bash ir. >> he's busy. >> can you ask piers morgan how it's going. >> i'll give it a shot. >> andrea mitchell in for chuck todd. have a great weekend. what women the i am packet be on markets after the dow plunging more than 500 points. as markets fall, disapproval of congress soars. 82% disapprove of the way congress is doing their job. harry reid announces a bipartisan deal to reopen the faa. 74,000 transportation and construction workers can get back to work. a short term fix after labor day they'll be right back where they started, gridlock. it's friday, august 5th, 2011 and this is "the daily rundown."

and we begin with the jobs report providing some small relief, a silver lining i guess to what has been a gloomy economic picture. 117,000 jobs were added last month, that brings the unemployment rate down to 9.1%. mark zandy is chief economist of moody's anl lit ticks and joins me now. the reaction is going to be some relief but it's still not enough job creation to even keep up with the pace of population growth. mark, what's your take? >> well, you're right. but i'll have to tell you, i feel relieved if it was a bad number in the context of what we've been seeing in the stock market, it would have been a pretty ugly day. this is a very good number in that context. you're right, andrea, that this isn't enough. i mean just to stabilize unemployment, we need consistent monthly job growth of 125 to 150

k, we're not there yet butoi re. that would be disastrous. >> i want to ask about that. a growing number of economists and commentators have been saying there is a risk of a double dip because of what's happening in europe, the way the markets reacted to it and the general psychology, the feeling of gridlock and despair, 82% in the latest new york times cbs poll expressing strong disapproval of congress. what is your belief? is this jobs number enough to avoid a double dip? >> i think we will avoid a double dip. the economy is really struggling. can't discount the possibility that the economy would push back into recession and i think you put your finger on a very important point. that is confidence. confidence is very weak. people are shell shocked. if anything goes slightly off traffic, european debt problem for example, the bickering in

washington, it unnerves people and they freeze, they stop spending, businesses stop investing and stop hiring. it's really in my mind a crisis of confidence. we are just so nervous. we need to get a break here and hopefully policy makers make a few good steps here and in the u.s. and in europe and i think confidence will re-establish itself and be off and running. but it's going to be a tricky time and i wouldn't completely discount the possibility of a double dip. >> and mark, when we talk about policy makers taking good steps, haven't they used up all of their ammo. back in 2008 and 2009, ben bernanke had options, extraordinary options he used but now everything has been spent. >> well, you're right, we don't have the same kind of ammunition policy ammunition we had two or three years ago but we still have ammunition. we're only limited by our own minds. the federal reserve could turn aggressive again and engage in another round of quantity take

tif easy. i don't think they need to do that yet but they could do that. i don't think fiscal policy makers are out of room either. it would be prudent to consider the pay control tax holiday and u.i. benefits and helping the states out. many states have busted unemployment insurance funds. if they don't get help, they'll start raising taxes on businesses and that would be particularly inopener tune. they have room and i think they should use it. we need to get the economy going. they did a great job -- it is con tra to the consensus view, it is a big step towards sustainable but we need to make sure it is moving forward and i think there are things policy makers can do and i think should do. >> more upbeat than most, that's a good way to start the day. thank you very much, mark. now let's get to our first reads

of the morning. with just 15 months left now -- 15 months, until the presidential election, time is running out for any good news on the jobs front for president obama. and here's white house press secretary jay carney on thursday. >> the white house -- the government together white house congress, creates policies that allow for greater job creation. >> patience is wearing thin and the president knows it. today he heads to washington's navy yard to talk about helping military veterans find jobs. on the republican side, the big question is, who's going to benefit the most in a fight over the economy? does the bad news boost mitt romney or push rick perry into the race who touts big job growth in texas. he'll in the spotlight at a christian prayer rally. there is good news for some

federal workers, congressional leaders did reach a deal on temporary funding for the federal aviation administration putting an end to a two-week furlough of 4,000 -- 74,000 workers and pay gs the way for tens of thousands of those not getting construction workers have not been getting to work. congress hopes action like that will help their image. the new cbs news new york times poll has disapproval rating at 82%. the deepening economic crisis is of course casting a big shadow over the re-election bid and will remain a challenge through election day. mark murray is the nbc political director and joins me now. mark zandi said there were some things policy makers can do but we've seen no sign of any kind of will to kproe nicompromise, opposite effect. he's talking about veterans unemployment, which is at a higher rate than everyone else's

