it's also got so many bad things laced to it because they're not making such as their male counterparts. stupid. it's not good news. it's not calling good news when it's not good news. >> feel your pain. >> yeah. >> you know who's? in today for chuck? be still, my heart. >> the fix. chris cillizza. the fix man. >> i need a fix because i'm going down. we'll see you sometime. i don't know. bachmann's summer surprise. the tea party favorite decides she's had enough of congress, but her announcement comes as a potentially tough fight for re-election loomed in 2014 and an investigation into her campaign finances grows. meantime, 2013 can hardly be described as an off year election, but the republican rock star rolling on the share. a full blown fight and a tabloid

field day in gotham city. so, just how much of it matters for hillary clinton's future plans? and word spreads that eric holder feels badly about how the justice department handled leaks, but will remorse tamp down? good morning from washington and this is "the daily rundown." i'm chris cillizza in for the goateed one, chuck todd. a word of warning to anyone thinking about 2016. who could do that? running for president doesn't always help your political career. michele bachmann announced this morning she will not seek a third term in office. bachmann, who had a brief success in the 2011 iowa straw poll finisheded a disappointing sixth in that state that she claimed was home. she barely won last year by just over 4,000 votes and this month began running re-election ads, a

whopping 17 months before the 2014 election. the federal election commission, office of congressional ethics and fbi are all looking into allegations that she paid an iowa state senator. in a message posted this morning, she denies that bowing out had anything to do with either of those things. >> be assured my decision was not influenced by any concerns about my being re-elected to congress. and rest assured this decision was not impacted in any way by the recent inquiries into the activities of my former presidential campaign or my former presidential staff. and i want you to be assured that there is no future option or opportunity be it directly in the political arena or otherwise that i won't be giving serious consideration. >> well, i certainly feel reassured.

let's see if dom agrees with me. this is like an eight plus minute video in this michele bachmann essentially gives no real reason for why she's leaving. she says the fight, i'm as worried about the nation as i've ever within. i'm leaving all options opened. >> there's a lot going on farce whether or not she could win re-election. the poll iing didn't show her doing so well. she's under investigation in a couple of areas. and there's a lot going on with michele bachmann behind the scenes that she's needs to deal with and certainly under a lot of political pressure. this was redistricted to be the safest in this district for republicans and still, she was no sure shot at winning. >> and that is a really important point. i know a lot of democrats are celebrating this morning, but it's more --

>> more of a skin on the wall rather than it takes off a potential seat to take by the house. >> this is a seat which mitt romney won by ten points. if they no, ma'minate a less controversial republican, they should win. it's :00 in the morning on the east coast. therefore, i feel justified in asking you what michele bachmann's legacy, if there is a legacy, in politics or in congress, i feel in sort of campaigns, there might be one. in congress, i'm not sure there is one. >> and she was really didn't have the kind of influence even with the tea party that even though she founded the tea party caucus, there were other folks closer to some of the more conservative leaders than she was. policy level, she didn't have much that came out of anything she had done. certainly, she could get herself on television. campaign and raise money. and that's one thing democrats wind up loses is that she was a

big fund-raiser for democrats. >> to raise money against. >> and she raised a lot of money for herself as well. we think it's not always a good thing to be running for president, have your name out there when you're maybe a second tier person and it hurts your brand. if you look at dennis kucinich, chris dodd, tommy thompson. >> one point a loyalist, what's her impact in morning, she was kind of the first house candidate to recognize the ability to nationalize a house kavm and fund raise nationally. leave it at that. i want to turn to president obama on the jersey shore. a great story for pictures. let's play just something quick sort of the notable thing that happened yet and we'll come back and talk about it.

