if only all robberies were so nice. bill: right on. alisyn: have a nice weekend. bill: you too. see you monday. alisyn: "happening now" starts right now. jenna: and we start after with a fox news alert on wall street. hi, everybody, i'm jenna lee. rick: and i'm rick folbaum in for jon scott. jenna: wall street is what we're watching, of course, after what happened yesterday. let's take a live look at stocks, the dow just negative there slightly, down 22 points. better than yesterday. yesterday the dow plummeted more than 500 points. it was the worst single-day loss since the financial crisis in 2008. european markets also reacting today, they had a selloff of their own. italy's a major concern, and investors are also fearing, of course, the stability of the u.s. economy, rick. rick: that's true, jenna, and we

got a look at the jobs picture today. a widely anticipated report from the labor department. this happened a few hours ago, it dropped to 9.1%, but that's not the whole story. the number of jobs added really helps tell the picture. 117,000 jobs were added, and that's really not enough because the economy needs twice as many net jobs a month in order to bring those unemployment numbers down, jenna. jenna: meantime, rick, the president is set to address veterans on what his administration is doing to prepare them for the work force. we're expecting he may begin with some comments on the jobs report as well, and we want to watch for those comments, rick, and certainly we'll bring those to our viewers live when they happen. rick: while we wait for the president, you can see the nasdaq is down, some of the other indices down as well. 32 points on the dow. charles payne is a fox business network anchor and contributor, and he joins us now to help us get a sense of what all of this

means after yesterday's nose dive. >> reporter: right. rick: and today's jobs numbers, what are we looking at for the rest of the day? >> >> reporter: you have two dynamics at work here. the first one is the expectations game on wall street. everyone had ratcheted down what they thought was going to be the news today, 50,000 jobs, maybe even negative jobs, so we beat that. at one point we were up, like, 150 points. but then reality is starting to seep in. 117,000 jobs in an economy that needs 250,000 every single month just to chip away at the massive job losses that we have already isn't really the elixir that we all want. now, yeah, things are better than yesterday, but as you can see from the market, the uneasiness is still out there. rick: as we wait to hear from president obama, what can he say? what should he say about what's going on? a lot of times when officials whether they're the president or the treasury secretary get in front of a microphone and start talking in times like this, the markets don't like that. but what can the president say to sort of calm things down?

>> >> reporter: the president has a real dilemma because his policies have not worked, and he wants to stick with those policies. now, there's certain things he can do that, to me, are absolute no-brainers. first of all, there's $1.5 trillion in corporate profits overseas. when george bush let that money come back into the economy, we had a massive explosion in job growth. the president has latched on to this idea, but he wants to take that money and form an infrastructure bank with it. that's not going to work. let the money come back. i think at a minimum it would be a $60 billion stimulus, maybe $40 from my -- $240 from my own reckoning. it wouldn't cost a nickel. then there's some other things. and to be quite frank with you, the long-term solution will involve some major fixes with the debt ceiling, you know, lowering our debt, taking away some entitlements -- not taking away, but reforming entitlements and things like that. things that, obviously, as we saw this summer that washington still is incapable of dealing with.

rick: one more question. for investors out there who maybe only have money in the market through their 401(k) but are watching all of this, and their stomachs are tushing. -- turning. what do you tell them? >> reporter: please, don't panic. in the march 2009 we had the absolute bottom in the market, it doubled, and just a year after that it's heartbreaking to see people lose money like that when they don't necessarily have to. if you can, please, stay the course even though i will admit this is a vote of no confidence, it's a legitimate vote of no confidence. ultimately, though, corporations are doing pretty well. rick: charles payne, thanks very much. always good to talk to you. jenna? jenna: we're also waiting to hear from the president. i talked to the chairman of the president's economic council of advisers, austan goolsbee. it's his final day today, by the way. i asked him if latest jobs report is really a sigh of relief and also to talk a little bit more about where we are in this jobs recovery. >> well, i think where we are in

the recovery is we had a month of encouraging data that came in better than expected, but i always say when the numbers were bad, i'll reiterate again when they're better than expected, never make too much out of any one month's numbers because they move around a lot. even in this report you saw they revised up quite substantially the last two months, so they weren't as bad as was first thought. i think where we are in the recovery is, if you take a step back over the last 17 months, the private sector r added 2.4 million jobs. that's pretty good. we've got a long way to go, and it's not near enough. jenna: i pushed him a little bit and asked him if you could place it in a baseball game, what inning we were in. he didn't go for that. we're also coming back from some big blows the first part of the year. we can't forget what happened in

japan, higher gas prices, so we'll certainly talk more about that in the next hour. in the meantime, again, the president we're waiting to hear from him about the jobs report, also a plan to put veterans back to work. we'd like to welcome in senator joe manchin of west virginia. he's on the armed services committee. back home, senate, and taking a break that talk about to us. we appreciate it. >> thank you, jenna. jenna: one of the things i talked to the president's economic adviser about is the clarity of the growth agenda for this country. do you feel like you have a good sense of what direction the administration wants to go as far as growing the economy, growing jobs? >> well, jenna, let me just say when i became governor back in 2004, you know, all states are challenged. we were challenged. we set our priorities. and, basically, we wanted you to know that government would be your partner. i shouldn't be your provider, and i surely shouldn't be your adversary, and that's what we were working on, and we accomplished that in our state of west virginia, and we're

doing very well. jenna: let me just -- let me just pick up off that. you can hear me okay, can you, senator? you all right? >> yes, i can. jenna: okay, just wanted to make sure. you mentioned the relationship and it not being adversarial. do you feel that the administration has an adversarial with the business community right now? >> i truly believe that you have all of these agencies that are overreaching, and they are, basically, creating public policy. and i've said this, if -- you shouldn't be able to regulate something that's never been legislated. and we've got these agencies, i think, running wild right now. they're not trying to find the balance. they're just, basically, moving ahead. and it's wreaking havoc on the confidence of the american people, really, and basically of the businesses that don't know what the game rules are. if you don't have a level playing field and if there's not some dependability built into the system, we can throw all the money and programs at this, and it won't change. not until the attitude and the confidence changes in this country.

jenna: it's interesting to talk about regulation because rules are often put in place to help build confidence, to make consumers feel more protected and more taken care of. you're saying that sometimes regulation has the opposite effect. and, certainly, a lot of members on the opposite side of the aisle agree. it's something that republicans talk a lot about, having more deregulation. how do you achieve that in this environment, though, that we've seen so polarized? >> jenna, there's a balance to be had. you know, and i apologize for what people have witnessed in washington. we shouldn't be so divided. you know, everybody seems to be worried about the next election, and i'm going to be up the next time. i'm not worried about my election in 2012. i'm worried about the next generation. i'm worried about where this country's going to be in the next 10, 1, 20 years or beyond. and we need to put our politics aside. we need to pull everyone together and right now there's no confidence. and the stability that we have right now is so fragile that people don't know what to

expect. if they see us walk away from an faa bill that had 4,000 jobs and millions and millions and millions on the line over a little bickering back and forth that should have been, really, taken care of long ago. and then, thank god, yesterday we finally come to our senses and was able to take care of that. but they're concerned. they're concerned about how we operate in washington and how we operate as a government and can we give them the confidence and stability they need to make the decisions to invest. you can't make an investor invest unless they think they can get a marketable return, and they have confidence in the system. jenna: confidence seems so key. so tough to quantify and so tough to rebuild as well. senator, you set us up well for our next segment. we're going to the faa story in a moment. we really appreciate your time, thank you. >> thank you, jenna. good to be with you, thank you. ♪ rick: well, it's all your money, and you just heard senator manchin talk about the deal brokered in washington, the senate passing a short-term

