>> do you have another question? >> yeah, let's take one here. >> you talk about the guarantee programs, i'm interested because i'm an analyst here at the percentage foundation, you have republicans supporting them because if they benefit from the programs, they will support it, they will pretends the money fell from the sky and say it created jobs in their district. while the scandal and everything is interesting, how do we get to both democrats and republicans that this program is misguided and it's a waste of taxpayer money. >> that is the point, we should have never started down the road, it's unfortunately not just the energy program, it was tarp, it was auto bailouts and on and on. never start down this road. and the simple point is, what

artur said, we don't have the money, we cannot do it. it's not sustainable, it's not productive. capital, it actually hurts other green energy companies because they cannot get private capitol, you have to have a stamp of approval to get private daughters. battle across the board, that is why you have to stop it. it doesn't work, you have to stop it. >> thanks for joining us. >> thank you. [ applause ] >> jenny beth will offer a few comments in a moment, i wanted to play for you a new video on the energy front, nick who asked that last question traveled with north dakota recently to interview some folks to see the economic boom that they are experiencing, so, if we could cue that up and johnnie, did you

want to say anything? >> yeah, just real quick. i think this video speaks for itself, really talks to the hope that exists when the government is not tanding in the way of private markets and you know, hard work and individuals, so, without further adou we will let you watch it and share it with your networks and tweet@ier energy. thanks. >>. ♪ ♪ >> where else in the country can you find a good paying job? you have to work hard, they are not easy jobs, and you work hard and put in a lot of hours, you get caught up in paying off debts and starting over in life? >> we did not have to file

bankruptcy. this is the american way, you know, if you put your boots on, you go to work and you do it and you provide and there's a lot of people doing just that. >> i'm from new port beach, california and came up here with my daughter to north dakota to open a restaurant. we saw the opportunity for both of us to come here and make something of it that really back in california the opportunity would not have been such. >> in the '90s, people did not coming here, you graduated high school and wanted to get us on of here as fast as you can, because there was no opportunity. more young locals are moving back to the area, because the opportunities are here. >> so many people have moved here in the recent pass that a lot of construction is going on. it's when you build homes for four people, six people come. >> i was listening to the radio today and they said if there's a baseball game, maybe in the first inning, maybe going into the second inning as far as this growth out here goes, because of

the recent boom, i think it's all technology. you know, they have always known there but they never could capture the oil from the formation. >> i'm a geoligist, i live in a farm on the northeast of town and been in north dakota for 43 years, some people refer to this as an oreo cookie, you have layers of black rock and shale and you look at the rock, it's hard. it's dense, it's tight. but by drilling, two miles sideways, that is the horizontal component, and fracturing the rock, which means cracking it, you draw the oil out of the entire system. >> the thing we worry about is the federal government and regulations, particularly the environment. we are concerned that the federal government would look at

it and say, we are really not sure, let's put a moratorium on the study, that would be devastating. >> from a science standpoint i know that we are safe, people ask me am i a environmentalist and yes, i'm a farmer. i want good safe drinking water here. i think that the country can learn by what north dakota has done. >> that is why we tell congress, you guys need to come see this, and come and talk to the people and see what kind of people are here, and see what made this country as great as it is, it's hard work and blue collar people, not the say that we need politicians. but they are not what made this country great. it's people on the ground that made this country great and north dakota is full of them. >> so we hope that communicates both the process of fracking and the great things that are happening there, and as johnnie said, please share it, it's on the foundry, we have been tweeting about it today, it's about been great to work on that

project. concluding things today is our good friend, jenny beth martin, she is the cofounder of tea-party patriots, she has been someone active and involved in the tea party movement right from the start. first inspired by rick santelli and then organized a rally in georgia in which she brought together people and has been a champion for the values that we care about so dearly in heritage. >> thank you to you. >> okay, so while many in congress were not asking about the constitutionality of obama care, people around the country were. and we have maintained that the law is unconstitutional, especially the individual mandate, and when we have seen from polling that 80% of americans think the individual mandate is unconstitutional, clearly the people in the tea party movement and the people in the room are making a difference

and we are bringing our attention as a nation back to our founding document. to the constitution. and that is what we are doing at tea party patriots, our core values have remained the same since we started. fiscal responsibility. constitutionally limited government and free markets. we are working this year to make sure that we create a mandate for the core values. so, if what congressman jordan eluded to happens in november and voters vote for republicans to maintain control of the house, and republicans to control the senate and the white house, we don't go back to what happened in the early 2 thousands, what happened then when republicans were in control of everything, spending went out of control and we strayed from our cons ttusion. we want to have a mandate that

balances the budget and does snot raise taxes. and a fuel repeal of obama-care and a mandate to roll back the regulations so that free markets can work. our country has created tremendous things against tremendous odds from the birth of our country, to defeating nazism, putting man on the moon, defeating communi is sm and the cold war, our free market has created the light bulb and -- google. we can balance our budget and restore our economy and make sure that government gets out of the way so that free markets work again. thank you.

