not the by-product of creating we wealth. president obama is making fairness the central issue of this campaign, and that's why bain matters. >> my view of private equity is that it is set up to maximize profits. and that's not always going to be good for communities, businesses, or workers. and the reason this is relevant to the campaign, is because my opponent, and his calling card for being president, is his business experience. he is saying i'm a business guy, i know how to fix it, and this is his business. and when you're president and not the head of a private equity

firm, then your job is not simply to maximize profits. your job is to figure out how everybody in the country has a fair shot. your job is to think about those worker who is get laid off, and how are we paying for their retraining. my job is to take into account everybody, not just some. my job is to make sure the country is growing not just now, but ten and 20 years from now. this is not a distraction. this is what this campaign will be about. >> that's exactly right. that's what this campaign is about. that's what matters in this election. today, republicans were jumps for joy after corey booker defended private equity campaign. and romney ran an add using booker's words to address it.

just take a look at this chart. showing how income has grown in this country in the last three decades. the top 1% saw their income grow by 277%. while the bottom 20% saw their income grow by a meager 18%. the rich got way richer. but everyone else just got a bit more. and it's affecting the ultimate american dream of creating a better future for our children. helping them to move up in the world. as the new york times reported, this year, studies show americans enjoy less economic mobility than their peers in canada and western europe. the rich stay rich and the poor stay poor, and about two thirds of those born in the top 20% stay within that top 40%. about the same percentage of

those born in the bottom 40% stay in the bottom 40%. the job of the president is to look at problems like this and fix it, not make it worse by making rich people richer. >> if your main argument for how to grow the economy is i knew how to -- make a lot of money for investors -- then you're missing what this job is about. it doesn't -- it doesn't mean you weren't good at private equity. but that's not what i job is as president. >> joining me now is ed rendell, now an msnbc political analyst, and michael steele.

>> governor, let me start with you, is the president making the right case for the relevance of bain capital in this campaign? >> yes, governor romney has made his experience at bain capital a central point why he thinks he should be president. it's only fair as a full exam fair of what they did and didn't do for the people. governor romney said that bain produced about 10,000 net jobs. and now that figure is up to 100,000. it's probably a good idea for some to look at all of the deals and see what real story is. did it produce jobs or cost jobs? and number two, when you look at the deals, the deals where the two described in these commercials were companies were

put into bankruptcy, workers lost a substantial portion of health care. and they took out tens of millions of dollars in some cases. we have to try to determine if that is annest kal way for businesses to proceed. it's legal and proper, and we need private equity. but that has one goal and that is to make the greatest return for your investors. as president, that's not your only goal. creation of wealth is not your only goal. economic security has to be the president's goal. >> now, when you look at this, michael, the fact is this is the fundamental disagreement between these candidates. so clearly it should be relevant. yesterday on "meet the press"

jim crammer said. >> that is how they make prosperity for the rich, and that is more than what romney comes up with. >> before you respond, look at the chart. if we look at the facts, we'll have different opinions, the facts are if you go through the companies, company after company, bain made huge profits while people lost jobs. ampat 385 jobs lost, profit $100 million. >> gs industries, 750 jobs lost, $12 million. ddi, 2100, $52 3 million. mr. romney is the one that brought up bain, he does not run on being governor of massachusetts. he brought it up saying he was a

job creator. we have the obligation to see if that is the case. i just showed you the facts. >> you showed me some of the facts. the reality is yeah, 22% of the deal that's bain was there, the companies did not survive the turn around. jobs were lost. but 78% of the jobs were kept and expanded and those businesses survived. in the very commercial that started this question, the president's team just did not lay out the facts, since we're talking about facts, that romney wasn't at bain the time that deal was struck with those workers and their company. two, the person running company is his major donor, fundraiser today. the reality is that company survived another eight years.

it wasn't until eight years later -- >> let me finish their point, everybody got to finish theirs. >> you're not dressing my point. >> that's my point, 22% -- you can find the -- >> we do not know what percentage of those 78% of the companies remained in business. jobs were creating in. we're talking about jobs creating, let's not change the premise. >> i'm not changing it, i'm expanding it. the vaelt you want to take a narrow negative slice. >> where did he create jobs -- >> he created jobs, they were created by the, for example the company in that commercial, go back and look, they survived eight years.

