a decided arc of progress. that is what treasury secretary jack lew sees when he sees the economy. i'm christine romans. a government shutdown held the economy back last year, but this year begins with the rarest of rare washington traits. compromise. still too many americans say they are struggling in the economy. in an interview treasury secretary lew is helping those at bottom of the income ladder climb out of poverty. >> i don't believe it is right for people to work for 40 hours and take home pay below the poverty line. we have to make sure if you work full-time, you are at least at the poverty line. >> if you think you can get that done this year?

>> the president has done it on an executive order. we will keep pushing at it. it is obviously not in our power to force congress to act. we can make the case for it. we can have the american people make the case for it. we're going to continue pressing because it is the right thing to do. >> the cbo report gave the ammunition against it. a job loss and poverty alleviation program on the backs of small businesses. >> if you look at the report, it would take 1 million people out of poverty. there are a lot of views on the economics of the minimum wage. i know that the studies done by a number of people, including nobel laureates has the opposite effect. we have time for that debate. >> someone who had your job, larry summers, is writing we are becoming a downton abbey economy. do we have to be? >> i think it is more of a

prediction than assessment. if you do the right things, we can create opportunity. one thing about american people generally is if they are doing well, they don't begrudge other people. we can solve that problem. >> what do you make of the twist of the income equality discuss? over the last couple of weeks, billionaires and almost billionaires and venture capitalists and real estate that we need to emulate the top 1%. >> i think you can find people who will say a broad range of things. i don't pretend we will solve what was a 30-year trend in one year or two years. we can make a lot of progress. we can make sure that we expand the access to opportunity. i do know that we have multiple issues that we have to deal with. it is important to extend unemployment benefits. people looking for work who

can't make ends meet, through no fault of their own because we went through the worst economic crisis since the great depression, they need help. the economy needs the demand. the money goes right into the economy. good economics and right thing to do. >> you have been a year on the job. on a scale of 1 to 10, how is the economy doing? >> i think the economy is doing well. we want it to do better, obviously. you look at the last year, we got a lot done. i don't want to overstate the situation. it will be challenging to do hard things. we'll see when everyone gets back after this break and can we do some more? obviously it is an election year. it is not going to be as possible with the fall and summer as it would be in other years. i think immigration reform is a bipartisan majority wants to take action. it is something where the direction of policy is clearly an interest. i know there are a lot of

statements out of washington that there are disputes within the republican party. you know, i think it has certain attributes that make me feel there will be action at some point in the not that distant future. i don't know if it is the next few months or year or two. immigration reform will help us deal with the entitlement issues because it grows the economy and grows the payroll tax base and helps to support social security and medicare financing. >> you have the g-20 in sydney with the new, i guess my expectations have been so low for washington i don't want to overstate the thaw in the relations with the two parties and getting things done in congress, but you go there against back drop of raising the debt ceiling and getting big legislative issues out of the way. what will you tell our colleagues there about the health of the american leadership there? >> i think the united states goes to the world community as a

leader both in terms of showing how you respond to an economic crisis in terms of getting the economy moving again and how do you respond to a financial crisis in terms of reforming your system and protect your citizens and consumers and institutions. i think our message to the world will continue to be the rest of the world needs to look at what it can do to promote growth and demand. we will try to do more. there has to be broader attention to increasing demand and growth. >> coming up, you just heard america's treasury secretary strongly endorse raising the minimum wage and insist the administration is making progress creating good middle class jobs. shocker. not everyone agrees. carli is the former ceo of hewlett-packard. we will get her take on it next. mayo? corn dogs? you are so outta here! aah! [ female announcer ] the complete balanced nutrition of great-tasting ensure. 24 vitamins and minerals, antioxidants, and 9 grams of protein.

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real progress made, but more work to be done. that is how treasury secretary jack lew says what needs to be done. my next guest says more needs to be done. carly fiorina helped out on some presidential campaigns. the president argued to me for raising the minimum wage. take a listen to what jack lew said. >> i don't feel it is right to work for 40 hours and take home pay below the poverty line. >> for him, it is an issue of economic justice. the congressional budget office said it would lift 1 million people out of poverty with the minimum wage raise. you have the companies like the

