, and hes going to update us on what happened in the next hour. That can be really serious. Especially for my precious new grandchild. Its whooping cough. Every family member, including those around new babies, should talk to their doctor or pharmacist about getting vaccinated. Looking for adventure this labor day . Holy smokes. Oh man, thats pretty intense. Look no further than chevrolet. This is a fast car. I feel like i left my soul back there. Wow. This has power head to the chevy labor day sales event and ride out the summer in a new chevrolet. Current chevy owners can use labor day bonus cash to get a total value of eleven thousand six hundred dollars on this silverado all star. Or, get 0 financing for 72 months on all tahoe and suburban models. Find new roads at the chevy labor day sales event. From godaddy in fact, 68 of people who have built their. Website using gocentral, did it in under an hour, and you can too. Build a better website in under an hour. With gocentral from godaddy. If there is no tax cut this year, we dont grow at 4 next year. It is going to get ugly. If you thought politics was a nasty business from Inauguration Day to labor day. Wait until you see the sheer nastiness emerge before thanksgiving. 4 trillion spending plan, the budget, debt ceiling deal allows the government to borrow more money. Big Harvey Relief bill tacked on to the debt ceiling all of that has to be done very quickly, plus tax cuts. Showdown is begun. Tomorrow a meeting with congressional leaders. Very soon, we will know who has the upper hand. This confrontation, this showdown, will shape the trump presidency. The second hour of Varney Company is about to begin. I want to break free, i want to break free stuart of course. I know that voice. Freddy mercury. Good song. Ashley great song. Stuart wake you up with that one. Check the big board to wake up to this, 96 points lower. Were under 21 nine. Remember, couple hundred points from the record alltime high. How are the big tech names doing . Most of them are down. Facebook up a fraction. Much apple recovering, 164 as of right now. The price of gold on the upside again. Now were up 10 bucks. 1340 per ounce. That is all about north korea. Insurance companies. Theyre falling. Sharply in some cases. Thats all about harvey and the newcomer, irma, which is approaching florida by end of this week. President trump meeting with the big six on tax reform today. They are Steve Mnuchin, gary cohn, paul ryan, kevin brady, Mitch Mcconnell and orrin hatch. Fox news contributor steve cortes is with us now. Do you agree, steve, first of all there is a showdown here, the president versus congress, and secondly do you agree, with me, i think President Trump wins on tax cuts. What say you . Stuart, i wholeheartedly agree and concur on both counts. In terms of the showdown, this will be a political showdown like we havent seen in quite a long time. Summer is over. Before very long the hockey season will start. In hockey you know they fight when they drop their gloves. Congress and both sides dropped their gloves. It is congress, more than republicans versus democrat and trump and people between washington, d. C. That is the real showdown. People like Mitch Mcconnell, in my estimation, paul ryan they have shown a lot of republicans on the hill they are every bit as much swamp creatures as some democrats are. Having said that i think trump does win this confrontation. Stuart by winning i say, i agree with gary cohn was on the program last week, he said hook, you will get hoer Corporate Tax rates, got that, that is fine with that. Lower individual tax rates, but upper income earners a lot of that money will be clawed back by ending deductibility from state and local income taxes. That is what i say likely in the longer term. Just give me 20 seconds on that. Stuart, i agree, when democrats grandstand, i think a lot of wealthy might go up. This is aimed to the middle class, most people need help, aimed at broad growth not just growth for 1 . Stuart if they end state deductibility for local taxes in new york, massachusetts, new jersey, california, the rich take a beating. That is a fact. Right. Stuart i want your opinion on the dreamer situation, the president may delay for six months, the protection which is now given to the dreamers. Say that is a good thing. I say ultimately congress will come up with a solution. That will stay. What say you . I agree. Listen, i have get empathy as an hispanic anson of a an immigrant, i have great empathy that they had no they deserve protection, wholly different category from adults that you will willfully violate the Immigration Laws. I will say this, president obama was incredibly irresponsible. He thought he was a king. Thought he could do it by executive edict. Thought could do it through congress. Get statutes to protect dreamers, fund the border wall and enact the raise act. If we do that in one big package a massive win for the president and more importantly for the country. Stuart hold on steve. I have to deal with another issue here. That is north korea. Listen to what u. N. Ambassador nikki haley said after kim jonguns latest nuke test. Roll that tape. Nuclear powers understand their responsibilities. Kim jongun shows no such understanding. His abusive use of missiles and his Nuclear Threats show that he is begging for war. Stuart Peter Brookes is with us, the senior fellow with the heritage foundation. Peter, if north korea shoots off another missile, our only possible response seems to me to shoot that thing down. That is the start of something really big. What say you . Well, if we feel like a Missile Launch a threat to us, whether it is guam, the continental United States, our troops overseas, we should shoot it down but there is a lot of things that could be done before that. There are a lot of things that could be done after that. Stuart wait a second, peter, how many times we said we would respond vigorously if they do Something Else . We said this before several previous Missile Launches. We cant let another Missile Launch go now do nothing about it militarily. I disagree. I disagree. I dont think we set any red lines. I dont think the president set any red lines. We have to react, if they fire a missile into the ocean, we have to fact, that north korea, is defacto Nuclear Weapons state. We need to respond accordingly. But coming in the direction of any of our interests, that of our allies, i think we should shoot it down. But that is a first step. That doesnt necessarily mean war with north korea. It could mean war with north korea. Stuart i want to bring to your attention what President Trump tweeted over the weekend. Here it is, the United States is consideration in addition to other options stopping all trade with any country doing business with north korea. Peter, does that, that clearly include china. Could we really cut off trade with china just like that completely . That is not likely, is it . It is not likely. But you can target individual and banks and other institutions that are facilitating trade with north korea. Look what we did with iran. We cracked down. Didnt get a agreement we liked. Im not sure you liked it but i didnt like it. The fact of the matter there are ways to do it. Iran traded with a lot of countries especially with europe which mainly could make it more painful with them. North korea, 80 to 90 of their trade foes through china. China is critical. You can go after chinese banks and other International Banking that facilitates north korea bringing luxury goods. That allows things for the nuclear and missile programs to north korea. There are ways of squeezing them. But very, very difficult. Sanctions are tough. There is leakage. Front companies and agents help people get around that for money. Stuart let me sum it up like this. You think there is still more room for diplomatic action . Were not at the point where military action is inevitable, basically where youre coming from . Yes, diplomatic and economic. There are security actions short of war we can take against north korea but i do not believe north korea will give up their Nuclear Weapons program. The fact we have to rely on deterrents and their understanding if they pick a fight with us, it will end very badly for them. They need to understand that. There are a lot of options of the getting to roll back this program i think is almost impossible. Stuart wellsaid, Peter Brookes. Thanks for joining us. Thanks for having me. Stuart the price of gold going up because of north korea. I want to turn to gas price. There is a spike, 264 is the National Average right now. Up another one cent overnight. Wholesale gas prices down 3 yesterday. Down another today. Ash, could i conclude the spike is slowing down . Ashley at this point, yes. Prices are expected to continue to decline where they should be by mid to late september. Here we are, september 5th, thereabouts. We have two or three weeks but were back to where we were. Part of the reason, refineries shut down and damaged to some exextent during harvey, not as bad as they first thought. Eight refineries back on board. Four more at reduced level. The big