if you give the funds to the families that are actually suffering you see part of the settlement pretty stable go directly to the state government and it's designed to cover a whole host of costs like providing additional really to borrowers paying civil penalties and even setting up foreclosure relief programs it looks like some governors have their own plans on how to spend those dollars take wisconsin for example because their land is the recipient of one hundred forty million dollars from the settlement and thirty one million of that money will go directly to the state and we've learned that twenty five of the thirty one million dollars designed to help wisconsin's foreclosure problems are going to be shifted to help the state balance its budget that's right eighty six percent of that worship that's going to help governor scott walker be able to say that he was able to balance the budget for state a priority of this wisconsin isn't alone this tactical move the series decided to follow suit with its share of the pie kansas city star is reporting that the show me state will take a forty million dollars from the one hundred forty million dollars dollar settlement to use for funding public universities governor jay nixon took this

settlement as a way for him to get back on everyone's good side after he originally announced a twelve percent cut for public schools and make some saw the settlement as a way to fix his budget problem and conveniently analysis transfer of money last week now made is planning on following in nixon and locks are all his footsteps in the state as a whole be receiving twenty one million dollars and eight point two million will be headed to the government attorneys general william schneider has already said that five point seven of that eight million is going to go toward the general fund so we can only imagine where that money is going to end up certainly not homeowners hands those are three different examples of the same travesty states taking money and intended to help prevent future foreclosure crises that help fix the current crisis that's going on and moving that money to fix their troubled budgets that they're responsible for those obama shaking his head yes well he should be because moves like these a further prove my point from last week and this massive settlement is enough to fix our house. problem but hey as long as the state looks good and looks like

they're doing everything they can to fix their budget and who cares how that money is managed right meanwhile those that are truly suffering from robo signing from fraud those that lost their homes to the banks who received less aid were governors and states avert the money to other places made missouri and wisconsin so that's why we're giving all three of them to night school time award for taking that money instead of the help a specific group of people and using it to help their budget woes let's admit those governors may have had something to do with creating themselves. time for a happy hour and joining me tonight are two producer jenny churchill and r.c. correspondents christina. and ladies. all right so let me read you a little passage this one comes from rick santorum book and this caused a stir. he wrote the radical feminists succeeded in undermining the traditional

family and convincing women professional accomplishments are the key to happiness so a radical feminist told some women that they should get a job and that's just the worst thing on the planet to say and so then you're excited for him as he always has to do as a trade back or back excuse me backtrack and fix the statement and take a listen what is less. but i can tell you this section was written in large part in cooperation with her as a mother who was a lawyer in new york need an intensive care nurse someone with a great amount of professional experience who felt very much like society and those radical feminist that that i was referring to were not affirming her choice we're looking we're looking at that as a choice that was not in fact the right choice. or if i got back up i was like i got her that he's talking about is his wife who he claims wrote that passage even though she doesn't appear anywhere on the book out of the service she you know where in the in the fine print doesn't have her name it's because women don't

deserve acknowledgment of their thoughts or their writing that's right that's right she probably wrote the whole book but then all she had to submit to her husband or something i was going to say you know santorum said a woman more too emotional to serve in the military it's obvious that his wife got really emotional when he was writing the book and snuck in and wrote that line and he didn't know he didn't mean it you know it's absurd and i like how it's like she's the victim suddenly because i mean clearly if that was her that made this edition of the blog it seems as though it was probably her own and she and her own insecurities about leaving her job to become a parent and then he's making her the victim and radical feminists are going after her and then i had nothing to you know i like i want some proof i mean i mean come on line. david gregory on meet the press found a reason to ask the question will you have women serve on your administration because rick santorum has you on women and women's place in society is so far away from even most conservative republicans that it's really worth looking at and of

course he said yes because you're going to say no but anyway let's move on to something more fun fairy tales just the movies we all grew up with here's the classic. i'm cinderella was. finally forced to become a. cinderella. time. each june she. used. how sweet well apparently the radical feminists have a driver's license or hello to you i guess you could. sort of interpret this story research has revealed that one in five parents of actually scrapped old classics things like snow white the seven dwarves and rapunzel and little red riding-hood and cinderella for i guess we could save more modern versions so the kids are really scared after reading little red riding-hood and fifty two percent of the

