Have said, it looks like deja vu all over again. We appear to be barrelling towards another Government Shutdown this week with all the attendant infighting, name calling, and general washington nastiness, but the politics has a real life effect on the american people. Eamon javers has our cover story. Its time for congress to be held responsible reporter americans love to complain about the federal government, but when it suddenly goes away, the effects can be jarring. Back in 2013 elderly veterans pushed past barricades at the world war ii memorial and this became the iconic moment of the 16day standoff that forced the closure of most of the federal government. Estimates are the last shutdown copse tens of thousands of jobs and 2 billion in lost productivity. And now analysts say the odds of a new shutdown are at least even. My mood is one of a little bit of angst, but im a little bit more optimistic than what i hear some pundits putting out. Im optimistic that well be able that mr. Boehner and mr. Mcconnell and the democratic leadership, reid and pelosi, will be able to come together and avoid a Government Shutdown. Government employees want to work reporter last time around americans across the economy effect the impact. In 2013 banks were unable to verify Social Security numbers and the irs cited a backlog of 1. 2 million verification requests in the first two weeks. The faa aircraft registry closed, and an Industry Group said 156 aircraft deliveries were delayed. And to the dismay of thousands, the National Zoos panda cam went dark. That was eamon javers reporting. If congress and the president kand agree on a spending bill, the federal government will shut down this thursday. We go to washington to get two views on what could happen between now and then. Jared bernstein is senior fellow at the center on budget and policy priorities. And Ramesh Ponnuru is the Senior Editor at the national review. Gentlemen, thank you both for being here. Jared, lets start with you. Why do you think were here again . Well, last time we were here it was because a group of conservative republicans did not want to fund the Affordable Care act or obamacare and along with the help from ted cruz in the senate and members of the house closed the government for over 2 1 2 weeks as we just heard. This time a Similar Group wants to deFund Planned Parenthood. Now, leadership on both the democrat and the republican side dont want that to happen, and so the negotiations that were currently jou lly undergoing ar to figure out how the leadership can work with this rump group of hard right conservatives that want to deFund Planned Parenthood, keep them satisfied, ant not close the government. Thats the play. Ramesh, its a highly charged emotional issue. Youre looking at planned parenthood and people have staunch views on eitherdebate. With that emotional component, will that be tougher this time around . A lot of republicans are really up in arms after a series of videos appeared to expose really unethical behavior on the part of planned parenthood, and its just raised attention on the right to the idea that planned parenthood as the largest Abortion Provider in the country also relies for most of its funding, more than any other source, on the federal government. Now, a lot of prolife republicans dont want to have a shutdown because they dont think that theyre ultimately going to succeed by having a shutdown and cutting off funding for planned parenthood but there are other folks who just who want to have this fight. Jared, what do you think . With the news that john boehner, the speaker of the house, will step down at the end of october, does that make it more or less likely that this shutdown will happen, and then beyond october, then what happens . Look, i actually think it might make a shutdown somewhat less likely. One of the things thats always been a tremendous challenge for Speaker Boehner is that he doesnt want to shut the government down. Accident want to shut it down last time, he doesnt want to shut it down this time, but he faces tremendous pressure from the part of the caucus weve been talking about. Well, if youre resigning from your job, that pressure is obviously significantly diminished, so i think that the leadership will probably prevail. I will say this, by the way, about planned parenthood, none of the federal money that supports planned parenthood goes for abortions, and i will say the following. Last time you had Something Like 80 republicans signing a letter saying we will close the government down over funding obamaca obamacare. This time you have Something Like around 30. So theres actually less pressure from that caucus as well. Wr wroo. When you say none of that money goes directly for funding abortions, it ignores the fact that money is fungible. Well it supports planned parenthood, no question about it, but its important theres a restriction in the law specifically on that point. Ramesh, what happens if we do get a shutdown . Whats the Economic Impact . Well, the studies suggest that the last shutdown did make a little dent in the economy, but the question this time would be how long does that shutdown last . And i tend to think that the odds of a shutdown have gone down a lot because Speaker Boehner can now rely on more democratic votes, make up for the conservatives who wont Fund Planned Parenthood under any circumstances, and keep the government running. I suspect that boehner is going to want to do that for the good of his party as he sees it. I think youre both probably correct in that assumption, but i guess we wonder what you get because