extension funding the faa. but 200 million of your taxpayer dollars going to rural airports every year just to keep them in business. peter doocy is live in d.c. what happened in the senate today? >> reporter: well, today, rick, this morning, about an hour and ten minutes ago, the senate voted to approve the faa's funding through september of this year, so the shutdown is over for at least another few weeks, and it was a really quick vote, believe it or not, after all the name calling and posturing by both sides over the past few days, there were no objections. rick: what about the major sticking point in the faa bill? what was it? >> reporter: the major sticking point was the essential air service program. it's pumping money into airports to about 150 rural airports because of all the federal money they are getting, and a lot of these places don't have public transit, so aviation experts say this essential air service does help a lot of people in be theory -- in the theory. >> it's a badly out of date

program that needs to be revamped. the problem is it's maintaining air service at places where people don't want to go on airplanes, no one will get on. no, there isn't, but it's necessary. a place in maine where they don't even have an interstate highway, it's three hours to the next biggest airport, it's important. a place like augusta, maine, is a waste of time. >> reporter: but some of these small airports are receiving $3,000 per passenger, per seat. that's the subsidy ely airport out in nevada was getting. some republicans wanted to cap that at $1,000 because they don't think it's fair, basically, for the many to pay for the few. you hear a lot about that. senate majority leader harry reid yesterday made clear that the deal passed today does not resolve all the issues between republicans and democrats with regard to the faa, so expect to hear a lot more about small airports for the rest of the summer. rick: all right. we'll look forward to it. peter doocy, thanks. jenna: taking you down to florida now, casey anthony's whereabouts may soon be public

knowledge. a judge is hearing testimony today as he considers her probation status. she may be ordered to return to that state. we have the latest from the courtroom straight ahead. >> reporter: also a group of campers mauled by a polar bear. four other kids were injured in this attack, we'll tell you where it happened. and we continue to watch the dow after yesterday's massive selloff. it's a story that effects every american's bottom line, so stay with us for updates. during the break log on to foxnews.com for the latest economic developments and breaking news 24/7. we'll be right back. are you receiving a payout from a legal settlement or annuity over 10 or even 20 years? call imperial structured settlements. the experts at imperial can convert your long-term payout into a lump sum of cash today.

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jenna: want to take you life, now, to this event we're going to be monitoring over the next few minutes. we're awaiting the president to speak about the economy, jobs and plans to prepare our nation's veterans for the work force. that's the official word from the white house as far as this event goes. you see admiral mike mullen, he's going to be introducing the president, by the way.

there's about 300 people in the audience. again, we'll bring you back to this washington navy yard when the president steps to the podium. now to florida. court just going into recess in another hearing for casey anthony. as you might recall last month, casey disappeared from public eye when she was acquitted in the death of her daughter. but today her lawyers were fighting an order that would force her to return to florida. phil keating is live in orlando in a familiar spot, i'm sure. phil? >> reporter: yeah. jenna: will casey come out of hiding? >> reporter: that's a big question that we still to this day do not know the answer. it was one month be ago today, july 5th, when that jury came back acquitting casey anthony of the first-degree murder charge of killing her daughter, convicting her of four counts of lying to investigators. since that time, casey anthony has disappeared, presumably, somewhere outside of the state of florida. reportedly spotted one time in ohio.

but as for whether she'll have to serve one year's probation anytime soon, well, judge perry doesn't even know yet how he's going to rule. this all stems from the time period when casey anthony was out partying it up, hot body contest, drinking it up at the clubs and going on shopping sprees with stolen money. her best friend's checkbook. and for that two januaries ago she pleaded guilty to six counts of check fraud. the judge sentenced her to 412 days in jail which she served while awaiting the murder trial, and he also verbally said after you're released i want you to begin one year's supervised probation. but it wasn't written down on the actual sentencing documents just like that, so there's been confusion as to whether she has done that one year's probation is completed because she was denied bail while she was awaiting the murder trial, and so you have the florida department of corrections, casey anthony's attorneys -- jose baez

and cheney mason -- and the state prosecutors all in agreement that she should not have to serve probation. that is that it's over and done with. even on the bench judge belvin perry seemed perplexed. >> this is a legal morass that, if anything could go wrong, it went wrong here? >> yes, your honor. >> and i'll be frank and honest, i don't know what i'm going to do. jenna: a fox news alert, thanks, phil keating, for the report. we'll be back to phil when we can. where we're bringing you right now is to the washington navy yard where we're expecting the president to make some remarks not only on jobs in general, but also jobs for our nation's veterans. it looks like they're going through a little bit of, well, some applause as you can see for yourself there as they welcome the president.

from what i understand, there's about 300 people friend for this, and one of the big questions of this economy has been how do you employ veterans coming back from wars overseas? a big group that needs support. let's go ahead and take a listen to the president. [background sounds] >> just waiting here. [laughter] [background sounds] [background sounds]

[background sounds] [background sounds] [inaudible] >> well, thank you very much, everybody. good morning. i'm glad somebody told me that was the last one because i had lost count. [laughter] it is great to be here at the navy yard and, first of all, i want to thank admiral mullen for being here and for his four decades of extraordinary service to this country. and i want to thank him for saying that for an old guy i look okay. [laughter] i appreciate that.

this may be one of the oldest shipyards in the united states, but today it's used to develop some of the most advanced technology in the military. although i hear your engineers are still working on a solution to the traffic when the nationals are playing. [laughter] that, that's not ready yet. let me start by saying a few words about our economy. there is no doubt this has been a tumultuous year. we've weathered the arab spring's effect on oil and gas prices, the japanese earthquake and tsunami's effect on supply chains, the extraordinary economic uncertainty in europe and, recently, markets around the globe have taken a bumpy ride. my concern right now, my singular focus is the american

people, getting the unemployed back on the job, lifting their wages, rebuilding that sense of security the middle class has felt slipping away for years and helping them recover fully as families and as communities from the worst recession that any of us have ever seen. today we know that our economy created 154,000 new private sector jobs in july, and that's the strongest pace since april. the unemployment rate went down, not up. but while this marks the 17th month in a row of job growth in the private sector, nearly two and a half million private sector jobs in all, we have to create more jobs than that each month to make up for the more than eight million jobs that the recession claimed. we immediate to create -- we need to create a self-sustaining

cycle where people are spending and companies are hiring and our economy is growing. and we've known that will take some time. but what i want the american people and our partners around the world to know is this: we are going to get through this. things will get better. and we're going to get there together. the bipartisan compromise on deficit reduction was important in the terms of putting us on sounder fiscal footing going forward. but let's be honest, the process was

the more we grow, the easier it will be to reduce our deficits. now, both parties share power, both parties share responsibility for our progress. moving our economy and our country forward is not a democratic or republican responsibility, it is -- it's not a public or a private responsibility, it is the responsibility of all americans. it's in our nature to do the

tough things when necessary, to do the right things when called. and that's the spirit that washington needs right now. it's also the kind of spirit found in the men and women who proudly serve in our country's uniform. and it's a spirit that endures long after they take those uniforms off. today's veterans are americans who have done their duty. they have fought our wars with valor from the jungles of vietnam to the deserts of iraq to the mountains of afghanistan. and they include the members of today's military, the 9/11 generation some of whom are here today. who volunteered to serve at a timeover war knowing -- time of war knowing they would be sent into harm's way. to these men and women, i want to say that all of you have served our country with honor. over the last decade, you've performed heroically and done

everything we have asked of you in some of the most dangerous places on the planet. your generation has earned a special place in american history. today nearly three million extraordinary service members like you have completed their service and made the transition back to civilian life. they've taken their leadership experience, their mastery of cutting edge technologies, their ability to adapt to changing circumstances, and they've become leaders here at home. just think about how many veterans have led their comrades on life and death missions by the time they were 25 years old. that's the kind of responsibility and be experience that any -- and experience that any business in america should want to take advantage of. these veterans are already making an impact, making companies and communities stronger. but for every success story there are also stories of

