labor becomes essential. i do not see how 1 million policy issues around how you do this. i do not see how anyone can look at the wholesale construction jobs, the number working in construction, the state of our infrastructure in many spheres and not think that something ought to be done to increase the extent of our national effort to run a public investment, which as benefits to the supply side of the economy. .

>> the real issue is immigration, more immigrants not less. that may be counter intuitive to some people but you will only have jobs if people start businesses. who wants to start a business?

the experience of immigrants that come to our country is that they worked very hard, they are very entrepreneurial, and they regress ports being the average. that is the history of immigration. that is why our country has been so great is we have always had these waves of immigrants from around the world would come here and added to our culture and our cuisine and a religion and our language but they were the catalyst for new businesses. people have done a study of all the great businesses in this country. the percentage formed by people who had a green card became citizens is quite dramatic. if i were the administration, i would try to convince congress to give a green card to anybody who wanted to come here, start a business, and keep a green card as long as you have 10 or more employees. that is the practical effect. this would start businesses. it would do it relatively

quickly. it would be virtually 0 expense for the federal government. the second thing that is different -- larry talked about technology -- the percentage men who are unemployed, part of that is in some senses good because the reason i think for it is the opportunities for women to enter the work force and how they have taken advantage of it. if you look at universities and high schools, it started be women, women, women, graduating more and more. it is a time bomb for the society that we have a big group of men who are dropping out but it is partially because women who did not participate in the work force other bed nursing and teaching of those professions are hurting because more women want to go into them but all these other companies, it is the women who are coming in. you say a handful of big corporations in america run by

women. 10 years from now, you will see more. they are working their way up through the latter and getting the experience and demonstrating that they know what to do. there is a fundamental thing of we don't have people starting businesses, we don't educate our kids well enough. if you want to go to work for the sanitation department in new york city, you have to have a high-school diploma or a ged. that is to drive a truck and keep our streets clean. you have to have a high-school diploma or a ged. think of the number of kits to drop out of high-school around the country. they could not get jobs and our sanitation department. that is because the technology is greater all the time and we want people who have shown that they have the drive and the self discipline to get through school and the maturity that going for school gives you. otherwise, we cannot provide as good a service as we want. is the education system failing us?

i happen to think president obama's legacy will be how well he reforms education. he has the right people. how will he convinced his country -- how will he convinced this country that you can't get it away of education. your views and who should be teaching and do we want to protect certain groups of teachers. we have to have the best and brightest. you have to fix immigration and education. the economy with tongue will get better. we have to make sure we do not heard it. you have to understand that technology will always make people more productive. you can go back to win the steam engine came in. you can go back to when

electricity can enter there will always be disruptive technologies we will destroy the work force. in fact, we managed to work our way through it and come out stronger on the other end. we need to have more skills and opportunities. incidently, the center is happening around the world. you are not the only ones with these problems. ÷the middle jobs and service jos that are being automated or not in demand. if you take a look, you have the jobs at the entry level where you have to work a restaurant. those kinds of jobs, picking apples, there is nothing wrong with these jobs. that is the way our ancestors started working on a push cart or whatever. the entry level stuff, those jobs like tourism in new york

city, we were free part because it creates those kind of jobs. at the other end, you have the high-paying jobs where you can measure performance or somebody else does. i will get off my high horse and a second. people ryle against big bonuses and high salaries for some people and say it is not fair. no company pays compensation higher because they want to be nice guys. you do not even pay your compensation based on how much people contribute. you pay your compensation based on what it means in a competitive market to get the people you want and keep them and then, if the cost is too high compared to the value added, you go out of business. people always think the companies look at the costs of their products and set the price higher. no, you set the price based on what the market will bear and you try to find a way to have your expenses be lower than that.

>> do you want to speak to what the mayor said? >> he talked about immigration and i thought to my self that it would be best for me to stay away from that topic. [laughter] >> i had exactly the same response the pit. >> he went into opportunities for women next. [laughter] i thought it might be safe not to say anything. [laughter] >> you can go to capital markets. go ahead. >> let me say two things. i think the mayor's emphasis on education as what is ultimately

and most profoundly important, i think you can put enough -- you can't put enough emphasis on that. there are many troubling statistics that people throw around. we still have the largest share of our population -- anbar work force that has graduated from college of any country. we are now out of the top-10 in the fraction of those between 25 and 35 who have graduated from college which means things are headed very much in the wrong direction. that is about the provision of opportunity. i studied this when i was at harvard. the way of oversimplifying it, the dumbest rich kids are far more likely to go to college

than even the smartest poor kids. we have a major problem already will opportunity. that is probably the thing the president has done that has gone the least attention relative to how important it is in terms of very substantial increases in pay pell program. we set a goal of reversing that college gap by 2020. that is hugely important. i related everything you said mike, -- i think i would have a less philosophical view of the current financial crisis as just another up/down cycle. this was a most -- much closer brush with armageddon that we typically see every few years.

