walgreen's dropping health care, giving employees a check instead, choose your own coverage, we can't afford obama care's compliance costs. you thought it had gone away. wrong the irs is back in the news, targeted because they used anti-obama rhetoric. no, we haven't forgotten ben. "varney & company" is about to begin. lieve your financial advisor should focus on your long-term goals, not their short-term 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, it's how we make sense of investing. ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. >> two new items fresh out of the box for you. first from the irs. the agency put red flags on political groups based on the content of their literature, specifically, any anti-obama wording. inflammatory language and emotional statements. it's not the phony scandal as the president labeled it. clearly the machinery of government was used against the president's opponents. new evidence. next, obama care, add walgreen's to the list of companies making changes because of the health care law. walgreen's will drop coverage for 160,000 employees, they'll get a check instead and they can spend the money on any plan they choose within a private exchange. separately, mcdonald's and other fast food franchise operations pressing for very big changes in obama care. they went to capitol hill. they want 40 hours a week and not 30 to be the cut off point for mandated health coverage and shall we repeat the fox news poll, 68% are concerned about their future health coverage. we've got a very full show for you this morning, including other headlines. occupy wall street two years later, what's the message? still the same. protesters chanting, quote, don't steal, don't rob, bankers get an honest job. oh, dear. and speaking of the war on the rich, here is comes, new york city mayoral candidate, bill deblasio democrat, leading republican joe loada. and looks like a shoo-in. and watch out elon musk, the sciences corporation ready to launch the rocket to resupply the space station. to the markets, probably flat until ben speaks at 2:30 this afternoon eastern time. i want to know, will he tell us clearly how much he's going to print and when he's going to pull back on the printing or do we have to endlessly read between the lines? yeah, it's pendantic, but we are going to cover it. um... where's mrs. davis? she took an early spring break thanks to her double miles from the capital one venture card. now what was mrs. davis teaching? spelling. that's not a subject, right? i mean, spell check. that's a program. algebra. okay. persons a and b are flying to the bahamas. how fast will they get there? don't you need distance, rate and... no, all it takes is double miles. 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[ bagpipes and drums playing over ] [ music transitions to rock ] make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you open an account. ♪ ♪ breaking up is hard to do >> okay. not bad, not bad. breaking up is hard to do. okay, i get it. is he going to tap the brakes, that man right there? how much? will he give it a number? investors want to know, here is peter barnes, all right, ben-- peter, called you ben. sorry about that. that was a battlefield promotion right there. and i want to know, is ben going to give me a specific number? is he going to come right out and say it, yeah, i'm only going to print 75 billion a month and not 85 billion? is he going to do that? >> i think that he will, stuart, if he doesn't actually give a number, there will be a plan for the numbers going forward. so, i think you will see that and they'll say, once again though, it all depends on the economy and how strong it is or not, data dependent, but i think they want to get started and they'll put a number out there. stuart: real fast, he is answering real questions, not pre-sorted. he answers questions from guys like you. >> he does and we don't submit them ahead of time. stuart: excellent, well done, peter. the market is open and we'll see you later, peter for sure. the opening bell has rung and the opening trend is ever so slightly higher. that's what we were expecting. it's going to be pretty flat until 2:00 when we get the fed decision then 2:30 when ben speaks. now, we're hearing that the iphone 5s may be in short supply. nicole, nobody knows how to create what, exclusivity better than apple? this is a pr stunt, is it? >> i don't know, less supply, more demand. we know the basics of economics. the other thing that may be helping apple along, at 462.72, the analysts now, you know, they have the fingerprint technology which they now are instituted in the fancier iphone and that's getting great commentary as well. that's something else to consider. stuart: if i were a pr guy, wouldn't it be great if i could get a couple of guys to get in their sleeping bags and camp outside the iphone office waiting for the new iphone. that's a pr stunt. and nicole, i've got more quotes i need from you in a moment. a couple of other big names for you, fedex, we use it as an economic indicator. good profits from the condition and it's going to raise prices and warning about tepid world growth. fedex is up. and lower profits at general mills, makes cheerios, progressive soups, et cetera, et cetera, the stock is dead flat. watch out, iphone and android, really? blackberry is going to start selling its largest smart phone yet, in the u.k. and the middle east. the z-30, it's got a touch screen. nicole, i think it's the quietest unveiling i've heard of. nicole: it's the tiptoe unveiling, it sounds cool, the z-30. i love the sound of it, can i tell you though? i went to a verizon store a week ago and poking around looking at the galaxy, i said how about blackberry, i love blackberry, the guy says, i don't want to show it to you, i don't know if is going to support the network to you if you get it? could he throw blackberry under the bus anymore. if blackberry knew which story went to and found that guy, he'd be in huge trouble. stuart: that's call the kiss of death for any product. nicole: he was the manager of the store. stuart: he was? >> yes, he was. stuart: ouch. and let's get back to what the fed is going to do today, here is market watcher chris mayer. i'm going to give you three scenarios and i want you to tell me what the market is going to do in each case. number one, what's expected is that ben is going to stay i'm going to cut the money printing by 10 billion a month starting now. if that's the news of today, what happens to the market? >> i think the market probably views that as a positive. it's what is expected, 10 to 15 is the number. if we get that, removal of some uncertainty, the market rallies a little. stuart: that's priced in. the dow at 15,500 priced in for 10 billion less a month. what if it's 20 billion less a month? >> that's a little more, and probably a reaction to what we saw in may. stuart: a couple hundred points down. >> i think we'll go lower then. stuart: a new down trend or a one-off shot, down a couple hundred. >> down a couple hundred, i think it ought to go down further. i think the market is expensive compared to earnings slowing down. stuart: yesterday on the show we had david stockman with us, a former reagan budget guy. if and when the fed stops printing money, it's going to crash. listen to what he had to say, roll that tape. >> i don'ten what the catalyst, what the black swan, what the unexpected development is going to be that will cause people to sell. and if the market begins to sell off, even more money printing is not going to stop the carnage that will result. stuart: he says, look, here is comes, here comes the crash. >> and that's going to happen because this whole market is so dependent, has become dependent on the fed's bond buying program. it's like a drug. and you can plot out the balance sheet versus the dow and then go lock and step. >> real fast, how are you advising people to invest? if you see that coming at you, what are you doing? >> you've got to keep the dry powder for sure. keep the money off the table, just cash and wait for a correction and then step back in. >> chris mayer, that's very much to the point, chris. we appreciate it. >> staying on the fed and bringing the economist michelle girard from stanford, connecticut. michelle, if the fed starts to print a bit less, are they in fact declaring victory and saying, hey, we've got this economy moving, everything is fine, we're printing less? >> no, i don't think that's how anybody feels, including the fed. but what i do think is that they've viewed these bond purchases and the stimulative policies that they represent and something that was undertaken, because of extraordinary times, you know, that it was something that you did because the economy, i think, in particular they were worried about the hit from fiscal drag, the fiscal cliff. remember, when they instituted the program last fall, we were worried about going over that fiscal cliff and the impact of the sequester and all of those other issues and i think that they undertook qe-3, partly as a hedge against that, if you will. now, here we are, we've gone through most of the year. the economy isn't great, but it hasn't stumbled in the face of these drags and i think therefore these extraordinary measures are no longer needed and i think that's what it's all about. stuart: okay, on that note, the state of the economy, i've got a couple of, i'm going to call them startling numbers for you. from the census bureau, 15% of us will i have in poverty, $23,000 a year or less for a family of four. that's poverty. 46 million in poverty, we're back to the levels of the 1960's, there's one more. median income down about 8% from where it was in 2007. that's a-- i'm going to say that, i don't want to get involved in politics, that's not my point here, you're an economist, look at the economy. i say that's a weak economy, what say you? >> we actually did a lot of digging into this. and it's absolutely true that in this recovery, there's a stark divergence between what upper income earners and seeing and feeling and the lower end of the spectrum. that's a whole other liberal argument in many cases that maybe we should be doing more for them. but the truth is, what it boils down to, at the lower end of the income spectrum, so much more of the earnings are dependent on wages and salaries and that c cohort has felt the brunt of a weak job market recovery and i think that speaks a lot to the ongoing weakness, particularly, as i said, for those on the lower half of the income distribution and that's why they're faring so much worse than their upper income counterparts that benefit from the rise in investment and stock prices and et cetera. >> what we need to get us out of what i'm going to call the doldrums is well paid, full-time jobs. >> more jobs. >> it's not part-time jobs, not part-time. it's got to be full-time. >> well, let's face it, stuart, any income, there would be people who would be happy for a part-time job if they couldn't get a full-time job and unfortunately that's what many are having to settle forment we've seen some examples and anecdotally certainly and the data starts to bear it out. and we're seeing more part-time workers at the expense of the full-time workers, particularly the retail sales. >> we'll see you again soon. thank you. >> coming up at 10:00, it's new at 10. starbucks chief howard schultz says guns no longer welcome in its stores. leave the pistols home, please. we're on that, top of the hour. and check the big board. again, we're luckily to see a pretty flat market for much of the day until 2:00 when we get the fed's decision on how much it's going to print and when it might stop, or reduce it. and then at 2:30, when ben answers questions from the media. so, you're looking at a fairly flat, very low volume market until that breaks out after 2 p.m. twitter, planning a multi-billion dollar ipo. but the company employs what, about a thousand people, that's it. next, tech creates wealth, it doesn't create jobs and here is the question. where are the women in tech? we'll answer the questions in a moment. ♪ (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. 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>> this is what house republicans are looking at for their opening offer in a negotiation, the president says he won't have. >> got it, rich, thank you very much indeed. >> the tech industry, yeah, great at creating wealth. really great. lousy at creating jobs. case in point, twitter, its ipo is expected to be worth billions and billions of dollars, but the company employs about 1,000 people. telly whitney, ceo of the boring institute -- borg institute. would you make my premise, tech creates wealth, doesn't spread it and creates very few jobs. >> some companies create a lot of jobs. twitter and software companies have left people, but the companies we work with are desperate to hire people and for software engineers. stuart: give me an example of a company dying to employ softwa software engineers. how many of them? >> we work were google, microsoft, intel, facebook and they are looking to hire thousands of people. stuart: well, as i understand it, microsoft has been around for 25 years. they've only got 99,000 employees in the united states. and they are a $250, $300 billion company. i still maintain that that is not a lot of jobs for a company that size. i mean, anita, it's