veterans who come home and struggle to find a job worthy of their experience and worthy of their talent. veterans like nick hogan. when nick was in afghanistan, he served as a combat medic with the 82nd airborne. over the course of his deployment, nick saved the life of a french soldier who was shot in the head and helped 42 people escape there a flooding river. he earned a bronze star for his actions. but when nick got back home to wyoming, he couldn't get a job as a first responder. so he ended up having to take classes through the post-9/11 g.i. bill, classes he easily could have taught, just so he could qualify for the same duties at home that he was doing every single day in afghanistan. there are veterans like maria canalles. she was a financial specialist in the army, helping to provide financial support for her unit

in iraq. and when she got home, she finished earning her degree in business management. but even with her education and her experience in the army, maria still couldn't find a steady working job in accounting or finance. that isn't right. and it doesn't make any sense. not for our veterans, not for the strength of our country. if you can safe a life in afghanistan -- save a life in afghanistan, you can save a life in the an ambulance in wyoming. if you can oversee millions of dollars in assets in iraq, you can help a business balance its books here at home. our incredible servicemen and women need to know that america values them not simply for what they can do in uniform, but for what they can do when they come home. we need them to keep making america stronger. our companies need skilled workers like our veterans to

grow. and there's no reason why we can't connect the two. now, keeping our commitments to our veterans has been one of my top priorities as commander in chief, and that includes helping them make the transition back to civilian life. that's why we're fully funding the post-9/11 g.i. bill which is helping more than 500,000 veterans and their family members pursue a college education. that's why we supported extending the bill to include noncollege degrees and on the job apprenticeship training. that's why i directed the federal government to be a model employer and hire more veterans including more than 100,000 in the past year and a half alone. so today we're taking it a step further. first, we need to do more to make the transition from military to civilian life easier for our veterans. that's why i'm directing the

departments of defense and veterans affairs to design what we're calling a reverse boot camp. the problem is that right now we spend months preparing our men and women for life in the military, but we spend much less time preparing them for life after they get out. so we'll devote more time on the back end to help our veterans learn about everything from benefits to how they can translate their military training into an industry-accepted credential. in addition, we'll make it easier for veterans to go to their local one-stop career center and get help pursuing a career that fits them best. these steps will help bridge part of the gap between veterans looking for work and companies looking to hire. but that's only part of the equation. the other half is about encouraging companies to do their part. that's why i'm proposing a new returning heros tax credit for companies that hire unemployed

veterans. and i'm proposing an increase in the existing tax credit for companies who hire unemployed veterans with a disability who still have so much to offer our country. finally, we're challenging the private sector to hire or train 100,000 unemployed post-9/11 veterans or their spouses by the end of 2013. this builds on commitments that many companies have already made as part of the joining forces campaign championed by my wife, michelle, and dr. jill biden. siemens, for example, recently met their goal of hiring 300 veterans, so they're aiming to hire 150 more by december. microsoft is helping more than 10,000 veterans get i.t.-certified over the next two years. and today groups from the u.s. chamber of commerce to accenture to lockheed martin have all agreed to do their part to help

veterans get back in the work force. the bottom line is this: we still have a long way to go and a lot of work to do to give folks the economic security and opportunity they deserve. and that begins with connecting americans looking for work -- including our veterans -- with employers looking to hire. over the last few years, another generation of young veterans has learned that the challenges don't end in kandahar or baghdad, they continue right here at home. today we're saying to our veterans, you fought for us, and now we're fighting for you. for the jobs and opportunities that you need to keep your family strong and to keep america competitive in the 21st century. and at a time when there's so much work to be done in this country, we need everyone's help to do it. so thank you, god bless you, god bless all our services, and god

bless the united states of america. [applause] jenna: the president wrapping up some comments just on the economy in general on this very important jobs day where we have a new unemployment rate of 9.1%, it went down a little bit. we did see some private sector job creation as well that the president touched on. he mentioned a few different economic initiatives, we'll get into the payroll tax credit, extending unemployment benefits and the like. the president, of course, also mentioning those plans for veterans, to get them back into the work force and a commitment from private companies as well. charlie herd is standing by, columnist for the washington times. i'd like to just start with the overall tone set by the president and what he had to say about the economy. anything stand out to you on that? >> well, you know, obviously, he couldn't have picked a more sort of popular item to go after which is the staggeringly high unemployment among returning

vets. and, you know, i think among democrats and republicans everybody would like to see something done to lower that rate. um, but, you know, the problem that comes is, you know, the government is not proven itself in the past to be very good at matching veterans with employers, and it's also, you know, we've also just got finished with this huge debate about plunging ourselves further into debt which is what he's doing by eliminating these, you know, these taxes for employers. so it's sort of, you know, it's a great stab in the right direction, but, you know, when you start looking at the particulars, it causes you to kind of scratch your head a little bit. rick: charlie, it sounded as if the president was looking to share some blame for what's going on with the economy, the negative stuff anyway. he says this isn't a republican or democratic thing, that we're all responsible for the state of the economy. is that a message that you think will stick?

>> um, you know, i think he's been working this for a long time. he didn't mention president bush this time like he usually does which, i think, is probably smart of him. it's probably, i think people are getting a little tired of hearing that. but one of the things i thought was really interesting was he talked about the eight million people who have lost their jobs since this recession began. if you look at the numbers, he -- since he's become president, he's lost 2.4 million -- or 2.4 million americans have lost ploim. so that number, if that's going to be the benchmark that he throws out there, he's laying the groundwork so that during the campaign he can very clearly say, look, i've only lost 2.4 million. the previous guy, unnamed, lost some six million. and so i thought that was very interesting. rick: charlie hurt with the washington times. charlie, thanks. always good to hear your insight on that. >> thanking a lot. jenna: get some of those numbers. right now your tax dollars are not just going towards interest payments for china, they're also

funding projects that help the country grow. did you know that? it's interesting. we don't really talk about foreign aid to china. we're going to do that today. one u.s. senator says it's time to pull the plug on development aid for china. is there enough political sport to do it? how much of our money is going over there? we're going to talk to senator webb coming up. now to cape canaveral, florida, where we are awaiting nasa's launch of an unmanned rocket to study the planet of jupiter. we're going to bring you there live when it happens. thankfully, there's new crest pro-health clinical gum protection toothpaste. helps eliminate plaque at the gumline, helping prevent gingivitis. it's even clinically proven to help reverse it in just 4 weeks. new crest pro-health clinical toothpaste. life opens up when you do.

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foreign relations committee where he is chairman of the subcommittee, also a member of the senate armed services committee. it's a pleasure to talk to you, sir. thanks very much for being here. >> nice to be with you. rick: it kind of sounds like making a charitable donation to the bank that holds your mortgage. >> yeah. i think this is a situation where reality has overwhelmed what we have been doing in the past. there are two big questions, and we've looked at it in a number of different areas. one is should american taxpayer dollars be put into china in order to help develop their economy, and the second is are they really still an emerging economy which effects a lot of other programs like world bank programs, asian development bank programs, united nations programs. so we started looking at this, and i think it's time. senator inhofe who's the ranking republican on the subcommittee and i joined on a letter, basically, saying, hey, in the crisis that we're in right now, should we really be continuing to send american taxpayer

dollars over to china for these purposes? rick: and so what do your fellow lawmakers say to that? the u.k. and australia recently announcing they're not giving anymore aid to china. why don't we do the same? is. >> i hope that this letter will get the right result in the appropriations process, and there are other areas. my staff uncovered a situation a little more than a year ago with a company called millennium challenge corporation which was designed to use american taxpayer dollars to assist infrastructure projects in the third world, particularly in africa. and we started looking at the contracts, and it was rather amazing that the number one recipient of this taxpayer dollars were chinese state-owned corporations. $320 million worth of contracts had been let to chinese state-owned corporations, in other words, chinese government companies for development in africa, and we all know how active china has been in its foreign policy in africa anyway.

