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tv   Countdown to the Closing Bell  FOX Business  September 27, 2013 3:00pm-4:01pm EDT

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good afternoon everyone, i am liz claman. the last hour of trade, all hot air swirling in washington, d.c., in the end has little impact on what really happens on wall street, unless it is congress' inability to get the nation's business done. a shut down risk is growing by the hour, coupled with increased consumer pessimism about the economy is why you are seeing red on the screen, dow jones at one point of down about 117, dow on track for first weekly loss since i would say about august, same with s&p, nazdaq is down about 7 but looks to see a weekly gain. that would be 4 straight. to individual stock names j.p. morgan is higher, ceo jamie dimon met with top justice deputy officials in washington
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yesterday. trying to end the government's mortgage investigations, still no sign of a settlement deal. the stock is meandering a bit, waiting for guidance, down about 2/3 of a percent, j.p. morgan at $52.25 a share, is there any valivalidity to all things digi, that go laly is takeover from steve ballmer at microsoft, i reached out the alan m malalley asking is true? there were dots in there charlie gasparino should be here. some do we see? i don't know. who do you think? do you think that means he is staying or leaves at ford? we'll talk about the ford microsoft story coming up.
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>> but first blackberry and j.c. penney, we talked about them yesterday knowing you needed to watch the name with horrific weeks, but which stock has the worst week ever? nicole? you come in from new york stock exchange, adam, we got him if front of a camera, we start with you blackberry. >> look at blackberry two contendors for awful weeks. what occurred throughout this week, monday, that is when fairfax stepped in announcing their $4.7 million offer $ 9 a share for blackberry. it ran up to $11 over speculation it may be a target but then it dwindled. tuesday there was a lot of spec lauk, wednesday bernstein said, that this could be unlikely there was concerns.
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largest shareholder, came out can illed earnings -- reporting a big loss $1 billion they did warn. so you have no forecast, no conference call. a bid that still seems shaky, market talk is they could get the financing, maybe that is why you see the pop but for the week down 8%. in last 3 months down 45%. and t-mobile will not sell blackberries any more you have to order one if you want one, their supplier, jabil second largest biggest customer, they said, we're going to probably duck out too. then adam, and j.c. penneys, do we let the viewers vote on the worse week. >> i think j.c. penney, they have managed this terribly, certain members of media piled it on deeper, but what do you think? >> mike goldman saying we're not need to raise capital last night
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we get an announcement they are issuing new shares and raising almost a billion in capital, they are down 18% for the week, year-to-date this could is down 54%. it hit a new 52-week low this morning, $8.86 a share, not doing well, having trouble. the big problem for j.c. penney, they have enough cash on hand for the year, but it was that goldman sachs report on wednesday, that said, short this stock that really set the stock into its downward spiral, then announcement they will raise liquidity you get nose from citi saying 2014-2015 they are burning through cash too fast, you get conflicting statements. this is a highly leverages company, you get to statement today from standard & poor's not changing the way they look at company, it is launched home
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shops poor performance, and mark down activity this will continue to burn through their cash. saying that company's risk profile remains highly leveraged over the next year. not hopeful for jcp . i'll go with j.c. penney, annual high nicole was $27, today it is $8, blackberry not as dramatically off from the 52-week high of $18. now at about $8. >> we're still using your blackberries, when is last time you went shopping at j.c. penney. >> you know ben willis was calling you on that other day, i am holding on to mine. i you know adam is the same way. >> i am defending -- one thing about j.c. penney, retail analyst i like to go to driscoll was a big fan of what they tried to do they just executed it poorly, now they pay the price. the question with j.c. penney,
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they own real estate they leverage it, what is left. >> right, you know. we'll ask bruce ratner, we know that jc penny and blackberry had disgusting weeks but they were one of two bright on the somes today, like gold and silver, trader at new york stock exchange and at the nymex. bumping up on monday, we should mention fox business will be live starting 5:00 a.m. eastern from here in new york. not going to europe we're here in new york story is america right now. and ben, what do you think happens over the weekend? >> well, i think the weekend is just going to be a chance for people to digest, watching fox business get an idea because, the fact is that fed forward guidance has collapsed, unless the world market is in disapray a, we're -- disarray, next week
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we go into a week of i's, so, we en up with theu's, we will take the week to try to understand where we want to be i suggestion that market in correct phase that is an opportunity for long long-term investor to be a buyer in the stock market. >> down 89 points, you said that long-term still a buy? bob, to the chicago how closely will you watch the development in washington d.c., we're bumping up against a bunch of issues, the question is, do you still stay in the market? what do you see traders doing? >> you watch this closely, we have the i's and the 'us, and government takes care of the o, we have iou . we have same thing for overall
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market, there is no incentive to ta buy with some things on the horizon, we don't have economic news strong enough to offset the coming taper when it does cam. and it is not weak enough to encourage more taper, we got debt ceiling going on over the weekend, why would you buy at this point, on a friday? market. >> inn my opinion re? my opinion retrading most of the shock when we do the the taper from to move on we retracedda all we're waiting, i think that lack of buyers continues to dribble off on the s&p, we don see a massive rally, any time soon. massive rally, we did not see sort of a massive rally until we went after 30,000 fight over the past 6 month it looks like a massive rally we have experienced. alan, usually when you look at the energy complex and whole thing is down, that is more statement that people are not