you mean they didn't hire anybody else? >> did they? >> the facts are in the commercial. >> the facts are that you don't know. mr. governor rendell -- >> okay, can i ask a question? michael. do we know, and i think this is honest and fair what the net which? you said he did produce some jobs, do you know what net is? he said the net was 10,000, now he is saying the net was 100,000. do we know what the net is? >> that is something the campaign put out and the campaign updated that information and they have been clear about the specifics on that, and they're standing behind their number. >>. >> the campaign is saying thousands now. they started at 1090,000. i gave a chart of facts, if you

have the chart of facts -- >> i don't with me. but i think -- >> don't you think that's an obligation to put out each deal how many jobs were created and lost? >> i don't think so. i don't think that is necessarily, you can -- maybe site one or two, the reverend had four companies up there, site two, three, or four. the facts are throughout that a vast majority that they helped and assisted in romney's time, 78% or more went on and survived, and jobs were creating and people kept their jobs. >> we can agree with that, michael. he should give examples. if he's going to call himself a job creator. let's not get away from the fact

that the president, mr. rendell, me, he called himself a job creator. >> so let me ask yo this, is the president a job destroyer because we still have 23 million americans who don't have their jobs? about 3.5 million lost their jobs in his tenure. >> the answer is the president -- [ talking at once ] >> let me answer you, the specifics is for 26 consecutive months, jobs have been created. i ask you to show me where romney created jobs. >> and i said yes he did, for a lot of folks out there he has created jobs. >> where? >> in fairness, let me make this point, you say 78% of them survived, and they did, i'm sure that's true. >> but we don't know what that means. >> but they may have survived

going from 380 to 175 jobs, so we need to know the facts, and he started to waffle on how many. >> i don't think they waffled on that. >> it was 100,000 in the campaigns, and now it's thousands. >> and this is the debate, if he has specifics to raids, she should have raised them be now. >> i think that's a fair point to make, if there are two or three examples of that fine, put those out there. it sufficient sets the four company that's you put up there as an example of the whole thing. >> it's not being a question of being excited, you would not let me finish my point. >> you should let me finish my point and then you tell me i didn't address it. i get the negative slant,

finding three or four and looking for off set. i agree there should be and there is. the fact of the mat sere this discussion about bain to the top of your piece, is really important about how we create jobs in the country and whether we invest that effort in the private sector or do we invest it in the government? the president wants to invest it in the government. romney wants to invest in the private sector, and that is the core of the debate. >> i agree with you. when you deal with the income growth in this country, thewet disparity, and how we deal with that, you have two different ways that are being proposed by the candidates that could not be more opposite, and that's what i think this is about. i like corey booker, but he is the mayor of newark.

what are you talking about? when you're the mayor, you have record unemployment and vulture capitalist will not ep us rebuild, corey come on. >> thank you for your time tonight. >> corey, go boy, you got it. >> boy? okay. coming up, president obama faces a stunning attack from one of the gop'sizing stars. -- gop's rising stars. >> never has we seen such an effort to divide the american people. >> and catholics, leaders way back into the debate over women's rights. this new lawsuit could backfire on conservatives. plus republicans love to talk about how paul ryan is so

serious about the deficit. but he is making some laughable claims about the budgets put out by his own buddy, willard. ♪ [ male announcer ] american innovation. 29 years ago, it helped us invent the minivan. ♪ today dodge grand caravan is the most awarded minivan ever. ♪ who knows where innovation can take us next? ♪ directions to the moon. ♪ diarrhea, gas or bloating? get ahead of it! one phillips' colon health probiotic cap a day helps defend against digestive issues with three strains of good bacteria.

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mitch mcconnell says he and speaker boehner were the adults in the room on last year's debt ceiling showdown. and keith ellis on wanting their own facts again. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine.

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folks, we said it many times. you can have your own opinions, but we have to agree on the facts. take, for instance, paul ryan. the republicans say he is a serious guy with serious ideas, and a serious budget. >> the ryan budget sets the bar for the debate going forward. >> this document does begin to address serious fiscal challenges we face. >> congressman paul ryan, who, by the way unlike the president, had the courage to offer serious solutions. >> but it's hard for me to take him seriously when the things he said don't ad up. on sunday he said this. >> the kind of budget that mitt

romney is talking about is going to prevent a debt crisis. romney's budget prevents a debt crisis? really, the center for american progress says it would add $10.7 trillion to the national debt. he makes it worse, and ryan himself isn't much better. his own budget would had $3 criminal to the budget over ten years. the gop doesn't have any credible on this issue. it was a republican president, with republican policies, that gave us this recession and this debt. now we want us to trust them to fix it? joining me now is a democrat from minnesota, thank you for joining me tonight congressman ellis. do you think paul ryan or mitt romney are serious guys withes serious ideas about our economy?