so you have the irony that american taxpayer dollars were supposed to be used to assist infrastructure projects in that part of the world, but what they were doing was assisting china in terms of advancing its own foreign policy in that part of the world. rick: senator, what about foreign aid, what about foreign aid in general? we get a lot of e-mails from our viewers who want to know, you know, with our economy the way that it is, with our debt the way that it is, why are we dishing out so much money to foreign countries, a lot of whom have shown a lot of hostility toward the united states? what do you say to that? >> i think we can take a good, hard look at where we're giving foreign aid. there are places where i think it benefits us in the terms of our security and, also, our ability to conduct commercial ventures. the japanese traditionally have been very good at tying in their aid with the advancement of their commercial interests. and i think we can do a lot more of that. rick: senator, we know you've decided not to run for another

term. one and done for you. you're returning to the private sector. thank you so much for your service to our country as a lawmaker, as a combat vet. thank you very much for your time. >> thank you. nice to be with you. jenna: talking about the economy there, we had to take a look at the market today because it started off a little slow. we had that huge decline yesterday of more than 500 points, one of the worst we've seen since 2008, and you see the small box on your screen, the dow is trading lower by 118. we want to keep an eye on that going into the weekend, some anxiety around the world markets. we'll keep you posted on changes stateside. also want to show you this. something interesting's happening down in florida, rick. they're sending this rocket to jupiter of all places. rick rec all right. jenna: the last time they did this was in 1989. it hasn't been done in several years. it's an unmanned rocket, by the way, and we're expecting it to take off -- it was supposed to take off around 11:34 eastern time, so we're just awaiting that launch. an interesting mission, and who knows what they're going to

find? rick: i love that kind of stuff. let's find out. [laughter] jenna: we'll get more information on that and, again, when that rocket launches, we te canaveral, florida. back to politics. what's next for the tea party? some are saying they're the champions of the debt debate, others say they lost it completely. will their constituents send them back to washington to finish the job? as we go into 2012, we have some new polls that will surprise you. also take this in. bullets fly on a busy city bus. a dramatic video like you've never seen it before, we have that next.

rick: okay. this story is nuts. authorities releasing chilling new video of a bus shooting in philadelphia. the bullets reportedly flying over the spanking of a child.

patti ann brown has the video and the details. i couldn't belief it when i read about this, patti ann. >> reporter: oh, yeah. it is very dramatic video now released of a terrifying assault in pennsylvania. the video shows bullets flying in this bus in philadelphia, gunmen threatening passengers. a preliminary hearing in the case was held yesterday. the video came out. police say penny chapman had called friends and asked them to shoot at a passenger she was mad at on that bus. it started with chapman on this route 47 bus heading north on 7th street, and the video shows her son running up and down the aisle. finally, she grabs him and appears to slap him. well, a man apparently doesn't like that, he threatens to turn her in for child abuse. chapman then can be seen making a phone call, and when she gets off the bus minutes later, the boy's uncle is waiting for them outside. the video is really dramatic to see here. la court helps them off and then

holds the door for these two other suspects. the firing goes on within the bus with a large assault rifle and a handgun. as the bullets fly, is the video shows a woman grabbing her 4-year-old boy. the man who criticized chapman's parenting dove right on top of that 4-year-old boy. many of the passengers are desperate to get off. the video also shows an 80-year-old woman who at first doesn't seem to know what's happening, and then at the last second she ducks just as a bullet flies over her head. 10-15 passengers on the bus at that time, and four people go on trial in this case on august 26th, later this month. rick? rick: unbelievable. and all of it caught on tape. patsy ann, thanks very much. >> thank you. jenna: the tea party widely seen as a driving force in the debt ceiling debate helping turn the conversation from spending to spending cuts. by they didn't vote as a bloc, and many are wondering what's next for the tea party especially now that many will

soon face their first re-election bid as we, again, go into 2012. there's a new poll out today, and if that's any indication, it's not looking good for many incumbents in congress regardless of the party. 82% of people asked say they disapprove of congress' job performance, that's the worst rating since the question was first asked more than 30 years ago. senior editor of the national review also wrote an interesting editorial on the tea party and its effects on the debt debate earlier this week. so what do you make of the tea party's position right now? again, they did not vote as a bloc for or against the debt ceiling. what do you think this next year looks like for them as we go into 2012? >> well, you know, from the very beginning of this there have been attempts particularly by the critics of the tea party to say this is a monolithic group, that they're taking central direction from the koch brother or whoever, and i think we saw over the last week that's not true. they are not all marching in the lockstep, and i think we ought to finally understand that this

is a much more grassroots, decentralized group, and different parts of the tea party are going to find different paths forward now. jenna: it's interesting you mention that, it's good you bring that up. i even refer to the tea party, really, in the wrong way. it's not a political party, it's a movement of people, and the question is what's the next evolution for that movement. do you think it becomes a third party eventually? is that something you see on the horizon, or do you see it kind of being absorbed into the gop here? >> well, i think, jenna, the short history of the tea parties, and we're talking about, basically, less than two years now that they have been part of american politics, shows that they succeed when they're in coalition with other kinds of conservative groups and not when they try to strike out on their own as a splinter force. i think you saw i that, for example, in the republican primaries where when they allied with pro-lifers and social conservatives, they were able to

topple people but not when they were going off on their own. and i think if they try to go third party, you're going to see a lot of them are going to say, wait a second, that doesn't make sense. and so that's going to be another split, and the folks who go third party, i think, would find their influence diminishing. jenna: t interesting to gauge public perception. i don't think we have the numbers, but in that same poll that i referenced during the introduction, public perception of the tea party has also grown more negative over the last several months. now, i should again mention that congress overall, the perception has grown more negative, so i guess it's consistent, the poll, for what it's worth. do you think the tea party, we talk about the tea party becoming unified and really moving together as more of a bloc, ramesh, do you think that would pose a greater challenge to the current administration, the president, or a greater challenge to the establish withment, the gop? >> well, look, you know, the tea party has become part of one of the established forces in

american politics, and as it's involved in the daily scuffling of american politics, its public image is taking a beating because people are sour about politics in the general. i do think that to the extent that the tea partiers act together and act in coalition with other kinds of conservatives they are going to be a force be that not -- a force that not only can hurt liberalism, but can also change the direction of the republican party. it becomes a kind of tea-infused party if that's the right way to talk about it. jenna: i like that. >> and i think we've already seen this. as you mentioned, the entire discussion of the debt has been totally changed by the fact that you've had these tea party influence on the debate. but going forward, you've got to, you know, play nicely with others -- jenna: sure. >> and i think a lot of the tea parties have shown against their critics that they have that sophistication, that they know how to work within the system as well as shaking the system up. jenna: tea-infused american politics, that sounds like a

pretty good title for a new column. it'll be interesting to see if we talk about the tea party in the next ten years, something we can't predict at this point, ramesh, but it's nice to have your insights today. thank you so much for joining us. >> you're welcome. rick: well, tropical storm emily breaking you have after soaking the island of hispaniola. the storm dumped more than 5 inches of rain on the island shared by haiti and the dominican republic. that rainfall yesterday. and now the biggest concern is flooding and mudslides, especially for thousands of haitians who are still living in tents after the earthquake in january of 2010. the national hurricane center has canceled all hurricane watches and warnings. jenna: on, really, the complete opposite spectrum, parts of texas and the southern plains are in desperate need of rain all while battling record-breaking heat. the crippling lack of rain is becoming worse because of triple-digit temperatures. forecasters are now saying the drought drying up the lone star state may last another year.

it could be the worst since the 1950s for that state, draining reservoirs, killing crops, animals and fish by the thousands as well as, certainly, a big story for that state, but also nationwide. rick: that's right. and the heat and drought situation, how long will it last? is there any rain or relief in the forecast? meteorologist janice dean is in the fox extreme weather center. hi, janice. >> reporter: hi, rick. texas saw less than an inch of rain statewide for the month of july. that's just crazy. i also want to show you this is a picture that justin walker sent me on twitter, janice dean fox if you want to send me pictures as well. 123 is what it feels like. obviously, the surface of the car is hotter than the air temperature, but this is his, on his car's dashboard. 123 yesterday in dallas. again, janice dean fox if you want to send me some twit pix as well. i think that's what you say, right? twit pix?

