11 07 a. M. The white house issues this statement saying the latest g. O. P. Proposal is a partisan attempt to appease the tea party and that set off a fire storm among democrats. That progress evidently has struck here in the hearts fear in the hearts of the republican whose reckless behavior called upon them to sabotage the bipartisan effort in the United States senate. Extremist republicans in the house are attempting to coimpede the progress with a bill that cant pass the senate, cant pass the senate, and wont pass the senate. Were not going to pay ransom from the American People to the tea party in order to open the government. And that brings to us 3 15 p. M. Eastern. The time the president called House Democrats to the white house. Now, moments ago, talk of another house g. O. P. Plan to be voted on tonight. Were going to get reaction from former president ial candidate Rick Santorum in a moment. First, fox senior capitol hill producer on the latest plan that is now emerging. The headline, please. Reporter this is a new plan, would keep the government open just through december 15th, the tedline the House Appropriations committee chairman, hall rogers, was pushing for help didnt want something that would extend into next year. He thought that was too long. They can write the individual Appropriations Bills and control spending. Second of all, this would be a concrete date on the debt ceiling of february 7th. They dont want to raise the debt ceiling by a certain dollar figure. They want a concrete date, and no extraordinary measures, a term of or the arte which the treasury dep department uses where they go through the couch cushions to keep the government sound. We actually hit the debt ceiling in may but they have been using extraordinary measures since then. This would eliminate that. Is there any sense this is another retreat by the g. O. P. . Its key to watch to see if they can get the votes for this. Theres going to be a lot of republicans say this doesnt go far enough. They want more things on obamacare. They fought for weeks and weeks, bouncing bills and back and forth to do a full repeal. Its obvious there werent the votes for that. So there are provisions curbing obamacare. The question is, will that be enough . One thing that is significant what theyre doing here, this bill is the old continuing resolution. The parliamentary device used to bounce the bills back and forth between the newscast. By using this old bill, they eliminate one opportunity for fill buster in in the senate. Was told by one senior democratic aide, had they had to originate a bill in the senate they would not be able to raise the debt ceiling in time, but by taking this old piece of legislation that went between the house and senate, it resides in the house right now. They can insert the new language and send it to the senate and that saves a lot of time and could potentially keep them from hitting the debt ceiling on thursday. Chad, thanks very much. House republicans at this point not looking like they will be getting very much out of this deal. Democrats today labeling them reckless, radical, appeasing the tea party. How should republicans respond to that . Lets ask former president ial candidate, Rick Santorum. Sounds like the republicans are in full retreat. Sounds lining you got beat. Whats your judgment . Well, certainly doesnt sound good, but what i see from the House Republicans is not a willingness to accept defeat and their resolve to continue to fight for reasonable restraints on spending and reasonable changes to obamacare that ben fit the American Public, and i think they have benefit the American Public, and they have every right to stand form. Theyre not asking for anything radical or extreme. Quite the contrary. What theyre asking for here is fairly minimal, compared to what was on the table just a couple of months ago. I understand this new plan that is just breaking now, theyve retreated in one area. The original plan was they were trying to suspend the medical device tax for two years. That demand has now been dropped. The medical device tax stands. That surely is a retreat. Well, like i said before, dont think if i was the House Republicans i would not retreat from what i think are solid things they can ask for in any negotiation, and be able to stand firm. Look, theyve suffered all the hits theyre going to suffer for, quote, shutting down the government or, quote, creating the default. The polls are as bad as theyre going to get. Capitulation would actually show that show to the American Public they were on the wrong side of the argument. Obamacare is a disaster, its hurting the economy and hurting average people right now, and we need to stand firm and continue to fight on a very practical thing that they have put forward in these negotiations, and not let the ridiculous comments of harry reid and nancy pelosi, calling them extremists or being at the back pocket of the tea party. Thats foolishness. This is the rhetoric they use all the time, this extremist rhetoric that we should not be cowed by anymore. We need to stand up and fight them. If you want to stand up and fight, who in the Republican Party in Congress Stands up against the rhetoric of harry reid and former Speaker Pelosi . Who is there forcefully . Is it a question of personalities . Too you have the personality in congress to stand up and fight . Well, theres certainly a lot of people who have been standing and fighting. The leaders, john boehner, has made some fairly forceful comments. The senate has been, well, say, less forceful and disappointing, but the ball game is in the house. The Senate Republicans are clearly not up for the fight anymore. Which is unfortunate. But i think the house and the house runs should be dish dont think theres anything to be gained by cap capitulation, we d to stand firm and fight for reason changes to make shore the American Public is protected from this horrific law and any type of expansion of government spending. Ever thought it was good idea to let obamacare roll out some destroy itself . Look, what the House Republicans are proposing right now is not stopping obamacare from rolling out. They sort of abandoned that. Theyre talking bat couple of very minor things that are having a devastating impact on workers right now and the economy. And at least they can get rid of some things that even democrats voted for in the past, like getting rid of the medical device tax. That passed with almost half the democrats in the senate supporting it. Rick santorum, thank you for joining us. Thank you. Now the market. Twist, turning, with each Fresh Development throughout the day. The dow opening down big. That was at the opening bell. Cut its losses as republicans offered up their debt limit plan. Then it fell again, when the president and democrats slammed the plan. Then the market sold off more right before the end of closing the end of the trading day. To Fox Business Network sandra smith, what are you hearing about the markets reaction to a potential deal . Well, all bets are on the table. Right now the marketplace is still significantly pricing in a small chance that the government will default on its debt. If you look at how we closed in todays session, the dow, the s p, the nasdaq, all lower. Dow losing 133 points and what some traders are looking at is we sold off to the lows of the session at the close of trade egg, and that can often be a sign that there are a lot of bears in this market, fearful of what is coming next. The bond market, yields are spiking on shortterm government debt. This is usually the safe toast buy. Not so much. Fidelity, citigroup, jp morgan, executives saying they have sold off all their shortterm debt, specifically debt that matures over the next month or so, before october 31st, for the most part, because of a fear of a possible government default. That being said, i want to point out the fact that the stock market is Still Holding on gain from when the government first shut down. In fact the s p 500, gauges the stock market, still posting a 1. 4 gain from the first day the government shut down. So we are Still Holding on to the gains, and, as one trader was exiting the floor i asked him, what does it mean for the markets if we actually see this small chance that the government default . He said it would be a calamity and we could see 500point selloff in the dow in a single day if that happened. Possibly an 800point selloff over self days. So traders are starting to think this could be a possibility. We would wait on the ratings firms to make any decisions. Fox Business Network reporting that the white house us putting pressure on wall street executives to seek out to republicans on extending the debt ceiling. Thats the latest. They helped get obamacare passed. Now are unions about to get a pass . [ crashing ] [ male announcer ] when your favorite food starts a fight, fight back fast with tums. Heartburn relief that neutralizes acid on contact and goes to work in seconds. Tum, tum tum tum tums lets get some clarity on this latest g. O. P. Plan that is emerging. It would be a clean cr, a clean continuing resolution, no strings attached. It will be a clean debt limit increase. No strings attached. Only one item, and that would be the amendment, congress, the cabinet members and white house staff must be subject to obamacare. Thats it. Otherwise its a clean spending and a clean debt bill raising of the debt ceiling. Clean. Thats it. Forget the debt deal for a second. Heres the question. Are unions about to get a sweetheart deal on obamacare. At issue is the reinsurance fee, definedded to help fund the entire law. But unions dont want to pay it and at it looking like lawmakers might cave on it. Stewart is with the National Union of hospital directors. Stewart, as i understand it, this fee goes towards helping people with preexisting conditions, getting their subsidies in line so they can get health insurance. This money from this fee goes towards that. But you dont have to pay it. You have an out on this. You got a pass. We shouldnt have to pay it for three reasons. One is many Union Members are insured under health and Welfare Benefits paid for by both the employer and the union, and theyre selfinsured programs. Theres no Insurance Company involved. Theres no profit involved. Two, those health and Welfare Benefits funds are part of wages. Theyre even calculated as wages. And, three, theyre jointly negotiated. Theyre not just provided by the