welcome the lower show where you'll get the real headlines with none of them or see me live in washington d.c. now as politicians talk and talk about the dire u.s. debt situation they simultaneously plan to extend the bulk of the debt debate past election season so one can't help but ask about electoral politics short term political gains are stopping us from tackling the enormity of our debt that is president obama headed to the border town of el paso texas today the discuss immigration we're going to take a closer look at what benefits immigration could have when it comes to boosting the

u.s. economy but we also know that the president had another agenda in his speech today to gain the support of a skeptical hispanic vote and in light of the fact that his previous efforts to pass immigration reform and all of it fails we cannot but wonder if this speech today is just filled with more empty promises and is gearing up to be the largest illegal bit torrent downloading case in u.s. history but is this really about eliminating piracy or is it just a scam to make more money i'll be covering all that and we'll have our happy hour segment on tonight's show but for now let's move on to our top story. today is may tenth the debt ceiling was supposed to be hits may sixteenth just a few days from now but now treasury secretary tim geithner said the measures can be put in place to push the deadline for a vote on the debt ceiling until august second and he and obama have both rejoiced that if they get a two trillion dollar raise the problem is going to be put off again until after november two thousand and twelve elections yesterday speaker of the house john

boehner addressed wall street and financial elites at the economic club of new york . let me be as clear as i can be without significant spending cuts and changes in the way we spend the american people's money there will be no increase in the debt limit. and the crutch should be greater than any accompanying increase of the debt limit the president has given. were talking about billions here we should be talking about cuts in trillions if we're serious about addressing america's fiscal problems but what kind of cuts neither party can agree on what to do here do you wave medicare medicaid the entire social fabric of this country or do you look at defense spending oil subsidies and tax breaks for the rich in general it's all war politics what really is a massive financial problem but as the world thinking the u.s. can't get its house in order so here to discuss this with me is dean baker

co-director of the same or for economic and policy research and anthony randolph co-director of economic research for the reason foundation john and i thank you both for being here tonight so first starters if we look at what's going on in both parties both of them claim to be serious they can't agree on any kind of solution and they've all dug their heels in so is this going anywhere i mean can you really see it progressing and coming to some kind of a resolution will come to resolution because at the end of the day would people really have their backs against the wall street i mean if it worse came to worse if you actually invision situation where we could not pay off our bills we had thoughts on the debt country still get existed you would have financial crisis if you were in two thousand and eight but the country still going to exist what won't exist is goldman sachs j.p. morgan morgan stanley and the rest of them that's why at the end of the day you know we're going to solve this problem so this is a little charade and people should be upset about because the real problem facing the country here of course is the recession we still have almost twenty five million people unemployed underemployed or the workforce this is just silliness so

you think that it's only going to get resolved just because wall street wants it to essentially i think is going to go. results because the republicans don't have to start a back on this is there purporting to be a we heard leader banners speech last night and yes there is the definitely a strong desire amongst republicans to get something for this and i think that they will wind up getting something for this particularly if you listen to democrats over the last reset senate democrats saying yes we need to show we show some sign that we have a belief in fiscal responsibility and so there's going to be something but i really don't think that even speaker boehner is realistic about his dollar for dollar sort of for an increase in spending i don't think that there are many republicans really other than maybe the tea party think that's even possible there's not a trillion dollars of cuts that you can do without going to entitlement spending there's no way they're going to get entitle much spending sort of reform in the next couple of months so it's going to wind up being something like what we saw with the two thousand and eleven budget in my view where eventually they're going

to agree on something that's going to be smaller than what the g.o.p. is saying right now but then speaker boehner can go to the tea party and say this is the best deal i got for you it's the thirty eight billion info cuts or whatever it's going to be in will wind up caving so what's the real problem here is that the way that our political system works the way that everybody is constantly just looking for the next election cycle right as you said is just about showing some signals that maybe we're actually have these goals in mind that we want to reduce government spending it's about getting a few concessions but and can anybody honestly have a real conversation about what we need to do to get our financial house in order to make it so that we don't have fourteen trillion dollars in debt if it's constantly acute here election cycle and everyone is worried about their own but well actually it's their financial loss is in order what's not orders are economic house we had a housing bubble the media didn't want to talk about and they should talk about that because it was easy to see that was going to blow up put the economy in a really deep hole and actually give us really huge deficits but instead we're talking about the a trillion dollar housing bubble they were yelling about the deficit we had back in