13.3% for veterans since who are returning since 2011 as -- rather since 9/11. >> you'll see the president pull out a whole list of proposals and policies the government can do. the question is whether congress can really get those things done. the president will say, we need a new payroll tax and benefits for veterans, it's going to be very hard to get things done. the one thing you might see the president do is campaigning against congress. you mentioned the new york times cbs poll disapproval of 82%. the president on the bus tour says there's a do nothing congress that won't get anything done. these are the policies that need to be enacted. he might make a little political hay there. >> and the tea party is down in that poll as well, down to 20% aproflg. they did not benefit at all from the gridlock in the last couple of days. >> neither did john boehner who's disapproval number went up in the poll. >> partly because people began

to realize exactly who john boehner is. he was much more high profile. what about the republicans? does anyone benefit from this? >> i think the whole field benefits, mitt romney has been making that economic message. rick perry, who has a good economic record could also benefit. you're going to see the obama administration and re-election campaign make this into a choice. mitt romney says i'm a turn around expert and can make the economy work. you'll see democrats say look at what he did when he was governor of massachusetts, look how he made his money, by laying off workers and taking over companies. that would be a constant message if rick perry is the nominee, you'll see democrats say, well, texas's economic record was good but look at education ranking near the bottom of states in the country. >> interestingly as the national journalists pointed out texas job growth is because of the energy sector and public

employment which contradicts the whole national republican message. it's state municipal jobs that have really grown to keep pace with the influx of innovation in texas and expansion in the industry. >> and you've seen in texas just in the last several months a lot of teachers have since been laid off due to their own budget deal. that's the big story in this entire jobs number, private employers out of 154,000 jobs but the overall number was 117,000 due to a lot of layoffs in the public sector. >> what about the rick perry -- the big religious rally, the summit on saturday. there's a lot of controversy because of some of the people, john haguey and others who are participating in this. do we expect that governor perry himself will be a prominent speaker? >> it's a general election problem for rick perry. if he ends up speaking, we're not clear one way or the other. i wouldn't be surprised -- >> i would bet he does. >> it is a general election

problem. you're seeing gay rights groups favoring the separation of church and state railing against what's occurring. if rick perry decides to run for president, this is oeblg a good thing, makes him the candidate of evangelical christians and compete with michele bachmann. >> helps in iowa and other parts of the republican ee lek tore rat south carolina as well, the early primary states. thank you very much. it's going to be an exciting weekend and only another week. >> absolutely. >> another crisis averted on capitol hill. the faa on its way back into business after a partial shutdown. that put tens of thousands of paychecks on hold. we'll get into the details next with kay bailey hutchison speaking of texas. he has been president obama's ear on the economy and eyes for the past year. goolsbee is leaving the white house heading back to the white house. he's joining us for a special

"daily rundown" exit interview. first, a look ahead at the president's schedule today. you're watching "the daily rundown" on msnbc. i love that my daughter's part fish. but when she got asthma, all i could do was worry ! specialists, lots of doctors, lots of advice... and my hands were full. i couldn't sort through it all. with unitedhealthcare, it's different. we have access to great specialists, and our pediatrician gets all the information. everyone works as a team. and i only need to talk to one person about her care. we're more than 78,000 people looking out for 70 million americans. that's health in numbers. unitedhealthcare. ♪ yes! ha ha! ♪ [ clicking ] dad, what happened? power went out, want a hot dog? [ female announcer ] oscar mayer selects are made with 100% pure beef and have no artificial preservatives. they're a great way to re-connect with your family.

