see continuing exodus from places like new york, california expensive dangerous to places like, texas and florida. and not just taxes and regulation when we talking about liberty, obviously, the lockdown era, showed us, which states enabled the people live the way they want to live but kind of a vicious cycle now, where all of those people fleeing jurisdictions would probably be reformed voters. so it makes it harder in some ways to turn around places that need a new political direction, because a lot of those potential votes for reform are now in florida and zwrooz the dthe. >> you are talking aboutd democrats they might have made a change here but now they are there. >> how does republican win miami-dade county a part of the story i mean not helpless,

because eventually reality intrudes you see even liberal governors kathy hochul in new york saying we've got to stop of all these people hasn't quietly made leap to the policy -- >> we're not there yet james todd stay right there next hour of "mornings with maria" starts right now. . jackie: good morning, everybody. i am jackie deangelis in for maria bartiromo. it is wednesday, january 4, top stories 8:00 a.m. eastern time, markets this morning, pointing to a rebound futures ul in the green straight across the board saugz there, this after finding first day of 2023 in the red but wasn't a deep sell-off, tech energy stocks those were the ones driving things lower, as investors were weighing fresh fears over growth, earningss we are going to be getting fed minutes from december fed

meeting today 2 pm owner time, look at the two-year and 10-year yields in anticipation of that. meantime, brent anded crude oil, both down this morning, west texas intermediate under 7 a barrel brent under 80, european markets take a look, like this, green across the board, as well, in asia overnight, markets mostly higher, the exception was nikkei, hang seng clear win up 3.2%. and speakership stalemate for the first time in a century the issues house majority closes first day of congress without electing a speaker now no congressman can be officially sworn in until gop finds a consensus on who deserves gavel speaking with scott perry. "mornings with maria" is live right now. president biden, joining senate minority leader mitch mcconnell in kentucky for

event aimed at touting economic agenda the one trillion-dollar infrastructure bill, meanwhile, a gallup poll reveals nearly 80% americans are expecting economic difficulty in 2023 with 20% expecting a year of economic prosperity. >> 18% anticipating taxes, will rise this year are in 63% seeing the stock market falling, inject me for hot topics all morning long to do to do james freeman great to be with both of you james talk about this a bit your reaction to some statistics how the people peel about economy how they feel about stock market, what happened over the course of last two years. it has been rough. john: inflation hits everybody stocks a terrible year in 2022 you ins why are pessimism i think we still have very good job market i don't think deemed to a recession but president the would really help things getting together with republicans on the hill, talking about, pro growth

economics. jackie: right. >> regulatory reformer talking oil and energy you are don't have to repeal inflation reduction act but how about incentives to produce. jackie: instead on spending spree expectation is that that will stop soon. but even this last bill omnibus by many a lot of money 1.7 trillion. todd: take all that on whole james i respectfully disagree with you recessions are self-fulfill prophesies they show american people think we are in a bad state if they think like that federal government government on whole the country on a whole he they are going to pare down personal lives when they do that, that is less money, consumer spending in the economy, and that i think we are in a recession now to be perfectly frank i think that worsens over the course of 2023, so i am worried about a bloodbath when it comes to stock market, when it comes to jobs i am not as optimistic as you i certainly hope i am wrong james. jackie: i agree with you

actually, regarding sentiment, but we still see trends consumer is alive and well may not have money spending may be putting on credit cards a whole other mess they could be potentially getting into but hasn't slowed as much as i thought would it by now. >> what happens when we start paring jobs what happens when person making 100% at job x, in january, has to go to job y, in maufsh making 75% that is discretionary income coming off the table we had a christmas son valentine's day isn't that big spendrer east not that bike i am worried about what first quarter first half of the year is going to maintain in consumers of consumer discretionary spending people still buy food, oil you needed those things the stuff that fuels the economy i am worried about that. jackie: seasonal first quarter slow hard during christmas season to not try to make a family happy especially if if hard times i think people really wand to feel

