law firm, and get you guys together and talk about this interesting point. tomorrow night, one of the greatest rappers of all time, 50 cent will be my guest. he will be here to hit it all, like it's your birthday. be sure to tune in, that is "the ed show," and ezra is filling in for rachel. >> i'm looking forward to seeing that interview. >> no doubt about it, my brother. >> have a good night. >> you as well. >> rachel has a night off, we have a ton of news on the show tonight, the last seen of caddy shack happening in real life and my run at doing something that has never been attempted in the history of prime time television. we begin with the best things i've learned since being on twitter. it's the humble brag, you brag but wrap it in a complaint so it

does not sound so much like you're bragging. i'll show you what i mean. here is adam levine, we got mobbed at the airport, i thought we were justin bieber. see? we got mobbed, brag, but they thought it was justin bieber, humble, they did not realize it was us. or john moe, the fact that -- >> so, wikipedia lists me, brag, and that speaks ill, humble. the greatest has to be tila tequila, she tweets this is so unfair, why did the lambo dealership not tell me i'd get pulled over at least once a week in the car. lambo means lamborghini, she

hates it because it looks fast and police are pulling her over. life is tough in a lamborghini. the president gave the latest speech that is reframing the election. >> over the next five months, this election will take many twists and many turns. polls will go up. and polls will go down. there will be no shortage of gaffes and controversies that keep both campaigns busy and give the press something to write about. >> so, reminder, a humble brag is a boast wrapped in a splint, a humble jab is an attack wrapped in a self complaint. it was a jab that the media has been gaffed obsessed wrapped in a joke about how he made a gaffe.

jab well taken, the media has gotten a bit gaffe obsessed. meanwhile, mitt romney was trying to reframe the president's speech that was in turn trying to reframe the campaign. >> you may have heard that president obama is on the other side of the state and he is going to be delivering a speech on the economy. he is doing that because he has not delivered a recovery for the economy. and he is going to be a person of eloquence as he describes his plan, but don't forget, he has been president for three and a half years and talk is cheap. >> that was romney's line this afternoon. and it has been his line throughout the entire campaign. obama may be a good speaker, a experienced leader but he is not a good leader. look at the economy and unemployment numbers, do not

listen to him, he is too good of a talker. he will trick you. romney's line follows the convention that the election is a referendum on the incumbent. the president's speech was trying to change who or what is the incumbent. the president argued that while mitt romney may be the challenger the republican policies of the kind that mitt romney are proposing are the incumbent because they are responsible for the mess we are in today. 68% of americans think that george bush bares the responsibility of the state of the economy and 52% say that for obama. that is why obama said we need to begin with an understanding of how we got here. >> we were told huge tax cuts, especially for the wealthiest

americans would lead to faster job growth and fewer regulations, especially for big financial institutions and corporations would bring about wide-spread prosperity. we were told that it was okay to put two wars on the nation's credit card that tax cuts would create enough growth to pay for themselves. that is what we were told. so how did this economy theory work out? for if wealthiest americans it worked out pretty well. over the last few decades the income of the top 1% grew by more than 275% to an average of $1.3 million a year. big financial institutions,

corporations, saw their profits sore. but prosperity never got down to the middle class. from 2001, to 2008, wed the slowest job growth in half a century. the typical family saw their incomes fall. and in the fall of 2008, it all came tumbling down with a financial crisis that plunged the country into a great recession. >> this policies made up the core of obama's case against romney today. >> governor romney and his allies in congress believe deeply in the theory we tried in the last decade, the theory that the best way to grow the economy is from the top down. so, they maintain that if we eliminate most regulations, if we cut taxes by trillions of dollars.