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too sure about the economy be than specifically with individual energy stories. >> we're seeing people getting on sidelines right now. not sure what is happening with a government shut down? if it does should the down it could be bad for energy market. i see us in a holding pattern. but we also at a low level, it is easy for a speculate or to get in, with a language position, wti, still a buy, still going higher. right now 102.80. there it is. finally. down 23-cents, everything else is down took brent, heating oil have a good week, tune in 5:00 a.m., ben willis, at the time the alarm. >> i'm up, i'll be there. traders are all up early. at we mentions visitors brace for the potential government shut down, u.s. markets are down for the week.
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there is a flashing indicate or here, the swiss franc some call it the swissy has been rallying on the uncertainty, the swiss frank has beefranc has been the, are parties in washington closer to a dial, you know what the swiss franc is rallying people are running for cover. >> president is going to address this, at bottom of this hour, 3:30, the bill that would defer a government shut down until middle of november, that has passed the senate it now is over here on the house side, you can imagine president obama to avert a government shut down tuesday, will push house of representatives to pass that bill. when talk about republicans, that -- to republicans that is
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what they are not going to do they want to add a policy provision, but the question is, what to add, they have no idea what they are going to add, a lot of uncertainty, and this we hear about this fight over obamacare. >> let's keep working to get rid of the lay and replace it with real reforms not with ideas from 1980s but common sense step-by-step reforms that will lower the cost for american people and spare them from this terrible law. >> we learno lunch from crises to crisis -- we lurch from crises to crisis, democrats we peal the law this of land. >> reporter: house republicans are meeting tomorrow afternoon to figure out what they are going to do, what policy they will attach to a government funds bill, going they would change that bill this government spending bill they would have to
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send it back to se senate it tas days to get anything done in senate. so we're really running up gain that timeline right now. for them to agree to something and avoid a government shut down, monday in to tuesday. liz. >> i want everyone tonight dow jones down 88, 3:thi:30 is when president is to speak, we will trachiit live. >> we'll see if his words have any effect of markets, this is crushalal crucial. stay with us. rich, stan by thank you very much. closing bell ringing in 48 minutes, just about one year since the landmark barclay center in brooklyn changed face of sports and entertainment in new york city, if you don't like in new york, have you no idea,
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the fights people put up to keep this away, it is a hit out of the ballpark, now the man behind the game changing project. set to transform long island scene as well, talking about forest city ratner company chairman bruce ratner joining us for a fox business exclusive in just a moment. could a car guy, ford's alan ma laly do what steve ballmer has failed to do at microsoft, that is unleash tech titan animal spirit? we'll game it out for you, what it could mean for your portfolio? should you want in before a change. as soon as we come back. ♪
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liz: the search for next microsoft ceo may have taken a new turn we hear reports unconfirmed, that ford ceo technology outsider alan mew lalmulallyis the frontrunner fo. he had no trouble going to ford, you see, could it be? he goes to a bigger climb, microsoft? don't you love your graphics department? a leap, a line from boeing to
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ford. is leap more gigantic, more dawnindawn-- daunting from fordo microsoft? joining me now. i don't know if saw that video, leap from boeing to ford he got a lot of criticism, it was you are not a car guy. but it was manufacturing and manufacturing. now you talk about a leap from ford to microsoft, in our opinion, how successful colin? >> he has done a great job at ford. you know i think he mas brought the organizationing it we will bring a management change, you know with ford he has brought a good strategy with one ford plan. you know, and you know he is really had a great long-term vision with technology like my ford touch and echo boost. so i think he will bring this
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vision, it is a very dig transition. -- big transition, you know going from aerospace to auto is more common, a lot more in common or similar issues. the product life cycle is different on technology side. liz: and jay, what the scuttlebutt? i would like to say alan did replay to me, when i asked him, so should we say congratulations, his words were, love serving our ford. what are you hearing and. >> i am hearing what you are, but it seems if you have the dna of a good manager does not matter much if you switch industries, i think if you know the issues and complexities, he has extensive industry experience, certainly turn around ex ter pence, i think
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that would matter a great dial, he could be affectial in job. liz: colin would ford shareholders hate it if he left them? almost as if okay, he leave its in great hands? >> i think that is very good point. this is you know, they said last year mo mulally would stay on through 2014, we know his exit is underway, they have developed a strong succession plan, mark fields has taken over for moo mulally in the weekly management meetings, you know the plan is in place, and you know a couple months here and there is not going to make too big of a dial,
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mark fields has a great track record. liz: jay, alan is 68 years old, that stunned me, he has not seem 68, he has the energy of a 30-year old, i call him tigger, she is so involved. such a beliefer in the product over at ford. -- believer at product in ford in a industry, technology industry where youth is stressed quite often, although i think it will sun fair, do you think tha? nowhere to go but up. >> alan's age is irrelevant, what matters most is his industry experience, his energy, he become in given his personally ity and his brack bae become in.