not like general motors, is it? when at its prime, what, 7 or 800,000 people? >> certainly, if you look at general motors, that has manufacturing as compared to the software engineers. the software industry, it will require fewer workers, but i will tell you that there is a desperate need for software engineers and microsoft as an example, often are going to other countries because that's where the talent is not because there's fewer jobs here, the more that we can produce software engineers, they're very employable in the united states. stuart: forbes released a list of billionaires in this week, there are five tech billionaires under the age of 40 and all men. why do women have such a then representation in the upper ranks of technology. can you tell me why? >> i think there are fewer going in. it's about 18% of computer science graduates are women. stuart: why? >> and they do leave. stuart: why do you think? >> well, i think that if you look at the k-through 12 education system, it doesn't look very attractive. we have a reputation for having to sit in front of a crt and code. that's not what happens. there are companies that have a high representation of women. stuart: i'm sorry to cut this short. i have news i have to get to. but thanks very much indeed. okay, we are losing our standing in the world. president obama, i'm going to say is in retreat. what's he doing about that? i'll tell you, he's campaigning again. my take on that is next. ♪ >> that so-called phony irs scandal is not going away. it's back. new at 10:00 a tea party member responds to the latest revelations that groups with anti-obama wording in their literature were indeed targeted. plus, the alternative to wildly expensive traditional colleges. online courses, yeah, got that. and we have a new college, cheap college entrant backed by larry summers. got it next hour. i was really surprised when i saw this. the president of brazil has canceled her visit to the white house and the state dinner that went with it? here is my take on america's standing in the world and what president obama is going to do about it. let's get right at it, shall we? when the leader of a second tier power turns you down, you know you're neither feared, respected or admired. brazil's president was due at the white house next month. she's not coming. despite a 20-minute phone call, president obama could not change her mind. she's upset about nsa spying and besides, china is now a bigger trading partner with brazil than america. after the syrian debacle, this is another slap at america's clout in the world. so what is president obama doing in response? he's turning back to what he does best, campaigning, attacking republicans, blaming somebody else for our weak economy. this morning, he welcomes business leaders to the white house. and they are going to come, they have to show up, they have no choice and we know what he's going to tell them because his talking points were leaked last night. he wants business to send a message to republicans, stop blocking job creation measures, don't surrender to extremists who want to shut down the government. remember what happened last time, he says. five years into his presidency, well into the second term, and it still looks like he's running for office, not governing, not dealing with his opponents, just beating them up, campaigning. this is something he's good at. unfortunately, it does nothing for our standing in the world or our economy. u think about . i don't like the ups about . and downs of the market, but i can't just sit on my cash. i want to be prepared for the long haul. ishares minimum latility etfs. investments designed for a smoother ride. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives,risks, . read and consider it carefully before investing. risk includes possible loss of principal. ask me what it's like to get your best night's sleep every night. 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[ male announcer ] get $100 in instant savings when you order digital life smart security. limited availability in select markets. ♪ stuart: at this moment five years ago the panic hit. remembers that? that was then, this is now. the tea party is here. a new irs revelation, conservatives were intimidated during an election campaign. eric bolling will be here, shed down the government over obamacare? two sides to this and there could be a fight too. larry summers, the new jeep college, college cost competition and technology makes you spend more. really? how does that work? we will tell you. a viral particle making fun of obama supporters who frequent wholefoods, is funny. you have to wait another four hours for ben, our second our starts now. ♪ stuart: didn't paula was on camera. i was only scratching my head, not mopping, eyebrow. let's get to the fed. i want your call. this afternoon been speaks. is he going to cut the amount of money he is printing? exo how much? if so when and what is the market reaction? charles: can to $15 billion immediately, market reaction, volatile don't pay attention to between what happens after 2:00 and 4:00 but she doubts i would be very short-lived and wall street will see that as a win/win, still getting some tapering assign the economy is getting better. stuart: when you agree with the consensus which is 10 to $15 billion less. charles: if he goes further in will be a premature victory lap. ben bernanke printed consultant to this corner. you can't make promises and backtrack and the russians can't help him out in this case. stuart: stuart: does russia have a central bank? charles: every country does. president obama was lucky enough not to have to go through his parliament to attack syria. by the way you are always on camera. stuart: thanks very much. breaking news from washington, peter barnes, this is all about the sec wanting to payrolls for c e ls, tell me. >> this comes out of dodd-frank legislation, a union backed provision from dodd-frank that would require companies to disclose the ratio of their ceo's pay for that of the average worker. something that the unions say they want to help highlight what they say is a growing disparity between the papacy ofs and average workers, long delayed, highly controversial but the sec is expecting to propose this rule today and it will be proposing a new rule on more regulation of the municipal-bond market also coming out of the financial. stuart: this is just a rule that says he e os, companies must disclose the difference in pay between the ceo and the average of the people who work for him or her. it is not a rule saying you can't make some much but i put it to you this gives the left ammunition. the left can now say mackenzie's people, look how much