throw money at a problem keep printing up money it's the same economic paradigm in adolph hitler and it's outrageous that didn't work with hitler actually whereas the one germans hitler actually reversed the republican policy which is one of the reasons he was popular he did away with the influence but it was just and they'll have and had to punch up the infrastructure of the the autobahn was beautiful of course they were just pretty heavy handed alert as it were but it's germany's economy by building the autobahn the same way that dwight eisenhower after world war two you know after world war two we were at one hundred twenty eight percent of g.d.p. in terms of debt our worst debt that we have right now and dwight eisenhower's spent us out of bad debt by putting people to work building roads and bridges all across america why don't we do the same you know i don't want to say do the same thing is they all fit or god forbid but why don't we do the same things right at eisenhower did and you know according to moody's every dollar spent on infrastructure generates a dollar fifty nine in economic activity those workers spend that money when it's

in their pockets however every dollar spent on bush tax cuts only creates thirty one cents worth of economic activity because a lot of people say that and it is a down debt or put it in the bank so isn't infrastructure spending the best stimulus. let's spend on the infrastructure with the tax dollars that we're already paying over let's not drive us deeper into debt and of pass this predicate the finished product will not be particularly good and i would remind your viewing audience that the previous stimulus package included infrastructure repair what was actually repaired where's the accountability a lot of this is going on right now today that as we said it would be you know there are projects all over the country that are going on and there's a long list of photographs of republican members of congress standing you know would be groundbreaking ceremonies for stuff from the last infers that it's it's as karen. marie pointed out you know there's still about three million. working right

now as a result of western us that money hasn't as i was listening to her and i have to tell you i disagree with almost everything she said the figures that she had bandied about seem to be grossly manipulated and again those are things like the movies in the us that you know the cvo and and the new york times financial time is. yeah i don't believe the stimulus spending was the unbridled success she believes it to be is a matter of fact i think it was an abject failure and i think our economy's tragedy in until harry of that on to say planning caved in and ever since the spending kick in the economy has been has been you know a slow but steady are you saying the economy is good we need it all adds not good he has sworn a certain continuous months of private sector job creation aft and when the shuttle that is yours if you are going to have as many of whom are out of work and i say that is where it should silly i say absolutely not so they had be right but david

we have all of your advice if you know where or herbert hoover's advice and doing nothing we would be in a i mean we were losing eight hundred thousand jobs a month. and you want to continue that not saying we should do nothing i'm not saying we should do nothing dumb i'm saying we need some financial accountability and some good common sense not just spend money will e-mail you with a hope and a prayer and if we're going to drive taxpayer dollars into these various programs then let's do a little collective belt tightening on some of these other failed programs why not just go back r. and spend and how about some good old fashioned tax raising why not go back to the clinton lot of that as a whole that produced a balanced budget over i don't know. what we need to do was lower taxes but spend those tax dollars more wisely it would take out the reagan lowering tax rates our debt exploded bush lowered taxes our debt exploded clinton raised taxes our debt

went to zero or our our year to year our deficit went to zero what what or what am i seeing here that you're not or vice a versa. ok again at the risk of being redundant what we need to do is make sure our tax dollars are spent wisely additionally a lot of our debt goes to really poor spending you look at the cost of these various wars where and barking and it is just in really pushing. i'm trying to sir you're saying what are you missing i'm saying you know i think every time the republicans cut taxes we end up with more debt and deficit and when democrats raise taxes i mean you know from from you know harry truman and f.d.r. back in the thirty's raising to the top to actually up to ninety one percent we end up with a balanced budget. yeah i'm not sure that is correct i think was your idea is that if we raise everybody's taxes will perhaps taxes on another everybody

just billionaires and rich everybody else will sort of get a free ride corporations are already overtaxed i'll say how about how about instead of investments that show is lowered just in our bridges and our roads we were to invest as every other developed country in the world does in our intellectual infrastructure right if we just started giving every anybody who wanted it a free college education you know most of the countries in europe well you mean everybody meaning american citizens guess who are you mean anybody who happens to hop the border and come in and break our bank let's just start with american citizens ok no i don't think we should just hand it away i think there should be some sacrifice so that people who receive the education perceive the value not that it is an entitlement some people don't think that things are a vet have value and there is always people always doctors and dentists and and physicists who are graduating and in europe don't actually value their profession