unknown is irma. Stuart irma. Ashley where does irma go. Will production be shut down as precaution. Were not quite sure where gas prices were. Stuart oil prices up more than a buck. Oil up because of irma. Complicated deal but hurricanes have quite an impact, look at that. 4dollars per barrel for oil. Congratulationses are in order. Prince william and the duchess of cambridge announcing they are expecting a third child. This will be the youngster, whichever ashley boy or girl. Stuart boy or girl, will be the fifth in line for the thrown. After prince charles, william, thinks first two children, Prince George and prince charlotte. Number three which of be number five in line. Which removes prince harry, does it not. Ashley bumps him down the list. Stuart not that he wants it. Lovely picture. Coming up, saving human life was not the only priority as houston were struck with what, 50 inches of rain last week. Pets needed saving too. Find out how many were rescued, how many are in need of homes and where theyre being sent to. We have the story for you. Favorite guest of our program, Jeremiah Johnson, escaped flooding in houston with his family of five, including the loving baby triplets. He is back home. Well get an update. Youre watching the second hour of Varney Company. You totaled your brand new car. Nobodys hurt, but there will still be pain. It comes when your Insurance Company says theyll only pay threequarters of what it takes to replace it. What are you supposed to do . Drive threequarters of a car . Now if you had Liberty Mutual new car replacement™, youd get your whole car back. I guess they dont want you driving around on three wheels. Smart. With Liberty Mutual new car replacement™, well replace the full value of your car. Liberty stands with you™. Liberty mutual insurance. Stay with me, mr. Parker. When a critical patient is far from the hospital, the hospital must come to the patient. Stay with me, mr. Parker. The at t network is helping First Responders connect with medical teams in near real time. Stay with me, mr. Parker. Saving time when it matters most. Stay with me, mrs. Parker. Thats the power of and. [ male announcer ] with customink, you can design custom tshirts and other great products for every occasion from the first day of school to game day and everything in between. With the best collection of styles and graphics to choose from, its easy to go online and create custom tshirts and more for all of lifes events. [ all shouting ] get Free Shipping and ontime delivery guaranteed. Go to customink. Com to get started today. Stuart i do declare. This is the low of the day. Were down 107 points. That puts us at 21880. Down 106 to be precise. We have United Technologies, that stock is down four bucks. That is 3 1 2 . They will buy out Rockwell Collins, up to 30 billion they are going to spend. United technology is a dow stock. That is big drag on the overall Dow Jones Industrial average. I want to go back quickly to jeff flock. Last time we saw him, he was helping a stranded family in houston. They refused to leave their hopes. Jeff arrived by boat. What is the latest, jeff . Reporter back in the neighborhood again, jeff. You wonder what places like like inside . Were almost up to our, were about as far as we want to go up to our neck here. This house over here, that you see, maybe some water gone down. About a foot. What does it look like . We to the pictures. With a fellow that went back in for the first time what it looked like. Everything is floating there. These are what these people are dealing with. As i reported last hour, most people do not have Flood Insurance. How they will recover from this is real good question. Look at this. Were 10 days out. Stuart just dreadful to see that kind of thing. All of us can associated with a flooded basement. This is a flooded house. You brought us the story, jeff, very well indeed. Youve shown us what it is like to be a human underwater there. Good stuff, mr. Flock. Well be back to you shortly. Last week you watched several pet rescues live on the program. Compelling live action tv. We want to know how the pets are doing. Joining us president and ceo of american humane, dr. Robert began set. Her organization set up pet rescue efforts in texas congratulations, doctor. Wonderful work youre doing there. Thank you very much. We have thousands of doctors rescued. More importantly half a million meals delivered to animals in rockport and corpus christie. Stuart you have literally rescued thousands, plural . Absolutely. Stuart okay. Where are they being kept . What are you doing with them . We actually have multiple shelters. In montgomery county, the woodlands, we cared for over 1000 animals. 250 dogs in our care right now. That is amazing. Veterinary care, livesaving food and water. It is terrific. Stuart youre waiting for owners to show up to reclaim them i guess. That is so important. Stuart some will not be reclaimed clearly. Thats right. Stuart are those pets up for adoption . We have 30 to 45 days to allow families to come to terms with the disaster before we reexpect them reunited to the animals. That is important length time to provide to make sure they have another place to stay. Were in louisiana operating two megashelters. They loco indicated with their animals. Staying in shelter with their animals. We have cats, dogs, guineaing pigs, rabbiters bird. Stuart where does your money come from . Great americans, community by community. Seeing their hearts broken by what is happening in texas. Stuart any other animals . Birds, hamsters. Exotic lizards, absolutely. These are our best friend. Doesnt have to be have fur an four legs to have best friend. Lizard might be a boys best friend. Stuart supposing you cant obviously get them all reunited with their owners. We got that. You have this time frame, 30 to 45 days. Absolutely. Stuart see if owners come in to claim. After that, i presume the wonderful creatures are put up for do hundred . Absolutely. Stuart across the country . Can you do that . We can ship animals out, more important to find them with forever loving home, their pet parent. Irma is coming. I recall ma makes me, very, very nervous. Were talking category 5. Were asking all pet owners, start your disaster preparation kit now. Microchip your pet. Collar with id tag. Seven to 10 days of pet food. Vaccination records and a great. What warms my heart. I saw shots like you. Animals rescued and put on john boats brought out to the floods. So many crates. Im so glad we learned lessons from katrina. Were learning how to evacuate with the animals. I have to tell everyone in the path of irma, if it is coming to you, always evacuate with your animal. Stuart after this interview, there will be a run on crates in south florida, guaranteed. That is a wonderful thing. No harm done with that. Thats right. Stuart dr. Ganzet. Thanks for joining us. American humane . American humane. Stuart thanks for joining us. Appreciate it. Check this out. You may remember this picture, President Trumps top Economic Advisor gary cohn. He looked uncomfortable as the president spoke about charlottesville. He is staying at the white house just to get tax reform done. Calls it a once in a lifetime opportunity. Well deal with that. Rethink whats 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. So new touch screens. And biometrics. In 574 branches. All done by. Yesterday. Banks arent just undergoing a face lift. Theyre undergoing a transformation. A data fueled, security driven shift in applications and customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Hello, mr. Deets. Every Branch Running like headquarters. Thats how you outmaneuver. Your insurance on time. Tap one little bumper, and up go your rates. What good is having insurance if you get punished for using it . News flash nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. Stuart the gossip is, youre laughing, you know what is coming, youre only staying in this administration to get tax cuts done. Is that accurate . Look, tax cuts are really important to me. I, i think its a once in a lifetime opportunity. We havent done tax cuts in 31 years. So to be part of an administration that gets something done that hasnt been done for 31 years is enormously challenging, enormously interesting to me. So yes, im very excited about being part of that team that is able to work on something thats that important. I think that important to our economy and that important to the citizens of this country. Stuart gary cohn, on this program, says, he is staying in the white house to get tax cuts done. Steve cortes with us still. Steve, he is very important guy. He is a tough guy. He is staying to get tax cuts done. Earlier in the program you said yes, he will get it done. Some form of slimmed down tax reform deal, tax cut deal, get it done. Still holding to that . I am. I also think gary cohn is exhibit a of donald trump, the businessman. He and donald trump dont agree on a whole lot when it comes to politics but they do agree on this. Trump is very smart to say i can take disparate voices within the administration including democrats and longtime donors to liberal causes like gary cohn to get this piece of legislation through. Mr. Cohn is exactly right, we need to get this done. It has been 30 years. The last time we had comprehensive tax reform was 1986. The top movie in america was top gun. I couldnt drive a car yet. This is time to do this again. We have a decade for slow growth for this country as a whole. For the middle class, no growth. The main reason i believe. Impetus for the trump movement. The trump electoral revolution. Congress must get in line. Gary cohn will get that done. Stuart steve, the market doubts this will get down. Were down to a new low, down 12. Rebuilding efforts in houston as Congress Heads back to work. They will sign immediate Harvey Relief bill. One conservative group wants to put the brake even on that small limited down payment. Back with that in a moment. 