that this particularly holiday season jamess what do you think? i mean -- >>. john: i take it seriously sentiment bad not just expert economists have predicted, 11 of last three recessions whatever that old joke is i mean obvious that people are feeling the pain, seeing it in prices, it beyond the job market there are positive signs business investment held up pretty well, i also think we still have in united states, a fairly competitive tax system the 2017 reforms largely still intact a bunch not helpful taxes especially on energy, are enacted toward the end of the year here, 2022. but, look. there is -- the president decided today that he wants to turn toward emphasizing growth i don't think it is too late i don't think we're doomed to have a terrible -- recession, here and i think i go, by the way, it is a great way for him

i don't know a lot of people wonder why he is running for reflex if he does want to run that is great way to get reelected, intraif growth a good ten years leading up to 2024. jackie: i follow on your tax point i hear you regarding the tax code but inflation has been a huge tax that is policy -- john: it is completely made in washington phenomena. federal reserve printed too much money seem to be maybe got religion at least on a path towards sound money but fiscal authorities white house big report of the problem as well, no refrm there maybe fool ish to think is there going to be a turn i would hope if nothing else president would see it is in his interest to have a strong economy going into reflex effortv. todd: my concern off a number of issues not least of by the

show that comes on after us it was is not stu but guy on show watch out for credit markets not just i run a business need credit we know, in trouble because of high interest rates, also, individual personal spending credit people tapped out on credit cards, some point if they lose -- >> huge personal finance no-no racking up credit cards we were in better shape in the pandemic people blew through that now back to he leveraging plastic we have to leave it there we've got a lot more, to get into coming up a rough start to 2023 for the markets futures rebounding this morning we await for colludes from fed with december fed minutes out today, fitness club banning new multiply sign ups on one day it makes most sense a big buzz this morning we've got everything you need to know ahead you are watching "mornings with maria" live on fox business. . ♪

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a once-daily pill that goes beyond lowering a1c? we're on it. we're on it. we're on it with jardiance. ask your doctor about jardiance. ground after rough start to 2023 my guess predicts first three or four months of the year will be dicey for markets, joining me chief investment officer scott ladner great to see you i bring people on shop market conferences one side of the coin is a little doom and gloom recession, layoffs, fed rate hikes the other side says no there are bargains economy probably okay this year and it is not so bad. your thoughts. >> i guess i come in -- a little bit, really, timing of this we think that generally the way this year's playing out first quarter, earnings

still come down into slowdown that part is challenging the fact we think most headwinds investors fived in 2022,smieng summertime, the pail out of china, inflation is in process being being slayed, probably by summertime -- can't predict what one is going to do we think more likely than not russia-ukraine war ends up ending sometime this year, i we think first quarter is going to be tough after first quarter tailwinds could actually pick up. >> i am going to drill down on something you side does wall street see a resolution in the russian-ukraine role based on generals military people i talk with they do not.

>> you know, wall street does a lot of game theory, game theory think about how working, what each needs out of it what outcomes may see seems to us this is probably not can go on 12 more months nieb even another nine but another 12 months conflict what is going one damage on both sides makes it seem peg as some sort ofs resolution to it more likely outcome in summer, that is not -- very uncertain but something that we are preparing for something right now. jackie: looking at markets right now, though, shares of apple, they fell yesterday, to 52-week low, apple market expect a falling under two trillion dollars, 2022 pretty

much a beat down apple some ways sets barometer for other companies people look as it as gold star standard. >> yeah look, you are right, it, for anybody around in internet bubble burst 20 something years ago same kind of story, what we had in 2022 was big boys amazon, google, microsoft, apple, they all took beating as well but really the tech companies took it on the chin, the boying boys came down about 50%, price earnings ratio from 80 to 30, right now from 40 to 20, some tech companies from sky-high valuations to probably going to zero some point this year, so we think that the tech companies that can make money will be really well positioned as we come into spring and summer because we are expecting a growth slowdown, and means growth is

scarce those companies have characteristic that is scarce, the value meaning growth we think tech companies can do pretty well the ones that make money probably other couple months valuation compression before we get to other side. john: james freeman "the wall street journal" good to hear general positive take on short-term future i am wondering long term what impact do you think burden of federal debt has on a the prospects for u.s. growth for the economy, for stocks. we are obviously, watching this fight in washington right now which is at least partly about changing the trajectory of federal spend do you go look at that a significant factor or not a concern as you evaluate the economy and companies? >> yeah look it is has to be a factor, it is the question is is it a factor today? with interest rates, you know where they are right now, proerjd we think going lower by the end of the year, the debt service part matters the