this financial crisis was by some counts the seventh in a generation where millions of people have lost their jobs because of a financial system that was supposed to manage and distribute risk but ended up creating a risk. i totally agree with your admonitions about preserving the flow of capital, i agree about the importance of preserving meritocracy and competition in pimmipayments but i think these events force some fundamental reflection on the relationship between a financial system that has grown massively as an absorber of talent and the

broader economy. larry katz has done service and i do not remember the precise data of the percentage of harvard graduates to find them sells -- who find themselves in a particular job. that was highly related to the compensation. i am not sure the total benefit to the broader society means that was entirely a step toward greater economic efficiency. >> let me point out that my alma maters specialized in madison. -- in medicine. speak to financial reform. >> i got a call from the head of a few banks who said they were not sure they could open on

monday. they asked what they would do. i'd think lowry and tim and hank paulson and a bunch of people here and you could second-guess some of the things they did. that sunday morning, things did not know how things would turn out. they had to make big decisions. you have to err on the side of trying to throw as many things at the problem as you can and hopefully one of them will work. i think history will show that they got this country for a very difficult time. my perception of all of this financial crisis is -- i don't mean to make light of the people lost their jobs or houses -- it is tragic but why did we get into this situation? i would blame everybody. we all wanted more credit,

easier credit, we were out there encouraging home ownership as a social policy, which happen to agree with and incidentally, 90% of the people who got their homes without the expanded programs still have their hamas. no matter how tragic the 10% is, i think history will show it was a good thing for america to encourage homeownership and make the opportunity available to many people who were starting up the ladder who would not otherwise have gotten there. congress certainly was behind it and you can see that with fannie mae and freddie mac. the banks make their money that way. the construction industry wanted it. pension funds were getting money and our ira's was going up. one day, you are never sure what will trigger the downturn for in this case, i think it was -- the covenant think of a life-

insurance company. they are built on the fundamental belief that not everybody will die at the same time. in fact, if everybody dies at the same time, life insurance companies could have been argued to be an outrageous speculation. that is a risk we understand. it very seldom happens. to some extent, did not the only put went wrong because clearly, you had companies like a ig whose palace she was too risky. -- whose balance sheet is too risky. all the sudden, you have an awful lot more people default on their mortgages than anybody thought was possible. that is why you have vote rating companies reached a security triple-a and all the sudden, it's worthless. there was a fundamental assumption that most people would keep their mortgages and

there would be a handful that would default and you work your way through those and you sell more and your profit get diminished a little bit. that is that business. all of a sudden, we changed the idea and said the insurance company that we now have is the government. does the government's job if it is ytoo big to fail. one thing that worries me is that more than just wall street, a want to make sure -- i want to make sure we are taking a look at other industries. why did the automobile industry get in trouble? we had forced cafe standards from 1975-1985 where we improved mileage dramatically and stopped. all the sudden, they woke up one

day and found another group of companies that could beat them. if the government had stayed away and not protected them or force them to be better, either one of salt that problem. -- either one would have solved the problem. >> the key note of this particular day has been jobs and job creations. . the problems lie. hell long it will it take if we are in an economic recovery to get -- how long will it take if we are in an economic recovery to get back to normal job growth. ? >> the pace where we get back to full employment will depend on two things fundamentally. it will depend on the pace of economic recovery. in terms of gdp and it will

depend the uncertainty that i referred to earlier about the relationship between gdp and on the planet. -- and unemployment. you take the growth rate, subtract 2.5,/two, that is the change in the unemployment rate. if the growth rate is 4.5 for one year, 4.5 -2.5 is too, and you have reduced the on a plan rate for one year. you reduce the employer rate by one percentage point. make your judgment about the gdp forecast over the next several years, take your guest about whether the formula will snap back for continue to be off, and

