i'm fredricka whitfield. i'll see you in an hour. is your nest egg safe? christine roman has the answers. "your money" starts now. americans are ready to get back to work, so what's holding them back? i'm christine romans. this is "your money." where is the job's boom? we want answers and that's why carly ferina is here. from secretary of a small business to fortune's most powerful woman in business six years in a row.

today you're a chair of a chartable organization, ceo of hewlett-packard. you know what it takes to create jobs and you know what it's like to lose them. they said they would create 4 million jobs in four years. the obama campaign said they could do it. this is what you would have to do to do that. you would have to have 250,000 jobs per month over the next four months. you can see we're not there yet. you had advised john mccain to ask you to do this right now. if you were going to advise president obama how to create jobs, how to make that promise by the end of his first term, what would you tell him to do? >> it's not sacrilege because he is our president and we want the country to succeed. the country is failing more than any time in the last 40 years.

that's important because small businesses are most of the businesses right now, so when you have a small business on its back, that's a problem. >> so tell the president how to fix it. >> first we must lower our tax rates and vastly simplify the tax code. >> do you think the tax code right now favors the big companies who can have very well-paid multi-million-dollar tax accountants? >> absolutely. it works well for big labor, but it doesn't work for small business. when you have a 26-page tax code and loopholes, small businesses don't understand it, can't take advantage it and it's very competitive. >> big businesses don't pay the high tax rate but the small businesses do. >> the small businesses do, or they're filing under personal tax rates and those are going up as well, have gone up. so they're getting hit both ways. second, credit isn't flowing to

small businesses, still. and third, 70% of small businesses say government is hostile to them. if you ask them why, they say, i don't understand how to get started anymore. the regulatory thicket is choking the entrepreneurial life out of the economy. in fairness, regulations have been growing year after year after year after year after year for 25 years. we literally have a thicket of regulations now. no one ever repeals a regulation, but lots of people add to them. >> so fixing jobs is fixing the small business environment. >> yes. i think so. >> for years companies have been moving forward with same-sex spousal benefits and same-sex couple benefits. >> we did it when i was at hewlett-packard back in 2000. >> you had briefs that hundreds of companies were signing onto about the same-sex marriage situation. this week we saw the supreme court make it possible for

same-sex couples to access federal government benefits. two different reactions. this from the chick-fil-a president. sad day for our nation. our founding fathers would be ashamed of our nation to abandon wisdom of the ages. they quickly deleted that tweet. chick-fil-a, of course, no stranger to the gay marriage issue. on the other hand, you have goldman sachs, the big investment bank, they're flying the rainbow flag in response. is it appropriate for companies to be weighing in on this debate? >> well, in some ways companies have already weighed in on the debate because they have provided benefits for same-sex couples. on the other hand, i think this is an issue where clarity is helpful, so now the supreme court is giving us some clarity, but it's clearly also an incredibly emotional and personal issue for some people. my own view is the states ought to vote on this, vote on marriage, but the supreme court

has spoken in terms of benefits. so let's move on. >> a big conversation among women in corporate america and women at work is sort of this lean-in conversation. cheryl sandburg, she's not even 40 yet, she's run ning a fortun 20 company. before there was these women, there was you. you're a very big role model. they probably wouldn't be where they are if it weren't for women like carly fiorina who are blazing the trail for them. i'm wondering if you think women now are maybe going to decide they can start their families earlier, right, they can get married earlier, because it's not going to hold them back from a career, because they're seeing families play out on the corporate stage. >> i certainly hope that's the case. i hope that young women coming up say, you know what, i'm in charge of my own life and i'm going to make my own choices about how to balance these things. i think it's still true that the work life balance issue is more complicated for women than it is for men.

>> i like to call the work life imbalanced. it's never really in balance. >> exactly, and there is no silver bullet, but the thing i notice about women, say, coming up -- i have two granddaughters now, you know, and they don't feel constrained. their imaginations about what their futures can be appear to me to be much more unconstrained, and that's a wonderful thing. having said that, women continue to be the most underutilized resource in the world. they are the most subjugated people in the world. we have a long way to go. >> we covered women at work, we covered taxes. thanks for being with us. after two elections and four years in the white house, president obama still can't shake the perception he wasn't prepared for the presidency. i'll ask a man who was there whether that's true. that's next on "your money." [ male announcer ] away...

is as much about getting there... ♪ ...as it is being there. ♪ [ birds chirping ] away is where the days are packed with wonder... ♪ [ wind whistles ] ...and the evenings are filled with familiar comforts. find your away. for a dealer and the rv that's right for you, visit gorving.com.

in 2008, president obama campaigned as an outsider. his message, i'm fighting the washington establishment on behalf of america's middle class. at four years, in the heart of the political machine, he took office again. you might think the office is the ultimate insider, but lawmakers and journalists say, no, that's not the case. this man has tracked president obama since he was a state senator in illinois and he's been granted access to the white house more than any other journalist. his new book titled "the center holds." welcome. >> hi, christine. >> it's no secret, a lot of people have said this, but co unanimous -- conan o'brien even poked fun at it. >> some have accused him of being distant and aloof.