>> mr. governor, you want to give it a shot, sir. >> i do. >> all right. that's because he's running for office. >> general thought is if you're president or the governor, you should never play a carnival game. those things are impossible. obama has had some tough political summers, these last few summers. this is him trying to say look, here's the recovery effort. where does he go this summer? obviously, the first summer he doesn't have to worry about re-election. >> the jersey shore, that's what he's trying to be able to tout. i agree with you, you probably shouldn't be throwing stuff. i've playeded at that carnival and i haven't been able to get it in. gave obama that chicago bear's

bear. >> i like that christie pulled the costanza. >> what a difference a year makes. a spike in housing prices have put the u.s. economy on the rebound. home prices jumped nearly 11% from the same time last year. consumer confidence hit its highest level in more than five years in may. up from 69 to more than 6 according to a new industry group that tacks it. more than 200 points the dow has surged at one point on tuesday, it wound up closing more than 100 points. my favorite cnbc reporter becky quick joins me now. good morning, becky. we have chatted many times in which we talked about false positives, the market is doing well, but something the loom in. are we -- i hesitate to say have

we turn ed a corner. >> that is what a lot of people think on wall street, chris. this has been a steady drum beat of the market moving higher almost every day. it seems like no matter what happens, good news or bad news, the market tends to beat the steady drum beat higher. i will say there's an exception to this. this morning, we're going to give back most of those gains. looks like the market is going to open down. that is such a drop in the bucket. the front page of "usa today" talks about how the bull run gets solid footing. they talk about $12.8 trillion in market value that's been created since the lows of 2009. the dow has gone from about 6600, more than doubled that to above 15,000 and at this point, people are looking around and saying how do you possibly fight this. a lot of it has been this good economic news. you talked about those numbers at the top. home sales have been strong. if you look at things like auto

sales, detroit is on fire from the sales that have been going through. you can just talk about every industry that's doing better including energy industry as we found more and more in this country. the other side though is that there's still uncertainty when it comes to manufacturing. you have great economic news, the fed continuing to push ahead and a lot of people who say continue with this, the market is not done yet. >> well, maybe finally, we have pivoted and have turned the corner. thank you for keeping us updated. economic growth does remain slow by historical standards. 11.5 million americans are still looking for work and no negotiations on -- alan krueger is leaving the administration to return to princeton university. he'll be replaced by jason f

furman, who will become the next chairman. furman played a crucial role in crafting the president's stimulus plan in '09 and has been a key adviser on issues ranging from the auto bailout to the energy policy. jack markel of delaware, the chairman of the national governor's association joins me now. thank you for taking the time. i want to talk first about we're talking about the economy. but we've spent the last two weeks talking about the irs. talking about benghazi, talking about the leaks regarding this associated press, regarding a fox news reporter. how do you as a democratic governor steer this conversation back to the economy and let me ask you from people you talk to in delaware, how focused are they on what the conversation in washington versus this economy story on there? >> people in my state, probably people in most states, are focused on what matters to them and that means are we putting

people back to work, continuing to improve schools, being good stua stewards of the taxpayers money. so much of what's going on in washington frankly is just a big distraction to them. >> governor, i want to cite something in "washington post" did a survey, a poll in april. two-thirds of people still said it's difficult to find a job in their area. becky quick just talked about this. we have these positive things and yet we have unemployment -- concerns among people finding jobs. what explains what looks to be sort of totally opposing pieces of efd about where we stand? >> well, i think there are two main things to think about. first of all, when you think about the economy, we can see great growth of wall street, but

that's not necessarily translating to main street because productivity gains have been incredible. there are lots of employers who are doing incredible in terms of volume, but with fewer employees. two, businesses around the world have more choices about where they're going to expand and hire. i was recently in india and a cowell of months before that, in cory r korea and japan. you see these massive research and development facilities from well-known u.s. names. the fact is, businesses have more choices than ever before. the final piece, we just yesterday released a report from our sints technology, engineering and math. our stem counsel. what they found in our state for there are basically four open jobs connected to science, technology, engineering and math for every person that's looking, but if you don't have a stem background, then there are a couple of people looking for every job that's available in the nonstem fields, so the economy is is very different

depending upon what kind of skills you have. >> i want to ask about health care. the implementation of which is going on in states like yours. many republicans have said the irs scandal, which is not related to health care, this is about taxes and groups, but the irs is responsible for putting into place and overseeing many parts of president obama's health care. a concern for you in terms as governor, what we're seeing go on on. is that connected to people's every day lives in delaware? >> certainly, the implementation of the health care law is very much connected to everybody's lives. we're working hard in delaware and looking at our federal partners as well to make sure that everything's on time. i think there's still some questions about that. the bigger issue about health care has less to do with the affordable care about and it's the work that's being done in states across the country