debt service, corporations, united states government and for people is actually in a pretty healthy spot the problem will come james if we were to have higher interest rates for longer, we see 10-year rate go up to 5, 6%, something like that talking corporate debt resetting much higher levels more expensive levels, the deposit debt much higher interest levels concerned with on investment front. but for right now next quarter or two at least not something we think we need to be concerned with. jackie: let me ask you what we're seeing in commodity market some volatility there,, impacts inflation -- we were discussing earlier, how the administration might have gotten lucky got seasonal factors, playing a role here you've got china lockdowns playing a role here, if crude oil spikes again back to 100 dollar level, i mavenlg that is going to make things this

year very challenging. >> yeah look definitely, from head winds thinking about but china reopening i think, that is going to be a big tailwind towards, budgets, china buys a lot of tough build a lot of stuff the kind of counterbalance to that the gobble growth slowdown just starting to experiencing right now, so, you know, we do think might be a dichotomy between, you know energy related, economies we think holding up okay build receipted commodities lumber copper industrial commodities those types of things will probably suffer because of global slowdown we're just starting to experience. >> is it good to see you. thank you so much happy new year to you. >> thank you, jackie. >> morning mover up after company announced would it layoff 10% of employees, and

close some offices as part of restructuring plans in a rshth filing software company said it plans to complete restructuring by the end of 2024 reduce real estate in 2026, sales of salesforce fell, premarket, almost 4%, karine jean-pierre once again dodging questions on hunter biden business dealings wait until you hear how she spins this toward republicans. stay with us. ♪ ♪ . bath fitter is a better way to remodel your tub.

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>>. >> they claim to have evidence that joe biden lied to american people about hays involvement and in his family business schemes, did he -- >> house republicans promised fighting inflation during midterms was number one priority insteaded what they're doing, is, wanting to do an investigation, on the president and his family that is their focus they don't want to focus on american people and their family. they want to focus, on political division. >> that was white house press second karine jean-pierre once again dosageing questions if

president biden knew anything i go about his son's business deals 2022 marking four years o federal poebz into first son's influence peddling, joining me washington times opinion editor fox news contributor charles hertz. >> your reaction to karine jean-pierre there that is the obvious spin here having said that, yes -- worried about american people's families but a lot of those people are very curious about what happened here with hunter biden, with laptop, with stories that approve to have a lot more merit can theme gave them credit for. >> oh, absolutely, no, i think very important obviously, people care about their kitchen table issues very much. but they can also, at the same time care about the fact that you have a family in the white house, that is clearly you know, we have mountains and mountains of evidence, white house pretends doesn't exist that proves they've been working very much together, joe biden is very much aware

of what his son has been doing. in his name, around the world. to make his family millions and-million-dollar of dollars, and clearing influence our foreign policy. were a the world her sometime the absolutely astonishing to me the idea she would hide labors of the american people talking about how republicans are concerned about inflation republicans are concerned about inflation but it is in addition that is largely been created by joe biden's administration. when is, really takes a lot of gall to hide behind people like that. jackie: basically, the story was suppressed before last election, but if biden runs in 2024 people would like some absences to get to the bottom of it because we have found evidence that it would have influenced, many people's decisions who they were voting for for the president it is relevant does matter, elon

musk tropic dwirl files parts 11 and 12 kicking off 2023, reveals twitter was pressured to gailtrun influence following 2016 election when they couldn't find it fbi told them keep looking part 12 exposing democrat congressman adam schiff's office made a request to ban certain accounts over alleged harassment with respect to staffers musk is teasing going to release those fauci files later this week so much information almost hard to take it all in. >> really is, and, are it is the beauty and problem with this sort of unfiltered information i love it as reporter because you get to see it in varnished by anything right there you can see the memos the emails texts

between governmentals and twitter an avenue avalanche of information government social media companies will never get over the fact donald trump so effectively used social media in 2016, to get himself elected. and from the day he got elected, they set about trying to make sure that that never happened again, and what we're seeing right here is exactly that, the -- the number of requests and demands made by the government, to -- to twitter, to remove journalists you have adam schiff, who is perhaps the most prodigious liar to ever serve in congress, intel committee chairman, ordering, honesty journalists removed from twitter, for honorest reporting of his committee, it is really he really amazing. and, of course, he actually you know, you know, are the -- the record of success, that