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That wed be downloading in seconds, what used to take. Minutes. That guests would compliment our wifi. That we could video conference. And do it like that. snaps if youd have told me that i could afford. A gigspeed. A gigspeed network. Its like 20 times faster than what most people have. Id of said. Id of said youre dreaming. Dreaming definitely dreaming. Then again, dreaming is how i got this far. Now more businesses in more places can afford to dream gig. Comcast, building americas largest gigspeed network. Now more businesses in more places can afford to dream gig. Times up, insufficient were on prenatal care. Es. And administrative paperwork. Your days of drowning people are numbered. Same goes for you, budget overruns. And rising costs, wipe that smile off your face. Were coming for you, too. For those who wont rest until the world is healthier, neither will we. Optum. How well gets done. Stuart i matehate to bring this to your attention. This is the low of the day. Were down 128. 131 points. Down 132. Thats a selloff. A modest selloff, but selloff nonetheless. Goldman sachs down, takes 37 points off the dow industrials. United technologies, that is hurting the dow also. Look at this, home depot on the upside. Maybe as houston begins to rebuild, you go to home depot for supplies. The stock is up 1 . 152. 32 minutes from now attorney general Jeff Sessions will announce the Administration Policy on daca, well bring it to you live. Several business leaders, particularly in technology, urging the president to keep the program. Let these people stay. Look at them right there. That is the list. Joining us mediabuzz host, howard kurtz, seems the media in its entirety supports having them stay, right . I have not seen an issue where the Mainstream Media, openly, unapologetically against President Trump on particular issue. Climate change. This feels more real because 800,000 people are affected. Business leaders as you know, leading republicans, paul ryan, orrin hatch, calls for continuation of the program. What is minimized by this, missed in the coverage, the reason president obama did in the 2012 campaign, the fact not just the substance but he did it by executive order. That is why it is vulnerable being reversed by President Trump. Stuart i think the president is punting on this. He is giving congress six months. Its a reprieve for the dreamers, the 800,000. They will not be deported in the next six months. At end of that time, congress has to come up with proper solution. That is constitutionally correct. Its a bit of a punt and a bit of a reprieve for sure but the odds of congress doing anything on this, when they are unable including broader issue of illegal immigration are probably not that great. I think we see a little bit after sidestep. President kicking it to congress and letting Jeff Sessions make the announcement. Not making it himself. Stuart at end of the day i dont think the 800,000 youngsters will not be sent home. They say. What about you . I suspect youre right. The president promised in the campaign to end the program. He is in a little bit of a difficult position. Stuart a lot of things changed. You recover fast howard. Welldone. Howard kurtz, thank you. See you real soon. Now this, the house is expected to vote on 7. 85 billion funding, immediate down payment funding on Harvey Relief. Heritage action for america, Vice President thereof, dan holler is with us. You have concerns about this this is just the down payment. This is not the big bailout. This is not the big relief effort. This is just 7. 8 billion. You dont like it . No. Stuart. We have minor concerns. Overall when you want to see Congress Respond to disasters like we saw in the houston area, you want to see them do it appropriately in a fiscally responsible way. The bulk of the money the house votes on is truly emergency in nature. 450 million goes to the Small Business administration doesnt meet the definition. Overall the package is what you want to see. The reason we called out 450 million, to lay down the marker, as the packages get bigger down the line we dont want to spiral off with sandy situation where 10 years of spending is emergency situation. Stuart you dont want to hold it up with inner party wrangling. You really dont want to hold this up, do you . Everybody, republicans, hopefully democrats believe we need appropriate tailored response what we have in texas. As long as people move in the process it will move with record speed. The moment you interjects wasteful spending or emergency package or try to tie it to the debt ceiling or where the administration talked about over the weekend. Stuart that is a fair point. We have to come back to this if you continually object to so many things on ground ever principle, on the ground that the legislation proposed is not absolutely perfect, you end up with nothing. That is the danger here, isnt it, dan . Just like what happened with obama care, we ended up with nothing. Yeah. There is certainly needs to be understanding how to get things through the legislative process. What we want to do in the specific situation, that 450 million, that is going down the wrong path. Nobody will object this time. Were sending a signal. This is not what you want to be doing as the relief packages grow. We want to make sure Congress Respond to needs going on in texas. If they can do that in fiscally responsible way. That is what you want to see. What voters want to see. If they do that, honor their commitments. They do right by the people in texas and do right by people that are taxpayers. Stuart the last thing we want to see relief for alaskan fisheries as we saw for superstorm sandy. I understand your point. Lets not hold things up at this point. Dan, always a pleasure. Thanks for joining us. Thank you, stuart. Stuart we have come off the low for the day of market. Were down 125 points as we speak. A lot of news going on. Were down 126. 21,860. Live on radio with us, brian kilmeade. Brian, what do you say about the immediate shortterm vote tomorrow on a 7 billiondollar relief package for harvey. It should sail through. Any problems you see . One thing we heard on Steve Mnuchin, on the sunday shows, might be chris wallace, looking to tie that with his logic to the debt ceiling. Stuart that is the big package to be tied to the debt ceiling, a lot more money than the seven billion voted on tomorrow. What do you say about tying to the debt ceiling, the big package of relief . The big package. Through your original question, should sail right through. Nancy pelosi and Chuck Schumer saying no problem. Some angry at some delegates in texas not voting for sandy, theyre over it. Looks like they will support it. Tying to the debt ceiling is fascinating. A lot of republicans do not want to see sandy aid tied to the debt ceiling. It could be over 200 billion. Steve mnuchin says well get to the debt ceiling quicker because of immediate money that needs to go out, why not tie it together . Congress, you have a agenda not to shut the budget down with budget and tax reform Everything Else that has to get done. Why not do this together. A lot of conservatives saying are you kidding me . Show me fiscal constraint, change in spending before we theoretically raise the debt ceiling. That is why it is there. Stuart we got that j. J. Watt, houston texan guy. He is hometown hero. He raised 20 million. He was out delivering supplies to houstonians over the weekend. He is doing the nfl here. Helping the football image. One thing about j. J. Watt. He transcended the sport. Not only because a great player, a great person. Last guy to leave when signing autographs. Always personable. It didnt take more than a few hours to put the fund together. Remember stuart, he wanted a Million Dollars. He wanted two. Now over 10. It is flooding in, you trust money going to him is going elsewhere, is going to the right people. Youre talking of course to the nfl who has the problem with the cowboy running back and domestic violence, who got suspended. Ezekiel, he got suspended, ezekiel elliot, for domestic abuse. I didnt do it. Im suing you, nfl. He gets to play. Ugly. Kaepernick situation. Not signed. Protesting. Ugly. Others taking a knee, not standing for national anthem. Ugly. Were not talking about patriots repeating. Giants chances of doing well. The jets tanking the season. J. J. Watt with brown boxes and millions of dollars with donated funds is the help the nfl needs. You know why . 