200,000, and you figure, well, i should be grateful, right . And i dont know whats happened to you, but its not the Stuart Varney that i always knew. [laughter] stuart i believe ive taken up 50 seconds of your show. [laughter] neil you have, you have. Stuart or stuart just remember, neil, come on, something is better than nothing. And if the votes were there for acrosstheboard major tax cuts, major tax reform, im right in there. But the votes are not there. Neil maybe the votes are there for a simple majority. But if you make a supermajority, maybe youre right. But i just think youve already tipped your hand and said, all right, this is what we have to settle with, and the other side is saying, oh, weve got varney. You have huge influence, mr. Varney, across the world. Stuart thats not true, thats not true [laughter] neil and they see you blinking. Stuart ive now taken up 90 seconds of your show. Neil all right. Lou dobbs wanted me to pass this along concern. [laughter] love that. Really a favorite moment of the day. All right, thank you very much, my friend. Alienating colleagues left and right on this show. In the meantime, some good news to tell you about whats going on in florida right now. Airports are beginning to open, albeit tentatively, across florida. The university of miami is going to remain closed until at least monday. Fuel trucks are beginning i stress beginning to make limited deliveries to south florida gas stations. But again, a quarter of those pumps dont have gas. And fema is saying 25 of the homes in florida, at least the keys, theyre gone, and theyre not coming back. Millions still without power. In the just but thats for later in the show. I want to get to friend. A lot more with jeff. Hes the real mccoy, folks, i tell you. In the meantime, this is the real mccoy, comebacks. That is the american story, and its happening again even though insurance stocks are falling, theyre off their worst levels. Some are anticipating an insurance nightmare, but keep in mind the industry or, more to the point, the reInsurance Industry, the insurers for the insurers, so to speak theyre sitting on better than 6 billion in capital. The combined estimates were getting from the two storm, harvey and irma, is in the vicinity of 280 303 billion. So on the surface the industry seems well capitalized to meet that. But, again, lets go to an expert, tower hill president , very big in these parts. What is your read on this as far as how much the industry can absorb . What do you think, don . Well, neil, i think the latest modeled results for Hurricane Irma here in florida have come down considerably, and the insured losses are now estimated maybe 15 billion on the low end to 40 billion on the high end which is a lot lower than the original anywhere from 100 a 150 billion. Neil how do you know that, don . I know when they come in and have to assess and a lot of times, you know, they go on the basis of visual drone type assessment like were getting right now in naples, but you need men and women on the ground to really, you know, specify that, dont you . Well, absolutely, neil. And i stress that the word is, operative word here is estimate. Neil right. But these are computergenerate models based upon a track of the storm out of a catalog of over 10,000 storms, some real, some computergenerated that looks at each companys exposure and then adds it all up. And the computer is calculating these numbers. But, yes, i would stress they are estimates. But they, you know, they have come down significantly. Were seeing here at tower hill some more severe damage, obviously, in the keys and southwest florida. But as you progress further into north florida where were located in gainesville, the damage is light to moderate. A lot of tree limbs down on roofs and that sort of thing, not total devastation or homes unlivable, that kind of thing. So fortunately for everyone, the losses appear to be less severe than originally forecasted. Neil i know its kind of comparing apples and oranges because they were distinctly different storms. They were destructive storms, but harvey seems to have a more expensive tab in the largely texas area than irma in florida. Am i right about that . That appears to be because i think its more of a flood loss there. Now, how much of that is borne by the Insurance Industry, relatively little. Most of thats going to fall into the lap of the federal government through fema and the write your own flood program, and then beyond that for the uninsured amounts, itll be dependent upon grants and so forth. The unsured loss insured loss in florida may actually be higher than what we see in texas because so much of texas is flood. Neil and more people had insurance, right . Correct, more people had Flood Insurance in florida than they do in texas, but the homeowners insurance, as i think most people are aware, your standard policy does not cover flood. You need to have a separate flood policy or purchase an endorsement to your private homeowners policy. Neil i know it went into the middle of the state where you wouldnt think youd have a need for Flood Insurance, but will most be protected, or or are we finding out that its a good percentage that will not be . As there will be a large number that will not have Flood Insurance. However, because florida is a coastal state, it has the highest penetration in the national Flood Insurance program, and most of the residents in coastal counties have a mortgage, and that Mortgage Company require them to carry flood if they are in a highhazard flood zone. So i think the uptick in flood policies in florida will be greater than it was in the houston area. Neil okay. Don, thank you for taking the time. Tower hill president with a view early on how it is looking as far as the Insurance Industry is concerned and those dependent on them for recouping some of the losses theyve experienced in florida, namely, for the time being. You know, there is another storm out there, jose, but most experts are pretty confused of trying to get a sense of where it is