yes. and it is crazy hot across southern portions of the u.s. as well as jenna mentioned, we are dealing with the most exceptional drought in close to 75% of the state, almost worse than they've seen in 60 years. so this is just incredible drought that will continue, unfortunately, for the foreseeable future. they're not going to see any rain. they really need to see a couple of tropical storms hitting that state and, unfortunately, we don't see that coming anytime soon either. dallas, texas, 34 consecutive days of triple digit high temperatures. the record is 42 and, guys, look, saturday, sunday, monday and tuesday if we hit over 100 degrees, that will be 39 consecutive days, and it looks like we are going to break that record set back in 1980. it's just crazy from the heat across the southern portions of country. rick: all right, janice. thanks very much. >> reporter: okay. jenna: back to florida, now, where we want to show you the jupiter rocket that we expect to take off maybe over the next 30 minutes or so. there was a technical issue,

then there was a boat somewhere in the range as well. we'll keep monitoring this from florida. mission to jupiter today, we'll have more right after the break. [ tires screeching ] an accident doesn't have to slow you down. withetter car replacement, your car is totaled, we give you the money for a car one model year newer. liberty mutual auto insurance. let's design a vacation on a bumake it work.edia. see what anandra did? booking her flight and hotel at the same time a serious money-saving maneuver. book it! major wow factor! where you book matters. expedia.

jenna: apparently there seems to be some deja vu out there apparently when it comes to the markets. a morning rally on wall street evaporating, maybe the market hits a bottom, whatever that is. there is certainly a lot to consider. hi, everybody, i'm jenna lee. rick: i'm rick folbaum in for jon scott. the numbers for yourself not good. the red arrow pointing downward on the dow. the index down about 215 points right now. the nasdaq is down, the price of gold is down yet again. the bulls were out to give the market a small lift after yesterday's big, big dive and then the bears came back as traders looked beyond the latest job numbers reported.

jenna: that is something we have to consider, of course when it comes to unemployment. you have unemployment 9.1%. we did see private sector growth, some are describing this job's report as a relief. neil cavuto is our managing editor over there on the fox network, amongst a whole bunch of other things, a whole bunch of titles that are all good. what do you consider with the jobs report this morning, was it better than expected? >> reporter: it was. the more you look at it the more you step back and realize it wasn't that great. we are used to numbers coming in at worst than expected or awful, awful, when we get a number that is slightly better than expected we loose sight of the fact even when we get revisions that are up that revisions don't mean the overall number is great. there was a lot of clapping about the 117,000 jobs gained. better 117,000 more jobs than fewer jobs.

we are in the 25th month of this recovery since we supposedly came out of the last recession in june 2009, jenna, we should be generating at least three times as many jobs, and we are not. furthermore, we are whooping it up over revisions in prior months' data like in may gains of 53,000 jobs now, in june 46,000 jobs, i hasten to add this is not great, this is not the stuff that a nearly two-year long recovery is made of. and i think that is causing a great deal of concern out there. there is very little reason if you're a big company boss and you're sitting on all this money, we're told that u.s. corporations are sitting on about $2 trillion in cash, what would behoove you to spend the money in the wake of numbers like that or all the numbers we've seen from weak evening gdp to tumbling factory orders to tumbling consumer confidence in retail and sales data. what would make you hire folks

in an environment like that. you simply wouldn't. jenna: let's talk about some of the ideas to spark a faster jobs recovery. we had a few presented to us today. we spoke with austin goolsby. he said patenting. we heard from the president talking about rey role tax credits helping the economy, ebbs tending unemployment benefits e. was unspecific when it came to getting construction workers back to work but he said that with us one of his priorities. he announced business initiatives for veterans. a lot of different orders out there. does anything strike you as something that would help spark more of a recovery. >> reporter: we are out of options here. we are broke, jenna, we don't have any money. until we've got this meager debt leveling attempt to trim 2 trillion off our spending. we will end $7 trillion more in

debt even after all of that. the option -r options limited. there is much to be said with spear heading trade develops, with latin america and come be columbia. the unions say no, but in fact they do propel global activity and jobs. at the margin that will help. there is a move to maybe make substantial tax cuts to put a lot more money in folks hands obviously when the president did that on the payroll tax front, something he is looking to do again we did see people spend that money and we did see a commensurate pick up in retail sales. washington might be realizing its limitations. i now you and i chatted about this a few days ago. all the markets are saying of their respective country leaders, they are running out of options, clearly out of money

and a befret of ideas. they have no confidence in the leadership. nowhere was that shown more stark lee or clearly than in my mother country of italy, where berliscony was kreut tiesed. the average italian said, i hate to break it to you tud de to you buddy, it's not fine. in answer to your question it's a credibility issue. the options that various governments have before them, our own included are relatively limited. maybe the better part of whic wisdom here would be have don't you governments step out of the way. you've already proven the limitations of what you can do, spending a great deal of money. you could double down like you do in a game of blackjack and see what comes of that, or just try something different. maybe the somebody different

this time is nothing, keep the capital in private industry, private folks hands, see what they could do witness. we have nothing to lose at this point. jenna: seems novel, nothing, doesn't it. >> reporter: i'm sorry into the rupt you there. there is a tendency in washington, i call it the clipboard effect. people try to look very busy, run around with a clipboard. jenna: present company excluded. >> reporter: not us, we don't ned a clipboard. i can look busy without one. the fact of matter is we do it to make it look like we are doing it to justify our existence. i think washington feels compelled in the face of this. well we've got to do something, we've got to spend something, we need another program, another initiative. i think it's fair to say we should make an initiative that, no more initiatives, and step back and maybe try something different, in this case i hate to preach advice here, let average folks get more of their money, see what they can do with

it. we've given the same opportunity to those in washington and seen little bang for the proverbial buck. jenna: we'll see what happens. it would be interesting to see, no initiatives out there, no policy, nothing like that and see what happens with the economy. neil i have you have a couple hours until the market closed. that's like siesta time, speaking of your mother country. you work during siesta. >> reporter: actually, no i'm going to take a nap now and ask them to wake me up at 3:5 a and way way we go. jenna: your world 4:00pm herein time he will be awake for that, thank you very much, neil. by the way no break, tomorrow there is going to be a special live business block on the brink answers from the abyss, that is 10:00am to skwraopb eastern time live on fox news. rick: they could do a lot worse than to listen to advice from mr. neil cavuto.

the negative stuff putting intense pressure on the white house. we have an election, a little over a year from now. so president obama earlier today talking up a new plan, giving some specifics, ways to try to find work for our nation's unemployed veterans. he also weighed in a little bit on the latest job numbers we've been talking about. ed henry is live at the white house. ed, good to see you. what was the spin from the white house today after the jobs numbers came out? >> we are never napping here as you know working around-the-clock to make sure we get the story. the president was clearly trying to tout the fact that this report was better than expected. i think as you heard from neil who can explain it a lot better, the fact of the matter is there is still a long way to go. and the president made that clear in his remarks, that while he thinks there are some steps towards progress in this jobs report there have been a lot of indicators out there in recent days on consumer spending, on economic growth and the like that have suggested there is still a lot more progress that

needs to be made. and the president said, frankly, the messiness of the negotiations over that debt deal probably contributed to some uncertainty. take a listen. >> we are going to get through this. things will get better. and we're going to get there together. the bi-partisan compromise on deficit reduction was important in terms of putting us on sounder fiscal footing going forward, but let's be honest, the process was devisive, it was delayed, and if we want our businesses to have the confidence they need to get the cash off the side lines and invest and hire, then we've got to do better than that. >> reporter: now white house aids are also saying privately they believe the fact that there was at least some job growth, not enough to bring unemployment down sharply, but at least some job growth is a sign to them that we are not headed towards a double-dip recession, something a lot of people have been speculating about this week, rick. rick: even the tphorbg time

"the new york times" saying maybe it's time to talk about a double-dip. give us more of the specifics. the white house -- the white house's plans when it comes to jobs. >> reporter: they have been talking for the last couple of days how there are a lot of bi-partisan deals to be had with the republican house, path tan reform might recrate jobs, spur innovation for companies, extended payroll, a tax cut that is expiring soon, means an average about a thousand dollars in the pockets of some of our viewers. they talk about trade deals pending on capitol hill for a longtime. let's face it, no one of those initiatives is going to create tens of thousands, hundreds of thousands of jobs that will really turn this around in one fell swoop. i think the bottom line out of this report and many of the other reports we've heard in recent days, this is going to be a long, hard, slog, rick. rick: my first chance to talk to you on the tv,ed, that was fun. let's do it again soon.