if we strip down government to national security and a few other basic functions, then the power of businesses to create jobs and prosperity will be unleashed and that will automatically benefit us all. that is what they believe. this -- this is their economic plan. it has been placed before congress, governor romney has given speeches about it and it's on his website. >> so that obama argued is the real choice in the election. romney might say obama's policies have not delivered a recovery quickly enough, but obama is saying that romney's policies delivered the cries is in the first place. the obama's campaign line of attack points to a problem for the romney campaign in the coming months, where can they show a sharp break with the policies of the bush administration. they support the extension of the bush tax cuts and wants more

on top of that. like the bush administration, they stress a need for less regulation, including in the financial sector which they think is overly burdened by the dodd-frank reforms. they have taken a hawkish stance on foreign policy, saying the hard line he would take on iran is a central difference between him and obama. like the bush administration, their claim is that the government needs a ceo mind-set, that a candidate who spent his life in business understands the economy better than one that spent his time in public service. this is a question that the romney campaign will have to answer. how is this not just back to the future. they have not come up with a good answer yet. this was a question asked on a show. >> how different is that concept

>> that program, just updated. that is not speaking nor the romney campaign, but they need a better answer than that. joining us now is nicole wallace, former director for the bush administration and a senior adviser for the mccain palin example pain and author of "it's classified," just came out, and a new mom, congratulations on all these wonderful things. >> thank you, thank you for having me, i wish you were here in new york, you could have endured the navigation of new york, bieber is due in town, so

the traffic is heavy. >> what is the romney's answer to this going to be? how is romney going to separate his policy agenda from george w. bush's? >> you have tied my brain in a knot, and luckily for me, i write make believe books, that that is a fun and smart question and i think on the left it animates barack obama's coalition, not just the liberal base, but some of the people who have become a little disaffected with his record and his tone and his rhetoric, and i think the speech, i'm not a fan of reframing. i think another thing that they call it in washington is changing the narrative, i think in reality there's only a couple of opportunities in a presidential campaign to do that and any given wednesday is not one of them. you can do it in a convention speech or one of your nationally

televised debates, it's a good question and good line, and you should keep pushing it and see what the romney campaign says, but the voters concern is not going to have anything to do with george w. bush they could care less. and frankly the more obama and the voices to left talk about george w. bush, the more turned off they are by obama. so, most republicans are hopeful that this conversation goes on all the way to november. but i promise you, i promise you obama will get the message and you will not hear him talking about bush anymore. he is laying the foundation now, upon which he will start to defend and build out his vision for the future. because presidential elections are always, always about the future. >> absolutely. so i agree with almost all that. and i should say, there's nothing more i hate in politics than reframes. >> right?

>> i think it's a bit too quick to say that this -- the bush years will not be relevant, i think they will not be relevant if mitt romney is able to say in a way, that team find persuasive, i have something new for you, something that you've not heard before, what i guess i have not seen from them all that much of what is new, and to me, they have the ryan plan, but they have yoked themselves as close as they want to get to that, so you have a bit of a funny election, barack obama is in a tough spot, he has to run on his record and the economy is rough and he has ways to defend it, and they are difficult, but romney has to say, i have something that we have not tried before. in an election like this one, where both sides are having a bit of trouble telling the people, this is why you trust us for four more years, he has to have an answer too. >> i agree with you, what we did not have in '08 was a debate

about economic policy and traditional right/left economic policy because both men were evaluated on their ability to go flew a crisis, our economy was in crisis, so the voters were evaluating then senator obama and mccain on their ability to get through the crisis, and the voters saw obama as more steady, but neither man had to layout a vision for the future, you know, we did not have a normal economic policy debate the -- a normal economic policy debate, the way it takes place as the economy is collapsing around us, remember, if you go back to '08, people were afraid that they would go to the atm and nothing would come out. so we will have the first debate about economic policy in many elections because in '04 that was an election and that was the first presidential election after 9/11, we have not seen

this since president clinton was running to democratic side, so we will have a debate in this country about whether certainty, whether tax relief, whether government -- we are going debate all these things and voters will decide and obama just does not have a record, he has a record of statements, he has now passed a government stimulus that he did in a partisan manner. and it was his prerogative, that is one way to go about it, and many think it's the right way. republicans don't and the fight will be about whether the middle of the country feels it's the right way. >> we will have you back to talk more on this, but for now, nichol wallace, the author of "it's classified," congratulations on your wonderful news and thank you for being here tonight. >> thanks so much, have a great night.