they're making, we got to do something about this. am i right? >> exactly what the supporters want. the most recent report on this showed ceos right now make about 350 times the salary or income of an average worker. the unions want to be able to carry the flag on that as they go to shareholder meetings and proxy fights on executive compensation. they want those numbers. stuart: thank you very much, breaking it at 10:00. i thought dodd-frank was supposed to deal with the financial panic. but all of a sudden new rules, tell them how much you are making. charles: this is the kind of stuff that take precedence. it all comes on the heels of let's get higher minimum wage and the report comes out in 2012 and 1 person was the only ones who made money, the afl-cio have a special web site for is this called executive pay watch and they talk about give you all the data, 1980 ceo pay was 42% of the average worker, now 2300, 50%, fueling the 1% crushing the bottom, it is all there, stoking the flames. we are in for a huge fight. the next six months there is a huge fight, white house, unions, everyone. stuart: the run on him. charles: the war of envy, politics of envy will go for broke, a blitzkrieg, get ready for it. stuart: we will. strong profits of fedex putting some companies in the news and their stock prices, companies going to raise prices warned about worldwide slow economic growth. look at that. >> they look through the numbers, really appears great. they cut costs and had lower prices, and raise prices for next year for express shipping, better margins, back there folio numbers and this is another part i was reading in to this, they retired the older, less efficient airplanes, so the costs were less as well. great numbers, off of 3.9%. stuart: that is a big scene for a big company, got it, thank you. i know what you are waiting for and we will give it to you. the latest on the irs. new documents reveal the agency put red flags on political groups based on the content of their literature. any anti obama rhetoric red flag, inflammatory language, red flag. it doesn't look really like the phony scandal the president keeps talking about. let's bring in scotty cues from the tea party. it went away, now it is back. this seems to be conclusive evidence that the machinery of government was used to intimidate people like you. >> 100% but this surprise us, this has been going on since 2010. we all knew it was happening but conspiracy theorists, demonized by the majority of the media thinking we were crazy people with tinfoil on our heads. stuart: it is not a theory, not a feeling out there, it is a series of documents. >> basically backed up what we have all known. what this industry in, do we ever see actual action? do we just see words? when this came out we were surprised it hit the mainstream me the and we had the irs talking about it and the president apologized, does a president ever apologize for anything? besides america's actions? stuart: this would give congress an excuse to bring back lois lerner and give person sends of immunity and tell us what you know, wouldn't it? >> if she kicks off her new promotion, is working with this administration. the problem is is congress going to grow background in this issue and besides a few select few are they going to do something about it? have they done anything or will they wait for the news cycle to cycle out? charles: what is your theory why congress isn't doing anything particularly on the right. some people in the gop might be gloating that the tea party having problems? >> we all know -- charles: the misconception that the tea party is a wing of the republicans, that tea party went to every big government spender out there on the left and right and really upset the power structure. stuart: do you think establishment republicans really want the irs to go after the tea party people? >> that is the question. look who the tea party or even harsh terms because we need to, this is a do or die moments that has been crossed, talking about transparency and ceos what they are making, just the beginning. stuart: you just declared out and out war on the john mccains and other elder statesman. >> was the third months ago. you have people saying if you vote for obamacare and do not work to defund it we will primary you and you are seeing that lindsey graham in south carolina and lamar alexander in tennessee, mitch mcconnell is a pretty good conservative, he has a supposed tea party candidate. stuart: do you approve of this aggressive action against the tea party people? by the tea party against the establishment republicans? charles: the tea party would be disingenuous group if they did not do what they were doing. >> they always say republicans forget. stuart: splitting the party. >> republicans forget. we are not letting it, democrats the splitting of. they have looked at republicans and use the single issue to split us. what we need to do, the majority of republicans are conservatives yet we have been dominated by the moderate view that tells us moderates are the way to go and we keep losing and america is waking up thanks to the irs kandel, thanks to the targeting of verizon, americans are waking up to and going weekend sleep any logger, you have got to get involved. stuart: back to the new documents, inflammatory language and anti obama language, where do you think darrell issa takes this? he is not an establishment republican. >> even though he is the wealthiest of -- he is one of the biggest fighters for freedom up there so he will continue to push it. the problem is the american people, the tea party does a great job demonizing and going after people like marco rubio on one issue like immigration. the american people need to support supporting people when we agree with them, given the same enthusiasm, the same passion say good job so that they are not afraid with every vote they make making the vote for a primary opponent possibly. stuart: making a lot of waves. a couple more issues we want to talk to you about. starbucks, their chief says customers carrying gnger welcom. no reaction to the stock price i am sure. do tell me. nicole: when stock is down 1/4 of 1%, it wasn't until moments ago that i read through his comments that i understood what he is saying. he said in some cases pro-gun activists used staging the -- at starbucks and almost makes it look like starbucks is a supporter of open kerri, then it turns people who are anti-gun to know they don't like that and then in turn there was friction, there was rhetoric, there was a confrontation, customers, people getting involved and hold your flight somewhere else. that is why he is saying this. i didn't realize that. why can't a law-abiding