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congress is on the verge of fixing the mess that the president called a self-inflicted wound and that partisan fight over the faa that sidelined 74,000 workers. later today senate leaders are expected to approval legislation reauthorizing the agency at least short term. with me now is texas republican senator kay bailey hutchison, ranking member of the committee that oversees transportation. senator, before we talk about the faa, i want to ask about the jobs number. it is marginally better, some

are breathing a sigh of relief but it's not enough jobs growth to really get nrmal popu arela saying that all you talk about austerity and balance budgets which you supported is the wrong direction that we need more investment. >> andrea, first of all i'm very concerned about the jobless rate and i think the only way to handle the jobless rate is to look at at the overburdening regulations and obama health care that is causing a freeze on hiring. i talked to business people from texas and other places and they are not going to hire until they know what the true cost of the obama health care plan are and then all of the talk of new taxes on top of that that's really frozen employment. i think we've got to continue to bear down on overregulation and these costs that we're putting on businesses if we're going to

get a real recovery. in my opinion, the only real recovery is when people go back to work. >> senator, the latest polling shows now the new york times cbs poll, 82% of people angry at congress. that is such a high disapproval rating. where -- how do you respond to that? those of you who are in the lead areship and seen it in good times and bad. this is as bad as any of us have seen it. >> that's correct. there's no putting a spin on that. it's just terrible. and i think it's because they see there is such gridlock and we can't move to solutions. i also think, andrea, that we have a true divide in philosophy. and i think there are very differing philosophical views and it's a true battle. battles are not pretty but i do think that we got to move in the

right direction and of course, it's small steps in the right direction but no doubt about it, people are frustrated with government. they are frustrated with politicians and frustrated with congress and the president. so i think it is a tough time for people, especially people who are suffering and that causes bad feelings. >> do you think that members of both parties are going to get the message and when you come back after labor day, that there will be an effort to first of all -- faa long term, not just the short term patch and appoint people to the super committee that might want to get something done rather than result in gridlock ten weeks later which puts us into a trigger that could be the worst thing for the economy right now? >> i definitely believe that mitch mcconnell, i've talked to him about what his view is of this new super committee. and i know that his first point is going to be appointing people who want to get something done,

who want a solution that will be real reform, entitlement reform and spending cuts that can be sustainable. so i know that he is going to appoint people that will have that view. it is essential that we continue to come down on the deficit. we made a very small step in the right direction cutting spending $1 trillion. but we've got a massive debt and it's got to come down more, which means in my opinion, you've got to look at entitlements if you're going to look at the long term. >> senator, i wanted to ask you about rick perry because the governor and i know you ran against him for governor, now holding this christian prayer summit tomorrow. and there's rather controversial participants, including reverend john hage who as a history of saying controversial things of talking about catholicism as

a -- the catholic church as the great whore, katrina was god's punishment of new orleans, do you support or agree with what the governor is doing on this? >> i think that it never hurts to have people gathered together and pray. you know, i think that -- i don't even know who the participants are. i haven't really looked at the details of it. i'm sure they are very good people also participating. but you know, prayer is never bad. as long as it is praying to a god that we all agree is there and asking for help through a crisis that we know is upon us. >> but should the governor be making this a christian event and many people say violating the separation of church and state and making it specifically christian rather than acue men cal? >> certainly this is not a

government state of texas function. i think he has been specific in saying that it's a private function, that christian leaders came together and wanted to do a day of prayer. and i think that he is lending his support to it, of course and maybe leading the effort, i'm not quite sure. but i don't think it's a state function and of course that is important. >> senator, do you think he's going to be running? if he does, would you be supporting him for the republican nomination? >> i do think he's running. i think that's very clear. he's putting all of the building blocks in place. i don't know what i'm going to do. i'm looking for the candidate who can win. i want a candidate who can fix the economy. i'd like to see someone with the experience necessary to do that and so, you know, we'll look at the field and we'll go forward. >> do you think he has the experience to be the winner, to be the nominee and to be

president? >> well, he certainly has government experience. i've always felt like we need people who have been in the private sector as well and who have actually created jobs who know what the population does to hiring. what i think is wrong with the obama administration is we don't have enough people in the administration with real business experience. academics and political organizers don't really know how to create jobs. and i think that's what has been our problem for the last couple of years and now i hope we're going to move forward and try to get this debt situation in place and then i do hope we will have someone with more business experience in the white house. >> senator kay bailey hutchison, that was a great pivot and very diplomatic and i give you credit for that. thank you so much. >> you're the best andrea, great to talk to you. >> have a great weekend,