you can form a of view about movements in the unemployment rate. what is safe to say is that even optimistic assumptions, there is going to be substantial unused capacity of the economy as measured by the unemployment rate, measured by the fraction of factories that are in use, measured by the paucity of vacancies available to unemployed workers, measured by the level of income relative to trends. by any measure you use, the economy will be short of its potential and is going to be constrained by demand more than by supply for the next several years. i emphasize that point because there is a tendency to gravitate

very quickly to measures that focus on the supply side. in the long run, that is ultimately the only thing that is important and matters. in the short run, it is a great deal about demand and one has to be careful about thinking about things that will increase the supply but not move demand. that is why many of us feel that we need to pivot and focus on long one problems, as we do that, we need and the administration has to maintain an awareness that a large number of teachers who are the investment in the education strategy in the future are going to be laid off within the next six months if nothing is done. the agenda of driving this and preventing armageddon, we spent

a lot of progress -- we middle of progress on that agenda. a strong and robust recovery is not yet complete. >> do we need another stimulus? [laughter] >> i don't think for any of the way is necessary. do we need to provide support for state and local governments to maintain and prevent large- scale layoffs of teachers, yes? other investments that can be made in energy efficiency that would be terrific investments measured by a great return even if there was no recession and create jobs? yes. is this the moment for some major new experiment? absolutely no. >> think about new york city and

terms of austerity and revenues and teachers. the about the restrictions you have in terms of what you can do. >> about three or four years ago, we thought the economy could not continue and the market could not continue the way they were going. you're thinking about no interest, no coven of loans, there is something wrong with that. there is no free lunch. we started seven separate programs called the programs to eliminate the budget gap. we did cutbacks in expenses and looking for ways to enhance revenues. we cut about $4 billion out of our budget. we repaid a few billion dollars in interest and put $3 billion

away in a fund to start funding the liabilities for retirees, health care, and to try to make the city government more efficient. we combined some small agencies. we are trying to make the city government more business friendly so people can start opening businesses more quickly. the result of all that is the city itself, the city budget is balanced. my official budget comes out in another week and gets adopted by the end of june. our problem is, we live in a state where we send a lot of money up to albany. we get a little bit of a back. we expect them to say thank you. they want to cut back dramatically the amount of money they sent back to us because they want to use the money elsewhere in the state to influence, i think, in the

political reality. the federal government sends money is to the states and the states never get to the cities. i talked to the mayor of seattle and she said they never got the money from the stimulus. the monies that go to the states do i get to the population centers which are the future of this country. when the state cut back the amount of money basin back to this which they will do, it makes -- it puts us in a very difficult situation of having to make choices. the governor's budget requires laying off 20,000 employees. we will not have to do that public -- but we will have to make some tough choices. we have a situation where government employees were getting paid more.

it is an untenable situation but it is difficult to address because we are very dependent on our government employees. we have 3000 employees in the york's city and they provide the best services than anyplace else. that is why the city works. we cannot have -- we cannot afford all of them. in our uniformed services, the benefits are equal to 100% of their cellars. is a situation where it is very generous. in every city in the country, every mayor is trying to address the problem. in new york, we did not have the big downturn in real estate because we do not have a lot of second homes and a lot of speculative homes being built. we never experienced a destruction of the construction industry that occurred in the

south and west. we have a construction industry that has problems but compared to the rest of the country, negligible. people make fun of the cultural things we do like the gates and waterfalls. we have become the place to go to see what is edgy. our tourism business is down only 2% or 3% and is down double digits and every other city. we have more people working in tourism than ever in history. this is in the middle of a worldwide downturn. if the dollar strengthening, that is not hurting our situation. we have worked hard to bring film and television from the west coast for canada. that brings in billions of dollars worth of revenue and employees. we have worked hard to bring it.

google has a few thousand people and microsoft has a few thousand people. men the of these companies are growing in manhattan. -- many of these companies are growing in manhattan. in all five boroughs, we are trying to make -- what the best and brightest to live there and companies have to come. other places have a strategy of buying jobs. they pay lares company to come to their city. -- they pay larry's company to come to their city. we have had some help from washington like on the finance bill. our delegation could never do enough for us but senator schumer has worked very hard. michael mcmann is another who

has worked hard from the beginning. our problem is not the federal government. we have to make new york city be the reason people want to come there and stay there. >> one thing you said about job creation is that when you start talking about the financial community, you were talking about jobs in new york city. >> we are talking about police, fire, teachers, we pay them from the taxes that the finance industry generates them what is the difference between you and larry with respect to federal regulatory reform making its way through the senate? second question, if the bill that is making its way through the senate was in place, would we have avoided the economic recession we face? >> i think the measures that are