>> if anyone has any announcements feel free to make them now. anyone? >> yeah. >> yeah, i want to yield to ashley from the campaign for limited government. >> hi, everyone, i'm ashley from the campaign for limited government and i want to invite all of you to a happy hour tomorrow. thank you. it's at 6:00 by south capital metro stop. the campaign for limited government, what we aim to do is hold the government as responsible. our first project is to have the states propose or have states force government for a balanced budget amendment and going to the gop -- inaudible. >> anybody else? okay. well, see you next week. great.

>> do you know kay carl? k-carl. wrel be showing you -- we will be showing you two events on friday about military veterans, at 9:00 a.m. eastern time, live coverage on c-span2 and here on c-span3, the pentagon and veterans affairs have a conference on preventing suicide for veterans. live coverage begins at 8:00 a.m. eastern. this weekend on american history

tv, harvard professor john stoffer on the civil war and the move to end slavery. >> one of the interesting facts is that when lincoln gives the inaugural, the self described abolitionists are a tiny minority and they are still hated. what transforms them into respected critics of the american scene is fort sumtner. >> also this weekend, more from our serious on key political figures who ran for president and lost, but changed political history. the contenders and a look at eugene debs. florida congressman allen west

and other leaders held a forum to discuss ways to help african americans in the entrepreneurial world. black unemployment remains at almost 14%, double that of whites. this is just over two hours. well, the -- our last two individuals have arrived, mr. charles payne and dr. art laugher and i guess after this, i'm going to have to talk to them a little bit about how we run things in the military. okay, when you come in late to a briefing with the general, it's not a good thing. that whole personal responsibility thing, huh? well good, it's a pleasure to have each and every one of you here, dr. laffer, we have the

spot for you right next to mr. johnson. everyone knows i'm congressman allen west from florida's congressional district 22. thank you. and we will get right to the meat of why we are here because i think this is a critical topic that we have to talk about. and i got this little book here that every now and then i go back and read, and it's call rediscovering black conservatism, it was published in 2009, and written by lee h walker. over the past 30 years, billions of dollars have been poured into black communities across the country in hope of curing a host of well-documented social economic problems, including failing schools and inadequate housing, crime and drug abuse, black on black killings, unemployment and more. despite the efforts of many local institutions agencies and

school leaders, grass root organizations and community residents, the problems remain. in many instances, these problems have grown worse. i believe it will take new ideas and new voices to find solutions. and that is exactly why we are here today. we are here today to talk about economic freedom as opposed to economic dependancy, we are here to talk about four basic conservative principals and how they can apply to economic revitalization for the black community, that is limited government that is fiscally responsible, that is individual industrialism that leads to self sufficiency, it's the free market that grows businesses and develops businesses, and lastly and most importantly, it's about quality of opportunity that comes from a good education. these statistics i want to share with you are the main reason we are today, unemployment in the black community is 14%, if you

understand actual unemployment, it's closer to 18%, twe20%, the highest for the black community was 16%, black teen unemployment is the highest since the depression, median household income is $35,000. you know about the federal reserve survey that came out talking about the decrease in median wealth income, 45%. food stamps up 45%, the black community is at 22%. 32% of blacks li s live below poverty level. incarceration, 48% in the system are black. this is the most telling and why we have this incredible panel led by an incredible general, gentleman. see i promoted you even though

you were late. entrepreneurship, the census in 2010, put the percent of population, these are the numbers. 2011, for new start ups. 60% new start ups in the white community, 23% new start ups in hispanic community, 5% new start ups in the asian community, and with 13% of the population, you are only seeing 9% of new start ups coming out of the black community. we have to talk about the free market urban economic revitalization, i can think of no one better to moderate the panel than the gentleman we see on fox business news, charles payne. [ applause ] >> thank you everyone, thank you very much. congressman west, when you have the panel on amtrak, i like to

be a part of too. you know, it's a good thing i'm on tv now, this is like 12 years ago, i would have been here an hour early, i would have been a conductor. this is a very series topic obviously. i'm -- serious topic obviously. some of you know me from fox news and business, i owned my own business, i started it out of a one-bedroom apartment, a stock market firm called wall street strategies, i participated as a broker and raised money for a whole lot of different businesses over the years, through the ipo process and reverse take over process. i visited my old neighborhood yesterday in harlem and i have to tell you, it was nice to see all the old friends but it was also very scary. it seemed like time had stopped and progress -- there is no real true progress that i can see being made. so, there was a lot of work to

be done. that is why this is so important. i'm not going to demote anyone. i just -- you know, the pot calling the kettle. everyone knows colonol west, beautiful counties along side south florida's coast line, born and raised in the same neighborhood as doctor martin luther king was born. it was preached that he set up close and has seen up close the devastating effects of failed government policies as several of us in this room can have on anyone particularly black neighbors. after serving 22 years in the army, west retired and brought his wife angela and two daughters to south florida to be closer to his wife's family.