adam schiff the government had, actually removing people from the platform, is -- should be terrifying to everyone. >> yeah, also, you know, in our most pressing kind of stories today three separate votes for house speaker ending with no one at helm kevin mccarthy failing to net necessary 2 18 votes, 20 incoming congressional misrepresents choose ohio jim jim jordan. >> are you going to stay in the race for mccarthy -- >>. >> i have the record, for the longest speech ever on the floor i don't have a problem getting a record for the most votes for speakering too. >> reaction? >> so, i know the real problem with never mccarthy people have is that they haven't seen really coalesced around anybody who wants job jim jordan made it clear he doesn't want the job i actually believe him because,

you know, not to say he wouldn't want the job in the future but i think he intensely focused on investigations particularly hunter biden, joe biden in it he wants to pursue those investigations that is real problem to put in perspective, i don't think in two years, we are going to be sitting around talking about yesterday, a very bad day, for kevin mccarthy, but that said, you know, i do think that if -- you know -- as bad as that was yesterday, kevin mccarthy's biggest problem if he actually succeeds getting speaker hip is making a very slim majority over the next two years against a senate that is clearly willing to play footsie with the president and joe biden white house going to be a tough two years, and republicans are going to have to hold strong, and figure out what it is they want to fight

on, fight on those things, because, it is -- you know not like able to get a lot done their best their best service to the country is going to be stopping democrats. jackie: bloc spending what i would say, you know but this infighting chase strategically speaking longer it plays out the worst it makes everybody look we will continue to follow it today, starting this afternoon charlie hurt good to see you. thank you so much. >> good to see you. jackie: coming up gridlock in washington lack of hours speaker means no congressional member can be sworn in pennsylvania congressman scott perry weighs in on kevin mccarthy's chances, next. ♪ ♪ . sometimes you're so busy taking care of everyone else you don't do enough for yourself, or your mouth. but eventually, it will remind you. when it does, aspen dental is here for you.

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>> . jackie: i am jackie deangelis

top stories watching this morning west coast bracing for impacting root massive storm making its way, toward day san francisco bay area bringing heavy rain, high winds up to 8 inches of snow. this potential cyclone expected one of the most intense in sometime, reeling from a webbed of mudslides and flooding the latest on the storm. >> for the first time in the u.s. food drug administration will allow real pharmacies to sell abortion pills in the united states need to apply for certification to distribute pills to give directly to patients. of prescription is still required, under the new rule but patients can pick up the pill in the store, or by mail order. >> disgraced ftx founder sam bankman-fried pleading not guilty to all 8 a fraud conspiracy counts against him in new york city courtroom yesterday ordered to do stay clear of xipt exchange due to

repeat suspicious activist some virtual a wallets. >> if being convicted on all charges bankman-fried could today is up to 115 years in bring all four walked away unscathed after tesla plunged off 250-foot cliff the devil's slide kwu tales airlifted rushed them to the hospital two children have no injuries, mom and dad treated for nonlife-threatening injuries investigators believe the father intentionally drove at thes tla off cliff he was arrested under suspicion tempted to murder child abuse. >> noon republican laums will again try to electric next

speaker of the house kevin mccarthy gained 202 votes needs 218 jim jordan doesn't want job received 20 votes mccarthy says not going anywhere. >> are you going to stay in the race leader mccarthy. >> look i have the record, for the longest speech ever on the floor i don't have a problem getting a record for the most votes for speaker too. jackie: joining me now chairman of the freedom caucus pennsylvania congressman-elect scott perry good to see you this morning a pleasure to have you here i want to ask if you think mccarthy will become the speaker. >> look jackie thanks very much for the opportunity it is washington, d.c. never nef too outrageous in predictions here anything can happen i will tell you, it is not trending in his favor right now, we will see what happens, things might have changed overnight i can't say i know they have