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i don't see his age as an issue. liz: not at all. if he is 68 i am 25, let me show you the other names we put on the screen for who has been talked about as leadership of microsoft. sign ceo -- the skype ceo, then steve friend nokia, a quick thought? >> you asked me the day that stivsteveballmer announced his retirement. i am still reluctance with suspect respect to sieve elop, i know steve. he was not ceo at the time but he was c.e. unterberg, towbin, before they were acquired by adobe, then at adobe then to juniper then microsoft, a good list of companies but not in any one place you would call an extensive ceo level experience other than nokia. liz: jay-z, and colin thank you
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-- jay and colin thank you. >> thank you, liz. liz: we're 38 minutes from closing bill, rapper kanye west not okay with late night comic jimmy kimmel spoofing leather jogging pants which kanye said he made up, he is striking back in a twitter war. and bruce ratner, revolutionizing sports and entertainment scene in new york, on his way into studio right now, joining us next in a fox business exclusive. [ male announcer ] imagine this cute blob is metamucil.
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liz: happy birthday, it is a happy birthday for barclay center, tomorrow it will be one year since they opened their doors to public, arena blossomed but gone crazy. unbelieveable, it has won multiple awards including sports facility and building of the year, it ranked number one in ticket sales of any arena in u.s., not even a-year-old, in
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the first 6 months. grade management here -- great management. what is next? joining me now, in a fox business exclusive, bruce ratner, as we were doing the segment. benny, our floor director rushes upside i got tickets tonight, these are the tickets i don't know -- adams for peace rock band. >> i'm not sure they are. >> i'm glad i am not only one. >> he told me before. liz: before outside of new york do not know what a fight, you had to wage to the area around brooklyn, they are those rushing this the events, does this amaze
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you? >> we thought it would do well, i didn't expect quite this well, this is beyond anyone's expectations, it caught on like wildfire, if you are a kid, you want to go to a circuit or adams for peace, if you are into back basketball, boxing, first the programs is important. and people that work there are nice, trained by disney. architecture is good, we love patrons, and food. >> how many job? >> 2000 jobs, people working there right now, 80% from brook brooklyn 35% from housing markets is projects in the area. i bet you half. liz: folks? lawsuit, protests, tickets all
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things they didn't want to here, in the meantime it was an area that was down and out, and you have revitalized this, a perfect example where this kind of thing can work to advantage of and big news you get to be part of the nba all-star game, weekend of february 15. you don't get the game. slam tur turn contest -- slam dunk contests. >> you get the skills challenged. >> you know some people like one some like the other, so people make their choice. liz: amazing. >> it is. liz: you will work, hank ratner,
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and bruce, hank runs msg. have you ratner and ratner working together. >> we're not related but i call him cousin hank. we have a great rivalry, but at the end of the day he is good people. liz: you won something big on long island that is coliseum, which was down for the count, really gray at the temples, new york islander played there you are bringing islanders on barclay center, you won mid to revitalize nassau coliseum, we have a great picker of the hock team at barclay center and new, i love it locker room looks good. and there you go, team look at the media who came to see -- very rare to see a really old school hockey team like islanders make that move. you will make it hopefully comfortable for islander fans to
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long island, but what did the nassau coliseum? >> this will be great, i mean that it will be right up there with barclays, nassau and the area have almost 3 million people, a lot to do, a lot of activity, a great audience, great people, 30 million cars pass by that every year it has to look beautiful, be supercomm portable it has to be like barclays food have to be good, disney will train the employees great programs. liz: pretty were the same with barclays with a successful model. >> we got the model. liz: do you have bookings? >> 200 letters of intent from boxes to college basketball to shows whether se services or artists jay-z it is coming there, he has not played tin 10e
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convinced him to come to it before it closes in a sense. that is what we can bring. liz: streisand? >> i bit you, we'll get streisand too. we have to convince her. liz: benny is asking about add adams for peace. >> we'll get them. liz: brooklyn nets owner is your partner in this, how committed is he to islanders. >> he is committed to the basketball, he made trades this year that will make us a real contend or for the nba title. that costs a lot of money, he has to commitment charles wong owns islanders, he had a team in play-offs this year, they are going to get better and better, a young, good team, they sold