employer. And, four, finally, unions have been carrying more than our share of the cost of health care because we have provided health care for all of our members, which has helped to Fund Health Care for uninsured people who show up in hospital emergency rooms. Is this the exercise of union clout within the administration . No, no. We dont like obamacare, we want significant changes. This is part of that pressure. Make some changes. No, its not. Its not part of the pressure. The president originally refused our appeal. This is just common sense, that the members of congress, particularly democratic members of congress have picked up, its a totally different deal than a blue cross deal or an aetna deal. These are health and welfare fund that have been around for 100 years in some cases. They go back to do unions support the other side of the coin, which would be, do unions support pushing white house staff, congress people, pushing them into obamacare . We dont have a position on that. That seems like a silly little thing to hold up the if you get pass on the reinsurance woe dont get a pass. A one are year extension. For one year, you have a pass. Why shouldnt you force, therefore, the president , the white house staff, administration, to submit themselves to obamacare . Indicate a quid pro quo, isnt it . No its not a quid pro quo, and really we just dont have a position on it. Why would we push something that we dont have a position on it . If thats the only thing standing between getting the government up and running, paying Capital Police officers, paying fema employees, paying noah people to track hurricanes, and getting a deal on the debt ceiling . Thats pretty small protate toes, stewart. Okay, stu for joining us. We understand what is going on now. Thank you, stewart. Appreciate it. They cooked it. Time for them to eat it. If. If the president thinks so well of obamacare and the vicepresident , he should be in it. Yeah. Republican congressman darryl issa is next. American express credit card, every purchase earns you 2 cash back, which is deposited in your fidelity account. Is that it . Actually. Theres no annual fee and no limits on rewards. And with the fidelity Cash Management account debit card, you get reimbursed for all atm fees. Is that it . Oh, this guy, too. Turn more of the money you spend into money you invest. Its everyday reinvesting for your personal economy. Losing thrusters. I need more power. Give me more power [ mainframe ] located. Ge deepsea fuel technology. A 50,000pound, ingeniously wired machine that optimizes raw data to help safely discover and maximize resources in extreme conditions. Our Current Situation seems rather extreme. Why cant we maximize our. Ready. Brilliant. Lets get out of here. Warp speed. Sign a bill that left himself another of obamacare but put members of congress in, i think its time for president obama to go into obamacare. Now darryl issa. Congressman, i want to get into a discussion of whether or not the president should be in obamacare or not. But first of all, i want to talk about this new g. O. P. Plan, the new house plan, which basically submits a clean cr, no strings attached, a clean raising of the debt limit, no strings attached. That sounds like a republican retreat, isnt it . It also has a twoyear abatement on the medical device tax, something we think is important to keep healthcare costs down. It gets us into a conference when we can really attack the drivers of our deficit, which are entitlements. So, like all grand bargains, everybody is fifthing some giving something and thats all the republicans and leadership, john boehner, every asked for issue is an opportunity to talk about the big issues. Obamacare is a big issue, a big entitlement. If youre 22 or 25 years old and you bay off the exchange youre going to pay as much as triple what you would have paid a year ago. So theres a lot of things to work on. We certainly think obamacare delay was good one, but we also think that dealing with entitlement and cost drivers is very important, too. Congressman, have to tell you fox out of washington is reporting that the twoyear delay in the imposition of the medical tax, the medical twice tax, is no longer part of the plan. All references to the medical device plan are drop. An issue withdrawn by the republicans. That is a retreat, isnt it . Well, it certainly isnt what we were talking about this morning. As you can imagine, since no bill is before us, were all working off the last briefing we had. Heres the important thing, stewart. Were dealing with the Affordable Care act, which is cratering as far as service and meeting expectations. The web fortal is not delivering even 10 of what it should be. Experts who have start looking at the source code call it malpractice in writing it. We spent 400 plus Million Dollars writing the software. We were assured repeatedly it would be on time and would work. Were discovering internally they knew it wasnt on time and wouldnt work and delaying the rules until last november after the election is part of the reason theyre not ready on time. So you take all of that, and those are issues that are surrounding the debate. Are we going to do the right thing for the American People . You tease the president going into