>> no, they're not. as a matter of fact, their philosophy to take money from the rich people and give it to the poor, gave us record deficits. these two tax cuts in the bush era. the war, and the unfunded medicare part d landed us in the crisis we're in, and what is their prescription? more of the same. we need a radical departure from trickle down economics. and all of us americans together, those with the most privilege, paying the bills of the country that would eliminate our debt and deficit. >> now, the after math of last year's crisis debate, they came through these things that were being presented. u.s. credit was downgraded, u.s.

st stock index plunged after all of that, this is what we end up. they're threatening now, the same way again, even when we see the same results from last year what they did. this cannot be taken as people committed to the good of the country or that are serious about the economic stability of the country. >> they're committed to their ideology. they're committed to this idea that if you cut taxes for rich people, they mht invest in equipment that they might decide to hire a few folks. this is flawed economic theory, it doesn't work that way. we have massive amounts of infrastructure needs that need to be met. we have record low interest rates, money is cheaper than any

time in a generation. why don't we rebuild america? that's exactly what they don't want to do. they want to cut programs that help the poor, and give more tax breaks to the rich, which is a recipe for more disaster. as you pointed out, last august, they were willing to default on america's debt that would have increased, significantly, financial trama on this nation. and now they're threatening to do it again which threatens the very fragile economy. >> thanks for your time tonight. >> thank you. >> still ahead, gop rising star senator marco rubio claims president obama is the most devisive figure in modern american history. really, he should look at the company he keeps.

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folks, by now you probably all heard of this man, joe ricketts. he founded td ameritrade, his

family owns the cubs, and he was at the center of the smear campaign last week. he was considering funding a nasty campaign that kargted obama's old president jeremiah wright. he funds a super pac called ending spending action fund. his spokesman says he will "work hard to help elect a president this fall that shares his commitment to economic responsibility" so ricketts is all about cutting the deficit and government spending except when it helps him. they want a whole lot of government money to help update wrigley field. they want $150 million in

taxpayer backed bonds. and a share of increased tax revenues once the renovation is complete. how does that square with his politics? >> i think it's a crime for our elected officials so borrow money today to spend money today, and push the repayment of that loan out into the future on people who are not even born yet. >> yes, a crime for elected officials to borrow money from taxpayers except if it's going to your pocket. nice try, but it's a swing and a miss. great grains cereal starts whole and stays whole. see the seam? more processed flakes look nothing like natural grains. i'm eating what i know is better nutrition. mmmm. great grains. search great grains and see for yourself. diarrhea, gas or bloating? get ahead of it!

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today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers.

of how a shipping giant can befriend a forest may seem like the stuff of fairy tales. but if you take away the faces on the trees... take away the pixie dust. take away the singing animals, and the storybook narrator... [ man ] you're left with more electric trucks. more recycled shipping materials... and a growing number of lower emissions planes... which still makes for a pretty enchanted tale. ♪ la la la [ man ] whoops, forgot one... [ male announcer ] sustainable solutions. fedex. solutions that matter. >> welcome back to "politicsnation." marco rubio is lobbying to mitt romney's vice presidential

running mate. but the senator doesn't understand the meaning of the word devicive. >> we have not seen such a devisive figure. never have we seen such an effort to divide the american people. let me break out the dictionary. divisive means braeting hostility between people. if you knew what the word meant, you would not have jim demint introduce you. remember when he said this? >> if we're able to stop obama on this, it will be his waterloo. breaking the president has been

a goal of senator demint since day one. the night of president obama's inauguration, him and other gop leaders were a mile away plotting how to block and undermine his attempt. he likes to talk about devisiveness, but has he met the leaders of his party? >> we found common ground. >> why won't you say -- you're afraid of the word. >> i reject the word. >> how is that for divisive senator rubio, take your dictionary with you because this is not divisive. >> we're greating together than on our own. we succeed when everybody gets a fair shot, and everybody does their fair share. when everybody plays by the same