gap, carly,ntarily raising minimum wage for 65,000 people. should the federal government force companies to do it or should companies start doing it like the gap. >> i think first of all, the many, many companies pay above the minimum wage. as demand rises and productivity rises, wages rise. we know that. i understand the appeal of the minimum wage. i understand the ethical argument. the facts are the minimum wage increase helps people who have a job. it doesn't help people who don't have a job. it particularly doesn't help people who are low skilled and who need an entry-level job to perhaps work their way up. a lot of executives at burger king started flipping burgers. they started entry-level jobs. >> there has to be a place to go to from that job. that is the issue of social equality. we used to have the big factory

midd middle. we don't have the middle we used to. i talked about the middle class jobs. investing in training and infrastructure. he says these are not partisan issues. i hear about how our education system needs to be better. we need to make sure we are matching the right skills with the right workers. i hear both sides say that, carly, i see it working on the margins. how do we work together to get people the right skills and the right skills with the right jobs? >> i think it is an important question. it shouldn't be a partisan issue. for, we have plenty of educational choices and options and facilities in this country. we should make progress on using community colleges more aggressively to match the skills they teach with employers in the area. there is bipartisan support on that. i, for the life of me, cannot understand why progressives are against school choice and

voucher programs. indeed, if you look at families, you will see across the political spectrum, parents want their children to have choices. they don't want to be stuck in an underperforming school. for the life of me, i cannot understand why it is a partisan issue to hold to a level of accountability. >> they believe in the k through 12 system. they believe in the right that everyone should have that. that motto. they don't want to start freelancing around. those two sides are entrenched. let's talk income equality here. he admitted you will not solve the problem, the treasury secretary told me this, you will not solve this problem in one or two years. in san francisco this week, you could smell the money. facebook buying whatsapp. the company did not exist five years ago. buying for $15 billion. they don't get angry about the couple of guys becoming the

sliver of the top 1%. that is the american dream. building something from nothing and selling it for $1 billion. what is your take on the 1% against the 99%? silicon valley is the example of it. people are complaining about sky high real estate values because of the 1% silicon valley. what are you making of this? is this class warfare? >> i think most americans don't begrudge success that is hard fought and well earned. when mark zuckerberg becomes wealthy, that is the american dream. one of the reasons people can be successful in silicon valley is because they also can fail in silicon valley. there are lots of failures in silicon valley beyond facebook and whatsapp. the other thing i would say, however, income inequity has worsened under president obama. in large measure because we are

destroying jobs and not creating jobs. and because the quantitative easing is plummeted the stock market. those assets are generally held by the top 1%. what we need to be doing is creating more jobs. you talk about lack of middle class jobs. approach the keystone pipeline. stop the war on coal. it would save middle class jobs. stop crushing small businesses who create most of the middle class jobs with regulation and complex tax code. on the one hand, i understand the appeal of a minimum wage increase. i understand the appeal of extending unemployment benefits. neither of those things will create a single job. meanwhile, the policies of this administration are holding job creation back. >> nice to see you. carly fiorina.

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in silicon valley, you can almost smell the money. a drought in california, but here is what is growing. ideas and newly minted billionaires. facebook just bought whatsapp for $15 billion. that means whatsapp is more valuable than chipotle and bed bath & beyond. these are household names. they have tens of thousands of employees. what is whatsapp? it is a social network that is also an app and messaging

system. it let's users send messages but avoid texting fees. americans may have never heard of it, but hundreds of millions of people around the world have. i want to bring in lauri laurie siegall with more. facebook would pay $19 billion for whatsapp. why? >> you know, it is a numbers game. when you look at it. 450 million monthly and let me emphasis this, active users. people are using this quite a bit. we may not be using it in the united states, but around the world, many have replaced sms with this app. they are adding 1 million users every day. also, it is a defensive move. they don't want google having this kind of company. if you do the math, facebook is spending $42 per user. when facebook bought

so is this an investment they want to make. >> wow. >> it's very much mark zuckerberg says i want to connect the world but in the hands of users arounded world. >> right, he's gone from founding facebook to now buying up, acquiring some of those other ideas. tell us about the guys behind this billion-dollar deal. >> oh, it's such an interesting story. it's also an immigration story. it's a rag to riches story. win of the co-founders he integrated to mountain view when he was a teenager. his friends will tell you he barely spoke english at the time. he spent time at a welfare center because his mother was on food stamps. when he actually decided to sign the papers for the facebook deal, he went back to that same welfare center where he spent so much time with his mother who has since passed away. they said he had tears in his eyes it was very much his hearn dream. he met his co-founder at yahoo!. brian left and actually applied

for a job at facebook and they rejected him. i want to read to you a tweet in 2009. brian said, facebook turned me down. it's a great opportunity to connect with fantastic people. looking forward to life's next adventure. twitter also rejected him. he tweeted that in 2009. obviously, they're doing very well. >> i'd say so. part of that sales price involve them staying there for a few years. so nice to see you, laurie. >> there's a gold rush on in silicon valley, great ideas. money to back them. i was in san francisco last week, i'm not exaggerating when i say you can smell the money. i want to bring in mark shutter. he's an adventure capitalist deal, he tweeted this about the whatsapp deal. i love this tweet.