senator. >> thanks. >> and after the worse trading day since 2008, stock futures are on the rise. up next, we get a check on what's moving the markets ahead of the opening bell. first today's trivia question. what is the longest amount of time the u.s. has gone without admitting a new state to the union? tweet us at daily rundown with the answer. the first correct answer up next on the daily rundown. [ woman ] welcome back, jogging stroller. you've been stuck in the garage, while my sneezing

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the opening bell is about to ring on wall street. can the markets recover from the free fall? melissa francis joins us now for a market preview. slightly better but certainly not real growth. >> we are seeing -- it looks like it will be a positive open. we're seeing futures turn brighter on one thing in particular. we got the july jobs report that showed the economy added 117,000

jobs, even better showed the private sector added 154,000 jobs. we saw an up ward revision of almost 60,000 jobs. we have two problems right now, european governments are crippled with debt and are having a harder and harder time figuring out the banking system. the second part of the problem is in the u.s. the economy is having a tough time recovering, we're seeing the recovery peter out and stall a little bit. this addresses the second part. that why maybe traders can hit pause and reassess. we're seeing a little recovery in stocks. however, it's a long trading day out there. we have a long way to go before the close, andrea. back to you. >> thank you very much still ahead outgoing chairman of the council of economic advisers austan goolsbee, we'll cover where he's heading next and what are the 2012 republican hopefuls

saying about the market meltdown? the ground game heats up in iowa, you're watching "the daily rundown", only on msnbc. e non-sy starts with back pain... and a choice. take advil now and maybe up to four in a day. or choose aleve and two pills for a day free of pain. way to go, coach. ♪

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don't weaken the clean air act. bottom of the hour, i'm andrea mitchell in for chuck todd. here's a quick look at what's driving the day. the opening bell has rung on wall street. investors are trying to pick up the pieces from yesterday's free fall and react to today's somewhat optimistic job numbers. a tax credit for companies who hire vets is one part of the plan the president will be outlining today. and combat soldiers will soon be getting much needed rest. at the height of the war in iraq, soldiers endured 15-month deployments with as little as one year off before shipping out again. the army will announce today soldiers will be deployed for nine months and get more time at

home before redeployment. it's about time that happened. libya's government is denying claims that one of president gadhafi's youngest sons is among those killed in an air strike. he leads one of gadhafi's top military units. nato says they cannot confirm the reported death. new shelling in the syrian city, government forces are blocking food and supplies from entering the besieged city. human rights groups estimate as many as 200 people have been killed in this week since the crackdown led by president assad's regime and reports of a worse massacre taking place that we cannot find out about. there's no relief from the brutal heat gripping much of the nation. nearly a dozen states are under excessive heat advisories, including texas. dallas is on pace for breaking record for the most consecutive days of 100-degree heat. republican candidates were quick to respond to yesterday's stock market slide. >> it's a day of market tanks,

500 plus points, ladies and gentlemen, there's no confidence in this economy. there's no confidence in our direction. i'm here to say it is un-american. >> the slide of the dow today being such a large number is the market's reaction to the debt deal which didn't solve the problem of reducing the debt. >> everywhere i go you get the same message, that the bureaucratic socialism of the obama administration and the centralized control by bureaucrats is driving jobs out of the united states. >> what's gone wrong is we don't have a president who understands that we need to have a private economy not just an government economy growing. >> david druker and matt mccove yak and cynthia tucker, all joining me now. some relief, the jobs numbers but david. what we're looking at is an

economy either stalled or going backwards. and very few options for the president. this is a field day for republicans. >> well, look, all of this is about expectations and what i find interesting is that 117,000 jobs created when need more than 250,000 a month to actually do something about unemployment, is considered good news. because the expectations were so much worse. for the president, he's in a tough spot. i often find over the years presidents get more credit and more blame than they deserve. and there's very little he can do about this except try and put into policies -- put in place policy that's can create an atmosphere for job creation. i think he'll have a tough time making a dent in the unemployment rate between now and next summer and that's a huge problem for his re-election. >> the news for republicans is that they -- it's almost a free shot for them, matt, if you're a republican strategist on any of these campaigns, you beat up on the president and say you can do