rules. [ cheers and applause ] these are not democratic values or republican values. these are not 1% values or 99% values, they're american values. >> joining me now, former congressman allen greyson, who is now running to return to congress, and joe madison. thank you both for being here. >> thank you reverend. >> let's start with you. senator rubio thinks the president divisive. >> obama called for one america. and that speech enabled him to win a democratic nomination

because that was an idea that appealed to americans across the board. but what he has been faced with from the republicans division, division for the sake of division. more than 150 republican amendments including that bill and no republicans voted for it. lock at the grand bargain, and the republicans would not show up and negotiate for it. they're also guilty of subtraction. they have subtracted jobs, health care, they subtracted from public education, and they want to subtract medicare, medicaid, social security, and student loans. >> it's interesting you say that, because the fact of the matter is when you deal with this question of divisiveness.

some have criticized him for laning over too much. now it's almost laughable in some circles skb. >> joe, we also saw rubio attack the president's education, watch this. >> the president and his party's view of america's government and our live social security a failed one. it has not worked. these ideas that sounded so good at harvard and yale have not worked out well in the real word. >> harvard and yale, not working out in the real word. >> they have worked out well in the real world. and he took that degree from harvard, and his wife took her

degree from harvard, and what did they do? they didn't got to wall street and end up trying to invest in derivatives. they worked in their community, and congressman, as he pointed out about the distraction, rubio although to recognize that his party would not support president obama when he granted cuban americans unrestricted rights to visit their families and to send now to cuba. he added that and rubio is against his own people. he added 2.5 to 3 million jobs in the private sector. he added and expanded loan programs for small businesses.

so i mean, here is the pot calling the kettle black as your staff pointed out in the presentation of this segment. they're the one that's said at the very beginning in the caucus room in washington, d.c., that we're not going to work with this president and we want him to fail. and if he fails, that means unfortunately what? the country fails. that is divisive. >> governor chris christie attacked the president when he was addressing kentucky republicans. he said "president obama cared more about posing and preening

than congress" and joe walsh, a constituent attacked the president, and congressman walsh listened. >>. >> she should have said it, he said i believe in socialism, communism, whatever, and say this is where i want to lead the country. >> how ever you want to label and define it, done you think now after three and a half years as a country, now we have a really good idea where the president wants to go. >> exactly. >> i mean, real ugly kind of crazy shrill language being entertained and in some cases being recycled by some of the leaders in the republican party in some cases. >> well, you're going to see

nothing but personal attacks against him for the next six months. this whole question of his birth certificate, when has a white president been asked to produce a birth certificate. they have no answers for anybody. they have no health policy worth discussing, they basically say don't get sick. no education policy, and their economic policy is reverse robinhood, stealing from the poor, giving to the rich. >> these guys must be trying to get a job with the next men in black movie. i don't know what planet they ruled on. anybody in their right mind knows you can't be a economist and socialist at the same time.

the nazis fought the communist and these are boogyman terms. >> i'll tell you something else, you don't criticize a candidate and incumbent president for a harvard degree when your candidate has two degrees. >> thank you both for being here. ahead, today, major catholic groups announced lawsuits against the obama administration over birth control. one of the biggest wants to stop feeding the poor. on a lighter note -- now we know what inspired the president to sing at the apollo. ccessories.

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tuscaloosa? schenectady. des moines. ok. ok. ok. i can't always be there to weed my petunias. so now we use miracle-gro shake 'n feed plus weed preventer. it feeds plants and prevents weeds for up to three months. so my plants grow bigger, more beautiful, without all the weeds. guaranteed. [ cellphone rings ] with miracle-gro shake 'n feed, anyone can have a green thumb. [ cellphone rings ] everyone grows with miracle-gro. >> we've seen the clip over and over again, and today we're finally finding out what was behind the president singing at the apollo five months ago. [ cheers and applause ] ♪ i'm, so in love with you at the launch for the g 8 summit

over the weekend, president obama let the cat out the bag. >> i want to acknowledge a good friend. we were just talking backstage. he was my inspiration for singing at the apollo. bono is here, and it is good to see him. >> so there it is. the president says u 2's lead singer bono was the inspiration for singing "let's stay together" both are called on a world cause. that's music to my're others. the value plan. unt dollar for dollar, nobody protects you like allstate.