citizen do what they need to do but i am starting to understand there's friction occurring and maybe this is take it outside. stuart: you are still with us, charles, you are still here. back up all little bit. mr. schultz, starbucks, is known as an anti-gun guy. in response to that, a lot of people start taking their guns into starbucks and that you have some altercations. within starbucks with people carrying guns, most people don't like it so along comes mr. shultz and says i don't want this in our stores, please keep your guns out. i don't think there's anything wrong with him saying that. he is trying to run an enterprise. doesn't want a confrontation with guns in his stores. >> what we're seeing across the country, being easily intimidated, when we came out as a pro second amendment folks and praised starbucks it wasn't because we are opening our doors. stuart: what did you present for? >> we are going to back of the laws of the community, the city and the state established. we won't say you can carry a gun or canned. we go with the local law of the community. stuart: when you back to them up with that. if you go to confrontations, got people, your customers very unhappy with guys strapping on a 45 and walking through the door sure you are entitled to say we don't want this in our store. >> we need to look each of these confrontations and where they came from. i have watched this carefully. these confrontations purposely came from those that want gun control, purposely went in and get in the copy with their gun. law-abiding citizens. stuart: understand schulz saying not in my store, a hammer and a capitalist enterprise and want to make a cop. -- profit. >> they want control of their property and that is right but the backlash is all the folks, helping starbucks sales because they've run support of this because we're trying to learn the policies to support those they are all gone. i saw it all over facebook and twitter. they are going to boycott, they ought done. it will drop. i assure you. stuart: you are making stock market -- >> there is an groundswell. there was one saturday that gun control groups promoted it and said don't go to starbucks, nobody went. sales plummeted except everybody went in, holding their guns and that i am here for this reason. stuart: september 18th, '10:00, 11:00 eastern, starbucks at 75 and going down. >> you will continue to go down. stuart: always an interesting program. good stuff. i am running an out of time. two startling numbers. census bureau reports median income 8% below where it was in 2007. paula the rate at 15% back to where it was in the 1960s. charles: when the great society started, lyndon johnson, all these programs that were going to help poverty, poverty is where it was back then. moreover it is significantly higher, kids 18 and under and 18-64 significantly higher. the only place egyptian down is the elderly. i got to tell you the fact that our real incomes are going down we are not talking about adjusted for inflation. real incomes have tumbled dramatically over the last several years and poverty has exploded. we have been fighting this with trillions of dollars for several decades. what is wrong and what is happening? first of all the targets have been wrong. you can't -- their successes not come at the expense of fellow americans. they're success typically generates opportunities for other americans. number 2 the accountability issue, redistribution of accountability. almost everything we have done with poor people in this country has given the excuses, you dropped out, not your fault, we will figure out a way to make it up to you. kids out of wedlock is not your fault, we will make a deal. you shot your neighbor is not your fault, the gun lobby's fault, we have gone too far. stuart: e.u. shot your neighbor is not your fault. you do hear that. charles: not even violence, it is gun violence. stuart: you are still here. >> i don't go away. the tea party doesn't go away. stuart: we are looking at starbucks after this. question we ask frequently on the program, is college worth it. after the break on startup college costs, a start up college that is offering free tuition to start with. that is next. >> where are they? 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[ male announcer ] share more. save more. at&t mobile share for business. ♪ stuart: adobe makes photoshop, it expects strong demand, the stock is up 6%, nice gain for adobe. let's see if charles can give is a nice gain. he will make some money for us. he likes aruba networks. charles: they make networking projects to help businesses in a lot of various particularly mobile but particularly bring your own device. you have a blackberry, we bring it to work and sink in with the corporation and creates a lot of problems particularly in terms of security and i got waxed on this last time, you see the chart but brought it back in and it is pretty good here. i like what they're doing, markets are starting to expand on the service side. looks like it is on the cusp of a breakdown but i will admit last time i did it was a scorcher. stuart: once bitten but not twice shy. nice caveat you have got there. an alternative to traditional college we could all use. robyn goldberg is chief marketing officer of the commander of the project. welcomed to the program. at the moment at the moment you have no campus, you don't have a full roster of faculty, correct? >> we are in our early stages. stuart: next year starting in fall of 2014 you will start to read knit students for their first year, free tuition. >> exactly right. stuart: $10,000 a year, $19,000 for room and board and you are in san francisco. are you positioning yourself as an alternative, cheaper alternative to the incredibly expensive private college market? >> i wouldn't say a cheap alternative but it is an alternative. what we are looking to do is offer an extraordinary education but something affordable and acceptable to students throughout the world. stuart: i don't know what you are all about. here you are. how do i know that if i get a degree from your start up, it will be worth anything? >> we are doing a lot of things, to put the pieces in place to make this an amazing experience, education and experience with curriculum that is unparalleled as well as cultural immersion experience that allows students to see the world. stuart: cultural immersion experience. what is that? >> what we want to do is prepare global leaders and innovators and the way to do that is make sure they have an appreciation for the globe and the world around them. every semester the students have an opportunity to visit another cosmopolitan city, steady there, work there, do their college experience