including ours here in delaware. to reorient how health care is delivered and how it's paid for. the fact is what we have today is just not sustainable. because there's no other industry where there's so much of a disconnect between what we feel in our own pocketbook and the services we receive. if a doctor tells us to get an mri or a cat scan, we're going to get it and have no idea what it costs. that's just not sustainable and how the real world costs. >> i can't let you go because you know i love 2016. you are personal friends with senator mark warner and i have heard people whisper in my ear about jack markel potentially for president. can you give me a thought on any or all of those? >> i very much hope to have the opportunity to cast my ballot in 2016 for a delawaren for president, he just happens to be joe biden. >> could it be jack markel?

>> i think obviously secretary clinton, senator warner, there are lots of good candidates. people like governor o'malley looking ate, but i look forward to casting that ballot for vice president biden. >> want to make sure, you're a biden guy. >> i'm a biden guy. no doubt about it. >> thank you, governor. next, why wait until 2014 for some good political fights? i never do. we're off to the races in this off year. it's not just christie's sure thing. the big apple circus has officially come to town and there's new nastiness in the old dominion. plus, why these races matter for hillary clinton's potential white house run. plus, a look ahead at today's political planner. the best thing on there is the scrips howard national spelling bee. those kids are amazing. must watch tv if you're a nerd like me. check out the newest feature on our website, we've collected all

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everybody came together, republicans, democrats, independents, because new jersey is more important and our citizens lives are more important than any kind of politics at all. >> republican governor chris christie has worked hard to portray the new jersey recovery as a bipartisan effort that's beyond politics. now, the truth is, the

president's visit may help christie's re-election bid in the short-term. remember, new jersey is a blue state. but could come back to haunt him if he runs for the white house. joining me now to take a look at christie's race as well as the other big contest in 2013, jonathan martin and maggie. two of my favorite people. jonathan, congratulations. jonathan is the soon to be national political correspondent for some newspaper call ed "the new york times." i'm not familiar with their work. let me start with you and let's talk about christie. this is kind of this balance. ever since last fall when some republicans blamed mitt romney's loss on the fact chris christie was nice to barack obama, christie's a moderate, too close to barack obama has been out there. dangerous for him or overblown? >> not this year when he's going to raise a lot of money, but potentially dangerous when he

runs in 2016. the question, what does the gop electorate look like in 2016? are they still obama consumed? still fixated on obama's election or moved on to say hillary clinton? to me, there are other issues besides hurricane sandy that christie's going to have to deal with. guns comes to mind immediately where he's not been on the right. >> it's an interesting thing. >> right because they like the fact, the jersey swagger and somebody who is blunt and says what he means. that appeals to them. >> interesting because on other issues, he does not tow the line. >> i mentioned guns. i think certainly immigration and gay rights. >> he's more in the center and i think that is what could be more

of a challenge in a place like iowa or south carolina. first of all, jersey swagger is a great phrase. >> i strongly endorse it. >> maggie, you wrote one of my favorite pieces and there have been a lot of them, but one of my favorite pieces about anthony we weiner restart, the 2013 version. sort of what he wants and what he's getting. there's a new poll marist chris quinn, 24, anthony weiner, 19. tell me what you make of this. no one knows new york politics better than you. where does he wind up? >> i make of it is that it is almost june and not september, which is when the primary is going to be. most of these candidates are barely known. anthony weiner has 100% name id for all of the wrong reasons, so the question is going to be if people can put aside what they know about him. quinn is in trouble. historically in the new york

primary for new york city, whoever it is leading the polls ends up in the run off. i think she probably makes the run off, but is not in a strong position. despite the fact i think her team is in a bit of a freak out that her numbers are cratering or softening, i think that it seems likely she ends up in the run off. for them, anthony weiner's presence is not the worst thing. if she is in a run off with him, she is the odds on favorite. it's much harder to get into one. >> is whoever makes the run off against anthony weiner the odds on favorite? i guess the broader question, can he win? >> it's a pretty limb chance. there is going to be -- he is running as the outsider.

