tv Tonight From Washington CSPAN June 5, 2012 8:00pm-11:00pm EDT
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translates to the u.s. use the the adulation and among other places south africa for president obama. i think it is a powerful and effective force for america. >> to demint, before i pitched my colleague the editorial director, please give a round of applause. [applause] >> today that top republican on the senate energy committee warned against a knee-jerk reaction against the energy department's loan guarantee program which provided money to the now bankrupt -- bankruptcy lender solar company. her remarks are next. polls close in an hour in wisconsin in the states recall election of governor scott walker. he faces democratic challenger mayor tom barrett of milwaukee. we will have live election coverage from wisconsin including a victory and concession speeches here on c-span2.
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>> finally, on a personal note michele and i are grateful to the entire bush family for their guidance and example during our own transition. starts to my will always remember the gathering you posted for all the living former presidents before i took office. your kind words of encouragement plus, you also left me a really good tv sports package. [laughter] i use it. [laughter] >> last week portraits of former president george w. bush and first lady laura bush were unveiled at the white house. it was the first visit since leaving office. >> as fred mentioned and 1814 dahlia madison famously said this portrait of the first george w. now, michele -- [laughter]
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if anything happens, there is your man. [laughter] >> watch the entire event on line at the c-span video library. >> next, senator lisa murkowski on u.s. energy policy. the alaska republican said the government should not abandon its loan guarantee program which lent money to the now bankrupt solar company solyndra. this is an hour. >> energy and energy technology and energy policies have really shaped the modern history over the last several centuries. and in the 21st century it is unquestionable that how we manage our energy resources what sort of economy we build how efficiently we use them, and the degree of dependence or independence from foreign oil sources and other fossil fuel sources is point to be a critical determinant and flexibility international policy and the health of our economy and in the long-term health of the entire act system.
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so these are crucial and central issues. it is easy to be lulled, i think, by the fact that some of them feel like long-term issues. temptation always to say well, yes, it is important but that is a candidate down the road. somewhere in the 21st century these issues will become crucial to both our country and the entire planet. and the earlier week forged for intelligent policies to manage our energy resources use unofficially exploit domestic resources wherever possible and to shift wherever possible and economically feasible to renewable resources, the less serious the problems the next generation and generations after that will face with respect to energy policy. i think it's going to be safe to say that one of the crucial indicators of the success of the country ultimately will be whether we take on these challenges and manage energy resources effectively in our
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country. so with that, is my pleasure to welcome you all here. i'm looking forward to a great meeting. i unfortunately have to come in and out, but i am confident that this is a meeting that will help inform us and and for energy policy making. so with that, it is my honor to actually introduce former senator byron dorgan who will offer a few remarks to start us off. thank you very much. [applause] >> well, thank you very much. it's nice to see all of you here. to the provost and gw university , one of america's great universities thank you for partnering with us for this energy summit. two years ago i was chairing the senate panel that funded our energy projects public energy projects in this country. and the ranking member of that panel was senator bob bennett. two years later we worked
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together again which proves that bipartisanship is not really dead at least outside of the scent. [laughter] and today we have put together an energy form that asks the question in the keynote address is, what is ahead? what is ahead of us an energy policy. second a panel that asks about tax incentives the future for tax incentives which determines what kind of incentives to provide for certain kinds of energy production. senator bennett and i will take a couple of minutes each to frame the discussion, and then we will have senator murkowski and we will have secretary salazar and then the panel discussion. j. paul getty was once asked to define success. he said, success is simple. get to the best school you can find and do well. find a job and exceeded everyone's expectations and then strike oil. well by all accounts america has had a substantial measure of
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success recently. we have struck oil and oil and natural gas in a way that no one could have or what have predicted. we have four times the number of drilling rigs now in america than existed three years ago. we have more drilling rigs in america and are drilling -- that are drilling in the rest of the entire world. think about that. we are now producing more energy built on public lands yes public lands and also private plans and more energy than we were producing before and more energy than anyone ever would have predicted. imports of down from 60 percent of our energy use to up 45%. and i come from a part of the country that has had a significant role in that. when i describe it to you it is 100-foot scene of loose scale
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2 miles below the surface 10,000 miles down @booktv sees me 10,000 feet down. the dow down 10,000 feet to make a curve go out 10,000 feet down 2 miles about 2 miles searching for the middle third of the 100-foot seen. then hydraulic fracture and force grains of sand up into the loose shale the oil drops and then there drilling 2,400 wells per year in western north dakota . so everything has changed and no one would have predicted it. no one in this room would have ever predicted that. it is the impact of the highly improbable. what will our future be? and guarantee our future will not near our pastor present. had we make sure we have energy security and national security? increase production is a bounty for our country also the case that what has contributed to
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this better energy security is greater fuel efficiency standards imposed, everyone understands that it has had a very significant impact. the renewable fuel standard. i was the author of the original renewable fuel standard with two of my colleagues. also had a profound impact. now 10 percent of our gasoline use comes from biofuels and good for us. also a slower economy which is not good, but has had a significant impact on the issue of supply and demand of energy in the short term. but no matter what we produce or how much we produce with respect to oil and natural gas particularly oil in this country, the price of oil is still an international price. therefore, for energy security, international security, we need, in my judgment, plan and a plan that yes emphasizes production yes fossil fuel as well but also production of renewable energy. and is the case that one could
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say, well, we are doing so well defining success that we can just sort of rest on our laurels and keep done what we have been doing in that will be just fine, except 90 percent of oil products are used in transportation in the united states. the folks living in india and china very much want to drive cars. i just came from china. they're very much want to drive cars. so projects just a few short years ahead five, ten 20 years. project probably three to 400 million additional automobiles driving on this planet looking for a gas station once a week. and then ask yourself whether we need an energy security plan that represents national security that uses all and diverse sets of energy that are available to us wind, solar by a thermal. the areas of biofuels all of those areas are areas that we ought to produce.
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and they would come, in my judgment as a result of very substantial research, which bob and i paid a lot of attention to. i believe our future is in energy research. and let me just ask you the question, do you think perhaps our future might mean that we will find a way to extract liquid fuels from thin air? oh you think that's crazy? we're working on it in research. how about the development of a low cost 500-mile battery for a vehicle. it's being worked on. how about using solar power at night? does that sound crazy? we also had the opportunity to fund all of our national laboratories. those national laboratories the crown jewels. the research going on. i'm a big fan of the research. in that think that's going to have a lot to do with the kind of future we have. so this is a perfect time and really a perfect time for our country to think through what
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next and i have often said there is an old cherokee indian chief who once said the success of a rain dance depends a lot on timing. well that's true and a lot of things. this is a perfect time for this country to think and develop strategy for the future of its energy policy. let me introduce my colleague someone with whom i have worked a long long while. great affection former senator bob bennett. [applause] >> i am delighted to be with you. i am delighted to join by rene. we both left the senate together. he did it. i did happily.
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we found it wasn't -- we didn't -- we didn't go together. but fox recruited us. there were looking for somebody on the side of the aisle. be recreated the kind of relationship that byron has discussed while we were respectively chairman and ranking member of that subcommittee. the interesting thing that has become clear to me since we left is that the action is not necessarily in the congress. the action driving for done many of these policy issues lies outside of the congress right now as they continue to try to sort out exactly when they're going to answer the next form of and to deal with the political gridlock that has taken over. so i've always had an interest in energy, and i'm delighted to be at the law firm where energy has a very high-profile. now, let me share with you this
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perspective about where we are right now with respect to energy we are at at time of enormous flocks and enormous change. give you a few indications of that. as in the senate over the years we talked about energy. we were in a situation where energy prices, particularly in specifically the price of oil was always said outside the united states. that is not distort the truth. there was a time when the texas railroad commission to determine the price of oil because the main source of oil came out of texas and oklahoma, and it was priced by -- the texas left it with the railroad commission. i don't know why. they could determine why it -- by the kind of allocation that they made how much oil would be produced and what the price would be.
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that shifted away from the united states and into saudi arabian hands in the 1970's partly because we were running out in texas and the opec states decided to try their hand at creating a cartel and the center of gravity of pricing power and therefore production power particularly with respect to oil shifted away from the united states and we were left somewhat at the mercy of someone else's decision. now byron has already described what has happened in the united states in production. for the first time we are exporting energy. the first time a long time. we are exporting energy. we have enough to not only take care of ourselves. yes to we are importing 45 percent of our needs but we have energy being created so that -- in a market fashion
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there can be exports. the technology has made enormous changes. yes, the discovery in the balkan is very important but the ability to get natural gas out of shell has changed the equation tremendously. the remember just as recently as the stimulus package when byron and i put and loan guarantees for nuclear into the stimulus package. and ticket out on the house side. but it was in the bill on the senate side as we were trying to promote nuclear. fukushima changed the entire debate with respect to nuclear and its role. people are looking back at nuclear and what we do and safety in all of those kinds of issues. we are in at time of enormous turmoil and change. and the technological improvements keep coming through the door.
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we see clients come up that have got new technology that they need pent-up or they need guidance in making their contracts with their suppliers or contracts with foreign governments. we are seeing a tremendous change in the private sector and help people deal with energy. i was in your attending the brussels foreign that is put on by the german marshall fund every year. i am on the board of that fund. i get to the forum. and one of the issues that has always been discussed as energy. all right. i won't bore you with all of the things that were set at the energy form but this interesting comment by the bombing who was facilitating it. after the panel had made their presentation and we were in the
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question and answer and it was going on. she stopped just long enough to make this observation. she said all right. last year when we were here talking about energy everything was russia russia, russia. this year, listen to yourselves. everything is china china china. all right. it's just another indication that the entire world situation is changing, not just the american role. so that is why we are delighted that byron and i have been able to talk to our to former colleagues lisa murkowski and can salazar and get them to come give us guidance as to what they see the future might be. now, don't be so presumptuous as task lisa who is going to win the election.
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because if the republicans win the election lisa will be the chairman of the senate energy and national resources committee. if they don't she will remain as the ranking member. and, of course, don't ask can salazar who is going to win the election. this job too depends. the outcome of that. both of them as they look ahead have a sense of where things are going. and from personal experience dealing with them while we were colleagues in the senate both byron and i know that these are two very thoughtful people. and l.a. are not ideologues in the sense that they have blinders on we have to do it this way. both of them are open to a sense of well, maybe it could happen this way. let's look at new opportunities and knew ways to go. so our program is to have senator murkowski here for about
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20 minutes of the 30 and she is allowed and then open it up to question and answer. then she will be followed -- slip of the time. secretary salazar, i hate to demote him, making secretary of energy rather than senator from colorado. but secretary salazar, the same kind of thing he will have some opening comments and then we will do our best to go to the question and answer. i have cut might to see if senator murkowski has arrived get. i don't see. being a senator, i can go on for as long as you need. [laughter] that is not a problem all. the one thing that undergirds all of this is, of course, the recognition that byron talked about the of the importance of energy.