>> reporter: i can't wait, great to be here. jenna: serious new acc accusations saying that the u.s. government allowed a mexican cartel was allowed to smuggle guns over the mexico border. william la jeunesse is following this live from hr-s average. >> reporter: court records claimed, jenna that the u.s. government cut a deal, not only did reallow guns to go south of the border, to the sinaloa cartel as part of operation fast and furious, documents say that the u.s. allowed tons of the cartel's cocaine to come north as part of a deal or arrangement with cartel leaders. the allegation is made in a defense motion by a high ranking member of the car tal entitled on federal charges. he and his lawyer allegedly acted as dea informants that

provided intelligence against rival organizations. in exchange the u.s. not only allowed cartel drug loads into the u.s. but withheld information from mexican police on the whereabouts of cartel leaders, including the most wanted man in mexico, and fugitives. our relationship with the cartel began when the department of justice dropped a case against loya in 2008 in return for his cooperation. he began feeding the dea with information. the dea even met with them in mexico city in march of sphaeuz 09. where it says, the sinaloa cartel was given carte blanche to continue to smuggle tons of illicit drugs into the united states and were proceed spechted from arrest and prosecution in return for providing information

on rival cartels. the ea and u.s. attorneys' office will not comment to us. the u.s. doesn't deny in court words that he was an informant, only he did not ask with their consent. a former dea director told us that she had no knowledge of this and says it doesn't sound right to her, the bottom line is, however, that this is a defense effort to get the dea on the stand or at least get their records that will describe this relationship with the cartel, which is embarrassing to us and seen as a betrayal in mexico where the story is exploding. back to you. jenna: very interesting our relationship potentially between the government and as you mention a drug cartel. one to watch. thank you very much. william la jeunesse in l.a. today. rick: quick break. when we come back the leaders of congress, republican and democrat gearing up to create a super committee to reduce the deficit. former wyoming senator alan simpson thinks that effort is doomed to failure. we'll find out what he thinks should be done coming up.

jenna: looking so much forward to talking to him. why is america finding behind in the race to reach the deepest depths of the ocean? did you even know we were behind. rick: i did. i prepared for the interview coming up. jenna: that is s coming up in just a moment. i couldn't concei this as a heart attack. the doctor leaned over and said to me, "you just beat the widow-maker." i was put on an aspirin, and it's part of my regimen now. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. go see your doctor now.

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jenna: it's been quite a week. earlier this week congress finally raised the debt ceiling and promis promised to cut the deficit. the folks on capitol hill have yet to solve the deficit problem overall. that problem has been put off for another day to be tackled by another bi-partisan super committee. we wanted to talk to someone to give us perspective on all of this. former wyoming senator alan simpson cochair of the president's national commission on fiscal responsibility, otherwise known as the debt commission. we worked hard to get you on camera, senator. we appreciate you joining us on the phone from cody, wyoming. >> you bet i'm right here. and i heard cavuto saying the clipboard theory, i love that,

that's a good one. it must be fun working with that cat. jenna: he's okay. he's okay. we'll keep him around. i hope he'll keep me around, that is more like it. one thing we talked about a lot this week is what happens with the debt deal, what happens without the debt deal. now we have it. we haven't talked about what the deal's effect is on the average american family. can you put it in terms for us about what this really means for the future of our country? >> it's very simple. you now have raised the debt limit. you've raised it now to 17.1 trillion. people have no comprehension of what that is and until they begin to talk, whether it's a gang of six, and i admire them, the gang of six, three republicans, three democrat, until they begin to remove the b from billion and put a t in there for trillion we are not going to make it because this is absolutely impossible. this day, today our country will

borrow 4 bill 600 million bucks. an every buck we spend we borrow 41-cents. if you keep doing that you've got to be stupid. that's where we are. all i can say is with regard to the group of 12, the super 12, that if they don't put the gang of six as six of the members on that you will know that the leaders have loaded the commission for failure, the super 12. jenna: how hopeful are you? >> i don't know. i just hope -- these six people, four of them who were on the commission have been working since january of 2010 to dump them. they don't need any more figures in front of them. they've got the obama plan, and the boehner plan, and the gang of six plan, and the reid plan, and the mcconnell plan. they don't need to say we need to sit down and look at this before they proceed. they've got a deadline, just before thanksgiving. we can hope 4 we will be thankful. when they are all through they are not near the $4 trillion

figure -- well they are just not there. and this is what everybody -- this is what the president said, 4 trillion in 12 years. it's what our commission said, 4 trillion in ten years. to short sheef this thing. and everything is happening globally. we've never been connected like this globally, this is all different. jenna: we've certainly had on our shows and many shows questions about political courage and what it's going to take and how we are going to fix this problem. someone said to me this week it's not just a $4 trillion plan, we need several 4 trillion-dollar plans to get this country back on track. but we don't talk about the courage it's going to take from the american people. when people are asked in polls whether or not they'll give up some of their medicare benefits or social security there is an apprehension on the public public's part too. what would your message be to the public, to us about what decisions and choices we'll have to make to be a partner in this

process? >> i would recommend they read the fiscal commission report, it's only 67 pages. i think they think it must be one of those 2,000-pound jobs. there it is www fiscal commission.gov. or www moment of truth project.org. there it is, and it's owl there. we are specific, anybody can tell you they are going to cut, they are for this. for that, then you begin to zero in on how you make social security solvent, how do you do with this medicare. if you want a microcost um go back at central falls, rhode island. they are going broke, they went to the union guys, the guys who have been firefighters and police, who retired at 42 or 45 and they said could you give something up? then they went to the retirees of the community and they said, no, and by god they went bankrupt. that's what is going on in america today. they say, we are in a tough shape but we ain't giving up a

nickle. and our group has recommended just exactly how to get sal advance see in social security and we get called the cat food commission. jenna: i'm going to cut you off here. thank you so much for joining us. we'll be back in a moment.