95 of the men in nfl are good people. Organizations do a lot of great work. Headlines are stolen last few years by ugly incidents like this. Stuart they need good pr. J. J. Watt gives them some really good pr. The other thing that is eerie. We have the same build. I have pretty much the same upper body. A lot of people i am him. This is the difference. Im not j. J. Watt. Similar bodies but not exactly the same. Stuart did your people get together with my people to coordinate the dark suit, red tie . I will never have, Little Pocket hanky right there. Its a fake anyway. I know it. See. It is not real. I knew it. I knew it. What can you trust on tv anymore . Not even the pocket hanky can be counted on. Unbelievable. Ashley sad day. Its a suit customized. I can button. Looks equally good open, am i right . Can you ask the panel. Ashley the panel left five minutes ago. Stuart you had a wonderful threeday weekend. Now you cant button your suit. I know it. I know it, son. I do. Times up. Youre gone. Come next week, okay, son . No be sure to wear the same thing you have. Stuart absolutely baby. Coming up, Jeremiah Johnson. You remember him . Of course you do. He escaped flooding in houston with lovely baby triplets. He is back home. He will give us an update. Were back next. Ashley treasury secretary Steve Mnuchin is talking about the possibility of tying harvey aid to the debt ceiling increase. Last hour we spoke with congressman andy biggs of arizona and asked him what he thinks of that proposal. Roll tape. It is swampesque if you ask me. This is exactly what people said dont do. They said dont put something that got majority votes, maybe consensus, stick it with something that should be modified or changed. That is what were seeing here. Stuart so whats got the votes . Aid to harvey, the big package, you are saying that does have the votes. But the debt ceiling does not, is that what youre saying . Yeah. Thats what i would guess. I mean i dont know. I havent done a whip count obviously. Seems to me there will be a lot more sentiment in favor of providing aid than raising the debt ceiling. David taking another leg down. Were off 169 points on the dow industrials. 21,819. That is where we are. Some bigname companies contributing to the loss for the dow. Look at financials. Goldman sachs, jpmorgan, bank of america. Bank of america is dow stock, not on that list. Night the technologies way down. With the overall dow industrial average overall down. Back to hurricane harvey. Were following our next guests story for the past week. He and his wife and five children evacuated out of houston. Now theyre back home. Area nye yaw Jeremiah Johnson with us. The family with the wonderful, wonderful triplets. Good to see you. Wonderful to be talking with you from houston, texas. Stuart god bless you. When you walked back in the house, what did you find . Our neighbors around us. Almost a party atmosphere. These are neighbors not met before the hurricane. It was like a homecoming. There is such a spirit of love happening right now in houston. I think it is incredible what were seeing among the human spirit. But also among faithbased organizations who are helping one another. It is incredible. Stuart, you have twins in your family. Stuart i do. Normally like a hostage negotiation to get our triplets to go to bed. They were so happy to be at home last night. They went right to sleep. Stuart what was the conditional of the house . Bearing in mind you have baby triplets there. That is not easy, if you have a damp basement or flooding places. What was the condition . We were very worried when we were emergency evacuated but our levee held in the pecan grove my miu miu necessary pallet. Our home had minor leaks. We believe god spared us to help other people. Thats what were doing. Stuart one thing throughout the harvey period, was the frequent mention of spiritual life. Of religion, of god. I have never heard such an outpouring by the faith community, if i can put it like that, as i saw over harvey. Remarkable thing. Stuart, really is. For all those who are watching who werent spared, for those struggling like my parents whose home was flooded, here is the message we have for you today. When you open the scriptures there are 7,000 7487 promises to from god to us in the bible, 7487. Everyone is a promise we can hold on to. This is where faith is made genuine in our own life, when we faced a versety. This is the remarkable thing. Churches and faithbased organizations are absolutely intricate in recovery and building efforts. There are 350,000 churches in the United States and faithbased organizations. What are we seeing in houston play out now . Exactly what you said, stuart. Every Single Church stopped doing church as normal. Were doing disaster recovery. I love what my pastor said. There are times you read your bible and times you do your bible. Were doing our bible helping those around us. Stuart can i ask you to respond to something i often hear asked. What kind of a loving god allows Something Like harvey . Can you answer that . Absolutely. This is the question of why does a good god allow evil if he loves us and cares for us . Here is the beauty of christian message. Jesus christ is with us in every affliction. The scriptures tell us in the sermon on the mount which many of your viewers would be very familiar with, jesus says god causes to rain on just and unjust. It is vital not to rush to turn away from god in tragedy. That is the time to turn to god. He is with us. He is with us through his church. He is with us right now through our neighbors. He is with us through the stranger, doesnt matter the socioeconomic status, racial ethnicity, helping you. Theyre working through their faith. My attitude. Attitude of my family and Houston Baptist University where im a professor. Well be the hands and feet of jesus right now. This tragedy gives us the opportunity to step up to show the love of christ. Tragedy happens. Ever since the great catastrophe we read about in the book of genesis. We live in a sinmarch mared world. That jesus never forsakes us and allows challenges within the midst of the storm. Were seeing right now, beautiful story what is happening because of harvey people are coming together. Stuart i never seen such an outpouring on American Television in all my time in america. God bless you father. I should get the terminology correct. Professor. Thank you, my friend. Thank you. Stuart coming up irma now a category 5. Winds up to 175 miles an hour. Florida declared a state of emergency in all counties. Get ready. Be prepared. We have latest on the storms track. Kevin Kevin Kevin Kevin Kevin Kevin Kevin Kevin Kevin Kevin trusted advice for life. Kevin, hows your mom . Life well planned. See what a Raymond James Financial Advisor can do for you. Its a highly contagious disease that can be really serious. Especially for my precious new grandchild. Its whooping cough. Every family member, including those around new babies, should talk to their doctor or pharmacist about getting vaccinated. From godaddy in fact, 68 of people who have built their. Website using gocentral, did it in under an hour, and you can too. Build a better website in under an hour. With gocentral from godaddy. Ashley more bad weather heading toward the u. S. As Hurricane Irma continues to strengthen in the atlantic. Its a monster. Both florida and puerto rico declared states of emergency already. Fox news meteorologist janice dean joins us now. My mom lives, just south of st. Augustine. Good friends. Janice, linda, and vince, all my friend saying what do i do, ash . Do i get out . What do you tell them . You have to watch and monitor the storm because, ashley, now we have up greated this to Even Stronger storm. 180 mileanhour sustained winds. When you were talking about katrina, 12 years ago, katrina at its peak was 175. This storm is strengthening. Very rare to see this strong after storm on satellite imagery. Its a textbook hurricane. Very welldefined eye. Very powerful, deadly storm. If youre in this path you need to be completing your preparations now. Because it looks like it is going to be a 5 or at least the next several days, moving very close to san juan, tomorrow night. Watching hispaniola, Dominican Republic and haiti. Ba bahamas, were seeing threat of very strong hurricane over top of you next couple days. There is friday. Then south florida, the keys. Well have to watch cuba. This is center of the storm. I dont want you to let your guard down. If youre north or south of the cone here, just a quickly tell you, category 5, is highest you can have on the saffirsimpson scale. 