a better job. >> that's right. you say the recovery so weak, he's not only made it worse but it hasn't recovered to the extent it should have. i think the psychological impact of the economy as you can see two statistics, unemployment rate and price of -- dow for investors for people with pensions but it's those two people pay attention to. you talk about the stimulus and the obama care bill and regulations put in plagt, republicans can argue he has increased uncertainty and had a target on job creators from the very beginning. >> when the president had his pre-birthday celebration in chicago trying to raise money for the campaign, he said no one said change would come quickly. that's not a great bumper sticker. >> that's a terrible bumper sticker, while i agree with david that presidents get more credit when the economy is good and more blame when it's bad and this is a global mess, let's

bear in mind. there are several things the president did wrong here. the biggest one is allowing republicans to change the narrative. so that we've -- all we've been hearing is that we need to con quer the debt, we need to conquer the debt. no mainstream economist says what we need to do at the moment is conquer the debt. the u.s. had a long-term debt problem, not a short-term one. what we need to do at the moment is invest more, give people bigger unemployment benefits so they have money to spend and that creates demand. >> let's talk about the republican field right now. we're a week ahead of aims, when you look at what they are trying to do, david, to sell themselves to the voters it's almost a field day. >> the interesting thing about aims, it doesn't matter on the republican side of the aisle the way we would like to think it does. i can't remember the last time winning it meant you were a shoe in to really move forward and

win the nomination. as important as it is for certain candidates and that is what we're watching for, how does pawlenty do and does michele bachmann deliver in terms of expectations for success in iowa? there are other straw polls coming and what it means to me, this is the real kickoff of the republican presidential race. no longer after ames will i say, it's too early. >> matt, in terms of the expectation game, how does bachmann have to finish in the straw poll, for instance? what about pawlenty is this a crisis point? >> you have a bad straw poll and focused on eye way for the caucuses and you don't perform and underperform, it's going to be hard to sign up volunteers. there's four candidates who need to finish in the top three,

bachmann, pawlenty, her mmann ce and ron paul. pawlenty needs to do well in iowa. i think he has the best organization so i thnk ke do well but bachmann is the person with momentum. >> the stuff they are doing and things they are handing out and trying to get people to come to the straw poll for them, we're talking about really small numbers but this is retail politics at its best or worst but it's wonderful. it's iowa. >> herman kaine's god father pizza, the straw poll is absolutely inconsequential in the long term. but it does help us in the news media create a narrative. that narrative helps to draw a fund raising. the candidate who does not do well or falls out of the top three is unlikely to draw very much money going forward. >> as we saw tim pawlenty is already pulling ads down, he's

already in a crunch situation. cynthia, wanted to ask you because you know the bible belt so well but the impact of what rick perry is doing in drawing together what he has defined as a christian prayer summit and having people like john hagy and others being part of it. >> it is absolute red meat for the republican base. rick perry knows exactly what he's doing and all signs point to his getting into the presidential field. why else would he do this now? it draws attention to him on this very important weekend in iowa. and this is exactly what other republican base wants to see. it gives them an alternative to mitt romney, who many of them are uncomfortable with. they want an evangelicaevangeli. it would give perry a problem in the general election but gives a lot of strong support if he

decides to get into the presidential field. >> matt, you know the area really well. this is red meat for the base. and it could propel him and i was just interviewing kay bailey hutch son having lost to rick perry, she says he's a candidate. >> she's my former boss. i agree with her encouraging prayer is not a bad thing. i understand there's a question there. keep in mind this was set up before he said he was going to consider running for president. i do not believe it was part of his presidential plan. it's an event that he doesn't own. if he can do it -- >> i think i would bet right now from what we're hearing he's going to be speaking. >> i suspect that's right but he wants to have some flexibility in case there's controversy. you'll get past amess, get in the last week in august and be the one holding the cards, the last candidate that can dramatically shape the field. it's going to play nicely into the field. i think he's going to be the