the obamacare. I think michelle, the kids and the president congressman should be in healthcare system. Forgive me for interrupting you. We see former Speaker Pelosi walking towards the microphone. Lets listen in to what she has to say. Good afternoon. Beautiful afternoon. We had the privilege of having a conversation with the president about the looming deadline. Were still optimistic there is a path to lift the debt ceiling in time. Were pleased with the work done thus far but we have heard of the Bipartisan Legislation being prepared in the United States senate. Were disappointed the House Republicans decided to sabotage or at least delay what was happening there, but are hopeful Everybody Knows that time of the essence, and if the republicans in the house want to put up a bill, they should do it soon. But they have to know, as it has been describe, they have to leave that 100 republican vote. Our members signed letters sufficient to open government that we are there, clean legislation to open the government, clean legislation to lift the debt ceiling, that would take us on the path to the budget table where any and all issues can be discussed. Im optimistic because i believe the impact of not lifting the debt ceiling on topping alone not lifting the ceiling is so catastrophic that those in the Republican Party will see the light. We stand ready to supply the votes but if they do not if they go and pass it on theyll need 100 republican vote. Madam leader, i agree with the leader this was a very positive meeting, as we expected. Indeed the president is very committed to getting the government open. Obviously making sure that america p bills, and we assure steny hoyer saying it was a very positive meeting with the president. Nancy pelosi saying she is optimistic following this meeting with the president. There you have itful just happening as of right now. Lots of developments on this story today. Two days from the deadline. Is this how the white house negotiates . We have never, ever proposed or agreed to pay ransom in exchange for opening the government. A latebreak chain of event bringing you up to date on what has been happening. Shortly before 4 00 eastern time the g. O. P. Released new plan for getting rid of this gridlock. A clean cr and a clean raising of the debt ceiling. Thats clean. No strings attached. Moments ago former Speaker Pelosi emerged from a meeting with the president at the white house, saying she is now optimistic to senior White House Correspondent ed henry. As an observer, seems to me the president and the democrats have gotten what they wanted. Reporter youre right, they have gotten a good clunk of what they wanted but im not sure theres a deal yet. On the positive sid from the white house perspective, basically youre right, now Speaker Boehner, who last week you leader pelosi speaking kansas lack week boehner was not going to reopen the government. Now a new plan, reopen government through december 15th, and broader discusses to deal with the medical device tax, other big issues, and then secondly, to extent the debt ceiling through the beginning of february. So inching closer to a deal on that. But there is one important string attached at leastat least one. And that is that there is a bit of the president s healthcare law attached to this. A change, which is that Speaker Boehner wants to use the language to make sure that members of congress in both parties, the president , the vicepresident , and his cabinet and importantly, Congressional Staff in both parties, have to live under obamacare and give up their generous subsidies they already have, give up their cadillac plan on capitol hill, and in the executive branch as well, and live under the exchanges like the rest of the country, something the white house has resied and something frankly leaders in both parties have resisted. So, yes, theres some progress on the first side of it in terms of reopening the government and extending the debt ceiling. Once you bring in that change to the president s healthcare law, michigan the white house has rezested, nance where pel nancy pelosi thinks House Republicans have sabotaged what she thought was progress to get the government up. So theres mixed signals, a willingness on House Republicans to open the government and stenthe debt ceiling. But theres still a big string attached. Ed, hold on. Speaker pelosi is still speaking and talking about the catastrophic effects of a default. She is assuming if we go past the midnight wednesday deadline we default. Thats not the case. She is still putting pressure on the markets and on the republicans to get this deal done. Ed . Reporter youre right. She is putting pressure. The president is putting pressure, jay carney suggested the sky is going to fall so you have to act. Youre right theres divided opinion about exactly when we would quoteunquote go into deadult. Jay carny insisted that come october 15th, based on the statement of treasury secretary jack lew, we would have to use cash on hand to pay the nations bills, other economies say you yao could goo to the end of october before you hit the wall. The point the president is trying to make he doesnt want to test whether its october 17th, the 25th, the 31, he believes it would be