180 mileanhour stained wind is off the chart. Look at computer models, very good agreement as we head into the weekend. Gulf, Pay Attention. West coast of florida. East coast of florida. South florida, east coast, watch this storm. Ashley janice, very, very disturbing. Miami on the bullseye. For non. Stuart i wonder if upgrading of the storm has anything to do with stock market selloff. Down 170 odd points. Ashley facing another catastrophe if it makes landfall. Those wind speeds. Stuart 180 mileanhours. Ashley, well be right back. At top of the hour. Here we go. Dont wait. Our 2017 models will be moving fast. You can drive a car. Or you can drive a cadillac. Come in now before the end of our made to move 2017 clearance event and leave with the perfect cadillac xt5 for your next adventure. Choose a low mileage lease on this xt5 for around 339 per month. Stuart moments from now Jeff Sessions will announce the plan for the deferred action for childhood arrivals, the dreamers. 800,000 people brought to america illegally as children, president obama gave them a reprieve from deportation. What will Jeff Sessions announce today . We hear it will be a 6month delay, the dreamers stay for now, immune from deportation. Then congress is supposed to come up with a longterm solution as the constitution requires. I think the vast majority will stay. Already speaker ryan and nancy pelosi seem to agree they will not be kicked out. Congress is in broad agreement, business want them to say. Polls show most americans want them to stay. The president will punt, given 6 months to figure it out and that is what the constitution requires. The legislature handles this part of immigration. The left will complain, why keep them under any future threat of any kind of deportation and conservatives will complain they want strict adherence to the law. Stay tuned for compromise, the punt, as the third hour of varney and company begins. Stuart attorney general Jeff Sessions will appear momentarily. The dow industrials our way down, 160 points. Maybe this has to do with Hurricane Irma which is strengthening to 180 mileperhour windss. Peter kiernan is with us, is it play a role . It is definitely going through the market that is the real concern about safety. If you look at what is going on in asia and our economy people saying what am i going to do . By a treasury bond. That means Interest Rates going down. The banks getting crushed, one after the other because their interest margin is down, interest margin is low and banks cant make as much money. Stuart last we want is another huge fix. After harvey looking at 100 billion. After irma maybe another big toll on the taxpayer pushing the stock market down in that chain reaction. There will be derivative benefits for construction, gm was back on selling trucks but right now we are in the eye of the storm and we are watching this hurricane. Stuart attorney general Jeff Sessions, listening. Good morning. Im here to announce the program known as dac a that was effectuated under the Obama Administration is being rescinded. It was implement in 2012 and provided a legal status for recipients for a renewable two year term, Work Authorization and other benefits including participation in the Social Security program to 800,000 mostly adult illegal aliens. It was implement it unilaterally to great controversy and legal concern after congress rejected legislative proposals to extend similar benefits on numerous occasions to the same group of illegal aliens. The executive branch through thune deliberately sought to achieve what they refused to authorize on multiple occasions. Such an openended circumvention of Immigration Laws was an unconstitutional exercise of authority by the executive branch. The effect of this executive amnesty among other things contributed to a surge of minors at the southern border that yielded terrible humanitarian consequences and denied jobs to hundreds of thousands of americans by allowing the same illegal aliens to take those jobs. We inherited from our founders and have advanced and unsurpassed legal heritage which is the foundation of our freedom, our safety and our prosperity. As attorney general it is my duty to ensure the laws of the United States are enforced and the Constitutional Order is upheld. No greater good for the Overall Health and wellbeing of our republic than preserving and strengthening impartial rule of law. Societies where the rule of law are treasured are societies that tend to flourish and succeed. Societies where the rule of law is subject to political whims and personal biases become societies afflicted by corruption, poverty and human suffering. To have a lawful system of immigration that serves the national interest, we cannot admit everyone who would like to come here, just that simple. That would be an open borders policy and the American People have rightfully rejected that. The nation must set and enforce a limit on how many immigrants we admit each year and that means all cannot be accepted. This does not mean they are bad people or our nation disrespects or demeans them in any way. It means we are properly enforcing our laws as congress has passed them. With these principles and duties in mind, and in light of imminent litigation that we review the Obama Administrations policy. Our collective wisdom is the policy is vulnerable to the same legal and constitutional challenges the courts recognized with respect to the df ea program which enjoined on a National Basis a decision that was affirmed by the fifth Circuit Court of appeals. The fifth circuit specifically concluded daca had not been implemented in a fashion that allowed sufficient description and foreclosed by congresss careful plan. In other words the Immigration Law Congress Passed foreclosed this possibility of daca. It was inconsistent with the constitutions separation of powers. That decision was affirmed by the Supreme Court on an equally undivided basis. If we were to keep the Obama Administrations executive amnesty policy the likeliest outcome is that it would too be enjoined too. The department of justice has advised the president and the department of Homeland Security that the department of Homeland Security should begin an orderly, lawful wind down including cancellation of the memo that authorized this program rejecting secretary deeds has chosen appropriately to initiate a wind down process. This will enable the department of Homeland Security to discuss the ordinarily change and fulfill the desire of this administration to create a time period for congress to act should it so choose. We believe this is the responsible path. Simply put if we were to further our goal of strengthening the constitution of florida and rule of law in america that moment of justice cannot defend this overreach. George Washington University law professor Jonathan Turley in testimony before the House Judiciary Committee was clear about the enormous constitutional infirmities raised by this action. He said, quote, in his testimony, in ordering this blanket exception president obama was nullifying part of a law that he simply disagreed with. If a president can claim sweeping discretion to suspend key federal laws the entire legislative process becomes little more than a pretense, circumvention of the legislative process not only undermines the authority of this branch, referring to the legislative branch but destabilizes the tripartite system as a whole so this is not a little matter. Ending the previous administrations disrespect for the legislative process is an important first step. All immigration policy should serve the interests of the people of the United States, lawful immigrant and nativeborn alike. Congress should carefully and thoughtfully pursue the reforms that are right for the American People. Our nation is comprised of good and decent people, want our government and leaders to fulfill their promises and advance and immigration policy that serves the national interest. We are people of compassion and we are people of law but there is nothing compassionate about failure to enforce Immigration Laws. Enforcing the law saves lives, protects communities and taxpayers and prevents human suffering. Failure to enforce the laws in the past has been our nation at risk of crime, violence and terrorism. The compassionate thing to do is end the law, enforce our law and if congress chooses to make changes to that law, do so through the process set forth by our founders in a way that advances the interests of the American People. That is what the president promised to do and has delivered to the American People. Under President Trumps leadership this administration has made great progress in the last few months toward establishing a lawful and constitutional immigration system making us safer and more secure. It will further, economically, the lives of millions who are struggling and able our country to more effectively teach new immigrants about our system of government and to assimilate them to the cultural understandings that support it. The substantial progress in reducing illegal immigration seen in recent months is almost entirely due to the leadership of President Trump and his inspired immigration officers the problem is not yet solved and without more action we could see illegality rise again rather than be eliminated. As a candidate and now in office he has offered specific ideas and legislative solutions that will protect american workers, increase wages and