reemerged last night, same night, and we can't figure it out. >> i learned that it's time to wrap things up. joe, take it away. >> willie, if it's way too early, what time is it? >> it's time for "morning joe," and right now it's time for the "daily rundown" with chuck and savannah. >> obama makes it to indonesia, but looks like he will be forced to cut the trip short. president bush speaks frankly about some of the more controversial decisions of his presidency. >> who launched a missile off the coast of california last night? the penalty gone and navy would like to know, because they have no idea. i am chuck todd. also this morning, the unusual presidential candidate, who is he and who are the folks behind

his candidacy, and we'll reveal it in a few minutes. let's get to the rundown, and we will start in jakarta, and we will begin with the president returning to his home when he was 5 years old. the white house says he will have to cut the trip short because of the volcanic ash. he is wrapping up a dinner now, and i understand that. will he have to leave before he gives his big speech? >> i don't think so. that is the priority for aides here. the speech will go forward. it's really some of the other items on the agenda up in the air. he has the visit to the mosque, the largest mosque in southeast asia. he was supposed to visit that and pay his respect at an official cemetery here that is like arlington national cemetery. still very much up in the air as is the volcanic ash.

the volcano. turns out the white house is looking at just a window in which they feel his plane can take off safely. i think in all likelihood, we will see the president leave earlier, and the question is which items will be left off the schedule. chuck, he's here in his childhood home and spent the ages of 6 to 10 here in indonesia when his mother lived here and he held a press conference a few minutes ago and was asked about some of his reflections riding in back at his childhood home again. listen. >> when you visit a place that you spent time in as a child, as president, it's a little disorienting. the sights and sounds and memories feel familiar. >> reporter: the president will probably not have anytime to go

visit childhood sites. this was supposed to be a trip back in march. he was going to bring his wife and two girls and they were going to see the sites in jakarta, and the president has been hinting at the trip. there is a trade purpose that we have been hearing for the entire visit to asia, trying to beef up the trading with the countries. the white house sees it as a strategy going forward. and it's doubling experts over the next five years, and then the other part, of course, is muslim out reach. this is the most populist muslim nation, a democracy, and the president wants to highlight that. here is what he said at the news conference. >> our efforts have been earnest, sustained, and we don't expect that we are going to completely eliminate some of the misunderstandings and mistrust

that developed over a long period of time. but we do think that we're on the right path. >> reporter: so the president giving something of a progress report in response to a question from politico about how he graded his progress on the out reach to the muslim world. >> we will check in at the bottom of the hour. >> we had a little lightning earlier, but it seems to have calmed down. >> i am looking forward to the food. that's what i am waiting for next. we will tease that of what is in the file coming up. what did you make scott foster eat? anyway, we will check in with you in about 20 minutes. a strange and somewhat disturbing story developing in california with a missile was fired off the coast last night and nobody seems to know who fired it or why?

and this seems like a bad plot twist in the war games? >> there was a display in the pacific ocean, just off the coast there of los angeles, a cbs traffic helicopter at rush hour last night caught the image just before dawn. now, over here at the pentagon, senior military and pentagon officials are scrambling to find out what exactly this is. what it can't be, it cannot be a planned u.s. military launch by any stretch of the military, and they would not do it in a populated area, and the other possibility could be it was a screw up, that somebody punched the wrong button. if that's the case, the officials have not gotten any explanations yet, and another possibility is that it would be

suffocated but amateur rock rocketeers of some kind pf but nobody here in the pentagon has any clear idea yet what it is, and the words of one senior pentagon official, this is bizarre. >> for 12 hours removed, from when it was spotted, it was rush hour, and let's say we are almost 12 hours removed, at this point, you would assume every missile that is in the united states military custody would have been accounted for now, correct? >> yeah, that's what makes it so strange. it does appear to make it a sizeable missile with a substantial rocket power of some kind, nobody in the u.s. military is owning up to it quite yet. i am not saying this is what