zuck, has guts. although i'm says guts you didn't. >> the future battle of the internet is mobile. we're going from a tectonic shift from the web to mobile. and mobile is actually one of the most important aspects is whatsapp. it's the way that people communicate. global people communicate, 450 million per month, adding 1 million per day. >> right. >> so if you want to be relevant in the future. you have to be relevant in mobile and facebook had to be there. i want to say that whatsapp founders are some of the smartest in our industry, in fact, they're putting the ceo on the board of facebook which facebook does a lot. it's something called network effect when all the mobile people are communicating with one another on one application, it's very difficult for them to leave and do other thing so what they're really buying is the lock-in. >> pull back the curtain on the

other side. when you're looking to invest? are you looking for the idea? are you looking for the person? are you worried about the fickle-changing nature of what people in mobile like? pull back from the idea and how you find the money to get to it. >> the pace of change on the internet, internet and mobile is staggering what you're investing is an extraordinarily talented team that matters above everything else. why? because if everything changes as quick as it's changing if you don't change it speed of lightning you miss out. look at mark zuckerberg. the fact it's so relevant is zuckerberg is able to make good moves. >> so cool somebody doing extreme frisbee grew up in this country as a teenager on food stamps. met a good friend. that's cool. only in america. mark sucher, thank you for joining us. nice to see you. >> thank you. coming up. no more waiting for downloads.

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♪ honestly, i want to see you be brave ♪ ♪ barbie's new gig a recall in the freezer section and sweet gifts for oscar nominees. give me 60 seconds on the clock. it's "money time." bad habits are back. household debt jumped last quarter for the first time since 2008, mostly because of new mortgages. but it also includes credit cards, auto and student loans. check your freezer. nestle recalling two varieties of hot pockets. certain boxes of philly steak and cheese flavors may contain bad meat recalled by the u.s. agricultural department. don't feel bad for oscars losers. they'll head home with plenty of swag. this year's gift bag for nominees is worth more than

$80,000. loaded with luxury items including a $16,000 hair transplant system. trips to japan, the rocky mountains and mexico. forget the swimsuit, barbie's got a new gig, entrepreneur. mattel unveiled the doll in new york. barbie wears an elegant chic pink dress. she carries a smartphone, tablet and briefcase. those gadgets will perform a lot faster in a handful of cities. google bringing what it calls fiber internet to nine new moat tremendous areas. google says it's 100 times faster than broad band. what's more annoying than a slow download? how about a parking ticket. there's an app that might let you get out of it. fixed allowed you to take a photo of your citation and any evidence that would help your case. and then the company's team of legal researchers fights the ticket for you. right now fix said only available in san francisco.

but the company hopes to expand. until then, you'll have to pay up or fight it yourself. but what if you didn't have to? we wanted to know what would you pay to be able to park anywhere? ♪ maybe $200 a month, i think, probably would be the max. >> probably a couple hundred. to park wherever i wanted, absolutely. >> parking tickets add up quickly. >> limited real estate, a lot of people fight for it. that's why i don't own a car. >> 250, i'll park on the sidewalk. how much they charge for that. >> what would i pay? >> $5. >> i'd pay $10 an hour. >> $5, that's it. they try to give tickets anywhere. >> like 50 bucks. >> like 50 bucks to park in a garage in manhattan -- >> na, i thought it was 10. >> $1,000. if i lived in new york city, i'd pay a heck of a lot more.

>> $300 -- beyond that -- >> i'd like to see them tow this truck. coming up, more of my exclusive interview with treasury second jack lew. "cnn saturday" starts right now. those are people in arizona who are ticked off about a bill that would allow some businesses not to serve gay people. but defenders say its purpose is to protect against discrimination. >> a noose around a statue, racial slurs hurled at a student. these two incidents have thrown ole miss into the national spotlight and now the fbi is involved. oh what an incredible rescue on a miami highway. an infant stops breathing. we're talking to the photographer who captured t