so our f-16s are going to wear out in about 2017. we're not going to have a dual capable capability. i think trine is right. regardless what is written in the ddpr, these problems are going to solve themselves in the midterm and we need to start thinking creatively about how we're going to put that to our advantage. >> all right. well, thank you all. we are out of time for this panel. we will be returning to this panel many of these subjects, missile defense, tactical nuclear weapons, nuclear weapons strategy, deeper reductions in u.s./russian arsenals at future events. i want to -- before i ask you to join me in thanking our panelists, i want to invite the next panel to get ready to hop up here, because we're going to resume without a break. so if you do need a break, you're welcome to do so during the course of the next session. but, please, join me in thanking general dirk jamieson, trine

flockhart, and jon wolfsthal. waiting here for today's white house briefing to get under way. press secretary jay carney will be joined today by education secretary artie duncan and richard cordray, head of the consumer protection bureau who will talk about college student aid and transparency. while we wait for that to begin, remarks by maryland governor martin o'malley, chairman of the democratic governors association, the keynote speaker at new hampshire's democratic party convention on saturday. we'll show you as much of his remarks as we can as we wait for the start of today's white house briefing. ♪

good news. you all seem pretty fired up here in new hampshire. yeah jp [ cheers and applause ] it may be rainy and cloudy outside, but it is warm and fired up inside. great to be in new hampshire. >> [ applause ] >> senator, for your very kind introduction and recognition of the pornd and meaningful things the people of my state of doing. doing a great job for the new hampshire democratic part, ray, thank you for doing this important job. new hampshire is critically important to our country this year. [ applause ] i also want to thank first vice chair clark, second vice chair

solomon, it's an honor to join all of you and the granite state democrats, and had occasion to just see backstage your terrific united states senator jeanne shaheen, hoop doing an outstanding job. [ applause ] and, also, i had an occasion to listen to governor januaohn lyn. don't you think y'all have. a great governor these last eight years? [ applause ] john lynch has, has not only -- you know what a great governor he's been for new hampshire. he's one of the great governors that we have in the democratic governors organization, which i have the honor to chair this year. john lynch has done, has been really that person stepping up. he brings people together to get important things done, to create jobs, to improve education, to reduce the costs of health care

and to keep new hampshire streets and neighborhoods safe. to protect the environment of this beautiful, beautiful state, and you all do have a beautiful state. i'm glad to say that i've had the pleasure of going door to door and some very picturesque places here in new hampshire, and, you know, from mt. washington to lake pinasawaki, one can just picture mitt romney driving his family -- up here to one of his many homes, children in the back of the station wa n wagon. dog tied firmly to the roof of the car.

as shame is the dog would attest, "mitt" happens. mitt happens. [ applause ] you know, as governor i don't get to watch much television, but die have to confess, i was sad to see that wonderful reality series, the republican presidential primaries end. weren't you? yes, it was very sad to see it end. that reality show of fear and loathing, and when it came to the end and the final episode, everyone was voted off that island, except governor mitt romney, who managed to stave off and fight off his would-be competitors armed with nothing but his trusty etch-a-sketch pad. and so now we enter another

phase. we enter another phase. and it's a critically important phase for not only new hampshire's future, and whether or not your state will continue to move forward. it's a question about whether our country continue continues to move forward and here in new hampshire you could be the difference in the re-election of president barack obama. you could be those four votes that are the difference. [ applause ] so it's critically important that you get your state house back, critically important that you restore some pragmatism, and some common sense to your executive council. right? [ applause ] and it's critically important that you have a successor to john lynch that will be able to stand up with integrity, with respect for the dignity of every individual, bring the people of

new hampshire together, and move them forward. so, look, in our short time together, i wanted to talk with you about the challenges that you and i, led by our courageous president barack obama, have taken on especially at this time. i'd like to speak with you about the two competing and very different visions that are now struggling for our country's future, and this is being played out in every state house as well, and finally i want to suggest with you how we win in this important electoral choice that all of us as a community have to make. i remember being with you five years ago on this same occasion. a albeit in a gymnasium instead of an auditorium and that time we resolved to move our country forward. forward out of the eight disastrous years of president george w. bush. forward out of eight years of

