The white house says the small business jobs bill will offer about $12 billion in tax breaks, eight new tax cuts will go into effect today. the bill extends lending by the small business administration giving many small companies the credit they need right now. and it s expected to create about 500 jobs. check that, 500,000 jobs. that is for signing later today in the east room of the white house. 7 minutes past the hour now. martha: if you open your statement on our 401k and notice there are some pretty nice gains in there in the recent month you might ask yourself, why would that be? one big reason according to stewart varney, anchor of varn varney & company on the fox news network. when there is more money in there i don t have zoom questions. i m just glad it s there. what do you think is driving this. reporter: politics, political shift. the possibility of a change in economic direction, policy direction if the republicans sweep in november. all the way through the month of sept
Pay what they are paying right now. gene taylor is talking if we do even keep the majority, andrea we shouldn t keep her. pelosi is in big trouble. she sacrificed her members on the healthcare. the members are fighting for their political lives. she s given them nothing to run on. the only reason that some of them are trying to stay alive is they are pretending to be republicans. all morning we ve been talking about the bush tax cuts, the reason the democrats won t vote on it is because they don t have the votes. pelosi will not bring a bill to the floor that she knows she will loose. the reason they don t vote on it is they are being tkepl a going demagogged by republicans. i ve been up against it for 30 years. i ve never heard them be honest once in that 30-year period of
Videotape. they said it did happen. the two helicopters were attempting a hover maneuver but lost power descending into the water. eventually both choppers were able to right themselves and land at a nearby airport. they are okay, they are cool. it almost looked as though it was intentional. martha: it s incredible that you can liftoff the water and land safely after that. it s unbelievable. bill: and they picked like the nicest place in the country to do it, lake tahoe, second week in september. martha: that is scary looking. bill: all right. martha: well proof for you this morning that belt-tightening actually does work for states. the state of rhode island turned a $62 million deficit into a $17 million surplus, it can be done. how did they do it? rick leventhal joins us live in our new york city newsroom. maybe this is something that all states should pay attention to. what is going on in rhode island.
To take a stand, democrats punting on this is a bad move. bill: you heard david abg elrod from the white house, he blames republicans. he says republicans on the senate side, knowing you re on the house side. republicans on the senate side are holding this thing up. is he right? or are there enough democrats on the fence to say, hang on a moment. bill, if they ve got time to have a hearing with stephen colbert they can take a vote on pending tax relief. i believe all the tax cuts would be extending but they just don t want to hold that vote. bill: on the screen you can see for a family of four making $50,000 a year, if the tax cuts are not extended they will pay $2,900 more in taxes during a time when as you no and you ve stated and we talked to stu varney that the economy is still struggling. family of four making a hundred
That would end that uncertainty. but you re right, the stock market anticipates what is likely to happen in the future. and the market is saying this is going to be a rally for the economy and the stock market because of a republican sweep. martha: then you know what happens when that thing actually happens the market pulls back. reporter: wall street can never work it out but right now it s a republican rally. martha: very interesting. thank you so much. bill: nine minutes past the hour. a father in california accused of going way too far when trying to teach his stepdaughter s boyfriend a lesson in young love. this does not bode well for you. do you know what that means? yeah, not a good thing that the person you have sex with is a cop s daughter. bill: what the police officer did and the boy s attorney tells us why he thinks it all went too far. he rents the parents of that boy. martha: the fear of god in that