anti-romney candidate. >> david? >> this is what happens when you're a governor and things you do work great when you're a governor only playing to a local constituency. then you get on the national stage and all of a sudden it causes you problems. don't forget, the evangelical vote is still important but tea party activists are concerned about the economy, that's where the focus is. if you're making a play to rin the republican nomination this year, i don't think this kind of event is what you design to do that. i think that perry's team is kind of caught up in getting into the race at the last minute and having previous commitments as governor get in the way of that, it will be interesting to see who shows up at this event. it was designed to attract other governors, they are not showing up. they are not sure if they can even fill like one eighth of the stadium where it's designed to be held. it's -- i wouldn't read too much into the evangelical vote because i think it's slightly

less important this year than it was four years ago. >> we'll be back in a bit. but first, our panel will be back later this half hour but coming up, jon stewart accused him as being giddy as a school girl about leaving his post at the white house. what's on ausstan's goolsbee's mind. the soup of the day is gumbo. you're watching qult the daily rundown" on msnbc. i love that my daughter's part fish. but when she got asthma, all i could do was worry !

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welcome back. let's bring back our panel, david drucker and cynthia tucker. welcome back all. we were just talking about what the republican field does in terms of the base and the

economic message but matt, the economic message is better for who? is it better for mitt romney, rick perry? who has a head of steam when it comes to the economy. >> that's an interesting question because everyone can talk obama's economic records but what policies will you put forward. pawlenty put forward a economic plan and the rest of the candidates have done that. romney hasn't but specifics out, supposed to do that in september. i think governor perry will do that when he talks about the economy around the clock, what worked in texas and what hasn't worked in washington and let people make a choice. herman cain has a strong understanding, senior executive in three fortune 500 companies, a lot of these people have understanding of the economy threw the government or private sector. whether they can find the right sort of note or thread to talk

about how obama's policies have failed and what they would do instead is going to be the key question. >> the president's policies are put to the test. >> the president's policies have been put to the test. i don't think, however, you're going to see either romney or perry or any of the other candidates who have survived over the next couple of months put forth a proposals with a lot of specifics. i think instead they'll continue to bash obama on taxes and on regulation and on the stimulus, i happen to believe that the stimulus kept the economy from being even worse. as we know, that's not a great sell. so republican candidates will continue to say you can't spend your way out of this recession. >> david druker, the latest polling shows such distakdain a

the results of this hideous debate we've had all summer have been pretty dreadful for everyone. >> i think how americans feel about congress in a presidential election cycle is less important than it would be in midterm. this is still going to be all about obama and if he somehow comes out of this and does really well, it's going to help lift democratic candidates and stem some of the damage in the house and senate races. if he doesn't and the republicans do well, it's probably great for mitch mcconnell's hopes of becoming the majority leader and good for john boehner remaining speaker. joining us for the last time in his role of economic advisers, austan goolsbee, thanks very much. >> how are you? >> i guess you're better today. it could have been worse as the headline out of the jobs report. let's get your immediate reaction to what we're seeing and not seeing. >> as i say every month, you never want to make too much of

any one month report because they are quite variable. it was certainly an encouraging development that we were way above expectations. the private sector added more than 150,000 jobs over the last 17 months, we've added 2.4 million in the private sector. now we've taken heavy blows the first half of this year but we got to grow our way -- we have a long way to go. we're going to need to grow our way out of this and having sort of broad based job growth across a lot of industries as we saw in this report is definitely a good start. >> it still is not enough to keep pace with population growth. it's not enough for real recovery. so what do you do? i mean the president is talking about initiatives today for veterans to try to help the 13.3% unemployment rate among those veterans who have served since 9/11, which is appalling, but aside from small steps that can be taken, what broadly can the president do especially with so much opposition in congress?