traded deficits, by the 1% of the 8% for the 1%, forward out of eight years, wages were actually shrinking. the end of the worst job and home losses our country had suffered since the 1930s. that was the reality of our situation. and you know what, my friends? the truth can darn well defend herself. but she needs to be stated. no president, no president, since franklin delano roosevelt inherited a worse economy, bigger job losses or as many wars or as large of a deficit as our president inherited from george w. bush and the bad choices he made on our behalf when he was our president for eight years. [ applause ] so let's start off with a little

audience participation here. let us resolve these for the next seven months, we never, ever say the words -- recession, deficits or job losses without proceeding them with the proper pronoun -- bush. all right? so repeat after me. roman catholics and accustomed to not singing with others, dispend this. repeat after me. bush recession. bush deficits. bush job losses. now, don't you feel better all right? so, look, now when -- when tea party republicans, like kevin myth, kelly ayok, charlie bass,

frank guinta and mitt romney, when these folks say that they want to take us back, i think all of us should rightly ask, back to what? i don't want to go back to those days. the job losses. the deficits, the endless wars. you know, nostalgia is not all it used to be. i don't want to go back there. here's in the granite state, moving forward is a part of who you are. it is in your dna. going back is not in your blood. it's not the new hampshire way. frankly, it's not the maryland way, and it's not the way that america was built. with governor lynch's new hampshire's working initiative, new hampshire chose to move forward not back. with governor lynch's new launching pad, new hampshire chose to move, sing it with me,

forward, not back. with new hampshire, help first, helping small businesses provide health care for their employees, new hampshire chose to move -- forward not back. with public kindergarten for every new hampshire child, new hampshire chose to move -- forward not back. with 30% fewer new hampshire high school kids dropping out of high school, new hampshire chose to -- move forward and not back. and now we have a leader in president barack obama who is making the right and albeit the very difficult choices to lead us forward again as a country. on the road to recovery there will be ups and downs. no -- no worthwhile work is without its ups and downs, but with 27 months in a row of private sector job growth, president obama is moving us forward and not back. with more jobs created last year than in the entire eight-year

presidency of george w. bush, barack obama is moving us -- forward not back. by driving home foreclosures down to a lower level than when he was first sworn into office, barack obama is moving us -- forward and not back. by driving unemployment down to levels that are at their lowest we've seen in three years, president barack obama is moving america -- forward not back. and, yes. the facts are stubborn things, but you know what? sometimes they're also hopeful things. job creation is up. unemployment is down. while we still have a lot more work to do, because of president obama's leadership, general motors is alive and hiring and osama bin laden is not.

[ applause ] >> now -- now, could our nation's jobs recovery, our nation's job recovery be happening faster? sure, it could. sure, it could, but that would require compromise. it would require some pragmatism and it wom require a laser focus on the common good, and those are three concepts that the newly radicalized tea party congress is now entirely incapable of. we have a job creation congress -- excuse me. we have a job creation president, and we have a co

constipation congress. [ applause ] i mean if they thought it would help the recovery speed up, these guys couldn't pass gas. you know? not if they thought that it would help the president speed up our jobs recovery. and now this is the same crowd that finds themselves having to fall back to mitt romney as party's leader. having contorted himself into a press pretzel, to appeases had radical right he tells us his private sector experience at bain capital and public sector experience as governor of the commonwealth of massachusetts qualify him for this office. so let's look at the facts. shall we? at bain capital, where his job was two return profits as quickly as possible to a very narrow few rather than creating long-term jobs for the many. he, driving up debt in some cases bankrupting companies

before oftentimes walking away from these businesses, leaving a trail of lost jobs and economic heartache for many. now, there's nothing illegal about that. there is nothing illegal about that. that is part of this free enterprise system. there are ship builders and there are ship wreckers. there are people who manufacture cars, and there are people who scrap cars. every job, of course, is needed, but as mitt romney's only colleagues at bain capital point the out, our mission was wealth creation. not job creation. they're different things. the second dubious claim, which i think is a claim that he has not been making much even himself, has to do with his experience across your border in the commonwealth of massachusetts. in better, far better economic time, massachusetts out of 50 states in the nation ranked 47th in job creation.