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if you look at the economy in an overall circumstance you see that access to cheap energy has been a driving force in building the economy ever since we entered the industrial age. and one of the challenges we have had politically and economically has been the uncertainty of that access. the oil embargo that came in the 1970's during the nixon administration. it was not just the price that went up dramatically with the oil embargo from the arab countries. it was the uncertainty that went up. and with that uncertainty you began to get changes in the marketplace that came as a result of the fact that there are many industries that absolutely have to have energy. this is not given to what the
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economists call a last demand. if you're running an airline you have to have jet fuel. you can't say well, we will cut back a little on jet fuel. you have to have it. and for many people and the way america is structured you have to have enough gasoline to put in your car to get to work. we do not get to and from in any other way for most of america except to buy -- by automobile. i was in the nixon administration and the department of transportation. everybody was talking about airlines killing rail transportation. i remember, writing and the train. that was the way you got from one city to the other passenger rail. we watched passenger rail disappear and indeed, during the time i was there amtrak was
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created by shrinking all of the rail passenger service of every river in the country. it was not the airlines. the thing that destroyed real passenger service was the interstate highway system. and even today cover 95 percent of inner-city trips in the united states are by car not by air. all right. you can argue that that was a good thing or bad thing but it transformed america in a very fundamental way. our former colleague pat moynihan once said everybody said eisenhower was a passive president were as kennedy and johnson were active presence. eisenhower just kind of sat there, but kennedy and johnson were out there moving. he said, eisenhower changed the country more than anything kennedy and johnson did put together when he build the
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interstate highway system. it transformed the way americans lived. it transforms the way americans traded. it transformed whole industries. it created a boom cities. if you were on the interstate you had an entirely different situation than if you were off. eisenhower transformed it. that was the 1950's. by the 1970's when the arab oil embargo had us it did not just cause some energy price changes. it hit at the core of the way america was structured and the way america performed. the fact that we are now beginning to get back on top of our energy supplies and getting in a position where we can indeed, determine our own future is an enormous danger in this
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time 40, 50 years later. and we are seeing all of this come. are we going to have an increased percentage of biofuels? i always voted against ethanol which proved that i never intended to run for president. i could safely go without worrying about it. i never thought there was all that good of an idea. the whole question of can we put things into the gas tanks of our automobiles, that does not come from oil still a very legitimate question and one that we ought to be pursuing. all of the legal and economic issues connected with that are something that we hope we will go away from this forum with a slightly better understanding of so we appreciate your coming. we appreciate you being here, and we look forward to your questions.
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as lisa showed up yet are dry continue to filibuster? >> i don't know how much of a keynote speech you have left. [laughter] >> most of us in politics and go for at least half an hour. >> i can cut. >> no, no, no. i was thinking if i might just tell you a short story while we are waiting for lisa. okay. well then, you get to introduce lisa. >> ladies and gentlemen, all right. this will be very short. ladies and gentleman one of our very best friends lisa murkowski, the ranking member of the senate energy committee who knows all and we now expect will tell us all. [laughter]
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>> knows all and therefore is going to tell all. what expectation. i am delighted to be back with my colleague. i ms. you both. i miss you both. senator bennett and senator dorgan, you served on the energy committee. senator dorgan led some good policy when he was chairman of the indian affairs committee so we have some great relationships. i miss you, but i'm glad to know that you are carrying on in a good manner here with this form. so i appreciated. i have been invited this morning to give a general outlook on energy policy. i think what is certain is that a lot of members from both parties have been thinking through legislative responses to our various energy challenges. and for all the progress that we may have made those challenges i think remained pretty considerable.
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for -- when we think about what we face as a nation and the energy issues that present themselves i think it comes down to some very key things. it's not rocket science. what were looking to do is keep energy affordable insure the safety of its production maintained the balance in a federal regulation that is affecting its use. equally true is that for all the talk about energy policy, there really hasn't been much action of late especially when it comes to legislation with in the senate. i think one of the more common refrain is that you will hear today in discussions of energy policy is that the united states really doesn't have a policy at the federal level at least not something that can be described
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as long-term or coherent. now, recognizing that i have been working with the energy committee, my staff there to look at ways to renew. we described as we amazing federal energy policy. by each administration as well as the energy legislation that is bastides congress since the 1970's. we looked at the resources that the notice states had and how long does it last as. we looked at the federal policies to identify gaps and negative trends. really get out energy affects our economy and of course the critical importance to our growth and prosperity. today i am more convinced than ever that many improvements can and should be made.
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we i also convince the energy policy should not and cannot be in a partisan issue. it has to be an area of agreement between parties and across the ministrations. now, as for energy itself, i think the goals again pre straightforward caprice simple, they have to be abundant, affordable clean the verse and as secure as possible. so just going through these pretty simple criteria i tried to come up with an acronym, but i just don't have one. abundant energy will allow us really to meet our growing demand and increasing standards of living both here and around the world. affordable energy at think we would all recognize is a must for our families and their businesses and our nation's broader ability to attract investment manufacturing, and industries of the future. no i would probably define clean energy kilobit differently
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to tell you exactly which resources, which technologies or really even which exact policies will enable us to meet these energy goals. some of that will be laid out in the energy plan that i intend to release later on this summer. but for now, i'll simply suggest that it is appropriate for the federal government to focus on one type ologies to the exclusion of others. markets and consumers will make the choice far better than anyone else. what i think policymakers need to do is focus on the outcomes. we should be open to a number of routes that could help us get there. but let's focus on the outcomes. now, in terms of signing legislative successes, i think we have got them pretty specific characteristics that we should be keeping in mind. first, the committee process that is out there is therefore a
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reason. the last two major energy bills to be signed into law in 07 and in 05 were drafted largely by our congressional committees. now, he can be somewhat dainty form a gang to work on energy legislation. we seen that before, but we've also seen that typically these efforts fall short. committees have the ideas the expertise. they simply can produce a better product. and if markets are held regularly as we are supposed to be doing, i think you can actually have a legislative measures make it to the floor. secondly, our legislative efforts have to be balanced. it is difficult to see legislation that is purely focus on a single tape elegy subsidy or priority trine enough support to last. i think we've got to envision how we're going to move this
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through the process. and to find success, will need to pare legislation that for instance, increases oil and gas legislation on federal land was focused on legislation. if we can agree to do that, i think you have the makings of a package that most members will be comfortable with. but she's got to find that balance fair. and make some hard decisions about the extent of the federal government rule. the past several years i think we have seen some pretty remarkable advances in new technologies like horizontal drilling, hydraulic fracturing. it is new that industry did most of the work and it didn't detect ologies and it is also true to the government played a role in the early stages of development when there is less reason for the dirt to be interested. i think these examples should be applied today. the federal government can help
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fund research that would otherwise not be undertaken. but our job is not to offer subsidies that never end or subsidies to prop up a tape knowledge it every step of the way to commercialization. i think a good example to look to make the methane hydrate. conoco philips india we have partnered to test a prospect on alaska's new slope. if an pretty successful. but this will never involve the government mandating the state by energy from methane hydrate. i would never involve federal payments to companies to produce or deliver them. now, related to this is my fourth point the energy policy you simply have to pay for themselves. the tens of billions of dollars that would contain in the 2009 stimulants for clean energy projects have probably had much less impact than projected.
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many taxpayers we see it now and read in the newspapers are really unhappy with the results of that spending. our nation is serving a $15 trillion in debt. we simply don't have the luxury to spend freely. i think we recognize that. instead will be to be doing is being creative by addressing supply and demand at the same time. i've got the train for a legislation is introduced for the past several years. reduced revenues from greater domestic oil production to help offset spending on energy r&d. i think something like that at an approach like that helps. fifth, we need to avoid legislation that directly or indirectly increases the price of energy. high gasoline prices have stretched our families and businesses to bring. i certainly see that in alaska.
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some communities in my state are paying upwards of $7 a gallon. some communities $10 a gallon, almost unimaginable. electricity prices see a rise in not adding to the opinion that her family's experience. but given how important energy as to the overall economy can be given how it helps determine the price of nearly all other goods and services, our attention should be devoted to those policies that will help to lower your cost of energy not raise it even further. and finally the state of energy legislation will ultimately depend on whether or not it is actually brought up for consideration on the senate floor. you might say well that is obvious. that is a given. but for nearly four years running now, we have not had a debate on comprehensive energy legislation on the senate floor.
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last congress the energy committee reported that doesn't bills, including a comprehensive package that that on the calendar for a month. this congress is shaping up to look pretty much the same unfortunately. we have reported dozens of those in a bipartisan basis paperwork that clicks are not seen in the through. they are languishing on floor. so we finance the house passes bill after bill addressing both traditional and renewable energy, the best that the senate has been able to really pull together at this point in time has been a brief debate on energy related amendments called up over the highway bill. about as close as we've gotten is here. if we want success on energy policy, senate is going to have to do better than we have been. see, obvious again but we have to set aside some time to debate
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legislation. so the big question of courses whether or not it is even possible that this can happen this year. i would like to think that the senate could find the time over the next six months to debate energy, but given the past 18 months that we have seen it is probably not likely. i am generally the optimist in that room, but i'm also the pragmatists. we are looking up whether or not there might be some possibilities within the lame duck but i am in the category that looks at that and says i don't think that is where we are going to see much of anything happening with legislation there. so much of our attention has already shifted to the fiscal close that we are moving towards. we've got decisions that $7 trillion before taxes and spending that need to be made before the end of the year.
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there may be time for an energy related amendment here or there, but i think the bulk of our time is probably going to be taken up with other issues, other concerns. so the six steps i've outlined her this morning i don't take should be difficult for either party to accept or to accomplish. they largely fall in line with what americans arrest ineptness. they don't dramatically restrict the legislative options that are open to us. one good sign is that more and more of us are talking about and all of the above policy. we started using this terminology on the republican side years ago. the president is using it. the administration uses the. it is good, but we need to do more than just talk about it. we need to step up and showed us a serious goal an achievable goal. regurgitate carvers are treated
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at them into meaningful policies. so what the senate largely inactive on energy legislation from within three years running, i have had a lot of time to think about what makes good policy is any think it is a good sign that so many of you are thinking about this as well. we've got some serious challenges to overcome and it gets going to take all of us. again, beyond party boundaries beyond regional boundaries, it's going to take all of us working together to force them to then says to ensure that our future energy supply can eat the diverse demands of a prosperous nation in a growing world. but that i thank you for your attention this morning. happy to take questions if it's appropriate. i know i have followed by mike at 10 secretary salazar. so i am curious to know what he is going to be able to share with us. >> lets see here who wants to ask questions.