he has no organizational support. not necessarily a bad place to be in. >> it's sort of remarkable. he's running as the outsider because he has no choice, but you're right. >> but he is known for using whatever he has and making it work and that's what he's trying to do right now. >> politics is a more interesting place with anthony weiner involved in it. >> i wanted to ask you both and i wanted to mention the virginia governor's race. republicans chose at their convention a african-american bishop, e.w. jackson, a pastor, who's said many controversial things. how much do you make of this? does he influence ken kuch nelly's chances of beating terry mcauliffe? >> jackson makes it harder for him to move to the middle and leave behind some of the cultural issues that he's tried

ed to move away from, but if you look at the history of the statewide elections in virginia, the vast majority of the attention is focused on the top. people vote for the top of the ticket, not the second. >> and there have been split ticketed where one part's candidate will win and the other party's will -- >> they run separately. >> yes. so i think the answer is both. it makes life tougher to do this, donald sort of 2009 pivots the middle, wu at the same time, most of the attention will be on -- i can tell you what's going to happen tomorrow if you tell me what the electorate is going to look like. if you have this huge drop off in turn out, then i think c

cuccenelli can pull it out. >> i want to bring in the clinton factor. robbie muok is running mcauliffe's campaign. is this fairly cast as sort of a prerun for hillary message testing terry what's the clinton legacy getting that experience? what do you make of what virginia means more broadly? >> i think the hillary clinton needs virginia, so in that respect, if terry mcauliffe wins, that's a positive for her for a variety of reason, but the idea this is a test run for the clintons, that terry mcauliffe has sladedded down is sort of silly.

this campaign has had some troubles, the mcall lif a.m. and has not gone smoothly, so that is not a line the clintons have sold heavily. if it goes well, they'll be happy to claim the victory. >> i'm going to put you on the spot. maggie, i'll start with jonathan. tell me what the most important, one of these races, what's the most important race to tell us manager about 2013? >> i think you have to say it's virginia because of the three. it's a swing state, heavily contested and again, it's going to tell us whether or not the republican party can win in off years only. >> and is that basely the issue right now. has the republican party become an off year only party or can they win when the electorate looks like america? >> it's tv, so you know this.

i have to cut you off. you know how it goes. i always defer to maggie. do you agree or disagree? >> i always defer to jonathan. i always defer to jonathan. he's right. mu virginia is a much more telling race. new york is in this weird moment right now and christie -- >> barbara buono thinks you for mentioning her on national television. and from the off year races to the midterms, we'll tell you who's trying to make a comeback and a severe weather warning. powerful storms threatening more tornados across the middle of the country. we'll tell you where the worst of the danger is. but first, today's trivia question. when is the last an incumbent iowa senator ran for the the election?

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a huge part of the midwest is bracing for tornado outbreaks today including areas still recovering from last week's twister. this tornado touched county in kansas on tuesday. the same area is facing a threat today. that includes the devastated city of moore, o.klahoma. more than p.2 million people are facing tornados with the worst weather hitting the cities around rush hour. pakistani intelligence officials say a u.s. drone strike has called the number two commander of the pakistani taliban. there's been no confirmation and the taliban denies the report. the strike which killed four, was the first drown attack since the president vowed to tighten

rules and boost transparency. as the u.s. and russia argue over syria, the civil war there rages on threatening to spread deeper into lebanon. russia's foreign minister said the resolution was quote one sided one quote and would hurt peace efforts. at the same time, russia said it was going ahead with plans to send air defense missiles to assad and joe miller is taking another shot at the u.s. senate in alaska. records show miller officially fileded papers this month to challenge democratic senator mark begich in 2014. he made headlines by beating -- when she ran as a write in candidate in the general election. we've got much more 2014 election court and jury on our website, including a look at several former house members who could run for that now vacant

michele bachmann seat in minnesota. and don't forget to head over to our facebook page. the conversation there continues all day long. up next, a divided congress comes together to try to take a bite out of apple's products. you're watching "the daily rundown" on msnbc.