two thousand and five two thousand and six two thousand and seven which were nothing so i'm going through. but for most the media because what they should be doing is beating up on boehner and obama for yelling about a non-problem the deficit which is not a problem right now we should really want a bigger one because we need to employ people and then if they get ridiculed them every time they said this nonsense they won't say it we could have a discussion about the real issues so first and foremost the problems that need it do you think that the deficit is a non-problem right now that we really should be concentrating on the thing i think is absolutely problem but i think there's three big problems they want to purposes so that's the budget right now short term what cuts are we going to put in place over the next five ten years to balance a budget can we do it in ten years that's one problem the second is a long term debt problem and a simple fact the matter is the entitlement programs that we have are unsustainable over the long term and there need to be significant reforms made what those look like there's a lot of different options but that has to happen and the third thing is the tax code has to change those are three huge it's not just small changes it's not just

increasing income tax or hear what you're going to do with corporate taxes it's a wholesale reform of the way that we look at the tax code whether or not we should have corporate taxes what income taxes should look like whether or not we should go to a consumption tax those are three big things and it's challenging to have those conversations in a political environment like what you're talking about with the media it's almost impossible for real conversation to happen like that in public given the way the media jumps on everything and everything about soundbites but then is it also impossible i mean think about this from i guess an international perspective right i mean some of the things that we worry about if we did indeed is that the dollar would completely planet right now we don't want you you lose the faith and credit of the united states but it's already looking that way any time you have any kind of a you know i cannot make summit or for in these days everybody is concerned around the world about u.s. debt china is concerned about us that because they're inexplicably linked these days so from the outside it looks like we can't figure out what the hell we're

doing why would anybody have any faith in the united states you know in terms of our dollar in our economic. strength right now comma so to say we look at what people do rather than what they say of china's concern about us that these are the dumbest people in the world because of buying got huge amounts of it and i don't think i really don't i mean they might make mistakes here and there but i don't think they're stupid people they're buying up there and in fact investors around the world are buying it very low interest rates the interest rate in check today it was somewhere around three point two percent on the ten year bonds if you go back to when we had surpluses at the end of the ninety's it was about five and a half percent so they're not concerned so there might you know we can't get our house in order in this in that they're not concerned about and finally this story about the dollar falling through the floor yes china we've been trying to get them to raise the value of their currency fifteen twenty twenty five percent are they going to let it be it's currently about six point seven one two dollars a gallon at ford for wanted three you know they would go nuts so this is simply a non concern it cannot possibly happen what do you think. what i think is that if

if we are only looking to what other people say about us and that's like the only thing that sort of bring us together then we've probably lost like we need to actually come together and sort of think internally about whether or not we want to be serious and responsible but i'm saying i don't think anybody cares about what anyone else around the world also is tied to the u.s. economy is thinking because we're so caught up in our internal domestic politics the last thing we got to wrap it up soon how about how about how does that actually affect the average american right now do they care about the data they care about deficit reduction all they know is that the middle class is dying and they are very sure about secure jobs they care about their medicaid is so security when they retire that they don't know if they don't we're going to have this large you know we know you have a small number of policy wonks here in washington who knows the books well but doesn't know the i think the way that this impacts sort of the man on the street is that this is a distraction that this is the only thing congress is dealing with when there are other things that we should be addressing and immigration reform is an important one what are we going to do about housing we need to address fannie mae and freddie

mac. we need to address housing finance system there are major coup or sort of policy structural things that need to be done. with have to be dealt with on a federal level and congress that are being paid attention to because all the bickering is about what kind of political posturing can i in value can i get to where i'm going to stay out of the debt ceiling or not or what i'm going to say about the budget but i'm not going to have a real conversation with all the worries or not to have that feeling that i had to deal with this all the time right didn't i thank you both for joining us tonight it's now coming up president obama calls for immigration reform but it was just an attempt to win the hispanic vote and twenty two out tonight we're going to look at still interviews on immigration reform a look at the political impact and the economic growth that immigration is place here in the us will be right back. let's not forget that we sat in a parked car right. i