when i asked him about it, he said, oh, and walked away. >> if he's holding back so much, even the perception of it, why doesn't he try to change that? >> he is starting to do something about it. he's playing golf more with republicans and eating dinner with them once in a while, but it doesn't come naturally to him. the president's favorite movie, he says, is "the godfather" and there is a line from hyman roth that says, "this is the business we have chosen." being the president is about making other political figures stroked and like they're getting attention and pretending to be their friend. he would rather spend time with his real friends, and in the book, i do kind of try to pull back the curtain and explain what he's like with those friends. >> what is he like with those friends? >> he's joking around a lot, and there's some off-color stories in the book that i can't say on tv about the sorts of things

that he sayshen he's with his real friends, and, as you say, he can't swing in public at all these pitches, so he really appreciates it when other people go after his enemies for him. >> it makes him look aloof, though. >> it does make him look aloof, and he doesn't get out and make people feel included enough. and he understands this abstractly, but because he has kind of a disdain for a lot of the normal rituals of politics, we saw that in the first debate. he just doesn't like those debates. >> just this week, the house minority leader nancy pelosi, she stopped short of endorsing hillary clinton for president, but she said something that was interesting, encouraging hillary clinton to run for president, and she took a swipe at the president. listen to what she said. >> if hillary clinton were to run, and we think if she ran she would win, i believe that she would be the best prepared person to enter the white house

in decades. >> that would mean more prepared than the current president. >> that's -- i don't see that, really, as a swipe, because the president was so inexperienced. i mean, he was only elected to the senate in 2004 and he became president in 2008. he barely stopped by the senate for a cup of coffee. hillary clinton has been in public life for a long time. nancy pelosi actually has a good relationship with the president, as does harry reid. it's more the other democrats he just doesn't schmooze with enough. >> there was a president's correspondence dinner and nobody knew who he was. >> in 2003, he came to my table at that dinner and he said, you're one of the only people i know here. and so obviously he has gotten to know an awful lot of other people in that room, and when he

wants to turn on the charm, he can be very charming. but there's just this sense in washington that he needs to use that charm more effectively. >> in the book you say he talked he was worried during the election that if he lost, his presidency would be a footnote in history. now that he's on a new term, the new problems on the hill, will he be able to build out his legacy? you know this man. will he be able to build out his legacy? >> what's going on right now is critical on immigration reform. it's much bigger than the various controversies that have dogged him at the beginning of this year. that would be a significant part of his legacy if he gets it. the story i try to tell in "the center holds" is how did he get 70% of the latino vote? if he had gotten 50 or 60%, we wouldn't even be having this

discussion because the republicans wouldn't take part, but they sent a message to him that they would not do well as a political party if they didn't get this bill through. how did he do that? he introduced people like the a latina oprah. a lot of people don't know who she is. she did ads with michelle obama in the campaign that were very appealing in the latino community. he did an outrage from what's called the cave, which was the secret annex to the chicago headquarters of the obama campaign that i penetrated where these 20-something analytics geeks got it down to the color. everybody knows obama did a better job on the digital front. i try to explain how. >> jonathan altar is the author. take it easy.

if you have money in the market, you probably need a chiropractor after the last month. now is not the time to loosen your grip. come on, bull riders. i'll tell you why, after the break. in a clinical trial versus lipitor, crestor got more high-risk patients' bad cholesterol to a goal of under 100. getting to goal is important, especially if you have high cholesterol plus any of these risk factors because you could be at increased risk for plaque buildup in your arteries over time. and that's why when diet and exercise alone aren't enough to lower cholesterol i prescribe crestor. [ female announcer ] crestor is not right for everyone. like people with liver disease or women who are nursing, pregnant or may become pregnant. tell your doctor about other medicines you're taking. call your doctor right away if you have muscle pain or weakness, feel unusually tired, have loss of appetite, upper belly pain, dark urine or yellowing of skin or eyes. these could be signs of rare but serious side effects. is your cholesterol at goal? ask your doctor about crestor.

[ female announcer ] if you can't afford your medication, astrazeneca may be able to help. ...and we inspected his brakes for free. -free is good. -free is very good. [ male announcer ] now get 50% off brake pads and shoes at meineke.