happened. anytime there is this kind of incident, the military goes into a defensive crouch to get all the information, and cross every t and dot every i to make sure they get the information correct before they pass it up the chain. but even military officials here in the pentagon say that doesn't appear likely here as of yet. we will have to wait and see what the military comes up with so far. >> do they know it was ground based or if it was off the coast, but was it off an island off the coast or a boat, or they don't have the determination yet? >> they don't. it appears to have come from over the water, which could have been from a boat or from a submarine, or from a low-flying aircraft, i guess that's possible, or it was somewhat near the island of catalina. i think anybody setting up a rocket of that size would have been noticed well before they were able to launch it. so it's either a boat or an

airplane, and so far nobody has any clues that they are sharing with us. >> busier day than you expected. we'll check back in by the end of the hour if you find out anything. and the u.s. prompted have banned some cargo from some countries altogether. we have the latest on the new rules. walk us through them. >> first of all, they extend the ban on air cargo shipments, that's where the packages came from. and then banned cargo from somalia, too. now shippers cannot put high risk cargo on passenger planes, and they carry about one-third of the cargo that comes into the u.s. there is no fast and hard definition of what high risk is, and that will vary with the sender and contents and shipper and where it's going.

all packages sent by mail overseas has to be screened, and passengers can not carry on to the plane ink or toner cartages that weigh over a pound. that applies to flights inside the u.s. as well as those coming in from overseas. >> pete, i have to ask you about another legal decision that took place yesterday. in oklahoma, they had passed that ballot initiative banning the use of sharia laws, and a court has acted upon this voter passed initiative. what happened? >> sharia law or islamic law, and a judge had a hearing in federal court and put a stay on basically certaifying the resuls

of the election. it was challenged by a muslim group, and the judge said i will block the process from certificating the results so this thing can't go into effect. she scheduled a hearing on later this month on whether to make the ban permanent. this is singling out islamic law, and that's the argument that seemed to persuade the judge. many legal experts say this is not a surprising decision by the judge. >> pete williams in the washington news room with all the latest on the legal ranglings there. thank you. and let's turn to wall street with the opening bell, and becky quick joins us with a preview of what is driving the markets today. >> yesterday the stock market ended a six-day winning streak. today it looks like the futures are slightly higher, not a massive move one direction or

the other. and so we will keep an eye on that this morning. there are a lot of questions how the there about the feds latest news, and critic who are knocking things around because of what it's doing to the dollar, creating weakness in the dollar, and that's creative havoc. gold was trading at $1,414.80 an hou ounce, and that's an all-time high. and then oil is trading up, and copper prices are trading high. it's going into the emerging markets, and that's why the leaders are angry by the move by the fed. and then a big deal in the energy fields. chevron buying atlas, and that's

a big play because atlas is a big player in pennsylvania. >> all right. thank you very quickly. >> real quickly. have you to tell savannah, i am looking up some of the dishes from indonesia, and impress her, you can say things like tepa, and you can ask her if she has eaten peso lala, and that's fried cat fish. >> still ahead, we're meeting the freshmen class of congress this week. plus, former president george w. bush back in the spotlight talking excusetively with nbc's matt lauer, and the most controversial decisions of his presidency and how history

will judge him. and if you will recall, i got a little excited about something on friday. >> i have to tease you about one other thing. i just got my first presidential exploretory candidate. we found out nobody had ever heard of him, and we'll explain next who is hugh. first a look at the president's schedule. you are watching the "daily rundown" on msnbc. he wakes up in the morning, which is actually in the evening, and tomorrow is today and yesterday is somewhere in the future. crew in america has a powertrain backed for 100,000 miles. that's forty thousand more than ford.