or their ph d. because they didn't suffer for it. i think. people must have some skin in the game ok otherwise what you have is individuals who stay in school careers students and they're just sticking it to the taxpayer it's unacceptable particularly in these troubled economic times david thank you very much for being with us this. hey thank you tom it was a real pleasure our crumbling infrastructure is yet another consequence of thirty years as star of the beast economics brought to us courtesy of ronald reagan started forget about reagan pick up some shovels and star rebuilding this country. time for a daily call your chance to tell us what you think here is that is question after ten years we did bush's nine eleven roadmap of stupid wars and begin

a genuine recovery your choices are yes we'll spent more than three trillion in total we should ascents we should have sent sixty three million people to college for free for ten years which we could have done with that money so the war or no the united states will stay on the road to ruin which is exactly what bin laden hoped for log on to thom hartmann dot com and let us know what you think the poll be open until tomorrow morning. crazy alert stoner stays here driving no one particular stretch of road in ben in g. minnesota it's a good chance you might not know exactly what street your own that's because most of the street signs have been stolen such as the problem with stoner avenue a road named after markers stoner been in g.'s first city engineer who lived in the late one thousand nine hundred and rode the signage has a big appeal to people who like having ironic street signs and from the walls are

signs that reflect their own personal lifestyle over the last decade the city has spent two hundred thousand dollars for a place in sloane street signs along stoner avenue and just recently held like city council meeting to discuss the possibility of changing the streets name however about forty property owners along stormer avenue protested the name the name change arguing that it would be a huge hassle on them to have to update their driver's licenses and other important documents with an address change so for now stoner avenue states city officials apparently hoping that those who wish to steal street signs in the future will just . get stoned for yet or get such a bad bad case of the divine munchies that they'll be easily rounded up at the local dog. coming up our banking regulations anti-american i'll tell you which banks are c.e.o.'s so that and begin to why republicans are once again pushing to give wall street everything they need to crash their.

drives the world the fear mongering used by politicians who makes decisions to break through people have made who can you trust no one who is in view with a global mission would see where we had a state controlled capitalism is called satchels when nobody dares to ask we do our tea question more.

welcome back to the big picture on thom hartmann coming up in this half hour republican war on wall street regulation continues and now one prominent banker is hiding behind the american flag to avoid new regulations so is the middle class being set up for another big wall street heist and while the nation grieves yesterday today is a time to begin asking the tough questions about how this country has responded to the eleven over the last decade but i still. take until you have clues from all around the world point to a troubling conclusion as the door shuts on ten years of war and hate america.

watching republicans debate you probably noticed a lot of talk about repealing new government regulations in particular regulations passed last year as part of a dodd frank wall street reform bill you know those regulations that aim to prevent something like the bush era market meltdown from happening again at least there's consistency on the right as republicans in congress have also launched an all out assault on new banking regulations at the behest of their wall street campaign donors like j.p. morgan chase c.e.o. jamie dimon which turned some heads over the weekend in an interview with the financial times when he called new banking regulations anti american so why does it seem like republicans want to repeat of the two thousand and eight financial crisis and how is keeping banks from gambling with our money anti american hero offer his take on this is michael hudson staff writer on business and financial investigations of the center for public integrity and author of the book the

monster a gang of predatory lenders wall street bankers fleeced america and spawned a global crisis michael welcome. thanks for having me tom. michael what exactly are these regulations that diamond is calling anti-american. well these are international regulations that have been agreed to by the united states and many other. large countries it's called hazel it's basically a compact and a treaty that. developed nations have come together and these are basically global rules on banking safety the idea is essentially i'm simplifying it a little bit too much of a central you need to have a little bit more money in the vault that in order to protect against a bank around the bank and the larger the institution the higher capital cushion the higher capital requirements that they need to add and that has got

jamie diamond upset and that's why he's he's sort of you know you can tell. this this means a lot to him because he is using this kind of wrap wrap himself in the american flag kind of rhetoric that this is anti-american and might i recall bill seen who recently passed away he was the guy who started the resolution trust corporation under under reagan to fix the you know when the s n l's crashed he took them into gold. and he was talking about how one of the things that led to this contemporary crash the bush crash the two thousand a crash was that banks originally had reserve requirements of was eight or nine to one in that they wanted to go like fifteen or twenty or thirty to one i mean if it is that you could hire reserve requirements have prevented the bush two thousand a credit. i don't know if they can prevent it they certainly could have softened the crash but who knows they might have prevented it but definitely it would have

provided more of a cushion and the crash would have been much less the beer line it's bring back the glass steagall. i'm sorry say that again tom why not just bring black back glass steagall separate the gambling banks the investment banks from the commercial banks the place where you keep your checking account savings account as was the case up until from one hundred thirty five until two thousand and eight. were you know what's interesting about that tom is is over in the united kingdom in the u.k. . where they're putting in new you know rules for british banks that essentially will do that will sort of fence off parts of the banks so so that so that you don't have this sort of sort of mixture conglomerate nature of banking and what's interesting is at the same time that jamie diamond is being quoted in the financial times of british paper about how american banks are being put in a global disadvantage the british banks are complaining that the regulations on