think. well. we never got to the shows they're going to keep you safe get ready for the freedom . charter here broadcasting live from washington d.c. coming up today on the big picture. new web site twenty four seventh's live streaming newscasts what to do about the

ongoing financial hardship unlimited free high quality videos for. download. all the. stories you'll never find me me me. me me. me me me the. post you are too much to say. hey guys welcome to shell and tell me alone a show part of our guests have to say on the topic now i want to hear audience is going to use you to video response or to twitter for part of the question that we post on you tube every monday and on thursday to show your responses we played your voice. when we talk about america's economy the need for job creation to get us out of this rut but we also have to talk about immigration highly skilled immigrants help us stay

competitive they're innovators entrepreneurs doctors engineers researchers but thanks to u.s. immigration policies they're leaving and it's something of the president addressed today when he was speaking out. let's say we provide students from around the world with these is to get engineering and computer science degrees at our top universe. but then. our laws discourage them from using those skills to start a business or a new industry here in the united states. instead of trying to doctor put the worst to stay here we train them to create jobs for our competition. but the thing is if we're serious about making the u.s. competitive could coupling visas for skilled labor with comprehensive immigration reform be doing more damage than good joining me to discuss this is vivek wadhwa

visiting scholar at university of california berkeley and senior research associate at harvard law school under rector of research at the center for entrepreneurship and research commercialization university divac thank you so much for joining us tonight. now the president here obviously i think is trying to take those people some of them that are very passionately against immigration reform because they see this as an amnesty issue and i think using this economic story here which is incredibly important but using as a distraction and so nonsense he's putting the two together i think we both know that there is absolutely no chance of any kind of comprehensive immigration reform is going to get passed so in essence is even hurting you know this program in order to create more visas for entrepreneur is for startups for people to stay here and innovate and you know create jobs in this economy. sadly that's what i believe is happening that he's been linked to different things in there's no way that we're going to agree to providing amnesty for illegal workers i mean you know

compassionate i feel sad for them but this country is not in the mood to resolve that issue right now it's years before we'll come to grips with it in the meantime we have all this gold american scientists you know doctors engineers you know researchers who are stuck in limbo there who they are going north from all over the world that want to come here and start companies to create jobs we're not letting them do that so we're holding up we're basically holding these skill immigrants hostage to the plight of the unskilled which is really selling the president basically is saying the right things but he's not pulling up his action with the right words to walk us through some of the anger is now even if we go to let's say silicon valley how many of the employees there how many of the founders are coal founders certain startups there really are made up of immigrants yeah you'd be surprised that fifty two percent of all of startups in silicon valley more than half are founded by people like me who could buy people going abroad who are

nationals who came here primarily to study or they came to work decided to make the united states their home and typically are clear thirteen years of being here they decided to start companies and in two thousand and five alone they employed four hundred fifty thousand workers they generated for to do billion dollars of revenue these people are creating huge amounts of jobs for americans and the problem is that because of the the backlog the immigrant immigrant backlog we have a million skilled immigrants are waiting for green cards you know we keep talking about the twelve million or poor unfortunate who who entered the united states illegally their million people here who came here illegally as students on it one b. visas or other visas legally to the front door who are now stuck in limbo can't get a green guards who get frustrated and who are going back home to other countries and boosting a lot of pressure there it's a disaster for the united states but i just wonder. even if you know if the system was made easier for some of these immigrants in order to get green cards would that

solve all the problems in yourself and done studies that shows the brain drain and it shows that a lot of people they want to go back to china are they want to go back to india not only because of the opportunities there but because they have a connection to the country they have some kind of nationalistic pride they have family ties there not to mention the fact that skilled labor or any kind of labor their skilled or unskilled is much much cheaper than it is in order to run a business and the president not as he or she really knew almost every thank you have said you have to sell you wrote that those are the key issues here but right now if you go to india and china there are more opportunities for to preserve them in the united states we serve them we found that seventy two percent of the people who went to india i think eighty five percent of chinese said that the grass was greener can't so yeah things are better over there was going to start competing me just because you know you have another company offering your employees more money doesn't mean you have to lose your employees you can figure out how to keep your best workers you know the limited people over here many of them could be starting