-free is good. -free is very good. for a store near you go to benjaminmoore.com/bayarea. hey, nobody said riding a bull was easy, and this bull market has been particularly feisty, especially when a certain fed chairman threatens to take away its food. the food? the $85 billion a month in stimulus the fed has been pump

sbug the econo pumping into the economy. when fed chairman ben bernanke said they might taper that, people started selling everything in sight. nothing was spared. now we're in this strange vortex where bad news for the economy is actually good news for the stock market. the economy grew at a measly 1%. fear for stocks have been greatly exaggerated. what isn't exaggerated is volatility. the dow has had up and down volatility every day in the month of june. certainly you might need some bull riding lessons. president of an investment firm. nice touz. also author of "restoring the american dream." richard quest is the anchor of "quest means business" on cnn

international. you talk about restoring trust in your book and punishing people who buck the system. can people trust the market right now with this volatility? >> long term, you can still trust the stock market. short term, investors' questions and doubts and fears, i think, feel justified. you see something like an mf global where customers' accounts are invaded and customers' funds disappear, and there doesn't seem to be any consequences for management. you see these things like the flash crash, and you see things like the night crating thing, and i think people say, geez, i wonder if this is still for me? for the long term, i think it is, but you see the kind of volatility, of course, that we've had in the month of june, and you do feel like you really need to cinch the seat belt down a little more tightly. >> if you listen to your head, really, michael, if you listen

to your head, if you didn't get into stocks because you saw all these things blowing up around you all these years, you're poor for it. >> there's no question that emotion is the foe of the long-term investor. i said for years, if it feels bad, do it. forget everything you learned in the '70s, okay? >> let's get a banner for that, moms and dads everywhere, if it feels bad, do it. what you're telling your kids not to do. >> i could have it tattooed, maybe. but look, if you're loving stocks as we did in the dot-com or as we did in 2007, and perhaps as you're beginning to love them again now, you're probably better off at thinking about becoming a seller than a buyer. if you're hating stocks as you did in 2009 when the market dropped below 7,000 on the dow, that was the time to buy. so don't worry, certainly pay attention to how you feel, but you're better off as an investor doing the opposite. >> richard, if we could all be

robots, right, in the investment world, but we are not, and this volatility is just mind-numbing. it used to be 50 points was a big move, and now we've had 100 points one way or the other. what's driving this? >> nothing we've seen should surprise us for one simple reason. the rules of the road have changed. bear in mind we've got qe-3. until this crisis we never had qe-1. qe was unknown. so it's not surprising. everything uncertainty, unknown, new rules. even the fed admits it's experimental. tapering. these are all different concepts. so it is not surprising in this environment that when something like bernanke speaking or when you have gold moving that investors are just moving with an element of mentality and an element of uncertainty. new rules of the road, high

frequency trading. everything is faster, everything is more detailed, everything is more pronounced. it's as if the markets are in glorious techanicolor. >> let's talk about the technicolor of gold. gold has crashed. regular investors have been saying, oh, look what the fed is doing. it's manipulating everything. i'm going to buy gold. regular investors have been killed this quarter in gold. >> a dumb, stupid metal the love of which i have never understood except as a marriage band or as a piece of delightful jewelry. >> mine is platinum. >> exactly. that's my point. people say having a bit of gold in your portfolio is a counterbalance. a counterbalance, what, for the day when it all goes wrong? the dollar goes up, the gold has gone down, you would expect to see that. gold has come back with no

inflation, the gold has gone down. the gold was done two years ago, the fallout is probably done. a little gold but you can't eat it. >> michael, last word to you. >> i think market volatility is something, yes, that we've got to come to expect. you have to look through that as an investor. and you have to find a discipline and a strategy to get your money where you need it to be in 10 years or 20 years. so try and ignore the noise. remember the old rule in the fish market. ignore the yelling and screaming. pay attention to the price of fish. >> michael farr and richard quest, nice to see both of you this weekend. coming up, do you follow justin bieber or kim kardashian on twitter? just kim kardashian and bieber. why their tweets may not always be what they seem. yours are always what they seem. wyuu1 0 &xfr

biomechanics. if you're one of the millions of people who follow celebrities on twitter, you get an inside look at what the rich and famous are up to, but how

can you tell if you're reading a genuine tweet or just an expensive ad? justin bieber gives tips on where to buy mother's day flowers. miley cyrus raves about her airline carrier, and kim kardashian tweets about her lip balm. but how do her 18 million followers know if she's getting paid or if she just really loves her chapstick? >> it's really important for the audience to be able to understand when someone is endorsing a product, saying positive things about it whether they've been paid to do that or not. >> how long has it been since your mom fixed jello pudding for you? >> for decades, people have pushed their product. using a spokesperson gives better credibility. now social media has opened up a whole new world for advertisers. they can access a star's million followers with just one tweet. but it doesn't come cheap, ranging from a couple bucks to a million dollars for one little

tweet. >> we don't prescribe specific rules or words that have to be us used, but ad is very clear. >> some celebrities are using the exposure, like when hilary duff wished her father a happy father's day. >> the beauty of ad is only two characters long so it should be easy to do, even in a tweet. >> but with only 140 characters to spare, some say there is no room for an extra hash tag. >> the ftc told us if companies fail to disclose ads, they could face legal action. it's safe to say justin bieber's was an ad. kim kardashian? it's unclear whether it was paid or not. please find me on facebook

and twitter. my handle is @christineromans. . welcome to "the next list." i'm dr. san jay gupta. a ukelele player who is trying to redefine the instrument and he says he can save the world. >> you just feel better. but first a look at a scientist that is revolutionizing the way athletes train. >> 90% of the athletes could improve their performance simply by changing