catastrophic economic consequences and theres not point in testing that all out. Lets get a deal today. I dont think were ready to have a deal today. Theyve edged closer but have taken a step back. Thank you very much. The democratic congressmap congressman from wisconsin. I was surprised at the rather fiery language used by democratic leadership, talking about ransom. Those fiery language. Just doesnt seem to me to be a form of negotiation. It seemed to me to be a way of betting down your mitt cal opponents and, frankly, sir, seems to have worked. Your comment. Well, it seems like where the negotiations are right now is on the senate side. Senate republicans are willing to put forth a deal. We havent seen the deal yet. We all need to get something done by thursday. When i go back and talk to people, people dont understand washington, dont understand why we cant get our jobs done, and i have to admit im in that group. I dont understand why we dont take this more seriously. Congressman, at this moment were hearing about the latest House Republican plan as its proposed. Its a very clean plan. Essentially it is, extend the debt ceiling, cent the cr, the spending plan no strings taped, except push members of congress, the administration, cabinet members and the white house staff, into obamacare. That is the only caveat. It seems like the way is clear. Surely arent we closer to a deal given the fact that the republicans appear to have caved on some issue . I think were closer to a deal because democrats and run republics in the senate have been working together. I gist talked to republican legislators who dont know exactly what the proposal is we may or may not be voting on. So we have to see if the Republican Party has finished negotiating within its party. At it hopeful that in the Senate Democrats and republicans are working as responsible adults. Would you accept, you and your staff, along with members of the white house staff, and the cabinet people, would you accept going fully into obamacare like the rest of us . I think were the only group that actually mandated to be in the Affordable Care act. Would you abandon those subsidies and go into obamacare on the same groups as everybody else . I think northwestern public looks aft this debate were having and wondering why were not reopening the government and debt controlling. Those are the big issues we should be talking. You can will you accept that . Let me the way we get a deal, would you go fully into obamacare . Yes . I think one point we are already officially in obamacare. But er getting subsidies. Youre doing exactly the problem in congress, people dont have a conversation about the real issue. The real issue is we need to reopen the government the only caveat the republican in the house have. That you, members of your staff thats today. Thats we all do. Stewart, i think the priority should be, as the senate has responsibly in a bipartisan way been doing, erring fog how to open the government raise the debt ceiling. We have been asking for the debate on the budget for six and a half month. Its irresponsible not to have a budget. You can have all the other discussions you want once we reopen the government and lift the debt ceiling. Right now lets have a debate on what is important, and getting loss in the details, thats what happens way too often. Congressman mark pocan from wisconsin. Thank you for joining us. The republicans asked for the sequester cuts but can they keep them . Gathering more details on the latest g. O. P. Plan, yes, it is a clean cr, clean debt limit raising. Got it. But taken out of this mornings plan in Late Afternoon taken out of the morning plan want the suspension of the medical device tax. Who took it out . Answer . The tea party. I dont understand that. Lets bring in town halls guy benson. He will explain it. Can you explain this . I would have thought the tea party wanted the eradication of this tax totally and yet they put it back in, its still on the table. Stewart, it is a little bit confusing, and everything is moving very quickly, and fluidly here. Ive been on the phone with members in the house and sources in the senate, and my understanding is that the medical device tax delay was stripped out at the insis citizen of more tearparty leaning members in the house g. O. P. Caucus because they think that it would, a. , look like it was a soft to lobbyists and a knotted to big business when the republican messaging has been about picking it fair for everybody involving the individual mandate tax being delayed. This would be another advantage for businesses. And the other suggestion that the tea party apparently had, and one of their oxes ing objections to delay or repeal, that would make it harder to use as a bargaining chip down the road as part of a broader repeal coalition which is i sort of understand where theyre coming from on that tactically, but on assistance, its a jobkilling tax, bad for the American People. I think thats not a smart move. Let me talk about the sequester cuts. Those sequester cuts stay in place, untouch, at least for now. Accurate . Accurate. Yes. The republicans have really drawn a loin on this one, and one of the big socalled concessions that democrats have been making almost throughout