going. To the Weather Company senior meteorologist dan leonard. Dan, hows it looking to you . To be honest, neil, it doesnt look too bad. Its milling underneath a big rigell of High Pressure which is keeping it at bay. For the next three, four, five days it stays offshore. There are some models that try to bring it in close to the carolinas early into next week, but right now i think probably the chance of an impact to the east coast of the u. S. Is roughly around 10 . So i think were going to dodge a bullet with jose. Not out of the woods quite yet, a couple more days worth of model runs, and we can be sure that its a fish storm, but right now its a fair shot that most east coast cities are safe from jose. Neil you know, im showing my ignorance here, but it comes in handy because i am when it comes to this stuff. Dan, how do you know, how close to, you know, a potential hit or potential turn do you look at a storm like jose . Because ive seen all the tracking models, and it really looks like a bad etch a sketch p here where it could go any one of two dozen different directions. What do you look for in the next few days . Yeah. Those Spaghetti Models are the bane of meteorologists existence neil very smart, very smart. Yeah, exactly. Oh, it could go anywhere basically. Let me put it this way, there are certain models that we look at and other ones that we ignore. The Spaghetti Models dont take into account which ones are the good ones and which ones arent. Theres a couple of models that did really well with tracking irma, and those are the ones that you sort of look at and say, okay, it did really well with irma, lets see what it does with jose. Having said that, remember with irma even the last couple of days before landfall we werent exactly sure where it was going to go, so you can get some senate changes, obviously, in the days significant changes, obviously, irma those changes were the best scenario. Might as well hit in the everglades and force the storm surge up through there, spare miami, the big west coast cities, and its the best case scenario. You can get significant changes fours five, six days out. Its not something we can take our eye off, but right now were looking pretty good as far as jose goes. Good news. Neil all right, fingers crossed. Dan leonard, thank you. In the meantime, weve got debt officially over 20 trillion, a lot of it result when we dotted the is, crossed the ts and went ahead and raised our debt ceiling, and that did make it official. Now that were there, whats next . Its a highly contagious disease that can be really serious. Especially for my precious new grandchild. Its whooping cough. Every family member, including those around new babies, should talk to their doctor or pharmacist about getting vaccinated. So we need tablets installed. With the menu app ready to roll. In 12 weeks. Yeah. The world of fast food is being changed by faster networks. Data, applications, customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Fast connections everywhere. Thats how you outmaneuver. Neil all right, our debt is over 20 trillion. We tease it often enough, but now by formally raising it and getting that three month extension that might work out to be more depending on how they whittle this down, and got funding for hurricane victims largely in texas, that did the trick and got us over 20 trillion. To an unimprettied Arizona Republican unimpressed Arizona Republican caucus who doesnt like the way were piling this debt on. You were not a fan of the deal that brought us here, right . Thats correct, i wasnt a fan. These things should have been handled in a separate, step by step, disagoaggregated basis, ad if we would have done that, we could have seen some things that would have worked for the american people. By lumping them together, weve kicked the can down the road on debt and budget and crs and at no time even make provision to pay for this relief. Neil so your concern is that the president might have been hoodwinked by democrats, this is something he cooked up with Chuck Schumer and nancy pelosi, now Mitch Mcconnell has gone on record saying, you know, it isnt that early middecember deadline, that there are ways this keel this deal is written that the debt ceiling nightmare or whatever you want to call it could be delayed well into 2018. Youre not impressed either way. Neither, neither method seems appropriate the to me, but certainly theyre out there. And im hoping that it doesnt get in the way of the agenda of tax reform which is something we cant fail on. We have to get that done. Neil maybe thats why the president did it. You dont you think there were better ways to do it, he wanted to clear the deck the get to tax reform . Well, to clear the deck, i mean, tax reforms a separate issue altogether. I dont think he cleared the deck with this at all, actually, he kicked it down thed road. Thats not clearing the deck. It seems to me what you need to do is say were going to get the best tax reform package we can out of the house, lets at least get a bill in writing so we can be reviewing that. Neil congressman, as a member of the freedom caucus, maybe i should ask you as an individual congressman, would you accept a tax cut that doesnt include everybody . I mean, there is talk that in order to win over some democrats, the administration might have to go slow, if at all, for the upper income, that maybe they dont get a tax cut but virtually everyone else does. Could you live with that just to get tax cuts done . Yeah, i think i might be able to live with that, but im asking to get something in writing in a bill so at least we can have the discussion. I think that we should try to get a tax reduction for everybody if thats possible. I think im a big believer that income Tax Deduction particularly stimulates the economy and improves our overall revenue process so we get more revenue in, not less. Neil the reason why i mentioned it is gary cohn, the National Economic council head, told my colleague, Stuart Varney i think last week that its possible that the