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In the democratic party of $150 billion. what do you think? >> well, it is hard to say. you know, you have to get past the water, it has to recede and get insurance estimates in there. it is definitely going to be more than sandy. it is definitely more than -- like i said, the single largest flooding disaster in the united states history. but it is going to take somebody in the insurance business, somebody in the flood recovery business, fema for example, that can go in there and put a number to it. >> sandy was $60 billion and katrina was $120 billion just to give people a point of reference ...

$17 billion for the sandy aid should be offset by the 1.63% across the board discretionary budget cut. do you think or should in this case there be an offset for the people of texas who now need billions of dollars. >> i don't view it as an offset of the people of new york or new jersey or texas. i view it as a spending level that says we have got to make cognizant -- >> congressman, it is a yes or no. >> not for pme, it is not. >> in 2013 it was a yes. >> that is my vote, and you are asking me about my logic. >> should there be an offset. i think there is a yes or no. >> any time -- any time ...

Percentage points. the s&p 500 was off 1.25. the nasdaq was down 1.63%. let's talk about what all this means. joining us tonight from new york, fox business networks melissa francis. good evening, melissa. so we're in a tough stretch for the market. why? >> reporter: absolutely. i mean you were just talking about it. this the worst stretch in four years. the last time we saw this happen was when there was a big debt ceiling fight. it's not good. there are a lot of reasons for it. some of it is mixed economic data. you talked about the jobs number out today earlier. and that's one of it. it's s...

Other related elements. of course we care a lot about making sure that that path to citizenship is real. and not unattainable. i think for us we want to make sure there aren't efforts to undermine that. which we believe perhaps would be maybe further efforts when those titles to the bill are considered. i'm encouraged bit fact that the social security administration, in a letter they said that 3.2 billion jobs would be added to this bill. as well as increasing the gdp 1.63% and even stated that the social security trust fund would be bolstered by $300 billion over the next ten years. there's a...

Being reflected here, all of the markets down around two-thirds of a percent. oil stocks are losing a bit of ground because oil prices are actually lower. let's have a quick look at the currency markets. not an awful lot going on there really. not even on the yen actually, 84.32, roughly the same level we've seen for the past couple of sessions. slight weakness on the pound there. the cable just a shade about 1.63. 1. 425 is the euro against the dollar. pauline? let's recap just what happened on wall street on monday. stocks ended without much change as investors started for the start of fir...