where did massachusetts rank in job creation? >> all: 47th. >> 47th out of 50 states in job creation. and get this, of the few jobs that are created there during those years, six times as many were created in the public sector than were created in the private sector. what's more, in a relatively short period of time, one-term governor romney drove up the largest per capita debt on the backs of the people of massachusetts. contrast that now to the record of our president. last year under barack obama's leadership our nation created more jobs than were created in eight years of the presidency of george w. bush. so you decide which of these two gentlemen actually is the job creator. it's all about choices. it's all about choices. we can move forward, or we can move back.

you've seen what's happened in new hampshire. a lot of buyers remorse right now when some of your neighbors thought they were just expressing frustration, expressing anger, and then they saddled your state with a bunch of people who you wonder why they would ever run for office when the only value they seem to share in common is their desire to dismantle the people's government. elections have consequences. elections have consequences and that better future we seek for all of our children, it is not inevitable. it is a choice. right now there is going on across our country, it's going on here in your state house and in this upcoming election. it's a struggle between two very different visions of a future that our children will share and we see it playing out. our vision. the vision of democratic governors like john lynch. the vision of president obama. it's a fundamentally different vision from what our current day

tea party republican neighbors see for our country's future. you and i believe that an nae g america khomeinied by belief and individuals, we also see an america that is still growing. an america where student expanding, an america that is moving forward, an america that is creating job, creating opportunities, and an america that is growing in every way, including in our understanding of one another, our care for one another, our respect for one another, and an america that is once again strengthening and growing the ranks of an inclusive and more upwardly mobile middle class. that is our vision for our country. [ applause ] >> our vision is not unlike our parents' and our grandparents' vision. it a vision of greater economic security and greater freedom for

the many. it is a vision that says that our best day, still in front of us as a nation. now, what is their vision? their vision is not a vision. i would submit to you that keeps faith with the hard work and sacrifices of our grandparents. is not at vision loyal to the hope of a better life for all of america's children. it is the vision of an america that can no longer afford to grow its middle class, or to send its children to college, or, perhaps, even to send its children-to-t to the doctor. it is an america where jobs and opportunities are shrinking. where wealth is being concentrated. it's an america where women's rights are rolled back. where voting rights are rolled back. where working rights are rolled back. it is america whose best days are behind her, and, folks, this is not something scary tale as you know what they might do, it

is overreaching ideological, right wing tea party republican governors and legislators are already doing in states like florida. states like new jersey, states like wisconsin, ohio, arizona, even in virginia. and across the border in maine, where even babies aren't safe from governor lepage's effort to the repeal the ban on pba and milk bottles. what the hell does any of that have to dolt with creating jobs and safeguarding our children's future? [ applause ] and you've seen it yourself at a time when we should be spurring innovation and research and development, they put anti-choice riders on bills that allow you to create those sorts of jobs and in new hampshire? imagine -- would would new hampshire be without john lynch keeping these guys from overreaching?

[ applause ] where's would new hampshire be? actually, you'd be in maine. that's where -- that's where you would be. in states like new hampshire, the only thing protecting the common good from the radical overreaching tea party republicans like bill o'brien -- has been your democratic governor, elections have consequences, and that's why we need your help. you know, our parents and grandparents, they did not through their hard work and sacrifice and love give to us a car. they gave us a country. this is not a thing to be traded in when the engine knocks or the carburetor gets old. she something to be treasured, loved, strengthened and built up, and it's not about what other countries are doing to us.