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we have some roving microphone. let's get one here. and who might ask a question on this site. all. that woman back there. and you ask your question while she is getting a her microphone. >> thank you very much. and margaret ryan with a little energy. i just wonder, senator. he talked about the lack of action on the floor and the many bills that come out of the energy committee. why don't take action? >> gosh. why don't they get action? i think part of it is competition with other issues. i think part of it is a failure to make it a priority. energy issues have not been made
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a priority that the majority leader. and he is one that sets a schedule. he has climate make the determination as to what we are going to be bringing up next. and it hasn't been high on his priority list, which is unfortunate. we have got it though. the measure that senator shaheen and portman have been working for a couple years now passed through the committee in a bipartisan basis. it's pretty smart, but when we are talking that had really can make with deficiencies in conservation, this is a good bill. and we are not able to get the attention and even for some thing like that. so it is an issue of competing priority and not putting it is high up on the list as many of us would like.
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>> you have the microphone. let's find someone over here to pick up the microphone. okay, you get the microphone while you're asking the question. >> i appreciate what you said about looking up all of the above in again about different options. one actually listen to what you're saying, is still focused on domestic oil production, franking annealing so much negative renewable energy was saying he didn't feel a stimulus that affect events they hope. so i guess i am just wondering how you would balance the idea of all of the above in but were you see renewable energy kind of fitting into that whole equation >> nmma comments were very truncated in very brief i threw in just a couple of examples that i chose to use for what you pick up on. but i am a huge advocate for renewable energy of all kinds
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advancing through a process that i don't think is very evenhanded right now. and that espy when talking about allen's and those determinations that we as the federal government make, i do not want to say the direction we had to be taking his electorate plug-in vehicles as opposed to vehicles that are run on natural gas. i don't agree should make that determination. what i am suggesting though is that everything be advanced in a way that allows for the market and consumers to determine where we are going. renewable energy is the energy of the future. but in saying that, we've got to appreciate that we're not just going to go to flip the switch and power everything in this room offers solar or wind or
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whatever are renewable energy source is. it is an expensive transition. it is a timely transition. so how do we get there when we are sitting here with the debt we have. one of the things i have proposed is that we take advance of the revenues we derive from our fossil fuels, whether it is energy up north or energy in the appellations. let's take some of what we are taking from the ground to help advance the r&d for renewable silly can move in that direction in a meaningful way. because right now it is dribs and drabs and a little bit of a tax credit here for a couple years, but in turn says funding certainty, there isn't any. i'm trying to help build it out and i think one way we can help others out is using our traditional fuels, revenues from them to help us out to
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renewables. >> you have the next one. okay just that the microphone a peer. >> senator, thank you for your time. i have a quick question related to the clean energy standard based on the comments he made today. >> as you know senator bingaman is introduced as legislation on the clean energy standard. i think he will be the first one to admit he clearly did in the committee that the clean energy legislation he's introduced as not going to be moving this congress. i think what he wanted to do is put it on the table for discussion to move that issue forward. he had my last year after the president had talked about clean energy standard we issued a
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request for a comment and stakeholders tell us what the clean energy standard with a click. and this was an effort that i was very willing to gauge what because i thought it was important or try to understand. is this an area where we can find something at this? we got some pretty incredible feat that. there's a great deal of work that went into it. but we didn't get back was real consensus about what it would look like, how it would work. and so, when i realized that even within industry and even within the fact there's within the industry that there was not a level of consensus. i kind of pulled back. senator bingaman went ahead and introduces legislation. i have concerns with primarily the fact that the bingaman
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legislation doesn't allow for preemption of other standards that might be a dare. i am concerned that what we have a tendency to do around here in washington as an is a regulation. another one comes on and you've got an overlap that makes it not only complicated, but often times and possible ticket to your goal. so if were going to fancy concepts like a clean energy standard, i would like to make sure that we know what that definition is but it's not further complicated by other standards that have been put in place. a pack of preemption in my. >> okay. you're the microphone. in the back there the young lady. let's go to her after this one. >> thank you for the very interesting overview senator.
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work in the area conservation, green building stability. of course my question will follow, which is what are your doubts about addressing demand issues and also energy conservation and efficiency? to what extent will this play will the policy discussions? >> this goes to my point earlier about the shaheen portman legislation, which i think is just good stuff that helps move us towards greater conservation greater efficiencies. then we are not able to move back through the process. we need to go to those areas where the low-hanging fruit excess and i think we should all recognize that the greatest savings when it comes to energy not the technology that will
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load of some futuristic thing. it is saving the energy we currently have. we are pretty wasteful society when it comes to us as energy consumers. i don't think we have come near enough. so when i speak as in all of the above policy, in my mind it's a bit of a three-legged stool. you've got it creates domestic reduction from the more traditional sources. you clearly have the light that is the future, which is your renewable energy sources. but the third leg has to be conservation and efficiency. we can do so much more. and i would like to get some of this piece is missing because they think they should be the easier pieces. unfortunately, that hasn't worked out yet. >> that was your question. all right. you've got to my credit.
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who should we take the mic to overhear? okay, read up here. spin archive senator brian treece e. with dow jones newswires. i think to ask your vet appointment deployment for renewable energy could you energy preconvention stimulants and of a fleet disappointment with loan guarantee program that was supposed to support deployment in your plan for balance. he talked about r&d, but she didn't mention the second thing. i just wonder where do you see the federal government's role in aiding some of these nascent technologies. >> welcome i do believe there is a real and perhaps that sets me apart from some of my other colleagues on capitol hill. i do believe there is a role and i think what we need to determine is how we play him this. when you think about some of the
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tax credits that are in play right now for some of our renewables, we've put them in place and they stand place. and then when we talk about perhaps removing them or they are going to expire, there's a hue a crowded. you can't pull the rug out from underneath us. there has to be kind of a quiet cut out. and i think that is important to determine. what i do believe that what there is loan to use and unfortunately what we have seen this past year with some of the failures within the loan guarantee program, it's tainted, i think that whole program to the point where some are suggesting the plug just needs
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to be pulled. i think that's the case. think we need to make sure that the loan guarantee program operates as congress had intended as his intended victim to depart in to allow for these nascent technologies to move forward, to actually get to the point where it's more than just cropping up an idea but that didn't industry can take it and run with it. so the timing on it there's no clear bright line, the rate now we are not being as helpful as the government should be in not providing some greater parameters to make sba extends of the guarantees and subsidies out there. we need to do a better job in
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definition here. >> already. we go here and microphone there. >> deborah jacobson. a teach in a july i gws: a follow-up question. i think you're talking about the valley of death where you have the r&d dan and rabbi to commercialization a lot of technology and other risk. your colleague, senator bingaman has proposed an energy deployment administration. i don't know which are positioned as an terms of working on the. >> that is an initiative that senator bingaman and i have been working on. i'm a cosponsor with him. i think it makes sense. let's figure out how we can help to facilitate the r&d make sure that it is the r&d and make
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sure they are together. i think sita is one way that we have looks forward to my offering some possibilities. granted that as a legislative initiative would take up some time ago, kind of pre-cylinder if you will. i wish i could tell you that it had some lamented behind it. we are not seeing every now. i still think it's a good idea. [inaudible] [inaudible]
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i really like the comments you made about phrack and whether governments appointed -- [inaudible] >> i think we need to critically evaluate what it is that we have in front of us whether it's offshore wind, which you are making a distinction between onshore and what we see on land. geothermal is a situation that is not too dissimilar. we are told that while the terminal type elegy is a mature technology and so because it is a chore, we're not going going to make available that the incentives are the tax credits out there.
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and what we have found in alaska where we have enormous geothermal potential is that the way you may have approached it in another state is not exactly what we are trying to prove that to access in alaska. we are using different technologies, but because it is geothermal geothermal is geothermal and wind is when. so we have a one-size-fits-all mentality to it. if it is something brand-new like algae that you. that somehow or it the other should fall into a different category. i think we need to be critical as we assess where it is in the process of development. >> out like to get your thoughts on what the role of the federal government should be as opposed to -- >> i couldn't see who is
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talking. >> out to pitcher thoughts on the role of the federal government is supposed to state regulatory agencies regulating energy environments specifically to hydraulic fracturing and perhaps other areas then imagine are specific to alaska and who is a more appropriate body. >> well, i have taken a position that with, for instance, hydraulic fracturing that has been going on in our state for decades, you know come out in texas they they've have been engaged in hydraulic fracturing for 40 years. and i am insane. state regulators have been a pretty good job. and it worked well with the industry and ensuring safeguards are not enough of a disclosure is afforded. my concern is that again, we have an overlap where we are
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talking about different regulations. state regulators have been doing a good job, is it necessary for us to come in the blm the epa and impose different layers of regulation on top of what the state is already doing a perp be doing quiet so as you are aware, the proposal came out some weeks ago now to review the franking on federal lands. different than on state lands. we understand that, but again if what we are doing is imposing regulations that are further complicating the process because it's either duplicative or a
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level of redundancy that just doesn't make sense, are we really helping here? i think that is so we need to be looking to paradise said that states are doing a pretty good job and have been doing so for a long period of time. you do have certain areas in a country where phrack in his new. and so, the question is what kind of disclosure is going on in those states. what are the regulation scrapes but again, i am when he says piously that what the state. >> lisa, thank you. >> i have been booted off the state run a frightening colleague, ken salazar. >> no, you succeeded. thank you so much. [applause]
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>> a handful of states are holding congressional elections today, including california and new jersey. as the polls in wisconsin are closing out come the results on the recall election between republican governor scott walker and the lucky democrat, mayor tom barrett will start to come in. "the associated press" reports that turnout in wisconsin is on pace for 65% of eligible voters to cast ballots. the soul of the third such recall election in history. in about a half-hour we'll have live coverage of results from wisconsin and candidate speeches. until then economist mark sandy talks about why federal action is needed in the economy now. >> mark sandy is chief economist at moody's great thank you for joining us in west chester pennsylvania. >> guest: thank you for joining me. o-oscar there is an action after
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the weak jobs report came out last week. but the main purpose of monetary policy. how does that relate to job growth? >> guest: welcome the federal reserve plays a very key role in terms of the broader economy and job creation. it lowers interest rates in times of difficulty like the current. to make it easier for people to borrow money, businesses to go out and invest and takes pressure off people who borrowed lots of money already brings down debt and makes it easier to spend, which is obviously key to businesses hiring people. lots of different ways to set influences the economy broadly. so they are very important to the job market. >> host: what did you bathe that came out last week in the economic mood in general great now domestically why are we at the point where we talk about the feds roll classics just go well, the job market as weekend considerably since the beginning
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of the year. that was the message of the jobs report last friday. just to give you a few numbers if you go back to december january, february the economy could roughly two and 50,000 jobs per month. unless the mass of the march come april, may be critical as 200,000 jobs. still job creation job growth moving forward at a much slower rate. some of the slowdown is technical issues related to weather. the winter was very worn and the that job growth has some payback. it is clear the job market has slowed at the broader economy has slowed. lots of reasons for that but the most significant one at this point is what is going on in europe and the problems they are now having an impact on businesses hiring decisions not as though we see in the data. so with the economy slowing as dramatically as it has an obviously given high unemployment rate is 8.2%.
