well i tell our go to washington d.c. and here's what's coming up tonight on the big picture the u.s. is rapidly dropping further and further down on the economic totem pole so when america is no longer the top autonomy in the world or even in the top three then what we consider changing our tax cuts and free trade economic policies and the state of georgia and those that more help in their fight against illegal immigrants actually cab drivers i'll tell you how the peach state lost in terms of drivers and immigration agents and why cab drivers don't like the idea one bit. bad news for the economy but reserve chairman ben bernanke he gave a sobering description of the u.s. economy yesterday saying the growth is slower than expected inflation higher than

expected and that's why the fed is lowering economic growth expectations bernanke gave this troubling response. we do believe that growth is going to pick up going into the twenty twelve but at a somewhat slower pace from than we had anticipated in april. we don't have a precise read on why the. slower pace of growth is is persisting that's right the chairman of the federal reserve just admitted that he doesn't know why the slow growth is persistent bret bernanke he did point out factors that can further weaken the economy like a financial crisis in europe as greece recent moves closer and closer to the edge of default and printing he noted that the deep spending cuts republicans in congress are pushing for would be negative for job creation that echoes what the congressional budget office said yesterday about the republican spending cuts that will slow the economic recovery. speaking of those spending cuts budget

negotiations to prevent our nation from defaulting on its debts fell through today as republican house majority leader eric cantor walked away from the negotiating table and this breakdown in budget talks comes less than two weeks away from president obama's july fourth deadline for having a deal in place to raise the debt ceiling and amid warnings from various credit rating agencies that our debt will be downgraded if a deal does not reach soon in other words we are nearing a tipping point in congress doesn't seem to have an answer but while our nation is looking for a way out of economic catastrophe other nations are booming the report released today by citi corp predicts that india will surpass us as these second largest trading economy in the world by two thousand and fifty china's expected passes in just a few years so when the u.s. drops to third in world economies then you can we finally admit that three decades of reagan tax cuts have exploded our debt at three decades of free trade policies have killed our manufacturing base and the three decades of shredding our social

safety net have decimated the middle class parents talk more about these issues our democratic strategist erick nudie and george jr casey chairman of the national eagles and angels association erica george welcome. thanks for having me. jarkesy right i mispronounced your name george you're sure oh george is a great thank you yeah the talks are breaking down there's fear about race is this is this about george first to you eric cantor walking away is this because he thinks that there might be a possibility that they're going to have to raise taxes and doesn't want to be the guy who has to deliver the news or is it because the tea party caucus in the house and cantor really are going to hold the line and they're willing to blow up the u.s. economy in order to be ideologically pure. but i don't know anybody that likes to deliver bad news. so you think that's just the bottom line eric cantor

doesn't it that the republicans are going to go along with raising taxes is part of this deal and that's why he and john are backing out of this. oh no look i look i don't think i think from the republican side of things you look at what's going on from an economic standpoint and you. look republican democrat nobody likes to deliver. a line different than where you've been but when you when you look at where we're at. and you look at. this situation you. have a crisis you have a crisis and from a debt standpoint you know the debt is what everybody is focusing on the debt and the economy and jobs and should the government create jobs but the job of government doesn't create jobs they set the table and so what what you have to what i really think the people at the focus on is the debt is

a is an issue but the bigger issue is the condom is not growing. the bigger issue is that we have seven point seven trillion dollars of regulation on a fourteen trillion dollar economy we have other issues and the debt. because of america say that the debt ceiling is the issue here that we you know if you think that the economy is the issue then wait until we don't raise that that ceiling and suddenly our economy collapses as we know i mean the fundamental principle in which our economy is founded on and based on is that america never defaults on its debt case counted stat so we're going to raise this in kind of roll this back i mean we're going to see the reverberations throughout the world economy and i think there's two there's two ways of looking at it either one eric cantor really did throw a fit and walk out because he didn't want to talk about taxes in which case and what he saw was a massive lapse in leadership he is the majority leader and leadership sometimes means sitting down at the table and not just jumping off like a child and there's