them are putting them at a global disadvantage no word yet though on whether the whether the banks are saying this is an anti queen anti country they'll go there right they'd have to live with their. other countries in europe are there you know my my recollection is there was an article the financial times last week about how greece was the only country when the crash it was actually running a budget deficit and you know this is really a banking crisis as you know not so much in tax crisis or what you know stuff that's happening in europe right now and as well here in the united states. is it first of all is that true and secondly to what extent you know how how do we fix that. bet bet that's a big question. and it's clear that the financial crisis the financial crash has put us where we are today there may have been some budget problems in many countries even in the u.s.

even without a financial crash but but as deep a hole as we're in it certainly. was fueled by cause by our our global financial system really kind of grinding to our financial ization this new industry our monetary base this was. believe it was in the financial times today or are a similar part of cations so that our monetary base in the united states has increase of eight hundred seventy one billion to two point zero to four billion two thousand to two trillion two point zero two four trillion in just two years in large part to re monetize the banks is this inflation time bomb just waiting to explode. that's a good question folks are are worried about inflation manno but but given the you know they'll be. lack of

energy in the economy right now i don't know if inflation is going to be something we're going to see is as is a huge problem down the road i mean there are actually some people have raised fears about the fallacious because because the economy has been in the doldrums for so on. that certainly seems to be the big question is could could deflation come back your book the monster again a predatory lenders and wall street bankers fleeced american stronger global crisis in the minute we have left and how did the how did they do it. you know they did it with old fashion they'd switch salesmanship on a massive scale on a nation wide scale so those loans packaged in the end and pools of loans and then sold them around the globe sell them to california teachers retirement fund so into. these investments to villages in australia to

pension rises in europe greece all over so basically we took. a lot of on the ground fraudulent kind of activity go to good old fashion american base which salesmanship and we were globalized it and we spread the pain all around the the world absolutely amazing mike thanks so much for being with us and. thanks to over the years we've added more and more pieces of our economy to the banks there's on wall street look where it's gotten us and the rest of the world enough is enough and that with some common sense regulations to make sure that they stop gambling with our money better yet let's really lock him up for fraud or the fraud in the middle class out of trillions of dollars and they might actually learn a lesson. it's

the good the bad and the very very in bend asli ugly the good senator john kerry as a member of the gang of twelve super committee in charge of finding over one point five trillion in budget cuts by thanksgiving senator kerry knows he's going to be hounded by a lot of lobbyists looking to cut big checks in return for senator protecting their pet projects in fact is the sunlight foundation pointed out gang of twelve members already have fourteen fundraisers scheduled through the end of november but senator kerry has now promised not to hold any rather than parlaying his seat on the super committee for some big campaign contributions john kerry wants the people to know that he's working for them and not the lobbyists and he's canceled his fundraisers and he's not meeting with any lobbyists as kerry told the boston globe i'm not

meeting with a lot of lobbyists i meet with people i choose to meet with who can inform me assist me in the process of crunching numbers and dealing with consequences and so forth i will not fundraise i'm not raising any money while the committee is working . let's hope the rest of the gang of twelve get the message to the bad frank luntz republican pollster who was brought to his poll tested terms like a government option to describe the public option job creators to describe billionaires is now trying to rewrite history on nine eleven but yes it allows us to look back and say we haven't been hit yes allows us to appreciate george bush and to cheney for keeping us safe but in the end it reminds us that we are vulnerable and that hurts our confidence. was once realise that bush and cheney didn't keep us safe but they dropped the ball and as a result nearly three thousand americans were killed i could most of his poll tested lies once knows that all yes he did enough times and sure enough some people

will come to believe it and the very very ugly bob term all the west rest of us were remembering the victims of nine eleven yesterday bob turner the republican running to fill congressman anthony weiner's vacant congressional seat new york city was exploiting nine eleven for political purposes his campaign sent out flyers to voters last week featuring his democratic opponent david ruffin alongside president obama back drop by a smoldering ground zero at a box the flyer reads weapon stands with obama and they stand together in support of the mosque at ground zero i guess he left out the word victory mosque as i suppose right wingers like to describe still exploiting nine eleven to spread islamophobia and win a congressional seat that's very clear. coming up one decade after the nine eleven attacks america continues to engage in endless wars

a compromise in more and more of our founding ideals here at all but we be that we've become the america those are some of the modern hoped for answer next tonight's daily. what drives the world the fear mongering used by politicians who makes decisions to break through it through to be made who can you trust no one who is in view who would have noble mission or would see where we had a state controlled capitalism is called sasha's when nobody dares to ask we do our tea question more.