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more tickets than any more exhibition team, and ha. >> so there is really interest in hockey. liz: i talked with islander fans that live on long island because of the public transportation system, it is fine for them to go see them in brooklyn, that was a smart move. how many jobs in nassau are you expecting? >> close to 2000, it is an arena just the same. am situation in particular -- employment situation is good. >> as we wait for the president to speak. government shut down, you, as a major be owner, a guy who depends on a healthy consumer who would you say to congress? >> this is a disaster, you cannot let it happen, you cannot telemarkets we're such a volatile country that we shut down that is terrible. even talking about it is
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terrible. even the threat is terrible, let alone it happening, markets very fragile for a bunch of reasons, so, this is about the worst time you could do it we're just getting back. liz: bruce ratner, forest city ratner, one year happy birthday to the barclay center, we'll be right back president obama is expected to speak in just moments, we got it look at dow down 77, s&p 1690 we're watching markets and your money. life's an adventure when you're with her. and i. but your erectile dysfunction - it could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph,
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liz: breaking news, we're waiting on president obama who is to speak in white house briefing room any moment now. subject -- the potential government shut down, word that shut down would occur at midnight monday. right now, market down 65
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points, low of session about 117, with nazdaq down 5, s&p down 6, gold up $ 14, watch that as a possible gyrating indicator here, we did got 2 minute warning on this. we look at a couple things. soivolatility index up 11%. at 15.74 that is the traditional fear index. to see a jump -- it went up 12% fully, there it is. we're watching this closely it does indicate how much concern there is in the market, ben willis put out a note said from sent am perspective upcoming focus on government shut down has caused uncertainty, but watch out ongoing low levels of gauges of fever, anything below 16 vix is something we look at,
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nicole, yahoo!? a line. >> traders believe this is a little bit of political posturing, in end, that they will come to some conclusion. there are elections next year, they have to get it right and done, there are some who believe that if they don't, that that could really have a tough economic impact. thin hit consumer confidence, move us into tougher economic times and resolution and the like, there are those extremes if nothing is to be done. if they can't figure it out by october 17, but by october 1 they have to de get it done rig, most of wall street thinks they will. liz: what are we watching for? we are waiting for the president. we got the two minute warning about a minute ago, volatility
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is ticking up here. 12%, markets not falling to lows of session, waiting to hear when president says about a potential government shut down, you heard bruce ratner say it is woulding a disaster. >> good afternoon, before i discuss the situation in congress, let me say a few things with opportunity in our foreign policy, i spoke on phone with president rouhani. we discussed our on anything efforts to each an agreement over iran nuclear program, i reiterated to president rouhani, there will be important obstacles to moving forward, and successes by no -- success by mo means guaranteed, i believe we can reach a comprehensive solution, i directed secretary ker tkerry to pursue to diplomac
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effort with the iranian government. we have discusstions with our partners, going forward, president rouhani and i have directed our teams to continue to work expeditiously. to pursue an agreement. and through out this process we'll stay in close touch with our friends and allies in the region, including israel. we're mindful of the challenges ahead, very fant that it was the -- fact that it was first communication between an american and iranian president since 1979, underscores deepness for us between our country, but it also indicates prospect of aboving beyond that difficult history, i believe there is a basis for a resolution, iran's leader muched a fatwa against development of nuclear weapons, and indicated that iran will first develop nuclear weapons i
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made clear we respect the right of the iranian people to access peaceful nuclear energy, test will be meaningful transparent and verifiable actions. resolving this issue could serve as a major step forward in a new relationship between the united states and the islamic republican of iran, based of mutual interest and respect, and help facilitate a better relationship between iran and the international community. as well as others in the region that would help iranian people fulfill their potential and help us address other concerns. a path to a meaningful agreement, will be difficult, and tip both sides have concerns that will have to be overcome. but i believe we got a responsibility to pursue
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diplomacy, that we have a unique opportunity to make progress with the new leadership in tehran, now as i said before this is same day that we can acomp blue chip a major diplomatic breakthrough on syria, united nations security count will vote on a resolution to acquire assad regime to put weapons under initial control to be destroyed, assad regime must keep its commitments or face consequences and be vigilant about following through, this could be a victory for international community and demonstrate how strong diplomacy can pursue a better world. now, america security and leadership don't just depend on our military strength or alliances or diplomacy. first and foremost, america's