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the american people are concerned about the debt is built-up over decades, and it has gotten worse because of the economic recession, and we have to pick it so the next generation doesn't have to fix it. >> 39% of people in the exit polls say the first priority for the congress should be able to reduce the deficit, and that's higher than the number of people who want congress to focus on creating jobs ordealing with tax cuts. and our next guests are getting the 2012 race off to start, and they are putting hugh on the ballot. if you have not figured out, a

little tongue and cheek here. here now pete peterson, and the foundation's vice chairman, michael peterson. congratulations on the presidency. >> let's see how it comes out. >> mr. peterson, i want to start with just a little vocab 101. debt versus deficit. we hear it used interchangeably. give our viewers a little 101 on this. >> three categories. deficits are what happens this year, and debts are the deficits from the history of the country, and then there is a third category that is much, much bigger than what the public hears about. the public hears that the public debt is about $13 trillion. they are not told that we have about $50 trillion -- i said trillion and not billion --

>> right. >> of promises and liabilities, largely, social security and medicare and medicaid, of which know money has been put aside, and those are promises we made. those are off the books. >> mike, i look back at 1992 when the first time the debt, the issue of the debt, ross perot brought it into the forefront and at that time it was $3 trillion. there was a couple years where we balanced the budget as a government, and got rid of the deficit but the debt continued to grow. i found this report interesting. you say by 2040, one of the largest out lies in the federal budget will just be the interest. >> today interest expense is $200 billion, a huge number. $100 billion of which is sent to foreign lenders who own half of

our foreign debt. and talking about the future, by 2027, interests expense will be the single largest line item in the federal budget. by 2055, it takes up all federal revenues, and it's unthinkable. >> there is no way to cut your way or spend your way out, because this interest has to be paid. >> once you incur the debt, you incur the future debt of it. that's a mandatory expenditure. >> the other thing, chuck, let's remind your audience that those interest payments buy us nothing. we can have -- >> nothing? >> produces nothing. but it crowds out the thing that every economists says we need, we have to invest in education and infrastructure, and what if we are spending all the money on interest costs. >> yeah, 1% or 2% increases on

the things you just said, education, and the debt will be at 11%. we know presidential campaigns, and lowering taxes and here is a teaser tv ad you will be running soon. watch. >> it was the hope of so many people. >> a new generation of challenges. >> the policies of this administration. >> what i was truly struck by -- >> are you going to run for president? if there is nobody else to do it, then of course i would. >> i am hugh jidette, and i approve this message. >> you're trying to bring more attention to the issue, and there are all sorts of reports

where there seems to be some consensus that somebody has to be done on social security, and in your report you seem to do the idea of means testing, and it could be another avenue, but obviously the democrats are saying hey, that's what we're giving, and republicans are not putting anything on the table, or that's the accusation from democrats. you have a chart in here talking about if you just did it with spending cuts, you would have to cut the government by 36%, and if you did it just with revenue or tax increases, you have to raise taxes by 50%, and you can't do both. >> let me say one thing about social security. nobody believes more than i do that we must preserve social security for the most vulnera e vulnerable. one of the things that worries me, if we do nothing and have a major financial crisis, the politics could get very brutal and violent and even the safety net for those that really need it could be frayed.

so this business of spending our taxes, we made that chart to make the point that you can't rely on just spending cuts, and you can't just on tax increases. you will have to do both. >> michael, what do you do, though? this is not a federal government issue, but a state government issue. state governments are tapping into ideas, and you are seeing legalization of marijuana, and that was an idea in california, and you see legalized sports gambling, and they have been coming up with odd -- nobody wants to raise taxes. they are all afraid of raising taxes. what is it going to take? if this bipartisan commission is going to come up with a framework for future bipartisan commissions, aren't we done? >> we're at a knew naek moment in time. as you mentioned at the outset, reducing the deficit was the number one issue in exit polls, so the government is more focused than it has been on this issue. and second of all, the fiscal

situation has never been so severe, so it's a knew yaek moment in time to get bipartisanship, and move at the federal and state level. >> before we go, mr. peterson, you wanted to make a point on the foreign held debt. you said half of the debt is held by foreign entities. how much is china and how much is russia? who are the foreign entities? >> the main point i want to talk about, is we talk about the debt as though it's a u.s. problem or a greece problem. one of the things that the research shows is that all developed countries have a very similar situation as the united states. they have reduced birth rates, and they have more elderly who are living longer, and they too have entitlement programs that are not funded. if you put all of those debts together, and we are living in a global capital market, it is clear that they are totally unsustainable. among the things we don't need

now is a global breaking of the debt bubble at the same time we have domestic problems. >> so it's a national security issue as much as a fiscal issue. >> yes. >> pete peterson, michael peterson, you guys will be reveiling more ads, and we will follow the candidacy, and it's an important thing, and we'll be checking in. a popular cruise ship stranded at sea with 3,000 passengers at board, and how much longer until they are safely back on dry land? don't forget mrs. collier.