the whole process is that they would agree to fund the government at lease temporarily along republican preferred levels. What republican preferred levels is coat for, actually, is the budget control act, which is the law. Based on the sequester, the president s idea and he signed it. So it wasnt really much of a concession all along. Those levels will stay in place, but there will be this Conference Committee that this deal sets up between the house and senate, on the budget, which hasnt happened in five years, because democrats didnt pass a budget in the senate for four years and the run republic others zested this year. That will be on the table. Democrats will try to strip that out or took tweak the changes. Got to keep up on this. Thank you very much. From their plan to yours. A new study showing almost half workers 50 years and old are delaying retirement plans, most of. The citing financial concerns and that has Jonathan Honig very concerned. What the problem, older people work long center. Well, its good theyre working longer, and a lot ofs a, psychological value in working longer in a variety of fields. Thats a positive thing to your point, unfortunately most americans are working longer because they need the money. They hadnt planned for retirement or long term. One in six has under a thousand dollars saved for retirement. I have to get to this weeks questions from our viewers. Remember to tweet your questions to team cavuto or head to the your World Facebook page or web site and submit them there from our web site, fill we made it to the golden years with a home owned free and clear and a good nest egg. Looking for some income . My choices seem to be 1 in a cd or gambling in the stock market, which seems to be controlled by the hedge funds. The golden years are looking a wee bit rusty. He should blame the government, not hedge funds. Government manipulation of Interest Rates that even one with half a million or a Million Dollars saved up isnt able to actually make any real money. My belief is that you cant think about stocks versus any other asset class. Your have to think about your risk budget and not bet it all. Whether its in the Retirement Fund or nonretimer fund, people make a mistake because they make investing in all or none. Right now stocks happen to great. Last one, simple, would you have gold in an ira . I think i was probably the first person on Fox News Channel to hold up a gone coin. I gold copy. I was a long fan of the asset for many years but its a weak asset right now. I wouldnt have it in an ira, and i have been short gold in my fund. There you have it. You gab, the grab. Up next, what personal information the nsa is collecting. That has our legal eagles debating. Here they come. You really love, what would you do . [ woman ] id be a writer. [ man ] id be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] id be an architect. What if i told you someone could pay you and what if that person were you . When you think about it, isnt that what retirement should be, paying ourselves to do what we love . Extra curricular activities help provide a sense of identity and a path to success. Joining the soccer team. Getting help with math. Going to prom. I want to learn to swim. Its hard to feel normal, when you cant do the normal things. To help, sleep train is collecting donations for the extra activities that, for most kids, are a normal part of growing up. Not everyone can be a foster parent. But anyone can help a foster child. We have this just coming in from a rating service. They put u. S. Aaa rating on what is called ratings watch negative. Thats not a downgrade but a ratings watch negative. Clearly it ups the ante as the debt deadline approaches. Your buddy list and email address is at risk. National Security Agency is collecting millions of contacts from millions of chat accounts worldwide. The agency scraps the lest for hidden connections. Is this legal . This attorney does not have a problem with it, bus michelle says this is against thesoleo, says this is against the law. First of all, congress did not approve it. Second of all, the way that theyre collecting this information accounts for the fact that its not legal to do it in america. That skting for t is accounting that if they did this on american soil, that is illegal. Your messages, any of those things, illegal. There is an expectation of privacy when it comes to your email, your messages, your contact book, there is. Thats part of the illegality, the expectation of privacy. Im not sure ive got an expectation of privacy about something i put online. If you want to talk to me about the content of email, i would say there is some expectation of privacy there. But the contact list i just really do not believe that the average person using a computer believes that their buddy list or contact list is something thats protected. Anyone who uses computers with any kind of regularity knows that those contacts could be very easily hacked into, that it automatically pop late popu on certain websites. Doesnt that legalize it . At this point, the question has been put to the court. And ill tell you what. My mailbox outside my door, which has absolutely no lock, which anyone could access, is more protected than my