salaries, defend national security, ensure Public Safety and increase the general wellbeing of the American People. He has worked with many members of congress including in the introduction of the raise act which would produce enormous benefits for our country and this is how our democratic process works. There are many powerful Interest Groups in the country, every one of them have a constitutional right to advocate their views and represent whomever they choose but the department of justice does not represent any narrow interests or subsets of the American People. We represent all the American People and protect the integrity of our constitution. That is our charge. We had the department of justice are proud and honored to work to advance this vision for america and to do our best each day to ensure safety and security of the American People. Thank you very much. Stuart the president the attorney general did not take questions. It was a straightforward statement. The daca program has been rescinded and the attorney general is telling congress act because we need a new Immigration Law that will take account of these dreamers, 800,000 of them, the policy has been rescinded. I heard no talk of a 6month period under which congress has to come up with a new immigration policy. Ashley there was no timeframe, just winding down has been initiated. Stuart and therefore congress, you act, it is on your shoulders, you act. Politics editor chris walt is listening, rescinded, congress, act. Over to you, speaker ryan. He made much of and put a lot of focus on something republicans, even those who would Like Administration to go harder against, came to the United States illegally as children even though there are some in Donald Trumps base who would like this to be harsher and to look at these folks before immediate deportation, he goes to the beating heart of something republicans hate about the Obama Administration which is the use of executive authority to usurp the power of the legislative branch so he says here you go. Stuart peter kiernan, market watcher, what do you make of the attorney general . The attorney general rather than the president made the announcement, use the word circumvention is what was circumvented with Congressional Authority and what he is trying to do is make congress busier, they have to do something. There is a natural order of these things, 30,000 of these dreamers will roll off every month so that gives them some time to wind it down. They have a document that allows them to work and those will roll off a little slower but gives congress the time to do what they want and they are starting to see some noise from nancy pelosi and paul ryan to move along that path. Stuart tom paris runs the dnc and listen in, lets catch the tone of his remarks. Helping your neighbor. He gave his life, a dreamer, and hurricane harvey, trying to save people, he drowned. Those are dreamers who are american heroes. What does it mean to be an american . It means you serve your country like Lance Corporal jose gutierrez, an immigrant from guatemala. Stuart tom paris mentioning a dreamer helping in the rescue in houston who was around was an emotional presentation as you might expect coming on top of attorney general Jeff Sessionss statement at the daca agreement allowing 800,000 dreamers to stay has been rescinded. An emotional response. Dana lash is with us. I associate you as a conservative and imagine you have some thoughts whether or not the dreamers should be allowed to stay any longer. Tell us what you think. Always good to be with you, happy tuesday. I am pleased president has decided to end this phone and penn thing we saw with the previous it ministration and allow congress to do its job. This is Congressional Authority, not something that should come from the commanderinchief, the Branch Campuses congresss moved to make as Congress Needs to do something about it. People need to act and change hearts and minds. If they believe this should be considered and made into law, that is the beauty of america, you can petition your elected official and have them change that in congress but dont demand the president do it. It isnt speaker ryans hands at this moment. Here is a big thing. Of the gop are determined to change daca and fix for lack of better word daca and do nothing on healthcare, you will see a lot of republican voters, conservatives revolt over at. That would be bad messaging for the Republican Party headed into the midterm. Stuart i want to go back to chris, seems like the ball is in congresss court. Look Like Congress will do something to let the 800,000, most of them, stay. Let me express the opinion that is the right thing. I approve of that, that is what america is all about. There is almost no credible constituency for the idea of lining these people up for immediate deportation. As the president found, what sounded good for some small audiences in his primary campaign is quite impractical in a political sense while he is governing. Let me express cautious optimism for the republicans on this issue. Not only do i think they can deal with the question of what to do with this small number, this could be the start of something that gets rolling on larger Immigration Reform efforts. The reason they couldnt get it done before is republicans said they lacked trust in obama to do the enforcement to deal with those folks who were here. Handled correctly this could be the beginning, only nixon can go to china come only donald trump can sign coverage of immigration. Stuart fair point. You have seen Lindsey Graham and dick durbin try to promote bills, this will turn out as something good for daca in the end. This was just a memo in the Homeland Security administration, not an executive order, not a law. The people benefiting from daca were exposed, it could be wiped out with caprice, these are people who are working, starting businesses, paying mortgages and taxes and doing something legal and binding and lasting. Ashley according to Homeland Security you can apply for daca renewal applications and that buys you two year protection and you can do that through october 5th and if it is not honored, if congress doesnt act before march, assuming you havent broken the law you will be in the country. Stuart compromise in their favor. Ashley congress being pushed to act. Stuart data, come back in, forget the legality, forget the politics for a second, i america is the kind of country which should open its arms to these 800,000 people who are here illegally but through no fault of their own. Fda moral question, are you with me on this . It depends. I have a caveat. The United States should get to know who is coming into the country but at the same time those individuals, if you can apply for college, apply for a job, to become one legal citizen, you have this two year grace period and under the previous president you are a lot of grace period under daca but some individuals did not take advantage of that grace period, you have to show good faith in your country if you are applying to become a citizen, for the country to show good faith in you and if you have not taken that opportunity during the grace period to apply and become a legal citizen, go through things my friends have waited 7 or 8 years to go through, to become a legal citizen by doing it the right way i am not sure that should be considered. There are some, definitely not a dried issue, not black or white because you have to respect the rules of a sovereign country. Stuart everyone is making good points, at the end of the day that 800,000 people, almost all of them stay. Someone has to be the money counter, that would be good economically for the country. Stuart thanks for being with us, this policy statement from the attorney general is a big deal, thank you for the analysis. I want to look at the market, we just hit another low, down 180 points and back to this feeling maybe irma has something to do with it. And that is a sign, in the event of another hurricane hit. Some people picking goals but not that aggressively, a lot of people buying good old us treasuries, look what it means, the banks have less room to make money, the Insurance Company stressed, this could be the beginning of a very nasty hurricane season, just gotten their sea legs after harvey, not even and theres another one barreling down on us. Stuart this flight to safety is a technical expression, at times of trouble people walk into certain kinds of investments, gold, price of gold is going up, it is a one year high at the moment, that is largely because of north korea, 11 now, of United States treasury bondss, you know you will get paid no matter what, you will be paid so put your money in there. Ashley the more people do that the more the yield comes down and prices go up. Stuart everyone is buying, price goes up and the yield goes down, 2. 