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that is just too high. the federal reserve is one actor that could potentially make a difference in and that is why we are talking about additional fed action for monetary easing to get the economy moving toward at a faster rate. >> host: unemployment rate 8.2% in may. jobs created in april are the unemployment insurance and initial claims over 380000. the gdp 1.9% for january to march. so mark zandi commode is the biggest factor with a look at economy? is sitting in possible to say what is coming from outside is happening to? the federal reserve looks at what the big weather center, what are the most lucky not? >> guest: well at the topline model come at things they care about the most is inflation.
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but as the rate of inflation, and the things they have the most control over any unemployment rate. the good proxy for your for the benchmark for the job market. they are focused on those two things. they want to make sure that inflation is about 2%. they want that to be a rocksolid 2%. not higher not lower. with regard to unemployment or not as explicit, but they probably want an unemployment rate closer to 5.5%. as you said we are 8.2, so it's a long way away. that is at the topline. it is kind of their benchmark. with a look at in trying to determine what is going to affect inflation and unemployment there's lots of things going on. as i mentioned a second ago, the thing playing the biggest role at the moment, doing the most images but is in fact happening in europe that is reverberating across the globe and hurting emerging economies like china
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and all that is coming back on us and that is the thing that is god government officials most worried and rightly so. >> host: recent story from the hill. new federal reserve stimulus measures added 16 and us and jobs in may, just under half expect it to unemployment report on friday suggests an already tenuous economic recovery might have lost steam. but the fed changed its maximizing unemployment and controlling inflation, those bleak numbers of analysts and lawmakers wondering if the central bank will act to jolt the economy. if you would like to talk with mark zandi, here's the number to call. republicans 202-737-0002. democrats don't want. and 202-628-0205. in newport, rhode island. >> caller: good morning, everybody. during the connor administration and there was
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22 million manufacturing jobs in this country. this has been reduced to half that number. 12 million manufacturing jobs have disappeared. now, they are not going to come back and all the schemes like solar energy and entered a dismal failure. now i have a suggestion that's contrary to everybody's thinking. i suggest that social security is a $2.5 trillion trust fund. why don't we reduce the retirement age to 60 paying people full benefits? i'm sure a couple million people will be retiring and there's millions of young people out there ready to take their jobs. what do you think of that suggestion? >> guest: well, that is unorthodox. most people were thinking along the exact opposite land in terms of raising the retirement age. i mean the social security trust fund is running into increasing difficulty as the
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population ages. here is a very important statistic for you. the largest single year age group, more of these folks than any other age is 53 years old. that is petite that the baby boom generation. of course baby boomers are starting to retire as a really large group of people and they are starting to take on social security and putting a lot of pressure on that. i am not sure that is the direction i would go. i understand your death and i think you are focused on the right things, but i don't think lowering the retirement age would help social security or the broader economy. the other thing to consider obviously is that people are in general living longer and healthier longer. it doesn't apply to every demographic group, but for many it doesn't make a grenade to
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consider that, to when making policy. >> host: mike on her independent line talking with mark sandy. good morning. >> guest: good morning. i have a comment and i would like you to respond to my comment. now, i started out in banking in the mid-80s and i think the marginal tax rate at that time for upper income people was either 50% or 70%. i don't know exactly when they can reduce state, but i was in the top 2% of wage earners at that time. i was making over $50,000 here at that time because the bank managers were so frightened in the owners of paying taxes they gave the money out bonuses and pay increases and that is why we have a vibrant economy. you have all the money concentrated in the hands of the few and they don't borrow except maybe on a revolving line of credit for businesses.
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but other than that, they don't need money. they came over and just rates to zero. have them up all the worthless bonds in the country and they just don't think it's going to go anywhere. we need to raise the tax says until the business but if you put your money in jobs, devil kutcher rate. if you don't, you can pay 70% and will use the money and jobs programs. >> guest: good comment. i appreciate them. there is some research coming out but does suggest higher tax rates on very high income households. won't do a lot of economic damage. it is fair to say that all else being equal with agencies over tax rates for everybody. in fact i think we can do that if we focus on the so-called tax expenditures in the tax code.
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is that the tax credits and deductions and other loopholes that reduce revenue that would make the code above are complex and a lot of benefits go to higher income households. if we could reduce tax expenditures we could generate more revenue. much of the burden would fall on higher income households. we can reduce tax rates for everybody, we should be in the best interest of the broader economy. so, i hear what you are saying and there is evidence to suggest that what you are saying is true. the higher tax rates on very high income households may not do a lot of economic damage in both demonstrate high revenue. the better way to go with b. to scale back deductions and credits in the tax code. the herbert b. mostly on higher income households because they are the ones that benefit the herbert b. mostly on higher income households because they are the ones that benefit a lower tax rates for everybody particularly lower and middle-income the ones that benefit a lower tax rates for everybody, particularly lower and middle-income households.
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that would probably be a better way to go. >> host: mark zandi is chief economist and founder of duties .com. he's joining us to talk about that action, but it can do and why does weak jobs report on friday. he was a story from bloomberg business week. the fed says your crisis boosted borrowing costs in the u.s. the veteran serves as the crisis pushed up costs for u.s. corporations selling that would hire companies and lower rated nonfinancial businesses hardest hit by the recent turmoil. while the european debt turmoil pushed yields on safer u.s. government bonds to a record low last week, the crisis has increased borrowing costs for u.s. businesses, threatening to an e. at the year-long economic recovery. our guest, mark zandi talked about what is happening in the u.s. economy. mr. zandi, when you hear stories like this interpret for us as to what this means is that can do about it.
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>> guest: of course, businesses need to borrow money to finance operations to invest, to hire people to grow and expand. i'm large companies issue bonds ious to investors and take their money at magistrate. well, in in times of turmoil when investors are very nervous, particularly about getting money back, they will require from the i/o you are bound to higher interest rates at the cost of borrowing rises. of course, as the article pointed out, this is happening at the same time to interest rates for safe bonds like the u.s. treasury bond are following because people don't want to own a corporate bond that is more risky. they want to own a safe unlike the u.s. treasury. but the factions driving down treasuries to decimate wiring costs for businesses or even household are going to come
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down. but that is one reason why the federal reserve from some of the factions in the last couple three years may in fact go down this path again in the next few weeks couple months is to buy battle by treasury bonds, but mortgage security so that would go directly to try and bring down mortgage rates. it's hard to directly affect the rates businesses borrow at because they're not going to buy unless things really got back to santa monica by corporate bonds. but by bringing down interest rates broadly, the home business also takes the pressure off of corporate rates. it's a pretty complex question. hopefully that provided some insight. >> host: the fed holds its next policy meeting on june 18 and 20. gopal discussions be like? what options does it have? you have been taking us through some of what could have been. you have an expectation of what might come out of that give us a
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sense of the tone and tenor of the discussions. >> guest: i am sure they will be nervous. the economy has slowed the rate of growth come down quite a bit and of course unemployment is still very high. inflationary pressures are impeding. the rate of inflation underlayment below the target of 2% that i mentioned earlier. and of course they are really focused on the turmoil in financial markets and when his going on in your. you kind of added all up to suggest that there probably can keep easing monetary policy somewhere. so of course the problem is the interest rate they directly control is that euro so they cannot lower than any further. so they have to start thinking about doing other things. the verdict on some of those other things. even by treasury bonds, mortgage securities. they can do more of that. and my guess is, may send as they will probably engage in
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similar bond purchases. they'll probably buy mortgage securities to get them down. having said that it is a debate. this is a committee with lots of powerful, strongly opinionated smart people with different does. you have a group on this committee who's not really interested and don't like these alternative approaches for buying treasury bonds and mortgage securities. they just don't think that's a good way to go. i'm sure there'll be a fair amount of contention at the meeting. but at the end of the day chairman bernanke will win the day and probably get some more monetary meaning. by the way mortgage rates are at record lows. so 3.75 3.846 your mortgage is as low a rate that there has ever been and it is likely to go nowhere. post a letter from mark, republican and albany new york.
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>> caller: good morning. i guess two questions if i may. one is with regard to the fed policy of keeping interest rates low. i know there has been criticism of that. i think that it is advisable because you want to keep the peace alive at any cost. i guess along those lines there is people i know this is blessed with the federal reserve but the congress, for example could avoid the mistake made in 1837. but congress seems headed to doing this flashing pending in making budget cuts in things like that. it seems right now the stimulus was a little bit too timid and we probably need a little more fiscal stimulus along the lines of a paul krugman has suggested. i wonder if you agree with that. and finally fma with regard to the europe, it does seem that the greek elections there is a possibility of who runs on the
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day in europe and it seems i can teach like contagion could occur. i'm wondering if you could agger davon that because frankly i am very alarmed by that i was like some professional davon that. >> guest: yeah, thank you for the very thoughtful questions. appreciate that. with regard to greece and deposit runs, you are right that's a very worrisome development. there is a lot of nervousness, brightly so among the great population that if greece leaves, their banks would collapse. and so, greeks are pulling money out of their banks and putting it into things in the rest of europe and other parts of the world. it has become self-fulfilling. if you pull money out banks will fail. this is also happening in other parts of europe the notably in spain, spaniards are nervous about their big vendors now deposit runs in spain.
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so, one of the key response is i think european policymakers have to come up with their is some kind of european might solution to the banking problem that they need to be able to have a positive insurance and think we have at the fda sees that insures deposits at $250,000. they need a european wide deposit insurance fund to give people confidence, greece spaniards, who must put their money is safe and they don't need to pull the money out. europeans also need a european wide approach to banks in europe that are troubled. the lack of capital and troubled months before capital initiative something similar to what we did in our country back an earlier night in the wake of the financial government took equity in the banks and provide capital for the t.a.r.p. fund which at the end of day was highly successful in stabilizing and
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europeans need to do that. they have a bailout fund called the efs, acronym that will involve another acronym the esm. they have to figure out a way to use it and use it fast. i think they would do those two things, but they need to do it. if they do i think the bank runs well and on the crisis would develop code for the time being they will keep it together. go ahead. i am sorry. there was a question about additional fiscal stimulus. would you like to take a crack at that as well? i was the first question. okay. we can talk about anything you want. we can talk about the phillies lost to the dodgers last night. whatever you want. >> host: poster as a pennsylvanian about that. >> guest: that is also a very
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good question. you know the debate interestingly enough isn't about more stimulus. it is not about reducing some of the fiscal drag that is occurring and will hit him full force early next year. the stimulus put in place a couple three years ago is now completely gone in government spending is declining quite sharply is a very heavy weight on the economy. and that we will grow a lot heavier at the start of the year because at the start of the year what is going to happen is under sequestration which is what we agree to to put that sequestration last summer as a large number of spending cuts. about $100 billion worth of additional cuts in 2013. that is going to be very difficult for the economy to digest. for example the bush era tax cuts have also going to expire.