contained in the christopher dodd bill would vary substantially have reduced the factors that came together to produce the crisis. if you as we are going to pass a law that will abolish this breast, the answer is no. if you ask if we have done things in this country that have reduced the incidence of plane crashes by a factor of seven over 60 years, and reduce automobile fatalities by a factor of four or five and can be substantially reduce financial risk, the answer is yes. i believe this bill does that. how does it do it? the perception of too big to fail and quasi-government guarantees should be fuelled by the absence of any procedure for resolving other large financial

institution that is not a bank. literally an un contemplated possibility. this bill addresses that situation. the ability to seduce people into misguided financial products that promote risk for them and thereby promotes risk for the system is surely attenuated by having a regulator whose criteria for success is how consumers do rather than the profitability of capital of financial institutions. that is the consumer financial regulator. no one can look at what happened in the credit defaults swaps market during the last decade. the volumes of risk that were being taken incompletely non- transparent ways and believe that that was prudent.

the use of exchanges and clearing houses like we do for stocks for a very long time, like we do for a large fraction of commodity trading is a proven technique for reducing financial risk by pooling liability and risk and making lost much less likely. this bill provides that possibility as well. it can't be responsible in a society to have more financial institutions with no one taking any responsibility for their comprehensive regulation. yet, that was true with aig under the rules we had previously. that is fixed. those mandates coupled with what was clearly imperative, international cooperation, to

ensure that these enhanced authorities are used to provide more capital and much less leverage i believe offer very substantial reduction in the risk of financial accidents. by the way, this is not something that does not happen in human society. if you look at the experience in canada and the experience of the united states between 1950 and 1980, there are places where the risk of financial accidents was substantially lower that is what we need to drive toward in creating a system and that is what this bill tries to do. >> you have no problem with the

bill as you describe it. >> i think we need a bill. i think the consumer protection part is right on. consumer protection probably have to be an education rather than in restrictions. when you try to restrict what people do, you run into lots of problems. you would be better off to explain to them why it would not be in their interest. i couldn't agree more with the disclosure part. if everybody knew what aig had on their books, the market would feel more confident. lowry mentioned globalization. you cannot have regulation that is inconsistent with what exists overseas. companies will either of move overseas or their competitors overseas will take their business away.

we are naive as to how you separate derivatives from these other markets. none of these markets could exist -- could have existed without derivatives. this is another way of swapping rest back and forth which will help them survive capital for other things. the other problem we have is that we have regulation in this country for different industries. when those industries are in the same business, we don't have a business regulator, we have an industry regulator. an insurance company, a commercial bank, they may be doing the same things but they have different regulations.

you cannot let companies shop for regulation. you have to have something consistent. the problem is the industry is the way we have structured this as to what they do. the industry never used to do the same thing. as they have changed, the regulators have been unwilling to give up their regulatory authority to a different regulatory authority or combine. from a political point of view, that is what -- where they get their ability to influence the dialogue. >> i will say something unfair. mike and i basically agree on much more than we disagree on. if you study the history of regulation from food safety to airplane crashes, it is always the same at some level. and that stuff happens plan "a"

is to form a committee and said it would happen to and come back. if that is insufficient, plan "b" is to pursue better practices voluntarily the. that is insufficient, plan "c" is to have transparency. plan "d" is to do something. [laughter] that is large and substantial. take the consumer area. we actually don't have a policy based on transparency. you can sell baby sees that are safe for babies but you cannot sell ones that look good and are on safe.

unsafe. i don't understand how you can sell credit cards with interest rates that jump up to 33% on conditions that are at the discretion of the issuer with no notification to the purchaser just because there is 20 pages of small print where you could have seen that would happen to you. i think some regulation goes to the content of a product which is a good idea to protect people like we do in every other area of. >> larry and i agree on more things than we disagree on. [laughter] i defend his right to be wrong. we have been transferred awful long time -- we have been friends for an awfully long

time. there is a law that prevents you from smoking in a public place because someone else read your smart. if you go outside and a field and smoke and if you want to kill yourself, i don't think the government's response is to prohibit you from smoking. we have tried certain things with the public. there is a great article in "" the atlantic " month about prohibition. one guy convince everybody about something that was not favorable. a small group change this country and in one year passed a constitutional amendment. i am not opposed to prohibiting people from doing some things