where they have an opportunity. stuart: when you got satellite campuses, sydney, london, cape town, south africa. how much of this is taught online? a terrific way of cutting costs. >> students residing residence halls in these cities you mentioned starting with san francisco in their freshman year and moving every semester thereafter. in order to enable -- stuart: they move? >> yes. every semester they will move so they start first year in san francisco and move to hong kong, up mumbai, sidney, berlin and every semester as an opportunity to live in a difference in. don: he will encourage this. >> we encourage it because it is an important part of the experience. stuart: you can do all of that for $10,000 a year tuition, $19,000 room and board no matter where they are living. charles: they are running the first -- the school board. stuart: here's what you have not told us. this is your ace in the hole. larry summers is backing the manner of a project. he is involved in this. >> we have a wonderful advisory board that has been tremendous in getting his guidance and what we want to do is create an institution people can feel comfortable with and larry summers, bob kerrey, pat harper, all members of the advisory board have been tremendous. stuart: that is very interesting. thanks for bringing it to our attention. we're interested in the idea of an alternative to the superexpensive cost of traditional college. charles: one or two conservatives in there. wrap it up a little bit. stuart: political diversity. >> we will be helping to educate future beaters regardless. stuart: charles and i are available. thank you very much, good stuff. the lines are drawn in the sand over obamacare and republicans, especially republicans are divided over this. eric bolling is this. tv ads to this after the break. >> an exception and. members of congress, they get an exception. and now you are saying they want an exception. i got a simple question, mr. president. how about an exception for hard working american families? you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪ paying ourselves to do what we love? nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. stuart: the energy department is selling its $192 million loan made to the troubled carmakers is the automotive, made the loan in 2009 as part of the obama administration's idea to promote green energy. what is going on with this? tell me what is happening. >> they can't do anything with this. it is 1 sixty-eight million, a few bucks back. they defended the program, this one was a loss. most of this hasn't lost. stuart: sell the loan, government takes the loss, somebody buys this loan for pennies on the dollar presumably, and that money they pay for the loan goes to cisco and the person who owned alone is trying to get their back. is that it? charles: the person who owns a loan for the most part is an american. we make the loan. stuart: we are selling it to anybody wants to own it. pennies on the dollar. charles: the italian launch, maybe she could buy the company. stuart: is she the chair? so at the end of the period, the end of the month, end of the quarter, end of the year, last second, how many shows have charles, you and i sat until the last minute on the last night and somehow they figure out a way to fund the government? the trick is for the gop to find a way to fund the government and still defund obamacare. a tight rope to walk. i am not sure they will do it. they will probably not be able to do it but they have to do something. stuart: they will send the bill to the senate which says we will fund from the government but not obamacare. the senate will strip away we are not funded obamacare and send it back to a conference committee where upon the idea of defending it will die. >> polk process breaks down when even if they all decide to defund obamacare president obama has to sign the legislation and he is not going to do it. i think this is really a game they have to play because the american people deserve to know where people stand on the issue of obamacare and the far right, the right. charles: with dignity. >> they do it because it is the right fight. we are against it and willing to d funds, will intergovernment to shut down if we get our way on this and at the end of the day they have to say we will fund the government because we want people to get their social security checks. we're still against it. stuart: eric bolling, would you shut down the government? you would do this? you wouldn't worry about -- >> it is not that dangerous to the economy. it is that dangerous because it could actually -- we don't even know how big it will be. they promised us $980 billion when they signed into law. it is above $1.8 trillion and not even implemented. there could be multiples of that. is that dangerous. it is a fight for right lost. we lost the fight, they got a lot, but went through the supreme court and supreme court made it law. you lost the fight but you fight the good fight and in the end that didn't work out people know where you stand. stuart: when you would shut it down but would you be prepared to lose hands down big time in 2014? >> that is the only way. the only way to get changes be willing to take some losses on the way and that is what the conservative movement has to be willing to take the losses, take the lumps on the way. stuart: the politically suicidal eric bolling. >> a win in the long run. you have to have your eye on the prize and that is eventually getting congress and the senate that is conservative. stuart: on sean hannity last night you should have seen up me argue the other side and the e-mails i got. >> i heard. stuart: vicious. thanks very much. good stuff. question. does a twitter ipo mean it will lose its cool factor? up next the twitter kid could stand to make even more money once the company goes public and still a teenager. that is next. thk you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. 