>> vig -- sheldon adelson gave millions dollars to newt gingrich. he was just warming up.

love him or hate him and i bet for a lot of you it is the under. karl rove has a habit of identifying his allies most

glaring faults and pinning them on his rival, some call it projections and i like to call it i'm rubber, you are glue, everything that you say bounces off of me and sticks to you with a billion dollars of advertising plenty of politicians use this. but karl rove is in a league of his own with this. they might name the hall of name after him, in fact. in the bush white house he had a habit of baring bad news by releasing it late on friday afternoon, and now he has criticized the president for releasing bad news on friday afternoons. he has accused the obama team of being in a permanent campaign. he is now accusing the president

of trying to win by relying on an endless barrage of ads. he out did himself this week on the sean hannity show and predicted what the president and his allies would do to win or try to do to win. >> they will do it by trying to take their wallet and buying it. >> in fairness to mr. rove, if he were making this argument four years ago, he may be able to present it with a straight face. in that time, the president was one of the most prolific fund-raiser that anyone has seen. he benefitted from a huge financial advantage. four years later, however, rove's argument is unbelievable. and under the circumstances more than a little ironic. politico reported that republican super pacs and other groups shaped by a loose network

of prominent conservatives planned to spend a billion dollars on november's elections and all of that will benefit mitt romney and other gop candidates this includes the koch brothers and their americans for prosperity, but also, wouldn't you know it, karl rove's own crossroads operations, indeed, rove's operation just by itself, separate from all the other outfits is on track to raise $300 million for this campaign cycle alone, to put that in perspective, rove and his friends will collect as much as mccain/palin raised and they were the candidates for one of the two major political parties. this will come on top of the money raised by mitt romney and other allies, the combined total of $1.8 billion, is unlike

anything that the nation has ever seen. and karl rove, the one accusing the president of buying the election is at the heart of it. the other problem with rove's claim is that he has bad timing in making it. on tuesday afternoon, he claimed that obama tends to buy the election, on wednesday, just one day later, casino owner sheldon adelson wrote a $10 million check to mitt romney's super pac. it's the single largest contribution that he has received to date. he handed over an eight figure contribution yesterday, and it may be the first of many. quote, a well placed source in the adelson camp said that further donations will be limitless. in other words whatever financial resources that mitt romney wants he will get. thanks to the cash adelson is willing to draw on.

adelson is not alone. my colleague at the washington post explained this week, money, and texas and wall street, and it has shifted toward the party of mitt romney, john boehner and mitch mcconnell. if karl rove wants to know who may take out their wall i

i ezra klein am about to attempt something death defying, i'm going to attempt something that to my knowledge has never been done in primetime television, i'm going the try to convince you in less than two minutes that you should care, really truly care if spanish bond percents are at the right percent. what are they, a bond is what governments use to borrow money. you want money, you sell a bond. the yield is the percent that the government gets on the loan. the more confident a country is that they will be able to pay it back, the less you have to pay to borrow, so we pay just about

nothing. a country like spain is considered less of a safe bet so they pay more. a lot more. but here is the thing, most countries print their own currency. so even if they are irresponsible, they print more money and pay down debts, but that can lead to inflation, and a bit of that is better than defaulting all together. but now spain is part of the euro, they do not control their money anymore, and because investors are worried about the future of europe, they are charging spain higher and higher interest rates. at 7% they are going to default and if they default, they are out of the euro and then if they are out of the euro, the global economy will collapse. that is why you are hearing that the euro yields are important. the countries have trying to keep the yield down.

there's by the way an easy way they can succeed. the european bank can print the notes and hand it over. but it's run by germany and they are not doing it and that is the core of the crisis and that is the biggest threat to the global economy and the only way to know what is going on with it is to watch the bond yields and that is why you should care about them, done, boom, nine seconds to go. bond yields, now you know. ♪ surf's up everybody get your boards and your wetsuits ♪ free-credit-score-dot-com's gonna direct you ♪ ♪ to check your credit score before it gets too late ♪

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>> dear "the rachel maddow show" audience, be prepared to be stunned. many people hate president's health care. the alternative was three words long, repeal and replace. >> our republican priority and our pledge to america is to repeal and replace obama care. >> an instant effort to repeal and replace the bill. >> trying to repeal and replace the failed health care bill.