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exclusive interview with the president and talked about the controversial decisions he had to make in his eight years as the president. >> let's talk about waterboarding. we believe america will be attacked again, and there is all kinds of intelligence coming in, and the chief operating officer ordered the attack on 9/11, and they said he has information, and i said find out what he knows. and i said to our team, are the techniques legal, and a legal team says yes they are, and i said use them. >> why is waterboarding legal in your opinion? >> because a lawyer said it was legal, and it did not fall within the anti-torture act. i am not a lawyer, and you have to trust the people around you, and i do. >> people said you got the justice department to give you the legal guidance that you

wanted. they said they got legal opinions they wanted from their own opinion? >> he obviously doesn't know. i hope he reads the book. that's why i wrote the book, and they can draw whatever conclusion they want. i will tell you, using the technique saves lives. my job was to protect america, and i did. >> on the decision to go to war in iraq, he says he was the decider. in a conversation you had over lunch with dick cheney and the buildup over the war in iraq, he said to you are you going to take care of this guy or not? i was surprised at the tone the vice president would use with you, and is it surprising to you? >> no, we have a frank relationship. >> his comment leads to the question was dick cheney pushing you to go to war with iraq? >> it doesn't matter if he was

or not, and i was the guy that made the decisions when we move, and he might have said saying let's go, and i said no. >> he is still haunted by the fact that the intelligence turned out to be wrong and weapons of mass destruction were not found in iraq. >> your words, nobody was more sickened or angry than i was when we did not have weapons of mass destruction. you still have a sickening feeling about it? >> i do. >> was there the consideration of apologizing to the american people? >> apologizing would basically say the decision was the wrong decision, and i don't believe that it was the wrong decision. >> if you knew then what you know now, you would still go to war in iraq? >> i -- first of all, i did not have that luxury. you just don't have the luxury when you are president. i will say definitely the world is better off without saddam hussein in power, as are the 25 million people that have a chance to live in freedom. >> you said history is not ready

to judge you yet, right, it will take time? >> yes. >> when it comes about, president bush, do you think you will be judged a success or failure? >> i hope it's a success. i will be dead, matt, when they finally figure it out, and i am comfortable knowing that i gave it my all and i love america and that i know it was an honor to serve. >> president bush is going to be live with matt lauer on the "today" show tomorrow, if you would like to submit a question for the president, go to today show.com, and you can submit questions on twitter or facebook. it was quite interesting, the body language about the president and the relationship that he still has with the vice president, dick cheney, is fascinating and the answer on waterboarding about putting it on the lawyers, it's only going to cause lots more debate. coming up, the next installment in the week-long series, meaning the newest members of congress, and who are they and what do they want to

do. plus, making it up along the way, and the bp chief makes an explosive admission about the company's response to the gulf oil spill. and yesterday, we brought y you del koresi, and what will they bring today. here is the question for today, and the answer plus more ahead on the "daily rundown." yet eass on the planet to help diversify, identify opportunities, take action. it's using professional grade research and your brain to seek maximum returns to reach your goals. it's investing with intelligence and cold hard conviction. you made the money. you should have everything you need to invest it.