parents said that cinderella didn't send a good message to their children because it portrays a young woman doing housework all day. i mean i have to say i grew up in the time of little mermaid princess jasmine from a lot and and i actually had a couple friends whose mothers wouldn't want them watch these movies because they found the characters in these does mean disney movies to be too facsimiles well i mean has made it an area where like a sluggish ones where everyone if you think about their elf if the. biggest the biggest complaint i don't doubt that those fairy tales taught girls that their value comes from the prince that they that ben finds and saves them but i think this is so pathetic like the kids were scared after hearing little red riding-hood that's the point but here in handling great guns they put the old lady in the oven and you got to you know i mean i'm not some of these stories you know creativity doesn't always come from every thing being light and fluffy this is once again it

was a cation of america and the rest of the right so if you're ok handling again over the red riding hood they're going to be a drag and i really think regarding the survey like under five years old i get it you know i although i still question parents are there all the lots promotes stealing you know i. and you know i'm just saying under five years old but some of those parents are showing their kid teletubbies which is not far scarier than a disney movie. i mean i think i mean i like your work with a vacation because it's true these are great i love getting lost in these classic movies and books growing up i mean when you're not if you're really worries don't the stories that parents are then substituting don't have the same moral values these stories teach you something you learn something from these stories and you know we all live happily ever after i'm going to say i'm telling you what i did really learn from cinderella though other than you know if you're set she persevered through very nice have to hope that her prince is going to come along and all your little animal friends are going to help you clean the house ok but i'll go to the book. i know i grew up with these movies so i love them but you

say ok let's talk about one of the most interesting things that happened this weekend which is that we lost somebody i know this. is news that has left music fans around the world shocked and heartbroken houston was found dead as you said in her beverly hills hotel room at about three forty five los angeles time this afternoon her death at such a young age of forty eight and her enormous talent suddenly silenced has left many at a loss for words. it is really sad to have a say i listen to whitney houston all the time when i was growing up a lot this weekend but if you just want any more information on how companies and why you should dislike them so many music increase the price of the whitney houston album by more than sixty percent within thirty minutes of her death and i'm crazy for not thinking this is terrible i think you don't think it's not messed up no demand one up they saw a chance to make

a profit their company thirty minute i mean their share i mean it's terrible but i don't think it's surprising it's business in america for sure but i mean i guess on one hand they were smart to react so quickly because i think that somebody was just telling me like in the top one hundred songs downloaded over the weekend fifty of them were whitney houston zones they take a business opportunity but it's so sad to think that monopolizing on somebody's death somebody who will want people have really been awful izing on whitney houston's life for years i mean they have been taking advantage of her and using them i mean i got i got about as good as we're out of time but you know isn't right all right thanks for joining us tonight you could just mean for the fans right of military fighting for their as it relates to hope thanks for today and make sure you come back tomorrow the last thing greenwald is going to be joining us in the meantime it's become a fan of the lot of show on facebook you can follow some twitter there's anything you ever miss you can always catch the dot com slash the i want to show and coming up next is the.

welcome british. market. find out what's really happening to the global economy with a much stronger no holds barred look at the global financial headlines. for. sometimes you see a story and it seems so for you think you understand it and then you glimpse something else and you hear or see some other part of it and realize that everything is off you don't i'm sorry.