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engine continues to operate we well. rick: jenna, one of the cool things about this. i'm sort of a in othe a nerd for this kind of stuff. jenna: i like that about you. rick: this spacecraft is going to measure the amount of water in jupiter's atmosphere, and if there is a lot of water, if it's like a super wet atmosphere on jupiter, that might suggest that the planet formed farther out in the solar system than we originally thought, and then sort of my grated or moved to its current position. so that is something that is

very cool that scientists are hoping to learn from all of this. jenna: take a look at that. you know, it's an interesting, i don't know is it a metaphor? you look at this amazing feat in science, a billion dollar project, we are going to sent this rocket to jupiter. one of the great members of our team told me whopbs it gets to jupiter it actually crashes into the atmosphere having sent back all the information that we need. it's an incredible feat and here we have this incredible feat in front of us as far as the economy. it makes you wonder, how can we do this. how can we do such an incredible thing in science, and even srepbgs and not do some of th invention and not do the things on earth that we need to do. senator simpson was going to come back and talk about the financial situation. taking some of the news together today it really makes you think. rick: if we can figure out how to get a skwrobgt ship up to

jupiter, why can't we figure out how to solve the problems with our economy? that spirit of innovation and everything is something this a lot of people were upset about when the end of the shuttle program came a few weeks ago, that that was going to be the end of it. to a lot of people around the country, of course, those people who are old enough to remember president kennedy's stirring words and when we put a man on the moon, the idea of that kind of a program going away, it seems a little bit contrary to what the american spirit is all about. jenna: once again, this unmanned rocket, you mentioned the shuttle program stopping, yes, no more shuttles but we still are doing exploration in space. this is part of that program. this is the first time we are sending something to jupiter since 1989. again a five-year project, a five-year trip. rick: $1.1 billion. jenna: they will be gathering information there. it looks like a successful launch, knock on wood. we saw it go out into the

atmosphere. we'll keep you posted on more you think a segment on the race to the bottom would be about the economy or the markets. we are talking about efforts to reach the challenger deep. millionaires and billionaires are funding many submarines, richard branson's submergible is seen here. it was developed by graham knox. why is this such an information mission? >> well, look, earth is a very silly name for an ocean planet. we are getting access just to our own planet, that's all. rick: we mentioned the names, some of the names, you know, the gentleman that you're working for, sir richard branson, and others as well, jim jamyron the movie distribute eris involved in this. the guy from google, eric

schmidt i is involved in this. millions of dollars is being spent on all of this. my question is why? >> well, you know, if you look at japan, japan is interested in the race to the deep. the u.s. i guess government is focused on space and left it to private individuals to go to the bottom of our own planet. it's a big area down there, there is a lot of stuff down there. rick: we mentioned this mission to jupiter and what scientists hope to learn. what would you hope to learn by getting to this deep spot in the ocean? >> well, you know, the part that makes me grin is what we don't know. so we're going to find out what we don't know. just bear in mind, this is our own planet, two-thirds of it is largely unexplored. there are more footprints on the moon than the deep ocean, so we're going to the deep ocean. rick: what about the danger

element? how dangerous is this? >> these are experimental crafts. the one that we've designed is really pushing technology. there is a considerable element of risk. but the risk reward ratio is looking pretty good for those who want to take that risk. rick: do we have any idea when this is going to begin? when are the first vessels going to start heading down? >> well the one that we've designed was originally for steve fossett, and that was ready to roll out about a month he was lost, that was about three years ago. so we're pretty close, but it's all being -- you'd have to talk to virgin's richard branson to get that answer. rick: we will. we will follow-up with him. we appreciate you coming on. this is sort of the spirit of adventure is eupl that we were talking about that i'm glad to see is alive and well, graham hawks who is the founder of hawks ocean technologies, thank

you so much for your time and best of luck to you. >> thank you. rick: we'll be right back after a quick break, don't go away. an. [ crying ] oh great. every time i fly. my ears! swallow! [ male announcer ] upgrade to first class investing technology... at e-trade. is besabsorbed in small continuous amounts. only one calcium supplement does that in one daily dose. new citracal slow release... continuously releases calcium plus d for the efficient absorption my body needs. citracal.

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the only medicare supplement plans endorsed by aarp. when they told me these plans were endorsed by aarp... i had only one thing to say... sign me up. call the number on your screen now... and find out about an aarp medicare supplement insurance plan. you'll get this free information kit... and guide to understanding medicare, to help you choose the plan that's right for you. as with all medicare supplement plans, you can keep your own doctor and hospital that accepts medicare, get help paying for what medicare doesn't... and save up to thousands of dollars. call this toll-free number now. jenna: a brand new unemployment number today showing a slight drop for the month of july as far as the unemployment rate, down to 9.1% from 9.2. you see there on your screen the economy added about 117,000 jobs, that was better than expected. earlier i spoke to austin goolsbee, i asked him where he thinks we are in this recovery.

>> i think where we are in the recovery is we had a month of encouraging data that came in better than expected, but i always say when the numbers were bad, i'll reiterate again, when they're better than expected, never make too much out of any one month's numbers because they move around a lot. even in this report you saw they revised up quite substantially the last two months, so they weren't as bad as was first thought. i think where we are in the recovery is, if you take a step back, over the last 17 months the private sector added 2.4 million jobs. that's pretty good. we've got a long way to go, however, and it's not near enough. jenna: so if it was a baseball, if it was a baseball game, would you place the recovery in, like, the fourth inning? the second? where are we? >> look, i don't know. try not to predict the future, that's my, that's one of my mottos. the thing is it's not a secret that we took some heavy blows

the first half of this year, i think. with gas prices, with europe, with the events in japan, and so we're coming back from that. i mean, we did not take the gdp numbers for people around the country to know that they were struggling, but the gdp numbers confirmed it. and so now what we're working on is trying to get that bounceback and recovery for the second half of the year. jenna: so let's talk -- >> numbers like this, it's a good start, but, i mean, this is -- we've got a long way to go. jenna: so let's talk about that bounceback. what's the best new idea you've heard over the last couple weeks or months about how to pick up the pace when it comes to job growth? >> well, i would say, what my contention has been is -- jenna: wait, you need to see what just went behind you because i don't know if this is the shovel-ready project, was that planned? >> that's a sign of job creation right there. [laughter] the thing is this, there are plenty of things that the two parties in washington disagree

on. so let's wait on those. there are a bunch of big ideas that we've teed up and are sitting there that are bipartisan -- passing the free trade agreements, passing a bipartisan infrastructure bill, passing patent reform, extending the payroll tax cut -- things that republicans and democrats can agree on. and my view is let's do those. let's do 'em right now. this report may be better than expected, but it's still a call to action. jenna: a call to action. cement truck and everything there. again, not planned -- rick: the sounds of job creation. jenna: job creation happening. let's take a look at the dow. forty minutes ago neil cavuto was on with us, we were down more than 200 points on the market. look where we are now, up 23. steve moore for "the wall street journal", motion sickness, steve. [laughter] what do you make of this? >> which, by the way, was that the rocket going to jupiter that went by austan goolsbee in that

clip? look, i think it is a call for action. he's an old friend of mine, but i'm getting a little tired of this kind of passing of the buck, the lack of accountability from this administration. i mean, austan said, oh, it's the high gasoline prices, it's the earthquake in japan. when is this administration going to fess up and say, look, the policies we put in place just haven't worked? this jobs report was an improvement, but it's still so insufficient. as neil cavuto just said a little while ago on your show, he's exactly right. we need about three times as many jobs as was create inside this jobs report, jenna, just to get some progress in reducing this unemployment rate. it's hard to say that a 9.1% unemployment rate is anything but dismal. and if you look at what's happened with the markets in the last two week weeks, if you look at some of the major firms like cisco that say layoffs are to come, i hate to say this, but i

think it's the calm before the storm. jenna: you mentioned the administration not taking responsibility in your opinion, but let's talk about the responsibility that both parties have for their ideas. you know, when you talk to democrats, they talk about education and infrastructure. those are the themes. when you talk to republicans, they talk about deregulation and taxes. if i had a quarter for every time either party mentioned those, we wouldn't have a deficit, right? [laughter] >> that's right. jenna: neil said earlier on the show that maybe the new idea is to do nothing. what do you think about that? >> i do think nothing would be an improvement over what we've done over the last two years. the problem i have with what the president said this morning when he said, well, what do we have to do now? he said, let's see, more infrastructure spending which sounds more like shovel-ready projects we had in the stimulus plan, he wants to extend the payroll tax credit which didn't work. we put that in place in january, we've had an increase in the unemployment rate since then. he said patent reform, but does

anybody think that's going to get us back to full employment? i think the administration is out of ideas, and i think continuing to increase this budget deficit is very reckless. one of the reasons, i think, jenna, the market has really collapsed in the last four or five days is because the global investment community believes that this budget deal simply insufficient to deal with the $10 trillion of debt that we're facing over the next ten years. jenna: you know, i asked austan -- we don't know who's going to replace him -- i asked him what advice would you give to your predecessor, he said, bring food to the office because there's a lot of late nights. he also invited me to a bears game at soldier field. it's cold there. i don't know if that's much of an invitation. >> you may not know this, but i'm from chicago, so i'll go with you guys to that game. look, i think he's done a great job. there's no question this administration was dealt a very bad hand. jenna: sure. >> i just don't think a lot of the prescriptions have worked very well, and i'm not so sure either party has a great plan.