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a few other stories making stories.

tow boats are going to help the ship, and it was headed for a seven-day tour when an engine room caught fire and no passengers were hurt. tony hayward says his company was unprepared for the disastrous oil spill. he called the response plan inadequate, and said quote, we were making it up day-to-day. go figure. who could have told that? and then mr. goodwrench is getting walking players. they will drop the name in an effort to emphasize the four remaining u.s. brands. good-bye, mr. goodwrench. and now the new faces joining the congress. this is the biggest freshmen house class since 1992. the second congressional district covering most in new orleans, that's where richmond

ousted the republican congressmen, joseph. >> he has always been there, making a difference for the community. new orleans needs the congressman in congress, and so do i. congressmen elect joins us, and first of all, congratulations. >> thank you, and good morning. >> let me start with, when you run for re-election in two years, and i am not presuming anything that you plan on doing that, but if you do, what are the three items that you said you got done to earn re-election? >> well, number one, the priority is to kin to enhance our recovery down here in louisiana. we are still recovering from katrina and rita, and then the." o pb oil spill.

and so we have a long way to go in terms of recovery, housing and those issues. i think that all of our issues down here are somehow encompassed by that. the main message sent by the voters on november 2nd was the american people want attention on the issues that are affecting them, job creation and the economy. and they are not interested in partisan bickering, and they are interested in congress and a administration focusing on their needs. those are the things that i would like to focus on and those are the things i think i will be graded on in two years. >> and gow won his seat because he had the infamous now frozen cash, $90,000 of cash in a freezer. and given the distrust after

katrina, and then your congressman appears to be somebody on the take. what can you do to restore the trust between people in new orleans and the government? >> i think you have to do it by actions. i served in the louisiana house for 11 years now, and i think i have the trust and the voters showed that on november 2nd. have you to do it by example and continue to work hard for the people and make sure that every day you work, you wake up and go to work, and they know you are going to work for them. i think that's the important thing. >> how are you going to show this? is there something extra will o do, anything you have had an idea about that you want to implement once you take the oath? >> well, we will run transparent. it's important when people feel they can contact and talk to you, then you get a better sense of it. the best thing we can do is make sure the people understand that we are focused on their needs,

and we're working very hard to make sure that we make their lives better. it's the quality of life thing here in new orleans, anddl expr my support to one person. i have not told the other person yet, and i won't tell you until i tell the other person that i am not supporting him. >> fair enough. and the second thing is earmarks. the prior congressman got earmarks for the fiscal year of

2010, and are you in favor of earmarks or will you support the moratorium to come with the new congress? >> i am supporting earmarks. i think it's important to be able to send money here, specifically for things that i know that's needed in the city. you have to realize that we're still hurting down here, and we still don't get our share of our revenue that we sent to the federal governments. since 1933, we sent $165 billion to the federal government. in my opinion, earmarks and getting some of the money back for specific projects in the district is a benefit to the district. >> all right. congressman elect senator richmond, and now i am sure that you revealed that you are supporting somebody, your cell phone will be ringing like on

election night when the white house was trying to get a hold of you. >> thank you. what newly elected republican had a life-changing event while buying french fries. it was scott. he says he was on the verge of flunking out of high school, and he met the owner of the fast-food restaurant who took him under his wing and taught him the value of self discipline and hard work, and now he is a member of congress. now to president obama's visit to indonesia, which could be cut short by a volcano. savannah is traveling with the president. everybody wants me to make some sort of pun here, so this is a real kick in the ash, isn't it? >> reporter: you're killing me chuck, killing me! how long have you been planning that? our producer knows how to bring out the best in you.

let's face it, this is a trip that has already been cancelled twice, and now it seems that this is probably going to be cut short. the president was only going to be on the ground here less than 22 hours anyway, and all likelihood is that he will have to cut it short. the main event is the speech to the students of the university of indonesia. i think that will happen. there is a visit to a mosque. that will probably happenen, too, and everything will be on a much, much tighter schedule. they are afraid there is a window in which air force one will take off and escape the ash lingering in the sky. >> before you reveal the white house file food of the day, very quickly what is the focus of the speech tomorrow and today, and it's obviously tonight we will hear about it, but what is the focus of the speech?