>> repeal it and to replace it. >> repealing and replacing. >> repeal and replace. repeal was and remains fairly straight forward, last year, the house voted to repeal the democrat's land mark overhaul. a fulfillment of a campaign promise. replace however is a harder word than repeal, what might a republican health care replacement look like? the evidence lays in the words of the leaders. when you piece together those words, it's kind of shocking. so right now, if you are not getting health care through your employer, there are not good options for you to go to buy it. the coverages and plans are confusing and the marketplace is broken. the consumers would comparison shop like you do on amazon.com. senator ryan has an idea for one

of these amazon.com health care markets. it will use state driven the exchanges to encourage competition. like ones in the affordable health care act. that part exists. today the wisconsin governor spoke to reporters about repealing health reform and what he wanted to see them get from the law. he wants to keep what he called guarantee issue. >> whether it's done through the affordable care act. things that allow you to go over state lines, are important. things of guaranteed issue and things of that nature. >> if you do not speak the language, that is fine, i do. let me translate, this thing that he wants to keep, guaranteed issue, it's a fancy

thing called the insurance companies cannot deny you on pre-existing conditions. here is the catch, aetna cannot say you have diabetes, so we will not ensure you, they can say, you have diabetes, so we will sell you health insurance for $5 million. >> i think there are a couple of things is that stand on their own, like pre-existing condition clause. >> a bit in the shadows but that is marco rubio. if you keep the pre-existing clause and you tell insurers that they cannot price discriminate and they have to do guaranteed issue, problem solved. right? everyone is sold health insurance at the same cost, not solved. we have a unique and powerful thing called the insurance death spiral. this is what happens when the insurance companies cannot deny anybody.

that raises the average cost of insurance and so people who are not sick stop buying it because it's too expensive and they do not need it right now. that makes health insurance more expensive so the next group of healthy people stop buying it and that leaves the pool sicker and then drives out the next group of people and on it goes until the cost is so high that you cannot make it work. a few years ago, a republican governor came up with a way to prevent the death spiral, he realized if you are going to force insurance companies to cover people you have to keep them in the market to keep the cost low, the way to solve the problem was called an individual mandate that made people pay a financial penalty if they did not buy health insurance and he spent years defending it. >> so if a state chose a mandate, it would not bother you? >> i think it's a terrific idea, i think you are going to find when it's all said and done,

after all the states are the laboratories of democracy, that they follow the path that we pursued that it's the best path. >> paul ryan likes exchanges and ryan likes to cover pre-existing conditions and rubio doesn't want these people priced out but we need everyone to buy insurance to make the whole thing work, thus the mandate. and so we arrived at the shocking conclusion after more than two years driving public opinion, heavily against the policy known as obama care, the republican lawmakers to the extent they described their own plans they want a plan that is basically bomb care. joining me now is a m.i.t. health economist, he is the author of the only comic book, graphic novel about a health care bill.

john, it's good to see you. >> good to see you too ezra. >> is this how the conversation went when you were designing the massachusetts health care plan? >> mitt romney felt very strongly that there was a free rider problem in health insurance in massachusetts, that healthy people that could afford it were not buying it, they were waiting until they were sick and then bought it, that is what led to the broken market. he said that mandate was necessary to solve that. and he was right. we put in mandate and the premiums fell by half. >> what if you just do guaranteed issue and you do not stop insurers from discriminating based on pre-existing conditions? >> it's what you said, insurers are smart, they have smart people working there, if you leave them an opening they'll take it. if you say guaranteed issue, that is it, they will say fine,

you can have the insurance, it's a million dollars. if you say guaranteed issue, you cannot exclude pre-existing conditions, they will say fine, we will charge you a million dollars for that. you have to have community rating to make it work. you have to regulate the ability to not charge the sick many multiples of the healthy or charge the same price ideally. the problem is seven states tried that, and in every case it failed. in some cases so badly that the states repealed it and in other cases like massachusetts, new york, and new jersey they kept the laws in place and destroyed the insurance markets. this does not work. >> what do you think? talk about the massachusetts plan, as i understand it, it's popular, many support it. do you think the affordable care act if it is up and running will be popular in america? even among republicans? >> i think it will.