08 on the 10 year treasury, that is the actual flight to safety. Just so people dont get panicked, good things on the market, copper hit an alltime high, kink copper is 7000, only for one reason, because of global Economic Growth, plenty of good news in this market on a global basis. Stuart dow industrials would not be done 180 points if not for kroger, that plays a big role today, that is my understanding, 21806. We have been bringing you incredible stories of ordinary people stepping up to the plate when disaster struck in houston. These heroes saving people using monster trucks, pretty good idea. We just heard from attorney general Jeff Sessions, he has rescinded the daca program saying it is unconstitutional, the 8000 dreamers who have allowed to stay. Judge Andrew Napolitano on the attorney general next. Rethink whats 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. For tech advice. Dell Small Business advisor with one phone call, i get products that suit my needs and i get back to business. Stuart dow industrial down 170 points and took a plunge in the last 40 minutes precisely at the time that hurricane, irma, was upgraded to 180 miles an hour and still a category 5 storm and it is headed, we think, towards florida. That has hurt the stock market. Insurers with heavy exposure in florida, universal insurance holdings, United Insurance holdings, federated national holdings, all of them have exposure in florida and look up and go down, serious drops, 17 , 11 down, that is a hit on the insurers with florida exposure. Attorney general Jeff Sessions announcing protection for 800,000 dreamers has been rescinded. Here is judge Andrew Napolitano. I was going to think we had a 6month delay to stop the deportation, didnt mention that. Judge napolitano he didnt mention it in the way of saying we wont do anything for 6 months but he did have a 6month reference saying deportations cannot start until march 5, 6 months from today, and oblique way of saying congress has 6month to fix this before we start the deportations. Can the government deport 800,000 people, almost all of the lively americanized because they came here as infants and were raised here . It would be a massive undertaking the likes of which the department of justice has never accomplished. Stuart isnt it simple . What president obama did was unconstitutional. Daca was unconstitutional. Judge napolitano the fifth Circuit Court of appeal said so. Stuart it along comes Jeff Sessions saying that is unconstitutional. The legislature has to fix it lose the program is rescinded, congress, fix it. Judge napolitano this puts pressure on congress to fix it, allow donald trump to say to his base i did what i told you i was going to do and if Congress Changes the law there is nothing the president can do because he like barack obama took an oath to uphold the Lies Congress had written it, not if he wishes it to be. Of Congress Says these 800,000 young people can stay, donald trump and the doj cannot deport them. Judge napolitano i think that is the way it should be. Constitutionally the legislature has to fix it but morally i dont think we should be kicking out 800,000 people who through no fault of their own judge napolitano we happen to agree and a lot of people watching will, but think of what the fifth circuit said barack obama did, accused him of rewriting the law to his own liking, something which under our constitution the president cannot do. He took an oath to uphold the law as it is written, not if he wishes it to be. Donald trump may be in the same boat of congress if you cant deport these people. Stuart congress will come up to its own solution. Judge napolitano of Congress Says your in and donald trump doesnt want and theres nothing he can do about it. The flipside of what barack obama did. Stuart quick question on the harvey hurricane relief, Steve Mnuchin says harvey aid, the big aid package should be tied to the debt increase. You dont like the debt increase, your conservative. Judge napolitano a wont be tough from listening to a neighbor of mine in northern new jersey, the chair of the committee that writes this stuff, they are not going to be connected. The small government republicans, the freedom caucus, are determined to get serious concessions before voting to raise the debt ceiling and they dont want harvey to do anything with it. Stuart of conservatives getting away at a government down. Judge napolitano what will they do . Stuart not a default but a shutdown of the government, delay as well, they will never do it. Judge napolitano of the government fails to make a single bond payment, nobody is at fault. Stuart if we dont get an agreement on the debt ceiling very quickly the gop is toast. Judge napolitano the more Christmas Tree ornaments, i dont want to disparage the suffering by calling it a christmas treatment but more goodies politicians try to add to legislation raising the debt ceiling the less likely they are to get it passed. Stuart dont put it like a Christmas Tree. Judge napolitano they should not be spending any money they havent collected in tax dollars. He would prefer that in the best all systems, wouldnt you . Judge napolitano stuart im not engaging in you with debate at this point. Judge napolitano back to the monarchy. Stuart now this. Donald trump tweeted over the weekend, quote, United States is considering in addition to other options, stopping all trade with any country doing business with north korea. Peter morici, professor of economics, that i take it is a threat against trade with china, there is no way we will cut off trade with china immediately. Absolutely not. The purpose of the exercise is to isolate north korea and put so much pressure on them that they relent. What the president proposes to isolate the United States. In addition to china, germany is doing business with north korea and so forth, the path to fixing north korea is by putting pressure on china, making it so costly to prop up this regime that it does something to fix it and it can fix it. Stuart you wrote a book about this, no way we will stop trade with china. We have had imports of 1 billion from china, we are well over 1 billion in imports and they are our biggest lender. There are secondary ways to put pressure on, any bank in china like a bank of china that does business with north korea will be penalized in some way. Do i think it is going to convince kim jong un to abandon his Nuclear Aspirations . I do not. It is and is very step but he will hold onto something that was coming before i wrote the book, something we have been watching unfold for too long. Stuart another big issue is tax cuts, donald trump will be barnstorming the country in favor of tax cuts. Today he meets with the key negotiators for tax cuts. We heard from gary cohn that it might be a slimmed down, middleclass taxcut, lower corporate rates, top income earner rates and the clawback, nondeductibility of state and local income taxes. Do you think that looks likely, but we will get that kind of taxcut deal . If we do, would it be stimulative . Dont know how stimulative it could be, you are rearranging the tax, not lowering it much. The other thing to recognize is the middleclass doesnt need a taxcut. Look at the middleclass paid in taxes it is not much. Because of the succession of tax cuts, tax increases from reagan to democrat or republican to democrat, most of the tax is paid by the top 20 . That is why tax rates are so high on Small Business. The american middle class if you had together what they pay for healthcare and taxes is much less than what the middleclass paid in europe. They have a good deal. We dont have enough investment. Chuck schumer might not want to hear this but you cannot tax corporations so much they want to move to ireland because they will. The same goes for intellectual property, lots of ways to get money out of the country. We have to have a business taxcut involving the personal tax code. I like border tax adjustments, if we dont get those it will be a 10 year deal that expires because of the way the budget apps is written that is better than nothing. Stuart if we cut the Corporate Tax rate and the individual tax rate, client back with nondeductibility of state and local income taxes of that stimulate . That will stimulate. Who benefits from the Corporate Tax rate to give the shareholders do but so do the employees and many of their customers because it means they can charge lower prices. What you see at the core of this has to be rethinking our global position, we are too high, that is uncompetitive and wrongheaded, in the wrong place for too long, we should reduce the Corporate Tax rate, a tide that lifts all boats. Stuart that is one thing we can actually get. A big day today, i want to get to our coverage of the houston catastrophe if i can put it like that. It was a remarkable story last week, great deal of human suffering and an extraordinary case of rescue workers volunteering to be there. Case in point airport worker josh james used monster truck to rescue Harvey Victims from the floodwaters and he joins us right now. Welcome to the program. How many . They are useful because they have such extraordinarily high clearance. How many did you bring to bear . People say we have no use for those. With our group we had 10 of them, very tonight. The ones in that video, we actually called down to help us out. Stuart im used to seeing monster trucks in arenas, the youngsters get a great thrill but whose idea was it to bring flood rescue . We have high trucks everywhere but once we realized we were driving waters and normal truck couldnt get through we knew we needed bigger artillery and we had some friends, a group called rednecks with paychecks in dallas. Once we needed more help, they are more than happy to help. Stuart you realize how shocked many people will be when you say rednecks in paychecks in dallas, we are not used to hearing that is on tv. That is their name and they are stuck with it. Stuart we love it, congratulations on a great rescue effort done off your own back at your own expense, wasnt that terrific . We will are you on this program. I cant take the full credit. The guys the coordinated everything brought me and and did a phenomenal job, we had 3100 confirmed rescues from volunteers. Stuart well done, that is good stuff and we love it on this program, thank you very much indeed. Look at the price of oil, another outflow, another result of Hurricane Irma. The price of oil is up 1. 