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[ woman ] time for change! stuart: larry 11 from chicago, i want you to know if you are in the consensus camp with ben cutting printing by $10 billion a month. you agree with that? >> people are saying 10 to fifteen million, in that range. if it is more we will see more fireworks. and a little fullback, the markets, it won't be too much action. a lot of your viewers out there we want something outside the norm to get aggressive action. stuart: we are going to be carrying this at 2:30 and 2:00, will it be cleaned at? ladies and gentlemen we will cut the printing 5 to $15 billion a month starting now. will it be that clear cut? >> it won't be that clear cut. you need to read between the lines and preface this by saying the economy is slowly improving but not as much as we went and did is the same old thing. lot of traders are ready for that. stuart: a college industry around reading the tea leaves. thank you very much. i want to move to the twitter, the ipo. they are going to do it in the future. world going public, hurt their school factor. peter, the single vision founder, his company is based on reading conlan analyzing twitter feeds. okay, they go public, they do the ipo, do they lose their cool the way facebook lost its cool before it went public? >> the short answer is no. couple things blinded but when it comes down to is facebook didn't have mobile figured out when it went public. twitter does. twitter has mobile revenue set up, facebook did. it is a lot easier for twitter to do it because they were text based web content based insert paid advertising and people streams of bodies year for facebook back in the day. stuart: your whole company, civil vision is based on twitter. that is what you've got. is it going to help you make more money? >> if it attracts people to the brand, it is there to do our job. peter: when you like the idea of going public? >> yes. twitter has not changed paula, they generate plenty of revenue pushing $600 billion a year over year doubling. you don't have to change much to do well which i am confident with and basically i do not think the pool factor will be lost and yes, it will help us. stuart: i know you scan all the time, your algorithms can solve these keywords people a tweeting. what is the latest trend you can tell me about? >> crazy stuff has been happening, political stuff is continuing to happen in the middle east. we are still seeing discussions day over day of the static nature of the political discussion in the middle east has not changed in the last few months coming off the tunisian stuff, iranian election, we are not seeing a decrease in political discussion which is interesting because it has toned down in terms of general media conversation but it is still happening. stuart: joining us from california did you just start college out there? >> last week. don: which college? >> ucla. stuart: what you studying? >> computer science. stuart: what you going to do with a computer science degree? >> work on my algorithms. stuart: got an office where company at? >> not up here. stuart: we will see what we can do for you. what do you mean not out here? and algorithm will come from california. good luck to you, stay in touch, see you soon. dow down 36 points, pretty much on hold as we head towards the big announcement from the fed at 2:00 and speaking publicly at 2:30. watch it on fox business. more and more companies making the apps so you can buy your products through their smart phone. it feels like spending fake money. because of that you will be spending more. we will deal with that next. >> i have three kids and no money. why can't i have no kids and free money? 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(vo) meee-ow, business pro. meee-ow. go national. go like a pro. see who does good work and compare costs. it doesn't usually work that way with health care. but with unitedhealthcare, i get information on quality rated doctors, treatment options and estimates for how much i'll pay. that helps me, and my guys, make better decisions. i don't like guesses with my business, and definitely not with our health. innovations that work for you. that's health in numbers. unitedhealthcare. stuart: news on the housing front, 11% jump in u.s. mortgage applications this week from last week. mortgage bankers association says a declining interest-rate helps fuel the increase. tesla, the latest automakers to jump into the self driving card game, ceo elon musk working to develop a car that can handle 90% of the driving in the next three years. not the first automaker to announce a deadline, earlier this month nissan said it is hoping to have a self driving car on the road by 2020. fever sweeping the country, power ball jackpot of to $400 million, the nation's fifth largest rise ever. after taxes the winner could take home a lump-sum, $216 million. the odds of winning are one in 1 seventy-five million. next, spend more money. any last requests mr. baldwin? do you mind grabbing my phone and opening the capital one purchase eraser? i need to redeem some venture miles before my demise. okay. it's easy to erase any recent travel expense i want. just pick that flight right there. mmm hmmm. give it a few taps, and...it's taken care of. this is pretty easy, and i see it works on hotels too. you bet. now if you like that, press the red button on top. ♪ how did he not see that coming? what's in your wallet? stuart: i am told it is an internet sensation, grumpy catch. it landed an endorsement deal comedy specials polkscat for frisky granted. grumpy's catch is really as carter's cause rose to stardom thanks to his prominence call. the forlorn feline has its own line of from the cat merchandize send out a movie deal in the works. nestle purina has not disclosed the terms of the endorsement deal. apple, new operating system today, released at 1:00 eastern, stock is up. >> let's look at the stock of 1.9%, see 3386. i held clumsy cat in our fox building, smaller than i thought, interesting apple, the new phones are coming out, single print technology getting rid reviews, and security consent to. a long-term shareholder waiting for innovation. waiting for the next great product. sans nt with the watch. where is apple tv, that is what i want to see. this isn't cutting it. stuart: you are hard to please. thank you very much. the tech trend of the moment is tech is emptying your wallet faster than you think. force that allow you to pay through their instant bosh apps on your phone nick it mornvenie convenient to lose track of how much you are spending. here is dr. jeff, welcome back a long time no see. >> a pleasure to be with you. if it is so easy to spend the money i use saying basically we spend more? >> we spend much more because we are delaying what the consequences are, picking for in real dollars what it is you are buying. stuart: no but he's in real dollars and more. they put down the plastic. >> it makes it much easier and as charles pointed offline, some advertising is you deserve to be able to buy what you want right now and this whole idea we had in the american mentality and i americans even though you are english, this whole idea of this whole idea of not having that dilemma of gratification. stuart: is this a criticism of america? consume consume consume, whether you can they afford is irrelevant, but out the bill irrelevant. consume. that sounds to me like the critique of american society. >> i love