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strength depends on a strong economy. where our middle class is growing and everyone who works hard has a chance to get ahead, let me say a few words about the situation that developed on capitol hill. here at home, the united states congress has two pressing responsibilities. pass the budget on time, and pay our bills on time. if congress chooses not to pass a budget, by monday, the en of the fiscal year, they will ship down government with many title services that american people depend ogood news went last couple hours u.s. senate democrats and republicans, acted responsibilitity by voting to keep our government open and delivering services the american people expect. now it is up to republicans in houses representatives to do the same, i say that because obviously democrats have a great interest in making sure that
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these vital services continue to help the american people. so far, republicans in house of representatives have refused to move forward. and here is the thing, unlike the last time they threatened this course of action, this debate is not really about deficits. our deficits are falling, at the fastest pace they have in 60 years. by the end of this year we'll have cut our deficit by more than half since i took office, if you have been following the dits cusion, republicans in house do not make a pretense that is what it is about. the house of republicans are concerned with appeasing tea party they threatened a any of shugovernment shut down or worse unless a gut or repeal the affordable care act.
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i said this yesterday, let me repeat it, that not going to happen, more than a hundred million americans have new benefits and protections under the law. on tuesday about 40 million more americans will be able to finally buy quality, affordable health care just like anybody else. those marketplaces will be open for, on tuesday. no matter what, even if there is a government shut down, that is say done deal. as i said before if republicans have specific ideas on how to genuinely improve the law, rather than gut it, rathere rather than delay it. rather than repeal it, i am happy to work with them on that. through normal democratic processes but it will not happen under the threat of a shut down. so over the next 3 days, house republicans have to decide what weather to -- whether to join the senate and keep government
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open or shut it down. because they can't get their way. on an issue that has nothing to do with the deficit. i realize that a lot of what is taking place right now is political grandstanding, but this grandstanding has real effects on real people, if government shuts down tuesday, military personnel, including those risking their lives on overseas, will not get paid on time. federal loans for rural communities, small be owners, families buying a home will be frozen, i am getting lettering s profrom people who are worried. critical research, and life saving discoveries will be halted. federal government has a large rome role across the country, and touches lives of millions of people those people wil will be harmed, the threat of a shout
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down is probably having a dampening effect on our economy, we saw this last time these shenanigans were on capitol hill. any republican in congress who is watching, i encourage you to think about who you are hurting. there are probably young people in your ostright now who came to work for you, without much pay they believe that public service is noble, you are preparing to send them home without a pay check, family with kids in their district 2 serve your country in the federal government. past shut downs have disrupted the economy this would as well. it would throw a wrench in to gears of our economy, at a time when those gears have gained traction. that is why many republicans senators, and many republican governors have urged republicans do knock it off, pass a budget,
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and move on. let's get this done. that brings me to congress' second responsibility, 1 they vote to -- once they vote to goy have to vote within the next couple of weeks to allow the dress tindustry to pay the -- ty to pay the bills for money that congress has spent. raising debt sa debt ceilinga authorizing treasury to pay for wa congress has already authorized. failure would be more dangerous than a government shut down. it would be an economic shut down with impacts not just here but in the world. we down fully understand what -- don't fully understand what might happen, the danger
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involved, no congress has actually ever threat ended default. but we know it would have a profound destable rising effect on the economy. on the world economy. because america is the bedrock of world investment. dollar is the reserve currency. the debt that is issued by treasury is the foundation for our capital markets, some republicans have suggested that unless i agree to a longer list of demands, not just gutting the health care law, but cutting taxes for millionaires or rolling back rules on big banks and polluters are other pet projects they like to see, they have been trying to get passed over the last couple of years,
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they would push the button, throw america into default, and risk throwing us back into a recession. i am willing to work with anyone who wants to have a serious convery siconversation about yol future, i said in the past, and i will to know say i'm willing to make a bunch of tough decisions ones that may not be welcome by my own party. but we're not going to do this under the threat of blowing up the economy. i will not negotiate over congress' responsibility to pay the bills that have already been wracked up. voting for the treasury to pay america's bills is not a concession to me.