the proud conservative and american patriot with the encouragement of friends and neighbors, he decided to make a bid for congress. i don't know if you saw the famous youtube video with colonol west, if you have not seen it, go on youtube and take a look at it. with the purely grassroots approach, launched him from being an unknown to raising the second highest amount of money for congressional candidate in the entire country. that is how powerful that was, yeah. absolutely. [ applause ] >> and the great thing is that almost all the nations pouring in -- all the donations pouring in were from individual donors. robert l johnson, founder and chairman, rlj companies, founder

of black entertainment television, and robert l johnson, he is the founder and chairman of the rlj companys, his business network, provides strategic investments in diverse port follow portfolios companies, he has all kinds of of services. sports and entertainment, auto dealerships, and video lottery gaming and anything you need before the day is over, he will provide it for you at the right price. now prior to forming rlj companies he was the founder and chairman of black entertainment television and of course, we know b.e.t.providing sports and information for the african american community. it was the first african american owned company traded on the new york stock exchange, he sold it to viacom for 3 billion

dollars, give or take a few dollars here or there and remained the chief executive officer through 2006, in 2007, he was named u.s. today's one of the 25 most inluential business leaders in 25 years. that was an amazing accomplishment. robert l johnson everyone [ applause ] >> thanks charles, for that introduction, and you forgot to tell everyone to go to the stock exchange and buy my hotel stock. rlj lodging trusts. thank you for this invitation, i'm delighted to be here as a guest of congressman west, congressman west, i am proud to say i'm a voter in his distract.

even though i did not vote for him. i say that because -- everyone knows i'm a democrat and been a democrat all my life. the one thing that i find most important about the fact that congressman west is speaking out as voice on african american issues, because i want to quote something john connors here when he said that the congressional black caucus was formed, he said that we should approach politics with no permanent friends or associations, but with permanent priorities. we should think of having permanent interests. and i'm delighted to work with adam on a number of issues that he and i see absolutely eye to

eye, while we may disagree on the r and the d, we disagree on the need for the economic empowerment of african americans. i have since gone on to create the rlj companies to create a number of successful businesses. and i say all of that to say, that it's not necessarily because i'm the smart estimate kid on the block in terms of opportunity, it's because of one fact, that i had early on when i started black entertainment television, i had access to capital. if you can provide, i believe this. more access to capital. to african americans, charles would be talking about a number of people like myself who have been successful. so as an entrepreneur, i know first hand the challenge minority entrepreneurs face. i know the talent, dedication

and determination that minority entrepreneurs possess, and the desire for them to be a part of and a contributor to the american dream. for many years i have been vocal about the state of black wealth and the daunting challenges that minority business owners face and as a result of that the entire back community, using a term that most of you in business would understand, i'm afraid unless there are realistic changes made for black america, black america as an economic entity is not a going concern. it's debt is out stripping its resources. and therefore it will be more dependent on transfer payments. that is a definition of a nongoing concern. and our question, the lack of access to capital and capital formation is the principal factors for minority businesses

and as a consequence, wealth creation within the black community. a wave of troubling economic statistics continue to escalate and further make worse the growing wealth gap that is directly impacting african american families which i have called a wealth gap tsunami. consider these facts from that tsuna tsunami. the wealth gap between white and african american families has quadrupeled for the families. the gap increased by $75,000, from $20,000 to 95,000 dollars. the median welths of white households is 20 times that of black households and at least 35% of african americans have no net assets. study stated for every dollar of white per capita income, blacks had 55 cents, at this pace it

would take african americans 581 years to get the remaining 43 cents and achieve income pairity with whites. since the burst of the housing market bubble and the recession that followed, plummeting house values were the principal cause of the lost in wealth. the housing downturn has had a strong impact on the net worth of all americans but particularly african americans. as a result of the declines, the net worth of black households fell in 2005 to 5, $677, a decline of 53%, compare that to the income of a typical white household which is $113,000. the nation's economy and economy have major structural

challenges. the likes of which we have not seen since the great depression and they will only serve to magnify the growing wealth disparity unless the harsh reality is addressed. the facts point out that middle income whites have far more wealth than even some high income african americans. equally disturbing as the congressman pointed out, education success achieved by many african americans has not led to racial welths equalth qu. we must increase access to capital. african americans fall way behind to access to indome and capital. the rate for african americans is close to double the white rate for unemployment. this is something that you must understand, throughout my entire life, the african american

employment rate has always been double that of whites. ask me under what circumstances would any nation tolerate a generation of 16% to 17% of unemployment for any population? we are today arguing over an 8.2% unemployment rate for the entire country. black america has consistently had an unemployment rate doublidouble that of white americans. those who in society are generating wealth as a result are beginning to look askanse at supporting those who they deem to be nonproductive. ie that big population of unemployed america. you have one group opposing payments in a group of entitlements and another group

arguing that we have to protect entitlements. that is the nature of the debate that will be played out in the 2012 election, adding to this growing political conflict is the fact that the minority population, blacks and hispanic, receiving transfer payments in the opinions of most people also seem to be the fastest growing demographic. the group is feeling that they are financially squeezed because they believe they are transferring money to a nonproductive growing class of people. this is a prescription for the kind of political fighting that is taking place in the usa today. republicans are saying no new taxes. democrats are saying ining weu