it's what we need to do again for ourselves, and so as we search in this election for the good intentions of our neighbors, for common ground and a way forward, perhaps we should ask one another, especially our neighbors, who may have been seduced into this hard right wing approach, we might ask them, how much less do we think would be good for our country? how much less education would be good for our children? how much less public safety? how many fewers college degrees would be good for america's economic competitiveness? how much less research and development? how many hungry american kids can we no longer afford to feed? to create jobs a modern economy requires modern investments. you know what? some of these investments are public investments. investments by all of us for the

benefit of all of us. educating, innovative, rebuilding. that's not a democratic or a republican idea. that's an economic, it's a historic truth, and it's an american truth that was true for our parents, true for our grandparents and it is actually the core truth that has built up our country. the united states of america is the greatest job generating opportunity expanding entity ever created by a free people in the history of civilization. [ applause ] and we have it within our power, we have it within our power to champion free enterprise and expand opportunity at the same time. let us not be the first generation of americans to give our children a lesser quality of life with fewer opportunities and fewer freedoms, because the

better and stronger america that we seek is ahead of us. like the dawn's early light itself it is forward and not back. god bless you, new hampshire, in your important battle. this is the white house briefing room awaiting press secretary jay carney. education secretary artie duncan and richard cordray, head of the consumer protection bureau to

begin their briefing. it's usually in two parts. jay carney will usually yield to secretary duncan and mr. cordray. they'll be talking about college student aid transparency. then mr. kacarney will continue with his briefing. in the meantime, waiting for this to start we'll bring awe portion of today's "wall street journal." our guest this morning, mark zandi, moody analytics, chief economist and talk answer calls for fed action after a weak jobs report issued by the labor department last week. mark zandi, chief economist analytic, thanks for joining us from west k4e69or, pennsylvania. >> good morning. thanks to having me. >> calls for federal action after we all the saw the weak jobs report come out last week, but the fed's main purpose is monetary policy. how does that relate to job growth? >> well, the federal reserve

play as very key role in terms of the broader economy, and job creation. it lowers interest rates in times of difficulty like the current period to make it easier tore people to borrow money. for businesses to borrow money, go out, invest and to hire. takes pressure off people who borrowed lots of money already, debtors, and brings down debt service burden so it makes it easier for them to go out and spend. it's key to businesses hiring people. there's lots of different ways that influences the economy broadly in job creation. they're very important to the job market. >> and what did you read from the jobs report that came out last week and also the economic mood in general right now domestically? why are we at this point where we're talking about the fed's role? >> well, the job market has weakened considerably since the beginning of the year. now, the message in the jobs report we got last friday. just to give awe few numbers. if you go back to december,

january, february, the economy is creating roughly 250,000 jobs per month. in the last three moss, march, april, may, creating closer to 100,000 jobs. still job creation moving forward at a much slower rate. some of that slowdown is technical issues related to weather. the winter was very warm, and that juiced up job growth. so there's some payback. even abstracting from that, it's clear that the job market has slowed. the broader economy slowed. now, lots of reasons for that but i think the most significant one at this point is what's going on in europe, and the problems there are now having an impact on businesses hiring decisions and that's what we're seeing in the data. so this, met with the economy slowing, as dramatically as it has, and obviously given a very high unemployment rate. 8.2% is just too high. the federal reserve is the one actor that could potentially make a difference soon, and that's why we're talking about

additional fed action, additional mon easings to get the economy moving at a faster rate. >> look at the recent economic figures. unemployment, 8.2% in nmay's in jobs created in april, 77,000. unemployment insurance initial claim, 383,000 pnd gdp, 1.9% for january to march. mark zandi, what's the biggest factor when we look at the economy is it even football say whatsay -- possible to say what's happening, job number, when federal reserve looks at what the big bellwethers are what are they most looking at? >> well, at the top line level, the things they care about the most, is inflation. you know what is the rate of inflation? that's the thing there is the most coal over akolelcoa contro.

focused on making sure inflation is about 2%. they want that to be a rock solid 2%. not higher. not lower. with regard to unemployment, not as explicit but probably want an unemployment rate closer to 5.5%. that's a long way away p. that's at the top line. what they're looking at and trying to determine what's going to affect unemployment, there are lots of things going on. the thing playing the biggest role at the moment, doing most damage is what is in fact happening in europe. reveberrate ago cross the globe. hurting emerging economies like china and all that is coming back on us. that's the thing that i think got government officials most worry and rightly so. >> recent story from the hill. weak may jobs rt