>> two things they are are trying to do, and that's reach out to the muslim world, and hold up indonesia, as an example of a democracy, it's a majority that is a democracy, and living with it's neighbors. they want to hold up indonesia as an example. and indonesia, a southeast asian powerhouse, and this whole asia strategy is something that is very important to white house aides. they think it's the wave of the future, if we can increase u.s. exports, they think it will lead directly to jobs at home. >> without further ado, what have you made scott foster eat and test before you will eat the white house file food of the day? >> reporter: now, you know, chuck, i take exception to you saying i would not taste it first, but scott foster did

taste this first, and the file food of the day is mie goreng, and that's basically noodles. i tasted them and the whole crew tasted them, and beats the mess soup any day. >> do you have any -- >> reporter: i am eating the food and not reading it. >> you are better off eating and less reading, because the more you know, the less you might eat. >> reporter: sleep would be good. >> sleep is optional. we will check in with you again, anyway. we'll be right back. of business in america. after 25 years in the aviation business, i kind of feel like if you're not having fun at what you do, then you've got the wrong job. my landing was better than yours. no, it wasn't. yes, it was. was not. yes, it was. what do you think? take one of the big ones out?

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you missed decision 2010, haven't you? it's the decision after 2010. let's start with 2012, the presidential battleground. let's look at the 2008

presidential map. president obama took 365 electoral votes, and including ten states that voted for president bush in 2004, and including one electoral vote in omaha, nebraska, by the way. how will the states split up in 2012? by the way, there is a whole new numbering system on the tally, but we know there will be some tweaks in the numbers and we have an estimate with what we're doing. let's walk you through the battleground map. base states. 13 states plus the district of columbia that we see solid or likely democratic in 2012. the votes in those states will add up to 172 electoral votes should all the reapportion estimates be included. we'll add another 66 electoral votes to president obama's column. if these lean democratic states which will be in the battleground and republicans will contest them heavily and right now still look like they're still sitting in the

lean democratic category. that will bring the president up to 238 in search of another 38 electoral votes. now, let's look at the republican map. here is the likely and solid republican numbers here. 177 votes. as you will see, a lot of the center of the country, a lot of the plain states, but, of course, it is anchored by texas which is only growing in significance. we have four states that have we have in the lean republican category. another 29 electoral votes. that doesn't mean that democrats won't contest this, but these are the four that right now we believe start out in the lean republican category, including one state that president obama carried, north carolina. by the way, you throw the leans together and we're up to 206. eight states in purple here. 94 electoral votes. the president, obviously, has to figure out a way to find 32. if our map is correct, you look at the republicans and they have to figure out how to find 64 out of this.

florida and ohio, obvious in that respect. the new addition, really, to our toss-up. new hampshire been a tossup for years and florida and ohio for years and now virginia we start out in the toss-up category, colorado, new mexico, nevada, the new addition here is wisconsin. believe it or not the last republican to carry wisconsin in a republican race was ronald reagan in 1984. you saw a big seat change it seem in that state and of all the rust belt states, that is the one that is most vulnerable. in 2004 bush narrowly missed carrying wisconsin more so than any of the other midwestern states whether it was iowa, michigan, wisconsin was the one that was razor thin. the first start, if you put all the leans and tossups together the battleground starts at 33 states. follow us any time on twitter.

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well, that's its for "daily rundown." coming up next "chris jansing & company." at 1:00 p.m., "andrea mitchell reports." savannah, i believe, will be coming from seoul. we'll see if she is a soul woman when she gets there.elps make pe . then they shared this technology with researchers at wake forest to help reduce head injuries on the football field. so, you know, i can feel a bit better about my son playing football. [ male announcer ] how would you use toyota technology to make a better world? learn how to share your ideas at toyota.com/ideasforgood. [ male announcer ] ever have morning pain slow you down? introducing bayer am, an extra strength pain reliever

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a massive nationwide bust. 69 children rounded up across 40 cities by the fbi. nchsh deadly, violent volcanic eruptions may have a big impact on the president's trip to indonesia. former president george w. bush on the record on some of the most controversial decisions of his presidency, including waterboarding. >> they can draw whatever conclusion they want. but i will tell you this.