that we decide what is right for them. it is a very slippery slope and you go to pay debt lenders -- my girlfriend is the chairman of the board of a nonprofit. the micro loan interest rate is off the chart. i think nobody should charge 37% but what about 27 or 17, where do you draw the line? if you want to act stupidly, some people will like stupidly. >> now we agree that there should be regulation and it should go beyond transparency and we can also agree completely that it should be rational regulation. in a whole variety of these areas you can have unintended consequences. >> let's move on, sorry. [laughter] by the way, does the deficit

commission respond to your comments about how we deal with society? [laughter] >> that was good. charlie, that was a brilliant question. [laughter] you are not often that a lot -- i am not often that a loss for words. >> who is in charge of time? i have three minutes? i want to pose the cosmic big question. we talk about jobs and would look to the disparities in terms of the demographics and in terms of the long term. in terms of american competitiveness and round the world -- a around the world, where are we thinking that is out of the box where we ought to be thinking.

where do we get our hands on things that will change and otherwise be a disastrous and polarizing of thing? >> this is a simple way of thinking about it. there is no god-given right that says in a world where a vast number of things that other places should be 10 times as rich as others. if you want to be richer, there has to be a reason. that reason has to be that there is something about you that is not present everywhere else. what does that go to?

it goes to that most americans will not emigrate. it goes to the quality of the education they received which is why put such emphasis on that is important. it goes to the power of the collective. there's probably nobody so talented functioning individually that someone somewhere else functioning that same way will never be found. whether it is a huge closer represented by new york city or a smaller one represented by silicon valley or the still smaller crop cluster represented by harvard or the still smaller cluster represented by bell labs, those are more difficult

to replicate. figuring out how to invest in these non-replicable clusters will be central to prosperity and that goes to the educational issues, it goes to the issues around innovation, it goes to supporting our cities. those are brought elements that we will have to consider as we consider how to compete. >> the less-developed areas, could be of america could be parts of other countries, they have an opportunity to leapfrog what has taken everybody else a long time. the ultimate example is the cell

phone. the smallest cell phone has more computert:÷ capacity than y computer in the early 1960's. in africa, every second person has a cell phone pa. they have and the palm of their hand, the ability to communicate, get educated, get entertained, to do commerce, and we are just ready to get there but it is mind-boggling. look at the technology of an eye patch. that was inconceivable 10 years ago. -- look of the technology of an ipad. countries will be able to leapfrog everything else. there is the sense that the old world met its people have is the concentration. ever because there because people are there.

you go to new york because it is crowded. there are these changes that are dramatic and i think the percentage of our work force, college educated higher than anywhere else, but in the younger group not. one thing that gives me comfort and should give this comfort -- this country great pause to think is that the percentage of people living in new york city that college-educated is going up. that is because of emigrants. people think that immigrants come here without education. an awful lot of them have the best education. they come here and they kill for a green card if they can get it. we are developing drugs in india. we are developing technology in other places because people can't get here.

we give people the greatest higher education system and the world. people tell you that china graduates 25 engineers per minute. they might just be a gas station attendants. we have something and have a chance to lose it and the way to fix it is public education and immigration and everything is so far down the list. >> so that is your message. on that note, thank you very much for coming michael bloomberg and a lowry summers. [applause] >> charlie, that was great. >> thank you.

[captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2010] >> tonight, almost 3000 journalists, politicians, and celebrities will gather at the washington hilton for the national correspondent association dinner. this includes remarks by president obama and jay leno. that is what started it 8:00 p.m. eastern on c-span. president obama says the gdp growth in the first quarter is evidence that his administration's efforts to shore up the economy are working. he talks about the gulf of mexico oil spill. this is about 10 minutes.

>> i am ensuring that we do everything necessary to respond to this event. i expect reports from the ground today. bp is ultimately responsible under the law to pay the cost of response and cleanup. we are fully prepared to meet our responsibilities to and the and all communities. we have been working closely

with state and local authorities since the day of the explosion. there are now five staging areas to protect the shoreline spread ines. we also laid approximately 217,000 feet of protective barriers. i have asked secretary salazar to report on any progress and what should be provided to prevent anything like this from happening again. we'll make sure that any leases for have these safeguards. we will address safety concerns. let me be clear, i continue to believe that massive oil production is an important part of security but it must be done