there was let me say a temporary extension to get us through to december but then youre facing here is the thing, becky i think the odds of a longterm extension are higher now, too. I think boehner would want to get this out of the way. Well, here is the thing im really worried about and we havent talked about it yet, and its actually a much bigger deal for the economy because we all agree that well probably not see a shutdown and even if we do, the dent will be as ramesh said. Its the debt ceiling. We hit the debt ceiling sometime probably in around november. Remember, boehner says hes gone at the end of october. He also was very much against defaulting on the debt. A lot of this depends on who is going to replace him and if its someone who is more in sympathy with the tea party, say a kevin mccarthy, for example, if he takes over the house leadership, that could make it actually tougher on the debt ceiling. Thats more worrisome than the shutdown probability. So if thats the case, then whats the economic fallout, jared, if we get stuck in that position . I think once you start to seriously talk about defaulting on the sovereign debt, we know that you see Market Indices get very jumpy. The vix, for example, a market of market volatility, responds to that in a negative way. We already have enough market volatility. At the end of the day i think its unimaginable we default on our debt but even that conversation i would argue creates an uncertainty we dont need. Jared, ramesh, way tonight thank you both for being with us today. Thank you. Now here is a look at whats making news as we head into a new week on the money. A final look at the size and scope of americas economy for the second quarter. The last revision for the Gross Domestic Product showed it grew at 3. 9 . Shes slightly above expectations. Its the broade esest measure oe economy. Its not expected to grow at a strong pace in the current quarter. Stocks were poised to break early gains after janet yellen said she thought a rate hike was likely. The man who was chairman of volkswagen is looking for a new job. Martin winterkorn stepped down. Winter corn said he was shocked and did not know of the wrongdoing but he said he accepted responsibility. Vw is germanys largest corporation. If you collect Social Security in the United States you should probably plan on get nothing increase for the next year. The government bases its cost of living adjustments on inflation readings and right now its too low to warrant a change. There were no increases if 2010 or 2011 either. Up next, were on the money. The popes historic visit to the United States. What he really thinks about america and our economic system. And later, baby, you can drive my car. Auto prices are up, but monthly lease payments are down. Is now the time to sign up for that shiny new car . Right now as we head to a break, take a look at how the stock market ended the week. For the millions of americans suffering from ringing in their ears, theres no such thing as quiet time. But you can quiet the ringing with lipoflavonoid, the numberone doctorrecommended brand. Relieve the ringing with lipoflavonoid. Do unto others as you will have them do unto you. That was, of course, pope francis. This week he became the first pope to ever address a joint meeting of congress. Part of his sixday whirl wind tour of the United States. Its hard to argue against the golden rule. Joining us right now to talk about pope francis visit is father thomas reese, a Senior Analyst at the National Catholic reporter and father reese, thank you for being with us this morning. Good to be with you. Great to see you. What did the pope hope to accomplish with this visit to the United States . Well, i think that the visit was both a pastoral visit and a prophetic visit. As a pastor he came to pray and worship with the catholic people and preach the gospel, which for him means telling us about gods love and compassion towards us and our responsibility to love our neighbor, especially the poor. But then he also had a prophetic message, a challenge to all of us, and there he spoke about our need to be more welcoming to immigrants and refugees, to be concerned about the poor, and to care and protect the environment, our common home, the earth. You call it prophetic but there are a lot of people who also called it political. Obviously the pope has been a longtime advocate for the poor. Hes had major criticisms of the environment and economy. Hes tweeted things like inequality is the root of social evil. How do you think pope francis feels about capitalism . Well, the pope i think has been very clear that how we respond to the poor, to the immigrants, to the environment, even our economic decisions, are moral decisions because they impact real people. So he has been critical of what i would call libertarian capitalism, unregulated capitalism. He recognizes that capitalism has brought a lot of people out of poverty, but theres a lot of people still in poverty, and he wants to be a voice for those people so we can break the cycle of poverty that some people are trapped in. Pope francis certainly practices what he preaches. Hes the first pope in over 110 years who didnt move into those sprawling papal apartments. Instead he lives pretty modestly in the vatican guest house. I just wonder if you think pope francis is on a mission to really change the church and change the way people see the church . Absolutely. I think that this pope one of the reasons people love him and admire him so much is hes the real deal. This is a pope this is a man, this is a celebrity who is about