your take my take this is the segment of the show where you have the opportunity to make yourself heard here on the big picture yesterday our nation marks the tenth anniversary of the nine eleven terrorist attacks and ceremonies large and small all across the country and even in countries abroad people gathered to remember the lives that were lost on that tragic day that forever altered our reality as a nation many things have changed in our daily lives since nine eleven but as the president pointed out last night at the concert for hope here in washington d.c. nine eleven may have changed the united states forever but we cannot allow it to define us as

a people. we could never get but the lives that were lost on that day or the americans who made the ultimate sacrifice in the wars that follow and yet. today it is worth remembering what has not changed our character as a nation has not changed our faith in god and in each other that is not change for belief in america or born of a time outside feel that men and women should govern themselves but all people are created equal and deserve the same freedom to the term of their own destiny that belief tests and trials there's only been strength these past ten years of shown that america does not give in to fear many of you

contacted us over the past few days to share your thoughts and feelings in the legacy of nine eleven as the country paused to mark this milestone anniversary tom tweeted ten years pass and we reflect left with one thing and then a flew the planes were taught to hate were better than that no more hate and joe also took to twitter to say bush was told to his face as was cheney if bin laden was a huge threat you know it's true joe sandy berger told me personally that he knew that clinton gore had gone out of their ways to personally warn bush and cheney about bin laden as he did with his replacement connelly's or rice cheney and bush apparently didn't take any of it seriously until the g eight meeting in genoa italy in the summer of two thousand and three four months before nine eleven when bush had to actually sleep on an aircraft carrier because he and connally's

a rise were warned that al qaeda planned to hijack a plane and fly it into the hotel where the world leaders were staying. and nine eleven was also on the minds of many of our viewers opposed to the tom hartman facebook page nicholas wrote september eleventh was a supreme tragedy we're in this learn from it as a people is not to fear instead we must learn that fear is never to be a reason to surrender our rights and liberties to the heart to tell it to totalitarian fear mongers who wouldn't chain us we must have a new birth of freedom in the united states and nathan also opposed to muslim extremists fundamentalists first attacked our freedoms because they hated our freedoms then christian nationalist fundamentalist extremists and the other coffin shut after the initial attack and jimmy water this to me to remember one of the few concrete outcomes of america's ten year war on terror he wrote on this tenth anniversary of nine eleven i'd like to thank president obama for once again making

the capture or killing of president of osama bin laden a priority this time one can safely say mission accomplished. our final comment tonight came from a young man who watched the twin towers crumble on television from an air base in saudi arabia as he packed his bags to return home from his first deployment by the end of that day he knew that his mission as an american soldier had changed forever songs about poise posted as a veteran of both operation enduring and iraqi freedom i support bringing the overwhelming majority of our troops so we won in afghanistan dismantled al qaeda osama bin laden and over seventy percent of al qaeda will never get any more profit pleasure from watching what we do to commemorate this day we also have won in iraq to the point where it is all up to the iraqis if they succeed or fail we fought long in this part of the struggle now we need to focus on how to deal with the war against this radical ideology for the long run we can play monday morning quarterback for the last ten years or we can move on i say would we move on and we

used today to remember how united our country was that we need that now as much as we need it down you know that could not be any more true if our elected leaders are any example we as a country have forgotten what it means to be united as a people and put the nation's best interests first the loss of that national unity we should vanished after george bush turned nine eleven into an excuse for horror and war and violence maybe the greatest tragedy of nine eleven of our that's it for my take your take tonight would like your comments and questions for it on the side of the big picture listen up. we want to know your chicks send us your comments by visiting the martin facebook page by a twitter at tom underscore when you're in the champ room on the message boards or the blog at tom hartman dot com you can also leave a message on the rant line at two two five three six fifty three zero six agree

disagree sound off it's all welcome to remember that your comments may be used on the air. there was a common scene all around the world in the days after nine eleven ten years ago an outpouring of support for the grieving american people this for example was the scene in palestine. we are here to. some read some of the words. i'm told for sure all of the sympathy action for the american people and sound the policies of not that i did and there were similar scenes in enron but a candlelight vigil on the streets of tehran in jordan where mothers wrote their condolences to families in new york who lost loved ones and in pakistan a massive crowd stood in solidarity with the united states.