on tom foreman in washington d.c. and here's what's coming up tonight on the big picture. president obama introduces his twenty thirteen budget to congress is the budget have a prayer of asking as a deal way also the mortgage settlement supposed to help those hurt most by the mortgage fiasco homeowners what are some states leaving homeowners in the dust and who is really gaining ground in the g.o.p. nomination battle rick santorum or his wealthiest backer and how are the corporate

elites with their endless funds pulling the strings in this twenty twelve election cycle. you need to know this and so it begins the battle for the future of america today president obama unveiled his vision for the united states by releasing his two thousand and thirteen budget proposal remember budgets aren't just numbers on a sheet their priorities and paths for the future they find what investments will be making as a nation moving forward and how we're going to pay for those investments here was the president today pitching his vision the budget there we're releasing today is a reflection of sheer responsibility it says that if we're serious about investing in our future and investing in community colleges and investing in. new energy technology and investing in basic research what we've got

to pay for. and that means we've got to make here is some of the details or choices that the president lays up overall spending for the twenty thirteen budget is pegged at three point eight trillion dollars that includes significant new investments in roads and infrastructure education and our manufacturing sector it also includes year long extensions of emergency unemployment benefits and payroll tax cuts for one hundred sixty million working americans then on the side of deficit reduction the president proposes reducing the deficit by four trillion dollars over the next decade he does this by forcing millionaires and billionaires to pay their fair share of taxes and he's letting the bush tax cuts expire for america's highest income earners closing the capital gains tax loophole and forcing people like mitt romney to at least pay the same tax rate as middle class americans and closing a slew of corporate tax loopholes that are mostly taken advantage of by transnational

oil corporations are also a few reforms to cut costs out of entitlement programs like medicare and medicaid and a five percent reduction in the defense department budget over ten years but the bigger picture here is that the president has laid out a vision for america that makes much needed investments to rebuild our infrastructure to educate a new generation of scientists and engineers and get america back to work building things again all of it paid for by making the super rich contribute just a little more. this is going to be the defining issue of the two thousand and twelve election and it comes down to this are we going to tax millionaires and billionaires have been paying historically low rates a little more so we can make critical investments to keep the american economy competitive in the twenty first century or are we going to delay those critical investments just to protect millionaires and billionaires from any sort of tax increase seems like common sense unfortunately the president's budget is dead on

arrival in the house of representatives that's because he's going up against one of the most radical republican parties in our nation's history a party that has a drastically different vision of america from the vast majority of the rest of us there is a cycle of radicalism in the republican party we've got to laid out here let me walk through. this is basically the cycle from the twentieth the entire twentieth and part of the twenty first century so we started out at the turn of the century from the one thousand eight hundred to one thousand nine hundred twenty roosevelt a republican president and a progressive back then there were a progressive republicans in fact there were a lot of them and he had teddy roosevelt pass the tillman act one thousand and seven being an illegal for corporations to give money to politicians big bust that up the trusts the republicans of that era were you know quite significant but it seems like every generation i mean literally every generation there's this shift from rational republicans to insane republicans nine hundred twenty warren harding

comes into office nine hundred twenty one actually he is motto is more business and government less government business he dropped the top income tax rate from seventy three percent out of twenty five percent deregulated markets which produced of course the the bubble of the twenty's and the crash of the one nine hundred thirty s. and so in this in this period of time he had the new deal republicans basically during the during the f.d.r. administration and the new deal republicans. you know they they were functionally powerless actually then came in one nine hundred forty six the do nothing congress this was during the presidency of harry truman right after the war and in in this. incredible congress the only lasted two years they passed the taft hartley act that blew up the right of individuals to form a union to a large extent at that point in time right about here we have thirty five percent

unionization the country is the highest ever have partly began the destruction of that. harry truman introduced literally universal single payer health care system they blocked that. truman ran against it and was so successful that the republicans couldn't take the house again for forty six years so they've they collapsed and they were followed by a rational eisenhower administration massive infrastructure investments in our famously said should any political party attempt to abolish social security unemployment insurance and limit it in the limit labor laws and crime programs you would not hear their party again in our political history is a tiny splinter group of a few of the texas oil millionaires and occasional politician or businessman from other areas their number is negligible and they are stupid so that is the rationalizing how republicans put out a generation later came the irrational goldwater republicans oppose the civil rights laws thought it was all about states' rights they wanted a belligerent foreign policy which just handed lyndon johnson the daisy ad you know