like i said it wasn't trending in is the favor the end of the day yesterday we will see how it plays out starting at noon. jackie: an you are one of the ones who is asking for jim jordan. pt to be speaker, one of the 20 do you think that he will end up with a gavel is if it is not a job he wants. he has made that clearp florida matt gaetz nominated him yesterday. >> maybe right person for the job speaker of the house isn't someone who wants it so bad. maybe jim jordan is the right person for speaker of the house because he is not beholden to lobbyists, and special interests, who have corrupted this place and corrupted this nation under the leadership of both republicans, and democrats. jackie: i am sure jim jordan would serve if elected but right now mccarthy clearly does have the majority,

congressman-elect i -- i ask if this kind of chaotic situation how does it happen. >> not great for party we figure out now or fighting amongst each other next two years a while none of us want to deal with this right now for my part i have started this discussion last summer the fact at this point because mr. mccarthy has been generally intrack nl until last minute with that having been said if you watch the speech jim jordan gave most respects sat there said, my goodness why isn't this guy running for speaker? i know jim would be reluctant, george washington was reluctant when this is country called. so the way this works is no one will step up until the guy that is at the top steps aside. because, there is a lot of deal that have been made a lot of people have things invested in person that looks like it's

going to be at the top unfortunately, a lot of punishment meted out for not vogt right way seem are mindful of that. congressman-elect you have paying intense criticism for o pogueing, saying you prefer democrats agenda, saying that you are a member of chaos caucuses, in quote taliban 20 how do you spn. >> first of all, the union form like bacon did they know outrageous over top person attacks tacts from people can't winner on merits of argument honestly on their record i will tell you this there are members are past and present that have a vested interest in protecting the swamp and status quo somebody has to fight for american

people know this always happens to them keeps happening somebody has to fight for them that is us that is who is doing it we're not going to back down for them. >> congressman todd piro here congressman -elect i should say what do you want kevin mccarthy to change now in an effort to get your vote, i think that is one thing we're missing seen heard specifics from 20 of you. >> so, i would characterize it look everybody is in a different place with that, but the the tools necessary to make sure that what just happened 12 days ago where 1.7 trillion-dollar spending package that had no, no has no funding so to speak, dropped 4,000 pages in the middle of the night with 7,000 earmarks, doesn't continue to happen. that is what we're looking for tools rand structure to stop that, so far rarl what have mr. mccarthy has told you and everybody else he has given nothing has -- nothing that he has given so to speak stops any of that, oh, by the way, he has a long record, of

supporting those things so very guy -- >> -- >> ro. >> didn't he opposes that omnibus? >> he opposed this one but in 2022 in march he voted for it in 2021, in 2020, in 2019, 2018, 2017 how far do you want to go back that is why a trust issue with leader mccarthy i am just look putting out there, and it has been said before, you don't have to trust me you can just go to about what his previous boss former congressman that he served for said about him, so there are issues here that have to be resolved he is only one can do it if he can't somebody else might have to step up kind of where we are. jackie: i hear you that is where we are congressman-elect i am going to keep calling you that until we have a speaker we can't -- nobody can remove forward in ways your thoughts to you ho revolve agency kwiebl as possible so american

people voted for change not only want to see investigations get answers on certain thingsed of that happened over the course last two years also, want to see, the house try to elicit change. >> yeah. >> we we want to elicit change, let's be kaclear as examine one of the things loerdz is talking about as soon as we start going to pass a bill that defunding 87,000 new irs agents you know is that dead on arrival on schumerers desk, it is theatric doesn't mean anything the leverage we had given away 12 days ago by this town that is kind of stuff we want to stop, oh, by the way, all investigation that are not happening right now take a look back at all the investigations, we did do, and what their outcome was fast and furious, been ghazi, iran brothers scandal russia

collusion thing -- of never fbt we need to do better one of the asks to have an independent reconcile committee that gets to this that is not controlled by swamp, that has been resifted mightily as well -- >> thank you so much for joining us we appreciate your point of view, god bless you -- >> coming up buffalo bills say sa demar, showing signs of improvement, you are watching "mornings with maria" live on fox business. >> ♪ ♪ . if your business kept on employees through the pandemic, getrefunds.com can see if it may qualify for a payroll tax refund of up to $26,000 per employee. all it takes is eight minutes to get started.