a burden to leadership and the reason why people elect representatives to go to congress is because we expect people to go in there and work it out not walking. so if that's one thing then that's a huge lapse in leadership when eric cantor you know part of the second thing is true that you know he just knew that tax cuts were going to come down and he didn't want to be the guy who had his fingerprints on it and that's also a giant lapse in leadership if you ask me i mean if you're not willing to do the right thing or do the thing that you need to do that you're going to pass the buck on to it is somebody else and their leadership party or you're going to kind of sand away stand down from it i mean you should not painted yourself into a corner over tax cuts ronald reagan raised taxes eleven times and it's eight years in office working class people want to cut taxes three times are very very rich it's very true but the point is that it's not as if this isn't become this has become now this big hole the grail the untouchable and it didn't used to be that way absolutely and george i you know i don't get this you say that the government

doesn't create jobs and yet during the great depression the government i mean we build dams and roads and bridges and and built the infrastructure of bed allowed the economy to recover but you know i don't understand why republicans don't want to do what dwight eisenhower did in the one nine hundred fifty s. and use government money between the g.i. bill and the highway program he set the table for three decades of economic growth while why are republicans unwilling to do what republicans traditionally do. and it's hard to explain why that is that's why i was ninety one percent. and i don't know how much percentage of the you know what you've got to look at is you've got issues where you've got over a glacier in burdening the country you've got issues where we are who we are it is the banks are left less well regulated now than they were during the eisenhower administration i'm glad the problem during the eisenhower administration you don't have that now we have we have removed regulations that were in place during the

years and capitalism was never meant to be completely without regulation adam smith talked about the invisible hand this idea that this is you know suddenly this free open market will really because there's giant monopolies and there's you know there's interest that completely hold on to markets and then there's been a narrowing out of of allowing small businesses to thrive in that there's been a disproportionate amount of support to large corporations as opposed to you know the middle class and i think that this isn't exactly the capitalism that you know that we've had signed up for as a country you know i hear i hear george's positions and points and yours are and it almost seems like the left and right in america are talking past each other and and like you know we've we've got our own you know there's fox news on the right and some b. c. and some others are occurring on the left and different websites and so are we are we like on the verge of not a shooting war but a civil war of some kind it's this is it seems almost like our country is being

called to say we're on george i'll tell you what we have we have a lack of leadership on both sides that our country we've got serious problems and this country needs to unite and fix these problems in the problem is not just a budget issue i mean if you go two years without a budget you've got deficits you've got small business can't get loans you've got small business can't can't expand you've got small business which employs the majority of people in this country and they can't build they're in a holding pattern why are they in the hole pattern because they have no decisions on taxes oh so they're only better if they don't have customers older so you're in a holding pattern because you want to join have monopolies even though. i will agree that there is going to holding pattern in congress but i think it's been a digging in of their heels i mean the fact that the ryan budget that was passed in the house had absolutely normally when you do a budget you kind of you put some stuff in that you know the other side would want mean this was made as a partisan kind of platform it was not meant to ever pass the senate there was this knowing that it couldn't pass it was i mean it was

a posturing it wasn't taking it seriously and this came going back to the debt ceiling the fact it was even a conversation at all is entirely posturing and i would say akins a kind of you know i mean it's a bunch of people who are running up against the cliff and staring over the edge and saying you know not me and going to go around their fingers i mean it's literally what it was originally you are not the worst kind. but i got to tell you i've been on businesses from small restaurants to manufacturing to churches non-profits and we have never operated more than one without a budget in our country has gone two years without a budget and that i'm not talking about congress leadership i'm not i'm so the just their entire government leadership is broken our entire government leadership is broken because you know andras well and this is you know mitch mcconnell said his job his number one job as leader of the senate is to make sure that you're the president obama is a one term president and here i am not his job was to represent if you can't that

came here there you go his job is to quit being a poll please or their job is to quit being a poll pleaser to stand bold and to do what's right for the american people of the what's right for their can people is are not things where government programs government employees are making fifty percent more than the same employee in the private sector is it's not a good place to be now deploying ga ga if you're if your whole argument is that everybody should fall to the lowest common denominator the big corporations are driving you know i know that when awful radamisto my people are living down all the time why don't you lean back i want to millionaires who haven't who are paying an unfair you know part of their usual our taxes and since age twenty i don't know what we are we are out of town and we're out of time high so are we just had a rabbit out ok erica george i really appreciate blanket being with us. thank you for having. it's time for a daily poll your chance to tell us what you think here is that is