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overrule common sense. this is how we tame the unwieldiness of air travel, until it's not just lines you see... it's the world. the debate other -- over birth control is back.

today catholic groups filed a lawsuit against the obama administration. they're challenging the mandate that their health plan include access to birth control for their employees. new york's carlo dolan says they will have to choose between helping the poor and providing equal access to health care. >> we don't want a dooms day share owe where if the mandates click in, we will be faced with a terribly difficult decision of whether or not we can continue to operation. >> we educate the kids, take care of the sick. joining me now, barry lynn,

ektive director for americ ektive. >> what do you make of what he said? >> he is wrong about almost everything in this state. the christian church has been primarily interested in helping the poor. that is how it got started. this issue didn't come up until a pope rote a letter condemning date of birth control. it is not mentioned in the bible, is not an issue. but it is so unethical for a leader of the church to say if obama's rules go into effect, we might stop helping those in need. it's shocking. >> that's what i want you to explain, because i'm sure a lot of people are confused as i am,

what does birth control have to do with helping the poor? >> it doesn't have anything to do with helping the poor unless it's available. of course if you want to control family side, making that moral choice, that's what we ought to the be protecting. there is something phoney going on here talking about a corporate conscious of the church. i'm interested in the conscious of individual women, employees, and students who want to space out children, who want to use birth control, and use it in a responsible fashion. . that's the conscious we ought to be protecting, not a phoney corporate conscious. that's even sillier than corporate free speech. >> the reason i'm saying i'm confused, i understand the argument, but what mandate says is they must make things available to their employees. they're not telling them they must take it, they're not saying

they must violate their beliefs but they must respect the rights of their employees. so how do you say rather than respect them, i may have to stop taking care of the poor, how do you rationalize that? >>. >> i can't, and when he makes the comments, he is repud rating his hir tire and commitment to those in need. and ultimately, al, this is not just about the arch diosis not wanting to parties pace. any roman catholic employer should have the right to say i'm not covering anything i disapprove of. i don't mean just a person in a

catholic hospital, i mean a person that runs a bookstore or restaurant. and there was a man that said if he decided to quit his job and decided to own a taco bell, not something he is likely to do, but he would want to write as a individual catholic to deny coverage of birth control for his employees. there is no way this administration that tried desperately to come up with a compromise, there is nothing else to compromise. they didn't get what they want, and now they're going to demand and threaten they would take their services away from the poor. >> amazing story, thank you, it's an important issue, thank you for your time tonight. >> thanks. >> i spent my life fighting for justice and dealing with critics. [ male announcer ] it starts small.

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tonight i want to close the show talking about the cause i dedicated my life to. something i fight for everyday. justice. our nation rests on the foundation that the law must be applied equally to everyone. but all too often, it's not. here in new york city, 86% of the people stopped by the in policy is black or hispanic. it's a crime when the law is unfairly applied. that's why national action network and labor groups are planning a mashment here. today, police commissioner ray kelly rote an op-ed that praises me and acknowledges tough questions that critics like myself are asking.

african-american clergy have been considered about crime. they were among the few to talk about the problem, even as sharpton continues to criticize the police when he perceives excess. commissioner, facts are facts. it's hard to misrepresent this one. a disproportionate number of people being stopped of people of color. it's a matter of justice. in america today, issues of race and justice are all too often confused and distorted by the right-wing media. over at fox news, bill o'riley has been talking about a white couple beaten by black teens. now he is calling for justice.

>> in america we're supposed to have equal justice for all and there are many laws protecting minorities, but a bias crime is a bias crime no mat whaer kin clofr involvemented. >> of course people should be prosecuted if they did that, but these four teens have already been charged in this attack. the justice process is taking it's course. by contrast, trayvon martin family lawyer called me to get involved because justice was not taking course. george zimmerman needed to be arrested, the evidence supported that. >> i did not come to florida after talking to sybrina and tracey to convict zimmerman. i came to say what is good for

one is good for all. >> black, white, gay, straight, young and hold, the same standards of justice should be applied to everyone. it's the reason i fought unfair immigration laws for latinos. these are unjustices that need to be corrected. we must have the aim standard of justice for everyone. i only go when i'm called and if the justice system isn't working. that's not ambulance chasing, too often we're the only ambulance. "hardball" starts right now. sunday massacre, let's play "hardball."