>> well, i would say first if the economy is coming back, that's going to make a very big difference. second, on specific policies, as i said last month, even if this is better than expected, it's still a call to action. we have a long way to go. i guess i don't understand why we don't do those things that there's bipartisan support for which are not small things. pass the free trade agreements and extend the payroll tax cut, pass the infrastructure bank so we can leverage public money with private investor money to try to build out the infrastructure, pass a patent reform bill, a series of things that both parties have advocated and have drafted even in the recent term but they've all been sort of stalled while they were arguing about the debt ceiling. >> what are the chances, do you

think of a double dip recession, a lot of economists are beginning to talk about, not only because of what's happening here and loss of confidence, confidence, 82% disapproval in congress, but what's happening in europe which we can't control? >> the important thing is to address the problems that you can control. clearly the events happening in europe have added uncertainty, and it certainly didn't help that we had a month and a half where members of the government were up saying maybe it would be okay if the u.s. government defaulted. fortunately we're past that point. i think you've seen a number of the private sector economists and the fed forecasting a rebound in the second half of the year. it's not a secret, we took some pretty heavy blows in the first half of the year with gas prices, with japan and with the events in europe. i think if we're growing, that's what the focus has got to be. when people start talking about

double dip recession, it's from not growing that you get to that. if we're adding jobs, it looks much different. >> won't the big losses in the markets play into this though? doesn't that now become a major factor in confidence and in business spending and hiring? >> well, i think it's not a secret that there was a big hit to confidence over the last couple of weeks. i think some part of that was due to the uncertainties caused by sort of the absolutist positions that folks heard coming out of congress. you've had uncertainties coming from europe. it seems like the market reacted well to getting these surprisingly good jobs report today. it wasn't just people's happiness i was leaving. i think as we go forward, what matters are the real fundamentals of the economy. if we're adding jobs, if we're growing, if we're doing these bipartisan things that can get

people back to work or help those people who are at work who are all struggling, i think you're going to see that reflected in the confidence data and in others. until we do that, you're not going to see it reflected in those data. >> i'm glad to see you have not lost your sense of humor. you're going back to the university of chicago business school to be a professor. we're going to miss you. i hope we'll still you on the "the daily rundown." i think you're going to be on "meet the press." >> on sunday. >> well, you and your family and everything you've contributed, we want to thank you for keeping, as i say, your sense of humor in a really, really tough job and surviving the construction on the north lawn of the white house as well. >> look, i appreciate it very much. i've enjoyed talking with you and everybody over there. i'm just going to be sitting on my front porch in chicago. i'm happy to talk whenever you

want. >> i don't think you're going to be sitting and relaxing too much. thanks. austan goolsbee from the white house. major medical. ...but it helps pay the doctors. pays the doctors, boyyy! [ quack ] oh yeah? what about your family? ♪ we added aflac, so we get cash! it's like our safety net... ♪ to help with the mortgage or whatever we need! so my family doesn't feel the pain too. ha! [ male announcer ] help protect your family at aflac.com. [ pigeons ] heyyy! hooo!!! yes! ha ha! [ clicking ] ♪ what happened? power went out, want a hot dog? [ female announcer ] oscar mayer selects are made with 100% beef and have no artificial preservatives.

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>> before we go, we want to answer our trivia question. we asked what is the longest amount of time that the u.s. has gone without admitting a new state to the union? the answer is 51 years, 11 months and 15 days. that's how long it's been since hawaii became the 50th state. august 21st, 1959, the longest stretch of time without a new state being added. that's it for this edition of "the daily rundown." chuck will be back on monday. coming up chris jansing and company. at 1:00 p.m., don't miss andrea mitchell reports. among our guests, hilda solis and john kerry.

>> i'm meteorologist bill cares with your weekend forecast. as we go through saturday, a lost people have a chance for afternoon thunderstorms especially in the southeast, even people from new york to philly and d.c. will be ducking storms. the big story is the record heat in texas. cooler on sunday in dallas, but not much, still well over 100. 3q double shift... i need a break.

he needs some gellin'. yeahhhhhhh. gellin' is like having a teeny tiny foot masseuse in your shoe. you like ? nice ! dr. scholl's massaging gel insoles. outrageous comfort, all-day long. >> very good morning. i'm richard lui in for chris