responsibly for the safety of our workers and our environment. the ecology of the region and the people of the region are at stake. we will update the american people in the gulf going forward. i would like to say a few words about the economy. every three months, the federal government measures the total output of goods and services of our businesses, workers, and our government. that determines whether our economy is shrinking or growing. the single brought this measure of america's economic health. at the height of our economic crisis, that measure was too often delivering grim news. today, that is a different story. in the first quarter of last year, our economy shrank at a rate of 6.4%. today, we have learned that in the first quarter of this year, our economy grew at a rate of 3.2%. this number means that our economy as a whole is in a much

better place than it was one year ago. the economy that shrank for four quarters in a row is now growing for three quarters in a row. that growth has been a condition for job growth the economy3 that was losing jobs is creating jobs today. as the single biggest economic crisis in our lifetimes, we are so -- we are heading in the right direction and will be for it. our economy is stronger and economic heart beat is growing stronger. but i measure progress by a different pols. ulsé8ye, a visited folks in the midwest in places where damage done is profound. they are still trying to recover from the shock waves of lost homes, lost businesses, and for the 8 million lost jobs.

it is a tragedy that has families across america to often feeling like they are on life- support. while today's gdp report is an important milepost on our road to recovery, it does not mean much to an american who has lost his or her job and cannot find another. for millions of americans, our friends, neighbors, and fellow citizens willing to get back to work, you are hired is the only economic news they are waiting to hear. moving this economy forward remains our focus every single day. government cannot replace every job that has the loss. -- every job that has been lost. there have been private sector businesses that are the anchors of our job creation. our test is to create the economic conditions and

ultimately hire more workers. that is what we tried to do. by cutting tax for small businesses, by backing thousands of loans and supporting billions of dollars in lending and mak ing targeted investments where job growth is best. as an example this week, i visited workers at a plant in iowa. if you share years ago, that plant was shuttered and dark. today, it is alive and humming with more than 600 employees at work manufacturing some of the most advanced blades for wind turbines in the world for that facility capitalized on its growth by taking a passage of an advanced energy manufacturing credit with the recovery we had last year which allowed them to add equipment and hire new workers at the plant. this program was so successful that was oversubscribed by a

ratio of 3: 1. i call for an additional $5 billion to invest into these projects and accelerate the creation of clean energy jobs in america's factories. every time a new plant opens or expense of america, it becomes a more important to people that it employs. it becomes an economic lifeline to communities. the co's and the workers that we have here today will tell you the same thing. malcolm unswirth is the ceo of altron produces smart meters that measures how people use our energy. these meters help reduce carbon emissions than they are critical components of a smart electric grids of tomorrow.

the $3.4 billion investment that the recovery act made toward the help -- toward the grid help create more of the demand for itron's products. there using the tax credit to meet the new demand. in minnesota, they have hired 40 new workers, they are opening in south carolina where they are l120 workers. these are two of the workers who have been hired. he and his wife and a lot both work at itron and are forging a future for their three daughters. this man as president and ceo of a123 systems who produces batteries for energy storage in

vehicles. last august, vice president biden traveled to michigan to say that this was one of the company to win a recovery act grant for battery recovery technology. that help them hire 44 new workers and a grant to supporting the construction of three new plants in the state of michigan which the company expects to hire more than 120 workers by the end of this year, more than 1000 by the end of six -- next year, and more than 3000 by the end of 2012. two of those workers are here today. they lost their previous jobs through the recession and a 123 hired them to help manufacture the batteries. the company has already begun construction on one facility in this city of lavonia.

they have announced plans to announce their first high-volume factory. a123 was looking to build the factory in asia but because they received a grant, they chose michigan for their largest and most innovative plant for the plant will be one of 30 new plans to go fully operational over the next six years, manufacturing electric vehicle batteries and components right here in the united states of america. this is what is possible in a clean energy environment for these folks right here do extraordinary work. this is what happens when we placed our bets on american workers and american business. we will continue working to help them manufacture more success stories like these across all sectors of our economy. we still have a long way to go on the road to recovery. there will be more ups and downs along the way. today's news as another sign that we are on the right track. we will keep doing everything we

can to help our businesses power of our recovery and lead us to a more hopeful and prosperous said of days in the future. thank you very much, everybody. good job. >> you're welcome. >> when our solar panels going on the roof, sir? [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2010] >> tonight, almost 3000 journalists, politicians, and letters will gather at the

washington hilton for the white house correspondents association annual dinner. the c-span coverage of the black-tie event include remarks by president obama and nbc tonight show host jay leno. that is live starting at 8:00 p.m. eastern on c-span. coming up, "washington journal." we will take your questions and comments and then about marking the 20th anniversary of the group called emily's list. . .