the next microsoft the next googles and creating thousands of jobs we are letting them do that we're thought to have whether whether they want to go back or not even though they might be going to show or india or china or cello the fact is they don't have to go back once you're here you develop deep roots we want to become an american we're not given the choice we're saying you know you leave because you want to get us up but so then what is it that's going on or why do we have this attitude why do we have such strict immigration policies for skilled labor are we in denial we think of they don't want to go back to these countries because you know because they might not be democracies or because of poor infrastructure and you know we always think that we have more to offer. yes a number of senators who've been really against and other governors and really good skilled immigrants live in the sixty's in the days when you had you know the only two in both that russia and so we did in and around america and it was basically one of the other the world has changed it doesn't realize that there are many many

competitors do there's really america right now and then what do the broader the world has changed that if we don't bring the world's best and brightest here they'll go elsewhere and they'll do much better they don't seem to realize that and look at what the president is doing that burdens one big in both of these things because he wants to look after the the the unskilled the illegals is holding the. load of these skilled. in the same putting them in the same bag or it's all or nothing which is the wrong policy would be to solve whatever problems we can while we can well you definitely are not the only one making the argument that they're both important issues but i haven't heard a lot that putting them together and i don't mean to you why damage here thank you so much for joining us tonight thank you. now like we just mentioned president obama took his mission of fixing america's broken immigration system to el paso texas today the president has already failed to pass immigration legislation with large majorities in both the house and the senate and with a newly minted conservative house it looks as if there's

a very very small chance that a new immigration bill could pass congress this here so is there any help for obama to get on the good side of the hispanic population artie's among the window has more. play comes to let you know issues when it comes to issues of education and health care and immigration reform particularly in the state of california where for permission to senator barack obama is polling candidate more than two years ago california latino leaders praise candidate obama as a person who would make immigration reform a reality today for millions of immigrants trying to build a life here the president's lack of progress on the issue has turned their american dream into an american pipe dream but i think things are going to get worse but true but this is an immigrant from what their mother despite being a legal resident he still feels the sting of discrimination and doesn't feel part of america he is competing for work alongside undocumented immigrants like santos

who is still waiting for his shot at legalisation. i won't give up i'll fight for my family i'll fight for my papers to get it. it's not just the risk of deportation that weighs on those since the recession has seen his pay as a daily drop from six hundred to two hundred dollars a week making it difficult to support his two children. it's like many american families millions of immigrants are finding it difficult to put food on the table but despite these economic hardships in america many of the immigrants we talk to bow never to return to their home country including those who are here illegally despite campaigning on promises to provide a pathway to citizenship for immigrants many of whom have lived here since childhood your bomb administration has instead had to pressure from the right by ramping up immigration enforcement in the two years that he's been president. he

has actually three times three hundred percent another. person whose entire term of office the higher rate of deportations is leaving men. in the latino community to view the president's renewed calls for reform as more empty promises to sway the increasingly important latino vote as two thousand and twelve approaches nor legally so soon or legalization no reelection so that's a message to the democratic party and obama promises were made in a bid to show he is serious about immigration reform the president recently invited a group of latino celebrities to what was called a brainstorming session those who do not support comprehensive immigration reform will hopefully pay for it and those elections eva longoria in the white house hope the republican party's opposition to immigration reform will tip the balance of power in congress but while the rosy rhetoric of hollywood celebrities and washington elites continues to flow poor workers like those have little faith in

any real chance and continue to rely only on themselves this year this is certainly they can try to get us out but they won't kick us out in los angeles come on girl you know archie. when president obama gave a speech in el paso today about immigration reform he made it very clear that he was the one to blame for the lack of any option on a bill in her first two years in office we have gone above and beyond what was requested by the very republicans who said they supported broader reform as long as we got serious about of course all the stuff they asked for we've done you know they said we needed to triple the border patrol we're now going to say we need to quadruple the border patrol or they'll want to hire. maybe they'll be a vote. for the only gives in the vote. and while some of the finger