a question the republicans are driven by putting one man out of work president obama your choices are yes they want to crash the economy so president obama loses in two thousand and twelve or no this is just standard operating procedure for the g.o.p. going to town are going to let us know what you think the poll be open till tomorrow . crazy alert meet the friendly frack a soros talisman energy company that specializes in fracking blowing toxic chemicals underground to extract natural gas the new campaign to make what they do more appealing to children it's a coloring book for kids starring tells one to bury a friendly from a source and his adventures around a pristine environment with a smile and sun and appy animals and trees that the pictures depict but the only different thing between that fracking does the environment is produce a vibrant rainbow yes fracking causes rainbows according to al has been energy he

didn't know that overall i guess the friendly for a source is a better p.r. strategy than saudi are your company could tammany its water supplies all over the country it's unclear if other industries plan to jump on board with similar campaigns i could see the nuclear industry's radioactive racoon being a big hit or b.p.'s oily otter. if you think republicans and democrats rule congress in the white house think again played by the real party. for they can't fight your for membership is lots and lots of. let's not forget that we had an apartheid regime right here and.

i think. even one well. whatever government says they're confused safe get ready because their freedom. you know sometimes you see a story and it seems so sleep you think you understand it and then you glimpse something else and she hears sees some other part of it and realized everything you thought you knew you don't i'm sorry welcome to the big picture.

criminal corporations are fighting over forty billion dollars b.p. file a forty billion dollar lawsuit against trans ocean the owner operator of the oil rig that exploded in the gulf of mexico last year killing eleven men and spewing millions of barrels of oil. maybe even billions into the gulf in response to the

lawsuit trans ocean released an internal report ending all the blame for the accident back on b.p. transocean claims b.p. made a series of bad decisions on oil well designs and construction that increase the likelihood of an incident according to trans ocean report b.p.'s bad decisions were motivated by b.p.'s knowledge that the geological window for safe drilling was becoming increasingly narrow so while these corporations fight over who's shareholders will reap the benefits or pay the cost of a forty billion dollars claim there are still eleven men dead because of negligence on that oil rig and there's not one person who's in danger of going to jail what's going on here. well this really when you think about it the whole the whole situation between strands ocean and b.p. is a symptom of a much larger problem that this is you have to ask yourself the question why why are corporate c.e.o.'s in jail for example you know more than

a majority of americans would like corporate c.e.o.'s and committed crimes to go to get nailed why are why one americans opposed tarp tarp passed the majority of americans are not in favor bailing out the banks there's a lot of one failed break come up and it's what reagan did with vs doesn't lead to the majority of americans were opposed to extending the bush tax cuts for millionaires and billionaires and yet the extensions passed a majority of americans opposed the foreign wars you know we're now well over sixty percent of americans want us out of iraq and afghanistan and yet we just heard oh it's true it's going to be a couple more years maybe even longer as americans oppose subsidies the oil companies and yet we're still giving them three billion dollars a year which is given to the american support making corporations pay their fair share like as in taxes during the eisenhower administration corporations paid about thirty percent of the cost of running government today at six percent. why is this

if americans like it and we're not it american support unemployment insurance and food assistance and yet what's happening congress right now i mean they're negotiating doing away with these things republicans have put proposed legislation cutting these programs americans oppose cuts to social security and medicare and guess what's on the table right now in this whole budget mess that started out with with the whole reagan idea of let's let's bankrupt the governments of the democrats can't play santa clause you know it's frankly not the republicans and it's not the democrats michael collins as a great blog it's called the money party dot org and he calls it that he says it's the money party and i think he's he's spot on i think he's nailed it they have one mission to make more money at all costs period now historically we have had if we look at presidents through the course of american history we've had a couple of presidents who've been willing to take on great well what michael

collins calls the money which is been around for basically forever i mean really with the rise of the railroad barons and the way to hundreds was when it really got big really started and the last to do that was have are he talks about taking on a dictatorship he said americans should. mob rule or the overprivileged alike here it is. the. economically. plain. wrong so. america what they really claim. is that we will take away. oh really. so our allegiance to american institutions. they overthrow all of this coming up.