american society. stuart: you of consuming? >> american society and we need to tell the truth, look at what it is we actually have in hand, stop this whole idea, paid for it later on, come out of my account later on, let me purchase now and now, if we spend more in cashen said of credit we would know exactly what the limited limitations on out of sight out of mind. and use that term the times. stuart: do you have cash on you now? a credit card? >> i use it as a debit card, not a credit card. stuart: via a smart and? >> yes. i done users sometimes. stuart: you at any now by apps? >> i won't get it. will be honest with you. for the simple fact that i like to know exactly what is going on in my account at this particular time. this apps may work for other people. they have the resources, they get what they want instantly, it is easier for them. stuart: makes it easier, doesn't it? charles: makes easy and convenient but we are waiting for the federal reserve, the biggest thing the fed has been getting to do is spend money we don't have, go out and buy a house or use credit card, the american public credit on this. so far there have resisted that. they are not saving money but not delving into debt like they did before. stuart: you don't approve of this? >> not the don't approve. we need to be careful. we don't need another means to move too quickly. we say this as strength. think about what you are doing, think about it before you make that move, understand what the consequences are instead of going instantly, have to have it now. stuart: think the and the american culture? >> i think so even though i will say this to you. people who listen to my words sound tough on them but i am about the real deal in telling the truth and the truth hurts. stuart: pointing your finger again. et do it this way. stuart: thanks very much. the private industry space race is on. a private company about to launch a resupply mission to the international space station. watch out, elon musk, you have some competition. we will take you to virginia where blastoff is coming any mention of. lou: coming up on lou dobbs tonight our exclusive interview with heritage foundation president jim demint on how to restore prosperity, cut deficits and the antics are broken immigration system. all of that tonight at 7:00 eastern. stuart: bring this to your attention a blog post going viral titled surviving whole foods. another quote for you. whole foods is like vegas. you go there to feel good but you leave broke, disoriented and with a newfound knowledge that you have a disease. i got to say i don't quite understand this. what we're talking about disease? charles: people love it because you talk about initially going into and talked-about thinking about going to happen and polk foods but once you get to 42 different kinds of gluten free stuff, then she is not rich enough for dietary restrictions and talk about this machine she uses to look at her wrinkles and age spots and gives her 78% rating on ugly then she goes to another island and becomes a hypochondriac. by the time she gets through, she skipped a group cleansing island by the time she gets through it she feels like this thing wasn't happen after all. stuart: nicole petallides wants to get into this. nicole: another one, he did a great job putting a lot of them but whole wheat bread, they say we keep the coins in aisle 7 and it's pretty unbelievable land polk place, by the time you leave you are so frustrated and you stand on the long lines and realize you forgot your reusable bags and the person you are. stuart: kind of a spoof. it is funny, a spoof, taken the mickey out of whole foods and the epic in wholefoods. that is what it is doing. would you agree with that? >> it is somewhat of a spoof but if you things, i got to go to a and b. i can live on hold foods. stuart: everybody check this out. a private private company launching a resupply mission to the international space station. of the mission is a success, $1.9 billion contract with nasa. elon musk's space x does the same thing. charles is with us. you recommended this company yesterday. charles: we all do. this is a test to go to the international space station, one american astronaut there and her family put together a care package for so she will get her chocolates and everything. it will be great. if this works, two more missions, the private sector doing what nasa couldn't do, make it more affordable. it is fantastic. it is called the cygnus' which is free swan, huge potential. stuart: we are trying to bring the actual launch a few minutes from now, breaking news out of washington, the white house sent a memo to federal agencies telling them to prepare for a partial government shutdown oct. first. we will be back in a moment. no two people have the same financial goals. pnc investments works with you to understand yours and helps plan for your retirement. talk to a pnc investments financial advisor today. ♪ [ male announcer ] now, taking care of things at home is just a tap away. ♪ introducing at&t digital life... ♪ ...personalized home security and automation... 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[ male announcer ] get $100 in instant savings when you order digital life smart security. limited availability in select markets. ♪ ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. stuart: look at it, please. we are in the final seconds of countdown. orbital sciences, let's listen into the final final seconds. >> three-two-one-we have a condition. we have liftoff. cargo vehicle to the international space station. stuart: let's not forget, everybody, this is private enterprise. this is not nassau taking off from cape canaveral. they are taking off from virginia. it looks like a successful lift off and launch. you should have seen charles sweating on that liftoff. charles: every time you see those, you get goosebumps. stuart: if you are on the eastern seaboard, new york, down to washington, you can probably see this taking off right now. that looks like a successful launch to me. i like this stuff. i like space. charles: need to. you can use this technology for other things. stuart: you are in luck, charles. you recommended the stock. connell, it is yours. connell: a live rocket launch to wrap up your show. that is great. walgreens setting the stage for big corporations to follow. we will talk about starbucks. they preferred you leave your guns at home. do not bring them in the store. we will talk about just how much johnny mandell is really worth. we hear a lot about quantitative easing. more than 70% of americans still do not understand it. we are here to help out with that and everything else. that is this hour on markets now. ♪ dagen: t