pointing at republicans is there and the president really blame it all on them and is that strategy going to be enough to win the latino vote in two thousand and twelve you and me to discuss this is attorney angel reyes author of hispanic care see what is the impact of america's a largest population of immigrants angel thank you so much for joining us tonight for starters i want to get your thoughts on this speech today from the president i mean it was a lot of grandstanding a lot of promises again but is it just looks like he's back in campaign mode to you i mean we know the republicans are going to go for any type of comprehensive immigration reform so is he just having fun pointing fingers and trying to make himself look like the good guy without actually having anything to back that up well today you know really get absolutely at least likely the republicans who are here with a crash landing at the evergreen or so the political season is stuff that we have

all of us here for as a. full measure of a person but do you think that he really put in a good effort during these first two years of course the dream act is something that he tried to get past he invited eva longoria to the white house they increased border security but was that enough. yeah it wasn't enough and many many many people in this matter community are very disappointed because the president campaigned and specifically he was reaching out to hispanic voters like a pride promising that he was going to have they were grecian reform during his first year obviously we're now at the third year that it happened so there's a lot of people with a lot of this or that out there and the president is going to have to reengage that he doesn't want to lose that vote and there's probable action so and today was a bit of a political day that was a highly partisan speech the president well you know one thing of the president said today is that one of the main problems why comprehensive immigration reform

can't be passed is because everyone's always thinking about the next election never owns everyone is always pushing this issue to the next election but if you look at you know the population in america the states you look at the reasons census results the hispanic population is the largest growing minority populations and how much longer if politicians afford to just keep pushing it on well they push it out for twenty five years so far but at this point i think that the problem is so wide so well known there are so many people talking about it both republicans and democrats that at some point with the pride partisan approach we might actually get some immigration or because the alternative is we're going to have a lead of twelve million people living in a permanent second class this year or another class where i don't think it's very it's really that happening. well one thing that another thing of the president said today when he was laying out his platform for how he could see it done is that if comprehensive immigration reform does come those who are here illegally have to

admit that they broke their law they have to pay their taxes they have to pay a fine and they have to learn english do you think that all of those are are fair requests or fair i guess mandates you could say i think they are i think really what you what you have there is a pretty sensible approach of the people that are really really hardcore the law and order can convert to and then of course you know for the folks that are undocumented course they're going to they're going to want to buy into if they want to stay in this country what a path to citizenship they're going to probably have to do things that really aren't necessarily tasteful are going to be required that's going to be taxes and if i call if i call it a process called which is going to be across the aisle and the people that are asking for this we're going to have to subsidize our all of our part of that cost so i think those are pretty sensible ideas presidents floating this is the first time that those ideas. talked about but i do think they're pretty sensible of a good for the republicans can't get past the election concerns and fears they have

with respect to like the tea party activists and what we might actually be able to have seen and report here in the next couple of years i don't think it'll work. now lastly i just wonder do you think that the drug war going on in mexico right across the border plays a large role in this i mean violence has been spiking recently right forty thousand people have been killed and i guess you could say that and that's a big reason by people choose to come across the border but is there a sense amongst a lot of hispanic voters that the u.s. isn't doing enough or that the u.s. is to blame for some of those economic policies or how about even u.s. drug consumption. well obviously what's happening in mexico is it's a pleasure actually i don't think that many people with hispanic community in this country think that we ought to be doing or in fact it may be arguable that people think we ought to be doing a little less with respect to a therapist throw consumption well you know that is what it is and so that's that's

for debate mexico a fairly stable labor i think for the foreseeable future because it's got it's going to get a mexican solution it's not it's not to be americans. there are and i want to thank you very much for joining us tonight and i'm sure that we'll be hearing a lot more of this immigration reform rhetoric as all the campaigning has heat up thanks thanks for having me. now to come tonight a member of obama's cabinet is tonight's truth time where proclaiming of the president's plan for clothes and get enough that's coming up here moments and then a huge lawsuit is filed over illegal downloading of a deal with movie sets and i want to ask if this lawsuit is an attempt to combat piracy or perhaps just a money making scam i put that into something. that's not good and we are not easy right.