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so this is known as the fiscal cliff and it's a real cliff. it is going to be impossible to get to the other side of that. so i think congress, administration may be after the election when the next president is inaugurated, whenever that may be, they have to reduce the cliff. but again, to reinforce the point that's reducing the drag and cutting the cut so that it makes it a little more palatable and easier to navigate through. i think that is absolutely necessary that if we don't do that will be in a world of hurt. >> host: mark train for joining us from westchester, the thing it. talking about the senate and the fiscal cliffs of the lame-duck section in the new year. mark zandi would a new book on the financial shock of the subprime mortgage and pushed and have to foot the next financial crisis.
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let's look at the next mortgage and interest rates. the primary 3.25% as you mentioned, this is so low. how do you see this coming into play? was tied into a question on e-mail the series. how much lower can they go? is there no incentive to save? >> guest: well the impact of the lower mortgage rate is very, very significant. two key ways this works when it's refinancing so people can limit the mortgage rate on their current mortgage to take advantage of this. and they are at duty is up quite sharply. anyone with a mortgage should look at what they pay and ask themselves if they should refinance. >> host: before in the font, how does that help the economy? doesn't stimulate? it certainly helps homeowners individually. but if the bigger implication?
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>> guest: it is quite significant. if you say you have a fixed mortgage rate of 5.5% can you come over to three and three quarters or four, on an average mortgage u.s.a. 100 he committed the $250 a month. that is a lot of money and that money goes to paying bills college tuition, making sure you can pay on your dad. so that is a big boost to the economy. >> host: we are looking at the average 30 year mortgage rate. 3.71%. >> guest: that's right. home sales, which have been in freefall because of the housing crash are actually starting to turn around. new home sales and i think the key to a better economy frankly is getting the housing market moving north so lower mortgage rates will be a big part of that and i will be very helpful. you did ask -- the e-mail did ask, you know when rates go lower? i think very likely yes in the
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near term. we are not going to stay here for very long. this is incredibly unusual circumstances. we may be here for the next six 12 months. but if you look to recover for years, people will look at these is incredibly attractive rates. we will not see these not my lifetime. >> host: good morning. >> caller: mr. zandi, i have a few questions. one of my questions as, what caused our economy to be in a decline? who creates jobs? why haven't they created jobs? with infrastructure spending help and would congress be responsible for creating jobs? is this part of the pulley to derail president obama's presidency? >> guest: well, one could write a book to answer that question. and i did.
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it's called financial shock. that's a good set of questions. and by the way this is a shameless plug but i've another book coming out in september called paid the price is set aside the policy response is put in place to address the crisis. but quickly trained to hit your questions, bottom line and the reason we got into this mess is because we made millions of bad loans. our financial system failed us. and i can say that i'm part of the financial system. we messed up. we made a lot of bad loans. that in the sense that under reasonable as they would not get repaid or they didn't. it took a financial system to its knees. it would've crashed without a government bailout. government had to step in. as it is, the financial system was hit so hard that we suffered a very severe credit crunch. a lot of banks for lending at
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all and we suffered the great recession. here we are literally three years later almost to the day when the recession ended and we are still struggling. they're growing moving forward. we've made progress in the taking out of the hole but the reason i think we can't take out faster is really the nightmare of what we went through. it was near death experience for lots of business people, including myself have businesses to run the edge. as a businessperson you don't forget that if that is something with you on your not going to forget and it's affecting people's behavior. if anything goes wrong in the world, europe obviously is good case in point, but it could be the treasury to assume a share. even the japanese tsunami. if anything goes off script even at that it causes people to pull back and they stop hiring. not that they are laying off. that would be not happening, at
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least not yet. what happens is businesses freeze. they say i'm not going higher a person. i'll hire next month. so the answer to how to get out of that requires just reasonably good policymaking in europe. we talked about that in the emerging world particularly china and here in the united states that requires the federal reserve to step up and provide more monetary easing. for fiscal policy makers, what it requires given the politics they won't do anything before the election, but what they can do is signal to us that they're going to be able to work together in a reasonably graceful way to solve this problem. they want is the treasury debt ceiling is a source of workmanship like they did last summer when it is so much damage to the economy. all we need is a set they can get it together and a moderate level of mutual respect and i think we will be fine.
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posted chicopee, massachusetts. caller, you're up next. >> caller: hi i'm a little nervous. it seems like there is too much entertainment and people aren't understanding and not being taught history, but the federal reserve is the same international funders that funded hitler with criminals in our cover with dual citizenship that basically find both sides of the problem. press.push under bush families with the ones that are immigrants that came to this country who basically funded hitler back then. we had this problem with george w. bush giving the power to the international corporations and the cfr which is the council on foreign relations so they can power up the world bank and
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>> such as territorial treatment of the profits of international corporations and and the keystone pipeline? there are things involved but i don't see why that stops that from advocating. with just seems it is the debt producing path when the appears are left in the closet. please help me out to. >> you make a good point*. from policy makers, what you
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propose with territorial taxation that is wrapped up but there is a great deal of bipartisan support with the need for corporate tax reform. using the revenue to bring down the tax rates for all of all kinds. the territorial debate is part of that. i am optimistic we will get reform with territorial taxation is part of that. the xl pipeline, there is general agreement we need to develop all energy's. but with that specific case need to consider the environmental cost.
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when you say debt-free it is the cost benefit analysis. >> and i could concur with the thrust of your question question, there are things to do that does not add to the debt level. >> we could focus on infrastructure spending bill of finance not with government debt but team up with private capital those who would like to invest infrastructure. if they could have the catastrophic backstop, we could get a lot of infrastructure. it makes all businesses more
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competitive, you can reach into all communities everybody agrees they could use the help. there is a lot of support. all of these stains there not something that will mean something next month or six months down the road. be still need to focus on that but also the here and now. >> is sent ben bernanke in a box? if interest-rate said could rise to bust the budget but to go harms the day bourse. >> chairman bernanke is never enough box. he is incredibly creative busting through all barriers
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and surprises me every step of the way. he figures out a way to aggressively and ultimately reasonably and effectively effectively, it would be nice if interest rates were higher. you cannot do that obviously but some of which wendy each time a may take some of attorney for the worse. there are thinks he could do to be effective. >> bernanke goes before congress on thursday. what do you expect him to say? >> the economy is tough.
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8.2 percent unemployment rate threat to our expansion and he is willing to do more monetary easing if conditions warrant. also to reiterate. and fiscal policy makers need to start thinking about what to do about it. it will be very difficult for the federal reserve to get us out. he will make a strong point* that they need to act. they cannot act before the election but after words
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they can act aggressively. >> caller: good morning mr. mark zandi. i have bet watching the movers and shakers since the recession risk -- recession started. glass-steagall vs. dodd franc and the volcker rule which of the two brings us back to the fiscal responsibility i find it shocking and appalling that glass-steagall that worked so well was repealed the late nineties by phil gramm from texas. what do you think is the trigger or why he boyd want that take it off the books?
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thank you very much. my sense is there is no going back. glass-steagall vs. legislation from the great depression that broke apart commercial banks of the deposit taking activity from investment banks. and doing allot of proprietary trading. one key reason not to go back is we're now in a global financial system. they are competing with very large institutions and their
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very large and the chinese and european bakes are large lenders. i don't think they were cut 1/2 and downsize to could compete. we would lose control. the other thing is more esoteric but if we cut the bank down to the bite size the risk does not go away but it is shoved out into other parts of the financial system. in my view we have to make it work better. todd frank makes it work better.
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>> the senate is about to tackle of major reauthorization. tell us about major issues to come up during this debate. >> we need to look at the reform to shift away from direct payments to a program that is more risk-management. some say it is a great way to save money. about 23 point* $6 billion the there is some push back from farmers who would rather stick with the direct payment system. >> talk about the key players. >> debbie stabenow is the chairwoman will be very
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active in she personally has taken control of the bill. you will see of wide cast of characters because the farm bill touches about everybody. predict your leave of lot of senators. height up people the push back will come from saxby chambliss. efforts to coalesce around an amendment from kristin gillibrand that is the most active people you will see. >> host: what about food stamps get their attention and? >> the farm bill really is the food bill more than commodity crops but food and
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assistance and this that program and it cuts $4 billion and there are cuts all over the board. senator stabenow says the majority cuts come from air wing administrative cost. but it is used more and more during the recession and there are concerns in a cuts could be from the people who needed to. >> why will it take several weeks? >> is a huge bill. enormous. $969 billion. a great opportunity for amendments. dozens and dozens are pouring in. it is done have to be to the germain to the amendment
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because they can bring in the apportionment method and those that are germane there are issues about growing food and the debate will take time. >> host: a debate on the farm bill in-house anytime soon? >> guest: a good question. care in this said if given the opportunity it will move things forward. but there is a lot of question if there is enough pressure to bring it to the floor. it is an open question if it gets to the house floor. >> host: allot facing congress in the summer. what is the timetable for the president? >> it expires in september. it does not go away complete the but reverts back to the
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law from the thirties and forties which would be difficult for farmers. most farmers agreed they want to get something done this summer but it is tentatively but by the end of july to resolve issues. >> host: thank you for the update kelsey snell. >> the latest update with the 11% reporting republican governor walker has 61% and milwaukee mayor tom barrett has 39%. >> and energy reporter with bloomberg with the house
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debate 2013 energy and water spending bill. >> the bureau of reformation and the regulatory commission. the key issues that it would cut funding for the energy department for renewable energy programs which is proposed by the above the administration and in addition it has several policy writers including the ones to continue funding the application reprocess and maturity the leader harry reid in addition to the policy writers and stops the
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energy department comparing to the 2013 bill that is debated? >> with last year's bill 32 billion with supplemental disaster relief it comes in at $33 billion. >> what does the bill say about house republican priorities for the energy bill? >> it is a lot of messaging but most want to increase funding for programs and renewable energy for energy
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efficiency in the advanced project agency with the transformative energy project through traditional mechanisms. >> hearing from secretary to? >> i have not heard but the administration and issued a veto threat to because of the ideological and political policy riders concerned how it would play into the budget and funding levels and there would nba enough leftover for the appropriations process. >> host: the second full day of debate tell us about the tone of opponents?
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>> and there is a democratic amendment increased funding and republican end offer amendments including members taking finding a way from the renewable energy programs. >> where is the senate on their version? talk about the timetable. >> out of the appropriations committee in april there was a lot of bipartisan support, senator feinstein said she rubens the bill to move which is up to the leaders in the senate.