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. jackie: welcome back,safety hamlin in critical condition after characteriac arrest monday remains on ventilator criminal condition after collision with another player on the field this joour following a slew of conc concussions, 135 players this sane lone have experienced a

concussion joining me now former nfl player army ranger jake, great to get your snooit on this it felt like time stopped. >> you are right a tragic circumstance our thoughts prayers are with hamlin, his family his teammates, the entire nfl community, current players former players fans all over united in the midst that have tragic circumstance i think silver lining take away for so many americans how united we were in prayer, just trying to lift up this fallen young man, shows that even in the culture as divisive as things are in this country sports has the unique ability still in our culture to bring

us together to see bills bengals in prayer going to lord coaches making a confident decisionings to postpone game bengals fans standing vigil outside hotel in cincinnati charity toy drive hamlin started before monday night had 3 or 4,000 dollars in it now over six million dollars from over 200,000 individual donors, americans are such a generous people, i really thought that was on display in the admitted avenue tragic circumstance monday night. john: james freeman "the wall street journal" i am glad you mentioned the good out of that incident we hope for continued recovery sound like, some progress, today, thank god, i'm oneering about players forward very soon playing games not just those teams but others wondering if you can describe what it is like as player, to go into what is a

very violent game especially after an incident like this, dealing with the fears something that is discussed in locker room other over beers after game how do people prepare for it deal with this kind of issue? >> well first and foremost everyone understands football is violent not contact sport it is a collision support as coach belichick would like to say every player knows elite level in college nfl any given sunday ormond or monday night you are taking a risk. >> they are well compensated for abilities we know any time we take field could in a trj circumstance be our last we all know that why nfl players have this you know kind of special camaraderie you see guys after agains, after every game all you want

to do is see all 22 on field on both teams get up and go to the next game we compete on the field, you know we compete on practice field weight room, professional athletics all about competition, the end of the day look out for teammates competitors can't guys healthy. >> probably one of the most extreme things we've seen doesn't mean other juries don't occur cost nfl 434 million dollars, i am wondering if financing stakes lead teams to downplay possibly minimize extent of injuries you to protect investments i think a fair question, jake. >> absolutely. and you know it has been ongoing debate about about player safety in nfl certain strides have been made you've got to look at incentive structure, i mean you've got, two different sets of services in you've got ownership wants

to play as many games as possible they want to have players in the field because a multibillion-dollar system trying to protect, on the other side players incentivized to make as much as possible and say healthy hopefully live long lives with families i think a delicate balance to be struck, you know but i think the players in particularly players association, you know has to be more assertive, are find that right balance ownership and labor coach belichick i referenced earlier one of the toughest coaches in the history of the game from bill parcels line a tough hard innovatived he would say nothing more important than health and safety of the players i think should resonate going forward. jackie: thank you so much we are you a praying for hamlin's

family as well appreciate your time today. >> coming up luxury fitness club banned new sign ups upset to kick off the year "the big buzz" of the morning, coming up next. ♪ ♪ ♪

♪ jackie: welcome back. time for the big buzz of the morning. being a real grinch about new year's resolutions, equinox gym campaign, we don't speak january. the company banning new membership sign-ups telling potential gym-goers they are not a new year's resolution, your life doesn't start at the beginning of the year. many noting the bizarre decision as many americans usually do sign up early. todd, i feel like i've got to let you in here. >> one, they're actually protecting their members from a bunch of people who are going to mess up the gym. there's also the view that that view is wildly heatist, and equinox is one of those gyms that are uber-snooty and all that stuff. jackie: james? >> i think it's strange, because it seems like they're blowing up the genius of the health club

business model. you sell a product that you then never have to deliver. they buy the membership, but they don't actually go and consume the service. i think maybe it makes sense for equinox because they're more of the high-end product, so their the customer is probably going to want to -- jackie: actually, you're paying so much for that membership. yeah. >> maybe they end up pin picking up in february -- jackie: real quick, you made a lose weight resolution this year, i did not. >> i was 206.3 when i got ready for "fox & friends" on sunday, i haven't checked lately, but i feel like i'm losing -- i'm probably down to about 170. i probably lost 30 pounds in 3 days. [laughter] i'm joking. jackie: i definitely did not believe that. okay, james freeman, todd piro, it's been an interesting three hours. thank you so much. "varney & company" is up next. i'm going to send it over to my friend stuart. take it away. stuart: good morning, jackie. good morning, everyone. all right, let's get s