u.s. based companies earned $1.9 trillion last year and avoided tax bills by keeping those profits aboard. last week, tim cook was called before a senate committee to explain why his company keeps billions of dollars of profits in irish subsidies, but there is a bill in the house now offering a way for companies to repate rate some of those profits. joining me now is a sponsor of

the bill, john delaney. one of four freshman claesz presidents and the only ceo of a company currently serving in congress. that last part seems to be the most important and interesting. a lot of sort of outrage about app apple, got my iphone sitting right here. they're keeping these profits in these irish subsidies. tell me what your plan would do and why companies would be willing to do it. >> our plan is designed to build the u.s. infrastructure, so what we're kaet create xiaoqiang a large squal infrastructure financing capability that we think could finance up to 750 billion of infrastructure projects in the united states, which would put a lot of americans to work in the short-term and improve come pettiveness in the long-term, but this is not established by the government proepuating money towards it. it's established by selling bonds to companies at very low interest rates, the bonds are

not guaranteed by the governments. they're very long-term. no one would buy these bonds normally, but as an incentive to get companies to buy them, we allow them to repateuate a certain amount of their overseas earnings tax free for every dollar of these bonds they buy. so they buy a doll lor of these bonds, bring back four dollars. we create a path for repatriation, get a large scale restructuring vehicle. >> having hosted this show before, i know i've talked about it, we need to make more infrastructure investment and yet, every president since time has said we need to make muhr infrastructure, but the money winds up not being there. this is a way in your opinion to sort of step outside of that. >> absolutely. people like to talk about an innovative financing vehicle. and listen, it won't solve all of our infrastructure problems.

we have a multidimensional hole in this country. we need many tools in the toolkit to fix it. many of the tools in place should fix it. this will be a fairly large, robust tool in the toolkit. >> i want to highlight again because i was stunned by this and maybe i'm naive. overseas profits, 1.$9 trillion earned. should the american people be outraged that that number, and how do you turn if they should be is your bill, are there other bills like yours that you turn into something? these companies are obviously sort of protecting themselves. >> we need tax reform. right now, our tax system creates all these unintended consequences. did nothing wrong.

they're following the tax laws. >> they did nothing illegal. they took advantage -- >> they sell two-thirds of their products overseas, so they sell lower products overseas and they run those operations out of overseas businesses and pay taxes overseas and the laws are written, unless they bring the money back, they don't have to pay u.s. tax. those are the rules. we should modify those rules, we should level the playing field. we should not create the incentives for companies to do that. necessarily and i'm in favor of tax reform, but in the meantime -- >> ways off. >> massive comprehensive tax reform, which is really important for us to do as a country. i think we should start getting the money to work in the united states and that's what our bill is designed to do. the most central issue i think we face which is build more infrastructure. >> i want to ask you something that i bet you have a short answer to. >> the governor of maryland may be running for president in 2016. if he runs, are you supportive

to him or are you open to other candidates? >> i haven't even thought about the 2016 election -- i'm a big supporter of hillary clinton. i was one of her delegates last time. >> thank you. interesting. i can't wait. thank you for taking the time. come coming up x what's really behind michele bachmann's very abrupt announcement, plus, house republicans aren't -- on eric holder. our hump day gaggle will be here next. but first, it's the white house soup of the day. egg drop. i've never had it, but i've heard good things. we'll be right back. (announcer) at scottrade, our clients trade and invest

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in 2004 when the world war ii memorial was dedicated on the national mall here in washington, d.c. the memorial honors the 16 million members of the greatest generation who served in the more than 400,000 who died during world war ii. now to wall street. we're seeing some of the downside of all that strong economic data. it start ed at ooltewah record high, but all three indicators are down to start the day. inves dors are worried that growing consumer confidence could end the fed's bond buyinging stimulus program. thanks for that gray lining in the cloud. trivia time. the answer, 1974. it's been nearly 30 years since senator harold hughes retired in iowa had an open senate seat an congratulations to today's winner. craig robinson, if he didn't get

it, he'd have been embarrassed. thanks. if you've got a trivia question for us, e-mail us. that's maggie's farm and we'll be right back. [ tires screech ]

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my shell . michelle back miami barely won the election in 2012. the congresswoman said that didn't affect her decision to retire from the house at all. >> be assured my decision was not in any way influenced by any concerns about my being re-elected to congress, and i have every confidence if i ran, i would again defeat the individual who i defeated last year who has recently announced he is once again running. >> does any politician say i'm

not running because i can't win? no, they don't. casey hunt and you write for the national -- that and i'm a friend of the fix. >> friend of the show. >> i want to talk to you about michele bachmann. we talked about at the top of the show, is there a lasting legacy that michelle leaves either in congress, which i tend to doubt, or in the campaign world, which i'm more open to? do you have a take? >> well, she was a pioneer in showing that you could shbuild national fund-raising base by being on tv networks pushing outlandish things. unfortunately what that meant at home is people in her district were beginning to be concerned if she was interested in her local issues or national.