upper income might see a tiny rate cut, if a cut at all, but it would probably be offset i hope im not putting words in his mouth by limiting their deductions so that there are some groups, maybe the upper income, who would netnet be paying more. How would you feel about that . Im not excited about that necessarily. But what we have talked about is eliminating a lot of deductions so we could streamline the income tax process for individuals. Neil right. Of all incomes. So well see how that plays out. I just dont think you have to have a revenueneutral tax reform plan, and thats what leads you to say, well, were not going to get a tax reduction here, were going to get a tax reduction there. I think that a revenueneutral is just tax shifting, youre shifting from one group to another, and thats not really fair either. Neil yeah. I think by definition revenue neutral would not be revenue revolutionary, right . Correct. Neil i mean, it would not be substantial by definition, and that might cause problems with you and some of your colleagues, right . Absolutely. What you want is you want and i do believe this, and i think weve seen it demonstrated in the past, that a healthy tax reduction and tax reform and simplification actually stimulates the economy which in turn produces more revenue to the budget so you dont need to be worried about, so much about the net cut up front because you know in the end it will have longlasting, generational production of higher revenue. Neil all right, congressman. Well see what happens. Again, the details, were told, could be a matter of days away. Im sure you hope as much to get those details as anyone else. In the meantime, were about 40 minutes away from that big announcement from apple. Talk about lots of announcements, theyre going to be doing it with that fancyshmancy spaceship campus. This was the one that steve jobs had envisioned more than a decade when the first iphone was introduced to the world and changed everything. But a sellout crowd there is going to be hearing a lot about a new phone, maybe a revamped watch, air pods, you name it. It could be as far as multiple announcements is concerned among the busiest scheduled events in apple history. Coming up. When youre close to the people you love, does psoriasis ever get in the way of a touching moment . If you have moderate to severe psoriasis, you can embrace the chance of completely clear skin with taltz. Taltz is proven to give you a chance at completely clear skin. With taltz, up to 90 of patients had a significant improvement of their psoriasis plaques. In fact, 4 out of 10 even achieved completely clear skin. Do not use if you are allergic to taltz. Before starting you should be checked for tuberculosis. Taltz may increase your risk of infections and lower your ability to fight them. Tell your doctor if you are being treated for an infection or have symptoms. Or if you have received a vaccine or plan to. Inflammatory bowel disease can happen with taltz. Including worsening of symptoms. Serious allergic reactions can occur. Nows your chance at completely clear skin. Just ask your doctor about taltz. Neil all right, these are Signature Developments when apple introduces a new product, especially an iconic one as the tenYear Anniversary of the introduction of the iphone which was poohpoohed by the industry saying apple was making much ado about nothing. Of course, that was then, this is now. It is on the verge, about 20 or 22 away, that is the stock, from being the First Trillion Dollar Company on this planet. Deere yes bolton is here Deirdre Bolton is outlining whats at a stake because this breaks a few price points. Oh, yeah. Whats at stake, its your wallet, your disposable cash. Iphone x, as its going to be called, probably going to cost 1,000. So that sounds crazy, but if you look at what samsung already announced and its newest, latest, highend phone that goes on sale september 15th, that phone is 950. So, i mean, at this point theyre both just expensive, you just have to deal with it. Neil right. And they both figure their customers will and have yeah. I mean, analysts are really mixed. Some analysts say, absolutely not, consumers are going to reject both, this is crazy. But then other analysts say, listen, americans spend three hours minimum on their phones, and our phones are everything now, right . Its like your video player, your music player, pc, its also a phone, its where a lot of people do work, a lot of people organize their home life. So were using these devices. But i think whats interesting is both of these companies are clearly bucking an overall trend. Every other consumer electronic good that we use has gotten cheaper. I actually went back and looked at prices of tvs and i looked at prices of laptops over the past 15 years, theyre about 50 cheaper. Neil is that right . Its only the phones that these two Companies Neil i guess they figure if you build it and its good, they will come, and they have in apples case in the past. Yes. Neil but theyre confusing people too, because they are offering cheaper alternatives, and they are offering, you know, an iphone yeah, you said that. Theres an upgraded 7 that we expect to hear about and a 7 plus that we expect to hear about. Lots of new today. Although the 7 and the 7 plus upgrades, those arent cheap either, probably going to be priced around 650 and 750 respectively. But if you do want to spend big, im going to tell you what you yet for the money. Youre going to get a fancy camera, both samsung theyve already, obviously, announced concern but the iphone x is going to have this dual lens camera so you can be a little bit more artsy neil galaxy has beaten them to that. Yes. But apple supposedly is going to catch up. Were going to hear all about it today. Both are very into voiceactivated systems, and one thing apples betting on is this augmented reality. If your kids got into the pokemon go game or you want to see your favorite nfl player do a touchdown dance in your living room, supposedly the iphone x is going to make that possibl