i have -- as you know, i was quoted in your blog as saying, that you know, i have this vision, i think if the affordable care act, i have a vision that 20 years from now, someone will rise up and say keep the government's hands off my affordable care act. it will be popular, and the same level of public support like we have in massachusetts are 2/3 of the public on that plan. >> thank you for being with us. thank you for your time. >> great to be here, ezra. >> 42-year-olds do not have many chances to make their sports dreams come true until today, a truly great underdog story is the best new thing in the world today. stick around.

there's a magic word that will get you in big trouble when

you debate public policy in the great state of michigan, it's a word that will get you censored and put in the debate penalty box and it's not a word you think it is. tor beeping ] woman: what do you mean, homeowners insurance doesn't cover floods? [ heart rate increases ] man: a few inches of water caused all this? [ heart rate increases ] woman #2: but i don't even live near the water. what you don't know about flood insurance may shock you -- including the fact that a preferred risk policy starts as low as $129 a year. for an agent, call the number that appears on your screen.

the michigan house yesterday passed a new set of regulations for abortions in that states, the deal would make it more difficult to offer this cons constitutionally protected medical care to women. it expands to include far more

clinics and it will get tough for a consecutive, bear with me. and requires that doctors would need to fire a fetal death report. people that track bills like this one say it's common in anti-abortion legislation, what is strange in this bill is the requirement that if the woman has been pregnant for ten or more weeks the doctor would have to make funeral arrangements for the fetal remains, it passed on party lines, all the republicans voted for it, and six democrats and got heated in debate, and it went like this. >> while listening to testimony i was taken aback by one of the speakers for the opposition, it was a doctor that proposed that at the early stages of pregnancy were merely tadpole like

creations or creatures? really? tadpole like creatures? >> opponents of the bill, all of them democrats, also spoke up. representative made headlines everywhere with this. >> i am disappointed mr. speaker that we are launching a war on women today while doing nothing to launch a war on poverty, in that case, stop having sex with us gentlemen, find somebody else to do it with. seriously, i ask women to boycott men until these bills stop moving out of the house. oppose this bill for the love of your wives and your daughters and mothers. thank you. >> the michigan press called this next argument feisty. this is democrat lisa brown. >> i have not asked you to adopt and adhere to my religious beliefs, why are you asking me to adopt yours?

and finally mr. speaker, i'm flattered that your all so interested in my vagina but no means no. >> members i do ask that you respect the decorum of the house. >> don't talk that way around here the speaker was saying. in addition to testimony they introduced a series of amendments claiming that the state would be playing a role in women's medical decisions that it does not claim a role in men's medical decisions. one would be that a man would need a full exam before getting viagra -- for the most part, the amendments were gaveled away. when he did that that particular vasectomy amendment, in is what it looked like.

>> the question before the house is on the adoption of the bill of 2-i. >> the amendment is not adopted. are there further amendments? are there? representative you are out of order. >> it's a little hard to tell from the tape what is happening. two of the three democratic women that you just watched, republicans told them that they would not be allowed to speak today on the house floor. mlive.com published it's the responsibility of the majority floor leader to maintain the decorum of the house, the floor leader has informed minority floor leader that

representatives brown and byrum will not be recognized on the floor today after their comments yesterday that failed to maintain the decorum of the house of representatives. when we asked for more details, the representative was gaveled down for marching through the chamber and shouting like a small child throwing a temper tantrum. she was not gaveled down because of the words used but the context in which she used them. like bringing up sex in a reproductive rights debate? because of her actions it had nothing to do with gender or religion or the topic before the chamber, and they said that the democrats never let them talk when the democrats were in control.