email box, which i need not only a password, but a user name. Those are two protections on electronics that are there, that give me that expectation that my mailbox doesnt have. Yet my mailbox is much more protected. Could we agree on this you have no privacy online, period. I dont think i could agree that theres no privacy, that theres no limitations. What i would say is that if we have an Intelligence Agency that is charged with protecting us from terrorism, from drug trafficking, if they dont at least have the power to grab some information, then why do we even have this agency . They must be able to do something. You have the last word, without knowing it. Im afraid were so jammed with news today, we have to cut this one short. Ladies, thank you very much indeed. Forget the glitches. Is the real problem with the Health Care Exchange the price . Meet a Business Owner who just got sticker shock, bigtime. The day we rescued riley was a truly amazing day. He was a matted mess in a small cage. So that was our first task, was getting him to wellness. Without angies list, i dont know if we could have found all the services we needed for our riley. From contractors and doctors to dog sitters and landscapers, you can find it all on angies list. We found riley at the shelter, and found everything he needed at angies list. Join today at angieslist. Com your Financial Advisor should focus on your longterm goals, not their shortterm agenda. [ woman ] if you have the nerve to believe that cookie cutters should be for cookies, not your investment strategy. If you believe in the sheer brilliance of a simple explanation. [ male announcer ] join the nearly 7 million investors who think like you do face time and think time make a difference. Join us. [ male announcer ] at edward jones, its how we make sense of investing. If the glitches dont stop you, maybe the sticker shock will . Were learning some people are going to get hit with 12,000 deductibles and massive rate hikes because of obama care. Allison is one of those people. She owns a Small Business in florida. Allison, i know youve got sticker shock. Let me make sure ive got this right. At the moment, you pay 492 a month with a policy from aetna. If you dont sign if you sign with aetna before november 25th, it goes up to 550. And if you dont sign with aetna and you go on the exchanges, its 1,488 a month. Have i got that right . Yes. Correct. It more than triples. What are you going to do . Well, i dont know if i can afford it. I have a daughter in college right now. Ive got another son who is a senior in high school. Hell be going to college next year. And then ive got another teenager that will be going to college. And my husband and i are both in our 50s. Were in very good health, so we may just decide that its not worth it paying 1,500 a month. Its a lot of money. We might decide to drop all coverage and pay the bounty. Now, at the moment youve got catastrophic coverage. Youve got a very large deductible. Correct. But as i understand it, you cannot keep that policy. You cant keep catastrophic insurance. All kinds of coverages are being forced on you, have i got that right . Right. Thats how i understand it, too. I was on the phone with my insurance carrier yesterday and they basically told me that i am okay, i can stay on my current policy through december 30th of next year, but after that, starting january 1, i must enroll in obama care and they dont have catastrophic. I have read that if youre under 30, you may be able to get it. But i am not under 30. I have to tell you that weve reached out to aetna for a statement and heres what they gave to us. They say, a number of new Affordable Care act requirements are set to go into effect beginning january 1st, 2014. We have priced our products to comply with the new requirements and address the underlying cost of health care. Allison can i say that you are a victim of obama care . Yes, i do believe i am the victim. And i understand what aetna is saying. I dont think its aetnas fault. I talked to aetna themselves, and they said the problem is that all these sensual benefits, benefits that i dont need, like maternity coverage and mental health, are driving the cost up. Okay. I think theres a lot of people in your situation, and our heart goes out to you. We thank you very much for joining us. Thank you. Three hours from now on the Fox Business Network, what fdrs grandson has to say about this rocky obama care role. And you can catch me tomorrow on the Fox Business Network, 9 20 eastern right before wall street passes judgment on the d. C. Standoff, and that Fitch Ratings statement that we are now on negative ratings watch for our aaa rating. All right. The five starts now. Hello, everyone. Its 5 00 in new york city, and this is the five. It is day 15 and the shutdown in washington continues. This morning, House Republicans unveiled a proposal that was immediately rejected by the white house and theyve since modified their plan, will bring it to the floor for a vote tonight. The only contentious provision would require the white house, cabinet, congress, and staff to be enrolled in obama care without subsidies. Kevin mccarthy hinted at this strategy earlier
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