read my op-ed in the "wall street journal" this morning where i say maybe now is the time to do a big tax reform where we lower those tax rates, get rid of the pollution in the tax system. i think that could jump-start this economy. reagan did it in '86, and it worked like a charm. jenna: we're going to take a look, definitely, steve. always great to have you. we'll do the bears game and see what comes -- it's cold. i don't know. >> see you soon. jenna: we'll go to an eagles/bears game, cold but not as cold. rick: well, they're incredibly famous, both of them, but what else do rob lowe and russell brand have in common? the surprising answer straight ahead. labored breathing ]

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shannon: coming up on "america live," you have heard of the first amendment, right? is well, senator john kerry says it's now up to the media to stop covering the tea party and its absurd ideas, so we're going to debate whether the media should stop treating the tea party as

legitimate. and texas governor, maybe presidential contender rick perry's holding a massive prayer event tomorrow and getting sued over it. will the controversial gathering be a plus or minus for perry if he makes a run for the white house? alan colmes joins us, ari fleischer too. we'll see you at the top of the hour. ♪ rick: well, fox news is on the job hunt. the labor department reporting that hiring picked up a little bit last month, but one key part of the jobs market is not putting out help wanted signs. a new survey of small business owners finds their plans to administer workers very much on hold. adam houseley is live in marina dell ray, california. adam, small business seems like they have taken a major hit, right? >> reporter: yeah. in fact, there's a couple of surveys you talked about, rick, show a lot of pessimism in small business. in fact, the one that came out this week by the national federation of independent business said 14% of businesses

laid off. we had a chance to talk with the california director about that survey. here's what he had to say. >> what we hear from small businesses every day is that they're overtaxed, they're overregulated, and they're overwhelmed by a government that keeps get anything the way of their ability to you. to grow. >> reporter: now, back here at marina del ray, california, and they pretty much agree with that survey, rick. rick: what about small businesses and their forecast for the future, adam? the pizza place where you are and others, do they see this changing anytime soon? >> reporter: well, they have 25 employees, they serve these pizzas and pizza doughs to about 30 different states, major hotels get them as well. and we asked them, hey, do you plan on expanding in this economic situation? and they said, not right now. they can make their bills, but the uncertainty has them holding money back. take a listen. >> i love what i do, i love my employees, i have people that have been here for over 20 years

working for me. and i don't want to do anything else. but it's frightening out there, and is my bottom line hasn't changed in two years. but my cost of business has changed significantly. >> reporter: and that cost of business and the uncertainty coming up with the economy, rick, has them holding money back just in case, for example, they have a down month or two. so that means no new employees and really no expansion plans for a lot of these small businesses, especially here in the western u.s. rick? rick: adam houseley live this morning in if california. adam, thanks. jenna: we ask this question a lot when it comes to the economy, but it certainly has been asked this week and for the last several about washington: has it ever been this bad when it comes to bipartisanship and where we are as a country? we're going to put that question to doris kearns goodwin coming up next. kim and james are what you might call overly protective. especially behind the wheel.

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rick: well, a lot of people say it feels like we have been watching washington at its worst lately. many americans saying our government is simply broken, there have been insults flying, partisan politics taking over. take a look at this. >> put something on the table! tell us where you are! [cheers and applause] rick: and the bickering goes on and on. but is it unprecedented up on capitol hill? our next guest is the author of "team of rivals: the political genius of abraham lincoln." doris kearns goodwin, so good to talk to you. thanks so much for being here. i think about president lincoln and the time when he was running the show, and we had a civil war. so as bad as it is now, it can't be the worst that it's ever been. >> no, you're right. i suppose it's small comfort to remember the 1850s when a southern congressman used a heavy cane to hit a northern senator so badly over the head

that he was out of work for three years, and more importantly, the southern congressman was lionized in the south and considered a murderer in the north. and maybe there's small comfort in remembering that in 1968 when there were riots in the streets and anti-war demonstrators and congress was stuck between not wanting a war and wanting a war, a french advertising agency for travel said come see america while it lasts. [laughter] so it's not as bad as those things, but it's the worst in a generation, in my judgment. the terrible polarization, the ideological name calling, the inability to get anything done even though they got the debt ceiling done, it took so long that it didn't do what it was, hopefully, going to do. rick: a lot of people say compromise has become a dirty word on capitol hill, yet that's exactly what we're going to need, this quote-unquote supercommittee that's about to be formed to figure out a way to cut over a trillion dollars more or else sort of armageddon cuts kick in. if we look back on history, when other committees like this, sort of blue ribbon committees have

been formed to tackle one thing or another, how successful are they? >> well, the trouble is the supercommittee has to get then the votes of the congress as a whole. but maybe the one hope is that the situation is dire enough they will feel honored for being chosen. this is one of the most important committees that will be there in a decade. maybe president obama should give camp david to the supercommittee to go every weekend because if they can get to know each other as individuals, not as ideological rivals, maybe that's part of the answer. that's part of what's wrong with congress. they don't have friendships across party lines, they don't spend time together like they used to on the weekends, they don't play poker, they don't drink together. so stick them somewhere, and maybe they'll think about the welfare of the country rather than their own individual needs. the problem is that the election is pending, the presidential election, and that means that both sides are more be likely to think about what's good for our team. but this is such an important job they've been given to do, and we've got to hope that they'll remember that they're legislators and they came to washington to do something in the first place, and this could be an honored moment in their

lives. rick: historically speaking, does big stuff get done, get accomplished so soon before a presidential election? >> it's really hard. i mean, that's the worst time. you're absolutely right. but on the other hand, they know that if they don't accomplish something with this supercommittee, then those cuts are going to come in defense and in domestic spending. and that may serve as a sword over them to say we'd better do something because something that we create will be better than that kind of across-the-board cut. rick: one of the things i love about talking to historians like you is you can teach us there really isn't any storm our country hasn't already weathered successfully before. so maybe we can look to the past and be hopeful for our future. what do you think? >> oh, america has come through a lot worse before, and you're absolutely right. we've been through valleys, and we've somehow managed. confidence is part of the problem. we've got to restore that confidence. we still remain a great nation. rick: doris kearns goodwin, thank you so much for your time and perspective. great to talk to you today.

>> you too. take care. jenna: that's a good way to kind of wrap up the week, a little perspective there. major controversy in the meantime surrounding texas governor rick perry and a christian rally he's hosting. critics accusing him of blurring the lines between church and state. it's now easier than ever, by the way, for you to take fox news wherever you go. find out how to stay connected with your mobile device, get fox news alert, streaming live video and watch the latest clips from your favorite shows all on the go. we'll see you in just twoemen minutes. or annuity over 10 or even 20 years? call imperial structured settlements. the experts at imperial can convert your long-term payout into a lump sum of cash today. helps defends against occasional constipation, diarrhea, gas and bloating. with the strains of good bacteria to help balance your colon. you had me at "probiotic."

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ask your rheumatologist if enbrel is right for you. jenna: big day today. we had the jobs report, a rocket to jupiter -- rick: jupiter, that's cool. jenna: the stock market. rick: yeah. doing a little bit better. jenna: you also have rick folbaum's birthday today. rick: oh. jenna: happy birthday. you don't look a day over 25. [laughter] rick: i'm not, what do you mean? jenna: have a great birthday. rick: nice to s