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that is not doing me a favor, that is carrying out the solemn responsibilities that come withholding office up there. i don't know how i can be more clear about this. nobody gets to threaten the full faith and credit of the united states just to extract political concessions. no one gets to hurt our economy, and millions of people, just because there are a couple of laws that you do not like. it has not been done in the past. we're not going to start doing it now. i'm not going to set a precedent not just for me, but for future presidents where one change chip bichamber in congress can say eh time there needs to be a vote to make sure treasury pays its bills we're not going to sign it unless your particular hobby
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horse gets advance add. imagine if you had a republican president, and a democratic speaker said, well, we're not going to pass a debt ceiling up less we raise corporate taxes by 40%. or unless we pass background checks on guns. or whatever other list of agenda items democrats were interested in. does anyone think we would hear from republicans that was acceptable behavior? that is not how or constitutional system is designed. american people have worked too hard to recover from a bunch of crises. several now over last couple years, inflicted by some of the same folks in congress that we're talking about now, to see extremists in congress cause
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another crisis. and keep in mind, this whole thing has to do with keeping government open for a few months. the continuing resolution, the -- the bill that is designed to avert a government shut down, just funds the government for another couple months, we could be doing this again, i am sure the american people are thrilled about that. that is why we got to break this cycle. my message to congress is, do not shut down the government, do not shut down the economy, pass a budget on time, pay our bills on time. refocus on the every day concerns of the american people. there will be differences between democrats and republicans, we can have all kinds of conversations about how to resolve those differences, there will be areas where we can working in, and areas where we disagree.
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but, do not threat en to burn the house down, because you have not gotten 100% of your way, that is not our democracy works. every day that this goes on, is another day that we're not focused on doing what we need to be focused on, which is, rebuilding this great country of ours so our middle class is growing and everyone has opportunity if they are willing to work hard. that is what i'm focused on, that is what congress should be focused on as well, thank you very much, everybody. >> president obama calls it not a government shut down? but a shut down of the entire economy. just speaking now to white house press core, first he got some housekeeping out of the way, had a conversation with iran president rouhani, saying i believe we can reach a comp monthsive solution, regard -- comprehensive solution in
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serria, we bridge in david before after the bell begins, most important thing i think we garding government shut down that president said, while i am happy to work with fine tuning with g.o.p. on fine-tuning i refuse to repeal the affordable care act, he remains on that issue and feel its would be devastating to the u.s. economy if certain members of congress allow that to go. >> 2 issues that concern him, most recent one is whether or not the obamacare is going to be a part of the continuing resolution. and the -- some republicans want to strip it out, others want to keep it in, they sided with democrats in that vote. other issue is whether we going to raise the debt ceiling, those two issues, the one that the american public seems firmly on the side of republicans is whether or not to tie the debt ceiling issue into direct decrease spending on the federal government. that is something that american
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people are in favore or of, other in terms of obamacare holding up whole budget on issue of obamacare, that one american public do not agree with the republicans on. liz: peter barnes you heard whether president say the, and headline that president obama spoke with rouhani from iran, markets holding steady, improving just a bit, when we spoke the dow was down 72, to your perspective. >> president going toe-to-toe with house republicans, ball is back on their court now on whether or not they will approve a continuing resolution to keep the government operating to pass a budget cr, that now does not include a provision to defund obamacare. that is what the house sent to senate last week. then which senate today on a party line vote, stripped out of
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that cr, stripped out language from the house that would defun obamacare. now house republicans will meet tomorrow at noon to discuss their next move, president coming out today, after the vote in senate, to put pressure on republicans, to perhaps pass a clean cr, then, he wants them to raise the debt ceiling, putting pressure on them to pass a clean increase in debt ceiling. >> peter, the closing bell. dow jones down about 73, it came down a little bit toward the end of the day, but big question, when the house takes you of this issue. now that ball has been thrown from senate back over to the house. whether does the house decide that i want to continue this process of throwing it back and forth. >> we'll hear from house republicans tomorrow, right now, the expectations is they will try to


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