38, up to 48 per barrel, this is because Hurricane Irma could go over into the gulf and shutdown some production, we dont know for sure. That is why the price of oil is up, now look at the price of a gallon of gas, we had a spike and a spike appears to be slowing down, lets see what happens after irma. 2. 64 is the National Average for regular, we could go it was . 30 a gallon less. The wholesale price of gasoline has started to go down and that implies the spike we are seeing could be shortlived. Here is what is coming up, jeff flock in houston bringing us the human side of the disaster in a neighborhood that is still flooded. The water is up to his chest. Market coming back a bit, we were down 180, now we are down 140, blame irma. We will be back. Im living that yacht life, life, life top speed fifty knots life on the caribbean seas its a champagne and models potpourri on my yacht made of cuban mahogany, gany, gany, gany watch this dont get mad bell mnemonic get e trade and get invested nicole i am nicole pedallides, after four they the gains stocks are under pressure for the dow, gold is up 10, running to gold and treasury, concerns about north korea, 1430 of troy ounce, up 10 moving to the highest level after two weeks of gains, the highest level since september 2016, looking at gold miners and how they are faring today, looking at harmony gold, that is higher this morning. 3 , ryan gold, look at gold miners this year, 2017, stellar performance, up 50 . The trade is on. Stuart this just in, the president and ceo of United States Hispanic Chamber of commerce has resigned for the president s Diversity Council over the daca decision. Jeff sessions said the restrictions on deporting 800,000 dreamers has been rescinded. The hispanics chairman doesnt like it, he has resigned. What do you make of this breaking news . No more than grandstanding. There is a moral issue, no american wants to see these 800,000 dreamers deported. What will happen is a constitutional question will be addressed by congress. The president of the United States, president obama, acted inappropriately according to the conservative court. He will see Congress Acting appropriately although there is great pressure on congress, they will act appropriately and legislation will be passed, this is a separation of powers issue, a matter that should reside in congress and will reside in congress. Stuart donald trump could not continue daca because it is unconstitutional and courts would strike it down, have to say go back to congress, fix this thing and this is what he has done. This is what is appropriate and strikes me with moral questions and legal questions. Stuart we are seeing demonstrations, that is philadelphia, does look like a major demonstration, they have one going. Back to jeff flock doing extraordinary stuff in houston, still there. Why are you still looking at houses under a lot of water . Jeff i wanted to check couple that had stayed in that house over there. Turn us around, they had vowed to stay, around the captain here, that house right there, not a very good captain, we are spinning around. At any rate, i should work on my skills. They were vowing to stay but we checked and they are gone. This neighborhood is pretty much cleaned out. Water levels slowly starting to come down. This is where the reservoirs are, it will be slow to come down but hard to believe ten days out from the storm it still looks like this. One thing i heard this morning was where is that other hurricane going to get dont tell me it is coming here. Stuart let me break into that, theres a possibility irma could end up in the gulf. At the moment the storm track suggests it is more likely to go to florida and up the eastern seaboard but you are right, the last thing you guys need is another drop of rain. Keep paddling, organize your camera crew, you are a fine captain and that is the truth. I want to get to the north korea situation, they say they exploded a Hydrogen Bomb over the weekend. Defend secretarygeneral matus said do that again and meet with a stiff piece of military retaliation. I want to bring back herb london, seems to me this is a faceoff and if they lunch another missile, any other missile they launch we have to knock it out of the sky. We are obliged to do that. People say war is not the answer but the default position is more. If you have someone as irrational and erratic as kim jong un the United States is obliged to protect those americans residing there as a tripwire, we have 50,000 in japan, 12,000 in guam. Americans are in harms way in addition to protecting our allies in south korea and japan so no question the role the United States is to play. Stuart you said several times dont do it again and they do it again and so far you have done nothing, your words in question, your intention is in question. The iranians are looking at this with great interest to see how the United States will respond. Stuart we are seeing protests across the country following the decision to rescind the daca program. In philadelphia, right hand side of the screen the phoenix, arizona, not sure what that is a demonstration about on the righthand side of the screen, dressed up in the American Flag a protest against rescinding daca, this is going on all over america. Dow industrials down 143 points. We were down 180, now we are down 140, part of the blame goes to Hurricane Irma which we will update momentarily. The rest of your life if you want us to begin for the rest of your life so we need tablets installed. 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Clearly an immigration state, a state with a lot of dreamers who dont want to leave the country. What do you make of this rescinding of president obamas daca idea . I usually have a shirt and tie on for you but we are still in hurricane mode so a little less formal today. As attorney general sessions said, we cannot let everyone in our country. I know this is difficult, some of these children came here when they were young through no fault of their own and brought here by their parents but we wont have control of the border until we address all of these issues, whether they are sanctuary cities, the Senate Passed a bill, we are going through the Court Process and will prevail and that but cant have sanctuary cities, people crossing the border bringing families with them saying that gives our family a right to stay, we have to have order on the border, we have to have model we have to have security. Stuart it has to be congress which lays down the law and deals with this situation, no choice, donald trump could not keep the program in place, it is unconstitutional and struck down by the court. He has to get on with it. I agree with you, president obama did not do these individuals any favor by granting them this temporary relief, the president is doing the right thing, the attorney general is doing the right thing and congress has to be aware of this. I said this many times and when i ran for Lieutenant Governor we both took a strong stand on securing our border and not allowing anyone to come to this country, theres a tremendous cost to it, our healthcare system, we have to have control of the border and Congress Needs to pass Immigration Reform but this is just part of it. Stuart i am up against a hard break. Thanks for joining us, more varney after this. The stuart looking at downside move for stocks. Down 140 points. Lefthand side of the screen, part of the reason why. That is irma, category 5 storm. Wind of 180 milesanhour. I dont think if it hits florida, we americans have hard time dealing with another big Disaster Relief fund. That is where i am. Neil, its yours. Neil were out of money. Hens this idea of a government of the shut down. I man that tables that. Great show as always. To stuarts point, doozy coming down the pike. Irmas wind north of 185 miles per hour. The strongest hurricane since 2007. By the way, there is another doozy behind that. Well get into that one in a second. Fox news meteorologist, adam klotz. Adam. This is massive storm, neil. Pushing closer and closer to caribbean islands. Lesser antilles is up next. Seei