>> that's like chris dodd. people remember that. >> bob dornin lost his house seat in part because of that in the 1990s. >> tremendous reference. danielle, i want to ask you about this. jim graves who ran in 2012, who became very close to winning, despite the loss of 15 points, this is what he had to say. i'll read it. she must have also recognized that it would have been an uphill battle going forward. i'm not sure i totally agree with that. this is a republican district, but does michele bachmann's seat make it more or less likely -- >> i think it will make it more difficult. mitt romney won it by a lot of points, but it depends on who the candidate is. i don't have any insight on that. but, you know, i think her video, i think we can all agree was pretty terrible and very long. but i think that it was more than just she wanted to get out.

i think the investigations that were going on and the really tough race that she ran last time, i think the writing was on the wall for her. >> she's won a tough race every time. >> yes, she does. >> casey, i want to talk to you about two things. it seemed like michele bachmann peaked at the 2011 strong poll and never won again. you were out there with all of them. what was your impression of her? >> i was with her when she was in the straw poll and to some of he events with the iowa caucuses. the change between the excitement during the straw poll -- >> i remember being there, yep. >> -- and the events before she got out of the race was extremely dramatic. that was pretty stunning for her personally if you talk to people close to her. remember, too, it's possible that bachmann by stepping out or retiring could end up with a

more powerful platform than she might have had in the house. you've seen mike huckabee, jim demint, others who have decided this is not the place for me. >> quickly, because i know you're on the hill now, my impression was she left almost no imprint on capitol hill. her colleagues on the republican side let her do her thing. is that fair? >> she tried at one point. she was robust pretty aggressively, so she really hasn't found -- you know, there are a handful of other conservatives in the house who she pals around with, louie gohmert, steve king from iowa. there's sort of -- even in that group they're competing with each other for influence. so she was completing with steve king for air time on talk radio. >> i want to start with you and address this before we end the show. eric holder through intermediaries said he had some regrets about the way the fox news case regarding -- they

followed him in and out of buildings, james rosen. what do you make of this? is this a p.r. move? >> i think one thing we learned is it's too much to expect air holder to be up to date on what eric holder has been doing. so he has to read the "washington post" to discover what he's doing and whelp he reads it, he can express some regret. >> danielle, i'm guessing you don't agrier with ramesh. >> no, i don't. i believe there are valued concerns with prosecutor overreach but i think the republicans in a rush to reach a huge scandal have to play their hand and be careful. >> kasie, what do you make of this? >> the fact that fox news is involved puts more pressure on it. >> it's fascinating. daniella, shameless plug. >> our immigration team has been doing great work and they just

released a great city showing the economic benefits of legalizing the 11 million undocumented here. >> and we're going to hear much more about immigration as the summer goes on. kasie? i want to say happy birthday to my graund father, world war ii veteran who we love very much. >> ramesh. >> my latest bloomberg columbia. i take a step back on the scandals and look at the president's rule of law. >> i want to say picking up on kasie, one of my family's deceased, very proud when the war memorial went in. thanks for joining us. that's it for this edition of "the daling rundowe inine ining" coming up next it's chris jansen and company. eer. and i shop at walmart. truth is, over sixty percent of america

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i'm chris jansing. tea party champion and

conservative congresswoman michele bachmann won't run for election next year because for her eight years is long enough. >> be assured my decision was not in any way influenced by any concerns about my being re-elected to congress. rest assured, this decision was not impacted in any way by the recent inquiries into the activities of my former presidential campaign or my former president staff. >> but, in fact, bachmann was facing a very tough challenge. her 2012 opponent is running again, and he raised $100,000 in a week after announcing. she won by just 5,000 votes last time in the most heavily republican district in minnesota. of course, bachmann's unrelented criticism of president obama gave her a platform for runner for candidate. sounding like the candidate that she was she used the video to