selling jesus, about selling the gospel. You see when hes interacting with people, its not all about him. Its about them. Hes embracing, hes inclusive, hes loving, hes warm and compassionate towards people, and thats what he wants us to be also. You know, anybody who tries to put him into a political box has certainly had trouble this week as they watch him kind of trading back and forth on the two sides of issues. Obviously the democrats liked a lot of what they heard when it came to things on the environment, things on making sure that we regulate the markets and capitalism, but he also went out of his way to go visit some sisters and show his support for the sisters who had a problem with obamacare and the idea that they had to provide Reproductive Health rights under obamacare. So i guess its really hard to pin him down. Would you say he does that intentionally or this is just who he is . I think he really wants to be above partisan politics. He doesnt want hes not here to endorse one party or another. In fact, when he spoke to congress, he spoke about the evils of polarization, of dividing people into enemies and friends, good guys and bad guys. I think, you know, like the american people, he would like to see our politicians sit down, talk to one another, work things out, and work for the to solve the problems of our nation and of the world. Certainly a week that washington could stand to hear that message. Yes. Father reese, thank you very much for joining us today. Good to be with you. Thank you. Up next, we are on the money. New car prices are higher than ever but monthly lease payments are falling. Is now the right time to lease . Later the mad scramble for fresh eggs. Why some people are willing to dish out some big bucks to know where their food comes from. Al. Thinking about what to avoid, where to go. And how to deal with my uc. To me, that was normal. Until i talked to my doctor. She told me that humira helps people like me get uc under control and keep it under control when certain medications havent worked well enough. Humira can lower your ability to fight infections, including tuberculosis. Serious, sometimes fatal infections and cancers, including lymphoma, have happened; as have blood, liver, and nervous system problems, serious allergic reactions, and new or worsening heart failure. Before treatment, get tested for tb. Tell your doctor if youve been to areas where certain fungal infections are common, and if youve had tb, hepatitis b, are prone to infections, or have flulike symptoms or sores. Dont start humira if you have an infection. Raise your expectations. Ask your gastroenterologist about humira. With humira, control is possible. Selling 18 homes . Easy. Building them all in four and a half months . Now that was a leap. I was calling in every favor i could, to track down enough lumber to get the job done. And i knew i could rely on American Express to help me buy those building materials. There are always going to be unknowns. You just have to be ready for them. Another step on the journey. Will you be ready when growth presents itself . Realize your buying power at open. Com with new car prices reaching alltime highs a Record Number of americans are now leasing to keep their Monthly Payments low. And according to experian automotive, leases made up 27 of all new Vehicle Financing in the second quarter. Since lease payments are falling, if youre looking for a new car s that your best bet . Joining us right now is Senior Personal finance correspondent sharon epperson, and this is the Perfect Timing for me. Im trying to figure out myself lease or buy. I have always bought a car in the past but what should i know about leasing . The important thing to know is lease payments generally per month are going to be cheaper than a loan payment for a car. Thats why a lot of people get into a lease and, in fact, weve seen lease payments fall even further in the last year and theyre less than 400 a month compared to almost 500 a month for a lont monthly loan payment. But thats not the only reason to get into a lease and theres some important questions that you have to ask not just what your Monthly Payment is going to be but also look into a couple other factors. One of them is looking at how much youre going to use the car. And this is something that got me when i leased a car. This is why i have never leased. Always been afraid of going over the mileage. Exactly. So if you commute long distances to work as i do, then its important to know that and know what your mileage is going to be. And when you look at the money factor, they dont talk about Interest Rates with leases. Its easier to understand with a loan payment. You want to get them to tell you what the money facts ofactor is terms of an Interest Rate so you can really be comparing apples to apples. One thing thats always concerned me is the idea if theres a nick on the car or a little scratches along the side or something, thats never bothered me to drive around with a car like that, but i have to pay for all those things. You have to pay for all those things if you have a lease. You want to be very careful to know if theres excessive wear on the car that youre going to have to be paying for that. And a lot of mistakes that people make are not looking into those things, not realizing those are factors that could be ones that actually cause the lease to be more expensive in the long run. There are still people who think buying is for them. What are the sort of advantages that you have as a buyer aside from those disadvantages we just talked about with leasing. Well, the