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it might come up later this summer. >> host: talking about the 2013 energy and water spending bill. thank you for the update. >> amendment debate through the energy and water spending bill continues live on c-span. the boats are tomorrow. we will start shortly with live coverage of the race between governor walker and tom barrett with the recall election. if the governor succeeds he would be the first governor to fend off a recall. first part of the white house briefing on college costs. >> [inaudible conversations]
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>> i was in a meeting with the president. it is his fault. [laughter] we apologize for the delay. we welcome you to the briefing room for your daily briefing. i have with may secretary of education arne duncan and director of the consumer financial protection broke to talk about student loans and college costs. they participated in a round table led by the vice president with the number of presidents of colleges and universities to provide more
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transparency about college cost to make financial decisions. first i will turn it over to secretary don't get and director court jury. they will talk about to the bucket of issues after rich i will take your questions on other subjects. >> they give forgiving as the opportunity. secondary education is the ticket to success although never more important it has also never been more expensive. the added frustration tries to keep college affordable by helping students manage their debt also to extend permanent the tax credit and create incentives for institutions to keep college
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cost from escalating and increase completion rates for also provide parents with information they need to make smart decisions each year colleges and universities send financial aid award letters how much it will cost them. but they often look different and contain different permission and do a poor job to make clear how much they received with grants and scholarships and how much they have to borrow. that not only makes it difficult to find out how it will cost the makes comparison shopping almost impossible. with double 6,000 institutes of higher education behalf to empower parents and students to make a good choice. we have worked hard do
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standardize the permission to make the true cost transparent. it will be available with this fall and hopes it will be voluntarily adopted by the community. it is not rocket science but a triumph of common sense. we are pleased to announce the leaders from 10 diversities have already voluntarily adopted from our proposal that would give much greater transparency. these presidents at is a fantastic group. the or to think the employer commitment and courage and commitment representing over one point* 4 billion students. they are significant players and a lot of energy in the room. they pledge to provide every
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incoming student with easy to understand information including how much one year of school will cost them. to. financial aid options to pay for the cost with a clear distinction between grants and a lot -- scholarships. the net cost after. four, estimated monthly payments for the federal student loans and critically important information including comparative information about default rates and retention rates. we work very hard with a step in the right direction. the goal is completion. having this important information helps parents
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make the best and informed decision of where to enroll. today we call on all 6,000 colleges across the country to make the same commitment to provide easy to understand financial data. director cordray has an amazing part in the effort. thank you for their leadership now by two turnover to talk about what they are helping consumers and parents and students. >> higher education is the critical part of the american team. but many students it can only be realized through borrowing. paying for college is daunting.
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it is the first decision a student will make. unfortunately the process is complex and confusing. is hard to compare costs, a guy with financial aid and figure out how much debt they can afford. we have heard from thousands of borrowers that says they did not understand what they signed up for. they signed up for private loans before exhausting federal loan options. others were credit-card and they got in on their head. we announced outstanding student loan debt crossed $1 trillion per good has eclipse creditcards as a leading source of debt outside of mortgages. the stakes have never been higher to understand the cost and risk of dead and stove recover from the worst
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crisis since the great depression. it did have real consequences. students need to know before they owe. to give people the confidences at the financial world is not full of tricks or traps. we want information to be clear so consumers can make wise financial decisions. today's announcement is an important step. party down again is a strong partner to develop the sheet to enable students to clearly see it -- c8 options to pick the package that works best. >> a couple of news organizations have called the recall the election "the national journal" says scott
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walker defeated milwaukee mayor tom barrett with a historical recall challenge less than two years into his term. we would get the wisconsin perspective with wisn-12 out of milwaukee for the candidate's speeches. >> i am a great supporter of education and. >> only cowards don't compromise. we have a coward and office and we need to get rid of him. >> this is the second time i have voted. >> she just turned 18 voted in a statewide election end and today provided is the seventh election in 14 months. very high numbers summed over one 90%. is a remarkable might.
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walker headquarters that show scott walker with 60% over tom barrett 40%. >> 26% reporting at this time but now abc calls the race. what is the mood out there? >> you can imagine and with the uproar. when word came down the race has been called for governor walker burma first in history to successfully defend himself in a recall. working with the governor on the budget they were joined shares alberta, let me get your reaction. were you surprised? >> i knew he would do well.
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he did it. we are on the right path. >> you have been talking to your people? >> the numbers look great. the reforms are working. we knew there was a silent majority and now they finally have a voice and i am confident that they believe the reforms are working and can focus on jobs. >> to talk about the divided wisconsin but with the legislature we have a tremendously divided legislature. but now to go back to work how do change the mood and atmosphere? >> the election today we'll
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change the mood. people have had enough of politics, telephone calls calls, they applied to to get back to grow the economy and balance the budget. >> people on the democratic side said my way or the highway. deerfield there is reaching across the aisle? >> 96% of the bills are bipartisan. the major differences was the budget that would not raise taxes or develop of a deficit problem. so they did so on the bill that helped to grow the economy.
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>> >> this is vindication for the reform efforts. >> and other legislators will say they made the hard decisions and balance the budget to get the state on the right track. >> that is senator darling and representative vos. a rowdy crowd receiving news governor walker has been declared the winner. wisn-12 news. now we continue our live coverage from downtown milwaukee. >> the mood is very up the. nobody is ready to except what abc is saying.
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the race has been called. what is your reaction? >> percentage of the folks that has come and and at black of early those it is too early to call. racine ran out of balance progress three individuals in mind the cuts they ran out of balance. is little too soon to call it for governor walker. >> if that trend continues what does that tell us? . .
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>> he has also told us that he balanced the budget come and he didn't. i am willing to roll up my sleeves and do my part. i have said that to governor walker. i did some of the most bipartisan things and legislation. 98% of the bills that we do are bipartisan. the reality is is that there are some places that we can work together. i think that we can roll up our sleeves and try to work on a mining bill or unemployment.
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there are many things that we can do. we can look at education in the state of wisconsin. we are going to have to move forward and invest in our children. >> thank you, senator taylor. we won't have an official reaction of the results from democratic headquarters here for quite some time. >> we are now an hour and six minutes since the polls closed. people still in line trying to place their votes. let's take a look at what the results are so far in the race for lieutenant governor. you can see 33% of the votes coming in, lieutenant governor rebecca kleefisch, standing at 50% and thank you standing at 42%. >> we are going to look at the
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counties in this area. milwaukee and then we will look at what we call townies where -- where scott walker can do very well tonight. again, not a lot of votes are in in milwaukee county. a% of the precincts counted. scott walker with a slight lead over tom barrett. tom barrett has to do very well in milwaukee county. he would've had to do very well tonight. let's jump to waukesha county where the numbers have changed slightly from the last time we reported them. 20% of the vote was an come and now they are saying 10% of the vote is in. scott walker with a big margin. we expect that will continue to be a very strong showing by scott walker threat evening as the votes are counted in waukesha county. just to the north of milwaukee county scott walker with 70% of the votes. tom barrett with 30%. 47% counted. washington county, if there is a
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more republican counties in waukesha county, maybe it is washington county. nearly 80% of the votes going to governor walker over mayor barrett. finally, let's look at the scene county. we are starting to get some numbers there. again, there is a big state senate recall election featuring van wanggaard and john lehman. 15% of the precincts reporting governor walker, 63% mayor barrett, 37% for the only thing i will add is that it is not just abc news that has made that projection. it is also now cnn and probably about three other national news outlets. >> we have not heard from the associated press yet. they will be one of the last tonight. we are also keeping an eye on the state senate races. one of the ones that is interesting is a rematch.
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it is van wanggaard against john lehman. we did finally get some votes in on that, and it looks like the incumbent is ahead. >> showing 10% reporting right now. jason newton is live at the scene. jason, what is the atmosphere like? the numbers to slowly coming in. >> a lot of energy with the walker numbers. [cheers] [cheers] we are excited about this. >> let's talk about the governor as these numbers come in. the same thing you heard moments ago, what does this mean? >> i think if the governor said -- [inaudible] [cheers] [cheers] >> you were supposed to be
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inside about a half-hour ago but you have been outside the whole time. >> it is pretty awesome. we have a lot of energy and we have to be positive with what we are doing. hopefully the numbers will get more clear as time goes on. >> as we were saying earlier, as we announce for governor winning, it has been a slow process with numbers coming in. we will get in touch when we know something more definitive about this race. >> we are looking at a lot of different screens right here. the associated press called the race, saying that if scott walker survives the recall election defeating the mayor of milwaukee, to keep his job, this news is going on around the world right now. >> the numbers are continuing to come in. it is not the official call of the race, but this is what everyone is seeing my least so far with the numbers we are seeing.
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we continue to live team coverage. >> he is with john lehman in that state senate race. >> john lehman is not yet here but supporters are behind me. they are milling about here in this room in racing. they are all beginning to learn the news right now. many news outlets reporting this is the governor's race. let's do a little bit of analysis now. it looks like most media outlets have called this race for the governor. what if anything do you think that means for the racier? >> is too early to tell. we are hearing reports of numbers. we are hearing that john lehman is outperforming tom barrett and a lot of the wards. we still have a lot of optimism with a high turnout in the city. it is going to be a competitive race, one that we think that john lehman will win. >> one of the things that i want to emphasize for our viewers we were talking about this in racing, there is a big split between the rule and -- rural
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areas and town areas. where is the focus for where the numbers are coming from? >> when and where the people are turning out in the city. i think you will see that we will do very well, and we will do well in the swing areas. as you see those numbers come in, i think we will still pull this off for john lehman. >> representative, thank you so much for being with us. many have been campaigning for john lehman throughout the last several weeks. some were involved in the governor's race, too. what we are waiting for now is the candidate to walk in himself and for more numbers to come in. >> thank you, abe lubetkin. votes are being counted in for state senate seats right now.
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including district 13 which covers parts of dots, waukesha and jefferson counties. as you see here, we have 39% of the vote. you see 1% of the vote right there. lori compas with 39% in scott fitzgerald with 60%. >> it appears to be a good night for the republicans to keep their positions. charity maltin with 60% of the low end christin dexter for 40% of the vote in district 23 66% to 65% of the vote. these numbers coming in as we're talking about them. 27% reporting at this hour.
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35% of the vote. >> it has been an interesting night so far. it is looking good for many of the republicans were involved in the recall tonight. voter turnout has been huge today. the numbers in the race for governor continued to pour in. in fact come you can take a live look the bulls have officially closed. if people were in line committee will still have the chance to have their vote counted. stay tuned for election coverage. >> mitt romney and his remarks in texas. here part of his remarks. [applause] [applause] [cheers]
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[cheers] [cheers] [applause] [applause] we are at a crossroads in this nation. we are at a crossroads between two directions for america. i happen to believe that free enterprise is very important to this country. free enterprise and free people pursuing their dreams is the only combination that has ever created a middle class. i want to make sure that we have a strong and growing and prosperous middle class. president obama wants to make america more like year. i want instead to resort to america the principles that made us the hope of the earth.