one of these silenced lawmakers said she could not have marched through the chamber because they hurt her knee in a race last week but did raise her voice to be heard, which is hardly unheard of in legislative chambers. >> as for the senator who said no means no, she joins us now. thank you for being here tonight. >> thank you for having me. >> republicans say you were censure for the context in which you said your words. what exactly does that mean? >> i wish i could tell you. i did not have one member of leadership come up and speak to me today. i wasn't told why. i wasn't told for how long. i wish i could tell you more but i frankly don't know. >> what was the broad point you were making yesterday on the house floor?

>> well, i was trying to make a few points. the bill covered a lot of issues. and, you know, i think the government has no business being in my private business. and frankly, using the word vagina, that's what this is regulating. it's the medically, anatomically correct word to use. it's in the michigan statute on three different occasions. >> what have you heard from your constituents about this matter? what do they think about the legislation broadly and about the how you've been banned for speaking out. >> i haven't heard just from my constituents but really from across the country. i had people go to act blue and give money to support me on my act blue page. we've heard from people from california, to chicago, all across the country, cheering me on and thanking me for being a

voice for women. >> do you know how long the punishment is intended to last? can you talk on the floor tomorrow a week from now? when does the time end? >> today was our last day for summer break. we meet again in another month. i don't know what will happen when we come back in july. because today was the last day before break, we took up a great number of bills. that's how i found out in the first place. the first bill we took up this morning i was planning on speaking out on. it had to do with teacher retirement, that's when i found out that i had been banned on speaking on the floor. >> is this tit-for-tat? have relations just broken down there? >> no, that's not correct. everything i did was according to the rules.

i was called on by the speaker of the house, i was speaking to the bill, and i followed the house rules. so being punished today, really i had no idea why. i still have no idea why. >> the bill goes into effect in september as i understand it. is there anything more than house democrats are going to be able to do or going to try to do to stop it? >> well, the bill still needs to go to the senate. and they said they're going to be taking it up in september. there's still time to fight this bill, to request that this bill go away and never show its ugly head again. so the fight is not over. >> michigan state representative lisa brown, thank you so much for joining us tonight. >> thank you for having me. >> cinderella, meet caddy shack, the best new thing in the world next. now you can apply sunblock

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the best new thing in the world today is the totally unlikely underdog achievements of dennis miller. no, not that dennis miller. i'm talking about this dennis miller. he's a golf pro, which means he teaches golf in a course in ohio. last week, this dennis miller tried to qualify to play in the u.s. open. to get into the u.s. open, you have to play well enough in a particular local tournament to get into a sectional qualifier. then you have to play well enough to get there into the open. it is for golf pros a dream to play in the u.s. open. very few ever get to do it. last week, after playing all day with equally determined guys who want exactly the same thing, the only thing standing between

dennis miller and his dreams of playing in the u.s. open was one small putt. >> oh! so close. that poor guy. to come that close. and i know what you're thinking now. this doesn't feel very best new thingish. it feels almost worth new thingish. but wait, watch the end of that. [ applause ] >> it's good! although i know that's not the motion you make in golf, but that's awesome.

an ordinary joe getting to the lip of glory only to have his hopes hang there helplessly before drop into total elation. as i said, this happened to dennis miller last week. so why is it the best new thing in the world today? because today dennis miller who just wanted to get there arrived. the 42-year-old golf pro has failed 11 times to get into the u.s. open. played his first round in the u.s. open. his score after the first 18 holes? 10 over par. in other words, way out of the running. he's not going to win this thing. dennis miller has no allusions that he'll come in number one in the u.s. open. he told his local paper, hey, in two weeks, this will all be over. i get back to being a club pro in ohio and my wife will go back to being a nurse, but we're going to enjoy every minute of it. that, i can promise you. and so in the words of carl spakler of the country club, he's got that going for him. which is nice.