in famous they seek to hide behind the play and the constitution in their blindness they book. what's going to constitute some spam falls. after i forgot thank. you. so as always or over us a century and a half the flag constitution. eva. and be all about privilege but i. and the overprivileged alike the last president to seriously take on the michael collins refers to as the money part any did f.d.r. put them in a box he passed laws like the glass steagall for example in one nine hundred thirty

five that put the banks in a box and behave like banks and can't be able to see it was any more we got blown up in one thousand nine hundred nine two thousand and what we've seen now is that starting with the reagan presidency when reagan stopped in force in the sherman antitrust act jimmy carter was the last president to really do that breaking up the t.n.c. when he stopped enforcing the sherman antitrust act we had this mergers and acquisition frenzy they refer to it as the emanate mania or generic resistance michael milken and all these guys and the result of that is that we have these basically oligarchy we have these giant corporations that are keeping out small businesses that are preventing entrepreneurs and starting up that are stifling innovation in america and that have bought and they're buying our politicians and with the complicity of the supreme court we need a president mr obama to stand up and say no to the money party and when they when if you do or if any politician to us frankly the american people are going to

be with you because the american people get it that corrupting the the corrupting influence of money in our government is is a horrible thing and it's time for it. just . for the good the bad of the very good tast equally ugly they're good at a credit representative carolyn maloney and senator bob menendez it is after the supreme court like corporate giant wal-mart get off scot free with discriminating against going to half million female workers these two lawmakers reintroduce the equal rights amendment which simply states equality of rights under the law shall not be denied or abridged by the united states or by any state on account of sex congresswoman maloney defended the amendment by saying women in america will only achieve equality in the workplace if it's written into the constitution she's right

and look up one hundred years to a time to pass the equal rights of the bab herman cain the republican presidential candidate doesn't seem to be taking too well to the jokes it is expense on jon stewart's daily show cain fired back this week with this. big photo. i owe my own sorrow self. who are you to shape is. sort of welcome. because i have to be able to serve you in the words of my great for. your target on the daily show because you're black. one mr big mr cain to realize that we all see past his skin color and see the true man a man that has an irrational fear of muslims a guy who doesn't want to take the time to read legislation of more than three pages and a fellow with a really bad idea as the real reason why so many things

a hot topic on the daily show and a very very ugly fox and friends so how do the morning we know it's analyze the president's big speech last night by counting how many times he said the word i during the speech take a look. the president did not mention general david petraeus not one time during his address to the nation from the cross hall last night and yet he mentioned himself a whole bunch listen to this. by the time i took up a war in afghanistan had entered its seventh year and one of the most difficult decisions that i believe. i've heard of additional thirty thousand american troops in afghanistan. in total fox scout of that the word was used thirteen times and our nation a war for a decade trillions of dollars lost and thousands of soldiers dead even to fox news to focus on the hard hitting facts like how many times the president is a certain product and that's very clearly. coming out should our nation lead

corporations make a profit off locking people behind bars i would be the issue right up to. let's not forget that we had an apartheid regime right. i think the plumbing is feeding on the well. whenever the government says they're going to keep you safe get ready because you're going to their freedom.

you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else and you hear see some other part of it and realize that everything you saw you don't i'm sorry welcome to the big.

brother back to the big picture i'm john hartman coming up in this half hour prisons and profits now go hand in hand in america private corporations are taking over our nation's prison system so one of the consequences of the profit motive in our judicial system meanwhile the state of georgia has not been so peachy when it comes to immigration reform details of how they plan to use taxi drivers for racial profiling and his freedom of the press under attack by the white house one pulitzer prize winning journalist as. we remember one that is in the size of our prison population united states bows the

highest rate of imprisonment of any other developed nation in the world and that's not enough for some people specifically the private prison industry the justice policy institute just released a report detailing how the private prison industry. millions of dollars every year to lobby lawmakers around the country to pass tougher laws to throw more people in prison ideally private prisons and it's working in the last decade the number of people in prison increased sixteen percent but the number of people in private federal prisons increased one hundred twenty percent it means massive profits in fact the two largest private prison corporations in the country corrections corporation of america in the g.p.o. group rate did nearly three billion dollars in revenue last year so it was a problem in america the corporations have a direct interest in throwing more and more people in prison should we be working on ways to keep people out of prison here offer her take on the issue is a man to carry the girly daily caller you know welcome back right thanks for having me great to see you isn't there anything in our society that should be off limits

from from the problems more you know if there's an issue or and if there's a market for it was there clearly was then why not because the because of the comments because because it was this idea that our country was founded on that there are some things the government actually should do ok those do well you know police and guarding prisoners is something that's very secret to the government i think so yeah absolutely i think that you know police fire or school leaders so i think security military all military i would say yes we're talking housing and made some prisoners they were already in there and i think that's a completely different category one because it's guarding prisoners that have already been caught and are and this is not going to in what we put in our prison system it's our laws that have arisen difference between police officers and prison cards. so i think they're two different categories ok but but.