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[cheers] [cheers] >> we will hear from former president bill clinton in the next break. 40% of precincts reporting in wisconsin, governor scott walker has one the recall election there. over democratic mayor tom barrett. we are going to go back to local coverage. >> the race has been called the voters are still lined up at this hour. >> that is right. christina palladino is live. she's at the municipal building in downtown milwaukee. we have doubts, as the race is being called in the and the numbers are being called, are the voters saying anything, seeing it on social media or anything? >> a lot of people on their phones looking at their twitter and facebook feeds and learning the news now that the race has been called in favor or governor walker. i am with drew webster from milwaukee. how long have you been waiting
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in long line? >> i have been waiting for over an hour he meant what you want to still vote? >> my voice needs to be heard. you have to say the accurate margin is very close. i want my voice to be heard. >> you are listening to christina palladino. she's talking to people who are still in line at the municipal building that they are hearing some of the news that we are hearing from the national networks that are calling the race for scott walker. they are standing in line saying their vote will count. >> they still want their vote to be on the ballot. we will continue to follow what is taking place. the numbers are still coming in. more races are being called. we will have the latest updates after the break. >> the break now in coverage,
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former president bill clinton spoke at kinking fundraisers yesterday for president obama in newark. mr. clinton praised president obama's leadership and was critical of house republicans. here is part of what he said. >> this is a big, clear election. also, for me, it is important to say in my opinion he has done an amazing job of making our country more secure. more safe, more peaceful, and building the a world with more partners and fewer adversaries. that is very, very important. [applause] [applause] he has had to get all of this done while people as recently as last week were saying he wasn't born in america. [laughter] he has had to get all of the sun
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with a house of representatives that had one of the tea party members claim that 78 to 81 members were members of the communist party, nor any of the leaders rebuked him for saying that. this is not the 1950s. at least joe mccarthy could skate on the fact that there was one or two living communists working around. [laughter] [laughter] nobody has seen a communists in over a decade. >> mr. gorbachev tear down this wall. this sunday, marks the anniversary of president ronald reagan speech. also, our series, the contenders. fourteen key figures that ran for president and lost the
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changed political history. this sunday, james blaine, american history tv this weekend on c-span 3. >> vanity fair contributing editor michael joseph gross, has written an article about the internet and how it was created. in the debate over who if anyone, should control it. you can read the article online. it is linked to our website. you can talk to the author as part of our spotlight on magazines tomorrow morning at 950 and eastern on "washington journal." now back to my walkie wisconsin, and more about the recall election. >> the race has been called for governor scott walker. we want to go back out to christina palladino. people in line are still there. >> that's right. the line has shortened up and people are again starting to learn on twitter and facebook on
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their phones that most of the major networks and the ap have called the race for governor walker. i am sure with drew webster from milwaukee, although the race has been called in favor of governor walker, why do you still want to be here and cast your vote? >> i want to still make sure that i can, well impact the election and the numbers and the margin is held. people died for my right to vote. and i want to make sure that i can still vote. it is my right to do so we make absolutely. how long have you been waiting in line? >> 1.5 hours. >> it is 30 mins later. >> yes, it is cooled down since the people have cleared out. the line was actually over by the door. it is a pretty long time waiting in this hall. >> all right, thank you so much. as drew was saying, most people are going to wait it out a little bit longer.
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why not come after two hours to cast their vote. the line has trickled down to only a few people. they want to cast their ballot even though the race has been called for governor walker. >> it is a historic election and people want their votes to count. the recall race has been called. there have been no concession speeches yet. we have not heard from the candidates. governor scott walker has been ruled the winner by abc the associated press, and a number of other organizations. >> we have a team of reporters at each campaign. live reports are straight ahead. you're watching a special recall of this election. >> a wisconsin perspective on the recall election in a few minutes. the senate today blocked the general pay discrimination bill. the measure would've increased penalties against employers who discriminate based on an employee's gender. here is the bill's sponsor a
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maryland senator, barbara mikulski, talking about the bill after the vote. we'r not >> we thank you for your vote and your voice. i just want youp to know thate in though we lost the vote today we are not going to give up on sadder this vote. it is a very sad day here in the w united states senate, but it is aomue t saturday everyday when paycheck day comes and women continue to make less than men.onsider, we are sorry that this vote occurred, strictly on party lines.il under your effort to reconsider, we hope to bring this bill up again. 49 th we hope to forge a bipartisan vote. i just want to say this youqual know, we are coming up on the t 49tho anniversary of equal pay for equalda work. we are not going to let this rule bill by in parliamentary s entanglement. the majority should rule. the majority should rule in the aro united states senate. i justun want to say this in theon she words of abigail adams. forge
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john adams and all the guys were sitting around writing the constitution. she wrote him a letter and said, y don't forget the ladies. get and they did it for 150 years. then they forget, too, to get rid of the loopholes and equal pay act now. abigail says if you forget us,volution, we will form our own revolution. and we will form a revolution. i say to the womeno here to the good men to support us, to the put women out there in america, sq let's keep the site going and let's fight for this new american revolution where women are paid for equal pay for equal work and let's end wage discrimination in this century once and for
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>> we have been talking a lot about what has been going on. that not only in wisconsin but the national ramifications. a lot of people have said that there may be some fallout from this election on the presidential election in wisconsin in november. we have an opportunity to talk with the chairman of the republican national committee a short time ago. here is what he had to say. >> i think it is important that people like scott walker are protected and they are successful. i think it gives us national implications, not just for the white house, but in state houses all over the country. we will wait and see what the implications are. right now, we are feeling like we can win wisconsin tonight and in november. i think it is tough for this president. >> one of the things that is so tough is the republican vote that they were able to mount in wisconsin.
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that is something they are going to keep focused on over the next several months. but for now, these people, of course, are just focused on this election and this win for governor scott walker. reporting live 12 news. >> our team coverage continues. he is covering mayor tom barrett's campaign in milwaukee. >> the mood continues to be upbeat here, although somewhat wary by the calls by the networks. i am joined by the director of the campaign for her mayor tom barrett. what is your reaction? >> it was very premature. i am watching your station, and you showed people in line still to vote. there are a lot of those votes out there. this is just a premature call by a media group and groups. we will let the voters and
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people decide. let them decide. >> some of the early exit polls were showing the race being a little bit closer. do you think that has any reflection on what we are seeing right now? that that is what you are wanting to wait longer? >> we have seen in the last week or 10 days polls are showing a 5050 mac split. now, showing only half the state, it leaves us wanting to wait a little bit longer and let the people decide. let the votes come in. we talked before it and you mentioned the florida debacle. >> if governor walker wins what is going to happen in your perspective? >> right now, we are going to
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keep waiting for the results and we will let people decide the race. >> what will he tell the people of wisconsin if walker ends up being the winner tonight? both sides say they want to move forward from here in wisconsin. >> both sides want to overcome the political chaos and turmoil. he is prepared to do that as a governor with a kind of leadership he will provide. that is why i think people want to elect him. >> thank you, phil. he's the communications director for the barrett campaign. >> thank you for the latest. breaking news from the associated press. they are calling the race for lieutenant governor rebecca kleefisch. 58% reporting, 50% she has that number. 42% going to her competition, mahlon mitchell. >> now we go to mike and his
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update on the different counties. >> we are going to do a little bit more of that to give you an example of what is taking place at least up until this point. we are going to show you the full state of wisconsin. we have blue collars were -- blue collars for barrett red colors for walker, and green colors for trivedi. this is an idea of where we are. tom barrett is showing strength in rock county. bear with 55%. scott walker with 44%. rock county is home to james
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dale. it has some economic challenges right now. you can see that barrett is faring better there. if we come back over to the so-called counties -- scott walker with 73% of the votes. if you go up to washington county, just to the north, 69% of the votes counted. a worker with nearly 80% of the votes. again, another county we are keeping a close eye on, racing county only 50% counted according to our calculations. tom barrett 37%. other than the far northwestern tip of wisconsin, where democrats tend to fare pretty well. this is been a big night so far for governor walker. i did want to add one thing. i think because it is still fairly early in the evening, you will not see the barrett
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campaign can see for a few minutes, because they are looking at the back of this recall effort has gone on for some time. more than 900,000 people signing petitions, and i think you still see some people standing in line. and i think they're going to wait until everybody up has a chance to cast their ballot. they will give it a little time and then they will have to face up to the reality that we just showed. >> new numbers in the state senate race. district 21 which covers racing county. john lehman challenging van wanggaard. as you see here you have van wanggaard with 63% of the vote to john lehman's 20%. this campaign is a rematch of what happened before at. >> now we want to go live to jason newton who is at van wanggaard's campaign. the numbers are trickling in on this rates historically we have
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heard that the numbers have come and slow. tonight, it has been true to form. right now we are hearing that senator van wanggaard he has shifted back as more of the numbers come in. a little earlier we talked about the governor right now being declared the winner. so many people coming out to vote. he had a theory on why the numbers were so high. take a listen to his answer. >> i think there is a lot of pent-up frustration from the conservative base that is really trying a lot more people out to vote this time. >> that was his theory here in milwaukee, as he you saw. a lot of folks still in line. he says what he has heard so far has been positive, but right now coming back with the official report. the 10% is what is being
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reported. we will wait for him to come back out, until things are made official. >> all right, we have heard from van wanggaard, but we have not heard from governor walker at the podium yet. the associated press has been in contact with them. governor walker tells the ap that the win feels good and he wants to bring people together. >> we will see him at the podium as soon as he does take the podium. we will carry his speech, the same with mayor tom barrett. live coverage continues with abe lubetkin. >> that's right, we are here with the john lehman campaign in racing. i want to show you the crowd that has been growing throughout the evening. there is a lot of disappointment. i spoke just a moment ago with one of the people that has been coordinating the efforts and has been for the last several week on 10 weeks. she said this point, they are
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scratching their heads, trying to figure out what went wrong. they are very disappointed, in fact, to come speak with us here. right now from the crowd is beginning to look at the numbers from the governor's race and from some of the other precincts that they are beginning to report here in this race and trying to process what comes next. no official word, but certainly a lot of disappointment here. john lehman has not yet made an appearance, but when he comes here and has something to say, we will also relate what that messages. live in racine, abe lubetkin. >> meanwhile, we want to take a look at more numbers coming in. this from district 13 which covers parts of the object jefferson, and waukesha counties. we have 56% of the precincts reporting their numbers. scott's fitzgerald.