advantages, of course, is its going to be cheaper. If youre going to drive the right amount of mileage, the right amount being less than 15,000 miles over the course of the lease, the lease is going to be cheaper, 12,000 miles the lease is going to be cheaper. If you own your own business, you may be able to have a Tax Deduction for the lease you have. Thats Something Else to consider. The other factor that people may think about is that they like switching it up. They want a new car every three or they want a new model. Theyre not sure if they like that model so that you are going to try it out. Thats another reason to get into a lease. There are some good reasons. Youre smiling, i think youre going to get a lease. You just convinced me why i dont want a lease. I dont like change. I dont want a new car every three years and im sure i will drive over the mileage and im still going to worry about getting the car dinged up and things. The one thing you can do is you can get a lease and then switch it over and purchase it later. Sometimes that can be more expensive, you have to work out the numbers and see what works for you, but i chose that route. You did . I did choose that route for one of my cars. Bunow i must say the best thing ever and i will tell everybody, dont have a Monthly Payment at all for anything. Buy your car, pay it off, and keep that out of your budget. Thats why i dont want to trade. I have had it for a long time, its fine as long as i keep getting it checked up. Its great not having a payment for a car at all. Thank you very much. Up next, a look at the news for the week ahead. Plus, why some people are willing to pay three times the store price for an egg and are clucking all about it. For on our show and our guests go to our website otm. Cnbc. Com and by the way, you can follow us on twitter on onthemoney. On monday president obama and russian president putin will meet in new york. On monday pending home steals are released. On thursday well be getting auto sales for the month of september and on friday the big number of the week. Well find out how many jobs were created when the jobs report for september is released. There are signs of the sharing economy everywhere, and now you can even find it in your backyard. If you have a hankering for farmfresh eggs, you dont have to own a chicken. Now, you can rent one. Morgan brennan explains. Reporter farm fresh agencies in your backyard from chickens that are rented. Several startups lease out hes e and all the necessary supplies. We are an affiliate farm. We raise chickens for our customers to rent for four to sixmonth rental over the spring and summer and then well come pick them up so you dont have to keep them over the fall and winter. Kay owns a farm in liverpool, pennsylvania, an affiliate of rent a checken. Com. Usually we make more than one delivery in a day. The majority of our customers are very interested in knowing where their food comes from. Reporter rentals fill that yard to table desire but without the hassle of an upfront investment or a long time commitment. For 400 a customer gets two hens already laying eggs daily, a coop, and a 100 pounds of feed, enough to last for the fourmonth period. If i wanted to hang onto these chickens for four months its 400 and that includes the price of the feed and the coop. It pairs representers with birds. In turn those farmers pay affiliate fees to the home office. The Company Cofounder jen tompkins says by the 2016 rental season, she will have signed contracts with 20 affiliate locations up from 12. And rent a chicken isnt the only company cracking open this concept. Maryland based rent a coop operates in eight states charging 180 for a onemonth coop. Michigan based rent a chicken. Net has clients in nine states who rent two hens for up to 450 for six months. Bird flu has been a boon for business as well as egg prices have climbed to record levels after a devastating outbreak wiped out more than 10 of u. S. Production. These Companies Say demand for backyard flocks has jumped. No small feat given the price renters ultimately pay. That breaks down to 1. 79 per egg. A total of 21 per dozen. A sum at least three times higher than the priciest organic eggs in the store. But a premium a growing number ever willing to pay just to know where breakfast came from. Morgan brennan, on the money. Plus theyre cute. Thats the show for food. Im becky quick. My guest next week is former president bill clinton. Were on the money. Have a great one and ill see you next weekend. Because you never know when it will happen youve decided to work in a cubicle. This cubicle. Being irregular is the worst. Get more fiber with chocolatychewy fiber one bars. Feeling good can taste great suffering from ringing in their ears, theres no such thing as quiet time. But you can quiet the ringing with lipoflavonoid, the numberone doctorrecommended brand. Relieve the ringing with lipoflavonoid. Narrator in this episode of american green. Staten island native joe mazella wants to help friends and neighbors with the promise of using their money to turn Distressed Properties into highly profitable residential oases. Joes pitches were just like you going out and having a beer with a friend. Narrator he lures in retirees, policeman, firemen, and even members of the deaf community, but this opportunity is a 14million scam, where his clients savings and lives end up as gutted as his junk properties. I was calling him every single day. Wheres my money . Wheres my money . Wheres my money . And there was no money. Nothing came
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