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>> absolutely. a lot going on behind-the-scenes right now. i'm a lot going on in social networking as well. facebook and twitter are buzzing with talk of the wisconsin recall. and we will take a look at why some of -- what some of you have to say tonight. >> we will take a look at the unusual number of times voters have had to head to the polls as of the last elections. >> it would have required employers to prove to prisons and pay are based on qualifications, not related to gender. the bill's sponsor senator mikulski, now here's senator dean heller. here >> this proposal could not pass with democrats controlled both chambers of congress.os a
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yet, here we are today voting workpla on the same measure again and again and those who are actually victims of workplace discrimination are only getting lipservice from washington. like many of my colleagues, idress worry t about this proposal thatadvancements will only increase litigation and do little to actually m address the problems of pay. inequality. advancements s and pay have been foc made. but more needs to be done. congress would better serve the hard-working women of our nation if we focus on solutions that have actually worked. to this end, i have introduced the antidiscrimination information act.y're this legislation will protect employees who are trying to determine whether or not they are experiencing a indicat determination. no one in this body shouldat be so ve a naïve to say that pay discrimination has been eradicated. what we need togar do is make sureimination
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that employees can findormation information that they need to determine whether or not they have a legitimate claim against their employer. whise-blower the end pay discrimination act provides anti-retaliation and whistleblower protection that both sides should be able to agree upon. my n legislation is a solutionlawyers a the within the existing framework of our legal system that does not provide a handout to trial lawyers as the underlying bill would do. useholds depend my bill also recognizes the role of women in america's workforce, and the fact that an increasing number of u.s. households depend on the income of working women. and my legislation states that equal all pay for equal work is a principal and practice that goin should be observed by allork. employers. everyday working women are going above and beyond balancing their responsibilities at home and work. to provide for their families. the least we can do is censurel for
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t that employers who intentionally discriminate should be held i a accountable for their wrongdoing.t i believe my bill is aailed i reasonable bipartisan step in the right direction. instead of bring up legislation that has failed in the past and go in the future, this congressing needs to give our nation. and achieve the career successes that they deserve. thank you mr. president. floor. >> years from now they will say the campaign to save america begins tonight. check out jericho >> i want to thank
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my family. i. [applause] i want to thank the people who voted for the first time today. [applause] i want to thank the people who have given up on politics. but they showed up today to take a stand. [applause] and i want to thank you some of the hard-working families of wisconsin, who never lost faith in our great state.
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thank you guys so much. god bless you and god bless the great state of wisconsin. [applause] [applause] >> very brief remarks from lieutenant governor rebecca kleefisch. again, this was the first time a lieutenant governor has ever faced a recall. she thanked voters who came out of the first time ever voting for the first time ever. i think there were probably thousands of them, based upon what we are hearing about voter turnout across the state. i am joined by someone who is about to mount his first-ever statewide campaign. give me your take on what you've seen here tonight. >> this is a huge night. we had a politician that stood up and had the courage to do the right thing. governor walker inherited a
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$3.5 billion deficit, and collective bargaining that was causing some of our best teachers to lose their jobs because of tenure. the insurance companies come you could go on and on they were charging the state more. this is a big night for wisconsin. i am just glad we are through it. a lot of people have not been able to focus on the senate race because all of the attention has been on this recall race. there has been a lot of talk about national implication and the fallout from this race. the impact that may have. not only on the senate race, but on the presidency as well. give me your take on what you feel carries over from this. >> all, i think there are a lot of positive momentum is. governor walker tackled this. we are running a trillion deficit in the u.s. government right now. the problems are just magnified. it is time to take the victory
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and carried on to washington dc and changed the course of our federal government so we don't end up where zero is. >> eric, canada for u.s. senate. >> there is a lot of excitement at the waukesha expo center. waiting to hear from governor walker when he takes the stage. >> here's some perspective on how unusual this election cycle has been. this is the seventh trip to the pool and just 17 months. justice david pulser and joann
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kruckenberg back in april, 2011. that was followed by the senate primary and general elections last august. in february, wisconsin voters went back to the polls for the local presidential primary then in april the governor recall primary in may. >> after casting ballots, many have been taking your vote to social media. >> we have gotten lots of comments on facebook and twitter, with a closer look at that. we have joyce garbaciak joining us. >> a lot of conversation on social media sites. fans are talking about what candidates they are supporting, and many are excited to take part in a monumental event. jackie writes i wish this history was for a better reason like a better economy. not everyone shares that excitement. laura says i did not vote nor do i have to explain why. the term i voted in the hash tag were among the top trending
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topics in the milwaukee area all day. wisconsin was trending nationally this afternoon. earlier today, governor walker tweetedmac resident reagan died on june 5, 2004 let's win one for the president. >> i encouraged my friends to get out and vote today. >> tom barrett said this tonight. send a text message to five friends and tell them to vote right now. every vote will count as long as they are in line with by 5:00 p.m. this is the first time i have ever sent this many tweaks in one day. you can find more information on the website. >> just another level of how campaigning has grown in this area. we will be right back.
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>> this is the first time a u.s. governor has successfully survived a recall. >> what are some of the energy it topics that lawmakers are talking about? >> some of the key issues on the bill are controversial, the fact that it was cutting funding for the energy department's renewable energy programs and increase funding for other
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programs which is opposed by the obama administration. and democratic lawmakers as well, in addition, the bill has several policy writers including ones that would continue funding for the education processes. the obama administration and senate majority leader harry reid they supported in subways. >> in terms of overall spending on hospital level this year compared to the 2013 bill that is being debated? >> the bill is on par with lester's bill --
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last year's bill. it is on par. the senate bill was appropriated by $32 billion. >> what does the bill say about house republicans priorities for the energy bill? >> i think that it's pretty difficult. there is a lot of messaging, especially in an election year. most republicans want to increase spending for it programs and decrease spending for renewable energy. cutting energy efficiency and renewable energy. also funding transformative energy projects through traditional mechanisms. >> an amendment debate on the energy and water spending bill continues this hour in the house live on c-span.
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results are expected tomorrow. we will go back to local coverage for more election results on the recall election. >> these are the latest numbers. we have a governor with 50% of the vote to tom barrett's 41% of the vote could. >> governor walker saying that bring the state will take some time to bring it together but we will do it. evan walker expected to take the stage soon. >> that's right. throughout this recall process the budget that was so controversial at the beginning and has brought us to this point
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today. as a former speaker of the subway, you look back at us now and what are your thoughts? >> i think it is great. the people have spoken. when we got elected in 2010, they said the status quo was no longer acceptable. i think you are seeing that people are rewarding us. we thought politically we would be rewarded for the difficult choices, and i think you see that tonight. the silent majority said enough is enough. you can see that with a huge win by governor walker. >> there are still hundreds of thousands of people who don't agree with what happened, people who oppose the initiatives that were put into place. they are going to wake up tomorrow as residents and voters here in the state of wisconsin -- what has to happen to bring everybody back together? >> you know what, i think time will have to happen. i think you will see the state boom economically. a lot of people were sitting on the sidelines with a recall elections going on. i think you will see the state
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move forward and time will heal what has happened. you can't argue the facts. we toppled the deficit and we did it without raising taxes. i think people understood that if you have some political courage and don't go along with the status quo, you will be rewarded for it, and we are seeing it tonight. >> you are the former speaker of the assembly. how did this translate to your race? >> i think it is great. the problems we have in wisconsin will be based on a national level. i will take the message. you know what? we got it straightened out in wisconsin. we are going to do the same thing in washington dc. >> thank you for your time. again, this crowd is anxiously awaiting the arrival of governor walker. he will be introduced at the podium coming up a short while.
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governor walker expected to address this crowd and talk about bringing wisconsin together. we will have his address coming up this evening. >> there has been a lot of talk, of course, during this campaign about a house divided is. sisters, brothers, neighbors, on both sides of the issues. when you are looking at this big of a turnout, what you when you think about what wisconsin is saying today? >> i think wisconsin is passionate. i think that is what you are seeing today. a lot of people went into the polls, numbers that are not typical for any gubernatorial election. people did what everyone of us wants people to do. that is to cast your ballot, tell us what you think. help politicians make decisions. if they listen to the public, they will probably make some decisions based on what happens tonight. >> the eyes of the nation are watching right now. mitt romney sent word to scott
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walker tonight, congratulating him on his big win. we did not see mitt romney either it's not like he's going to campaign for anybody but himself, but you have to believe that mitt romney is looking at the results and thinking wisconsin can. >> republicans will use this victory tonight to jumpstart the romney campaign. one of the curious things we have seen in the early part of this year is that when you do polling, it is some people know when you do polling, you will see scott walker outperform mitt romney in the state of wisconsin. these are the latest numbers in the gubernatorial election tonight. scott walker with 58%. tom barrett 41%. we have momentum, voters are energized and enthusiastic. now is the chance. now it's our chance.
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based on what is happening, the obama campaign is recalibrated. i think they are saying, before we felt really good. we are going to have to work now. they are thinking of wisconsin as a tossup state. two or three weeks ago, we were feeling pretty good about wisconsin coming november. >> there were some thoughts about barack obama not campaigning side-by-side with tom barrett. perhaps, staying away because something like this could happen on the recall election. >> we heard amy walter say that from abc news. there was a risk factor for the president to get involved in this very public spat in wisconsin. there are a few people in the liberal part of the democratic party who are not happy with the president. they felt they could have used them here in wisconsin during this battle. they did not understand, for the life of them. they understood the politics but they felt the president should have been here. instead, he was in minnesota three times last week. he could have practically driven to wisconsin.
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there were people in organized labor who were part of this recall effort that say why was he not here for us when we needed him most? they are going to have to find a way to heal any division. >> he gave support through twitter. >> i don't want to say anything bad about twitter, a lot of people use it, and it is a vital media in today's world. but a tweet is one thing. actually showing up to campaign on someone's behalf is something else. >> you touched on organization. organization is something that would be considered -- many considered it something that might be a plus in the democrat side of this race. it shows tonight, and we see the people crammed into the expo tonight, that republicans got out there and organizing of the stun. >> as we look at the map on the screen, you see it is almost entirely red. that is the testimony to organize -- organization skills
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of the public and party. maybe democrats can do this just a little bit better than republicans in the state. republicans will look at it and say boy, we really show how it can be done. i am sure there will be people all over the state and the republican party will be proud of the way that map looks tonight. milwaukee county will be blue at the end of the night. the fact is that is a pretty impressive showing for republicans and the people who organized this campaign. >> you talk about moving the state forward and healing in this division that has happened. governor walker had actually mentioned in his release, he said it was time to put our differences aside and figure out ways we can move wisconsin forward. does this solve in your opinion, does this solve this problem? is going to take time to heal after this. >> it will take time. there are hard feelings clearly. there would've been hard feelings no matter the outcome
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tonight. it will be interesting to see what the governor has to say. i think you will sense that this is a moment to try to bring the state back together and try to say some things that i think will make the state feel a little bit better about the future as we march forward. i think it will be interesting in the next hour to hear from the governor and see what he has to say. >> it is going to start with his speech tonight. i imagine that a lot of people are talking to the governor right now. they are saying okay. what do we do now? do we rally the troops for the next election? or do we talk about healing and future of the state of wisconsin. certainly, a key word we heard throughout this entire election is jobs. jobs jobs. you can imagine that he will definitely be a part of his. >> and you've heard it with optimism tonight. he is very optimistic on what could be accomplished tonight. >> we have had a big change in wisconsin even though we haven't had a change. we have seen so much happen in 17 months
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