hey let's have a nuclear war and of course there were goldwater wanted to cut taxes for the rich and deregulate industry he failed and it collapsed and so we got the nixon republicans back to so my rational republicans i mean you could argue it's and was mentally ill but you know nixon actually nine hundred seventy three proposed what is almost absolute identical program as obamacare. and you go back and look at the history of it it's pretty stunning they created the e.p.a. during that time progressive taxation was you know strong and in place that the top tax rate was ninety one percent richard nixon thought that was fine the nixon rational republicans were followed by the radical republicans again the reagan reagan guns in office created biggest tax cut for the rich since warren harding which produced and by the way that was so bad i mean that hurt the budget so badly that he also passed the biggest tax increase on working people in the entire

history of the united states he started a war on working people by busting the patco union this was in the spirit of the do nothing congress in one hundred forty six forty seven taft are the result of reagan's tax cuts massive tax codes and his war and working people was a twelve percent unemployment rate a great market crash these were the worst since the great depression the rate of ministration of the most convicted criminals of any administration in history and produce the biggest debt in history i was followed by the rational republicans george h.w. bush course the radicals didn't like him much they kicked him out of office and they end he was followed by his son the irrational george w. bush cut taxes on the rich again dick cheney famously said deficits don't matter they had two wars without funding poison pill and medicare the post office and then the radicals in the zero eight election they lost power again they lost the house the senate and the white house and then two thousand and ten the tea party better so i guess the question now for two thousand and twelve is what's going to happen

with the moderate republicans is going to be ron is going to become the moderate how is this cycle going to play out i'm not sure but i think our guest might have an idea. so with radical republicans on one side and president obama on the other side how might this budgetary battle shake out and what does it mean for our still very fragile economy for more on this as well as what we can learn from budget woes across the atlantic in greece i'm joined by max frog will economist instructor at new school university and senior analyst crossed capital bax welcome thanks for having me great to see you we've seen some good economic signs in the last month but can our economy really sustain the sort of growth without massive infrastructure investments. i don't think we can sustain the growth we've seen

although we've seen four or five months of relatively better and better news on employment which is a big and important help we haven't really seen the news improve on wages which i think we can sustain without and we haven't seen the housing issues sort of begin to work themselves out and i don't see a long term sustainable recovery without that what we are doing better credit where credit is due with certainly better to sit here and talk to you tonight with five months of relatively positive employment paida as opposed to one when last we spoke when we were still worried if we'd ever get relatively positive employment data three four five months in a row so that's probably positive on the other hand we have a kind of economically reductive agenda floating around out there for huge budget cuts and i think we really do have a pretty serious risk to a fragile recovery both from budget cutting inside united states and also from fairly severe austerity passing really all over the european union even if were most likely to see it discussed around greece with the riots in the streets of athens but in places like ireland to be united kingdom portugal and spain we're

seeing a pretty serious recession take hold and what is the world's first or largest first or second largest economy depending on how you count it up and i want to get to that right after the break but first just to kind of wrap this up what's the real economic effect of raising taxes on millionaires and billionaires when we hear all these dire warnings and yet it seems like the time when they're there their top tax rate was ninety one percent was the time of greatest growth in this country. yeah i mean i think we're going to see a pretty lurch a pretty aggressive increase in dividend tax rates and that might be where we'd see a little dislocation in general what we're doing is going back to the pre-book tax code levels which are still both internationally and historically low so often americans will still be paying less than they did in most of modern american history most that more than you know much less actually that most of their counterparts in other developed countries so we're not looking at a high tax regime or an enormously progressive tax regime we're just kind of looking at undoing the regress seventy and the drawdown in tax collection that

we've had since two thousand and three so it's more of a return to a baseline i don't know about will be short term helpful for economic growth there's no long term shock and shoring up the situation of the federal as well as some state local governments so if we were in very dire condition we'll probably do a lot more good and it will do harm max i'd like to like to get into the whole thing with with you about what's going on in europe and in greece let's we're going to take a quick break and we'll come right back that's right. coming up athens is on fire so what can we learn from austerity in greece as republicans try to bring into america more from economist max broadwell afterward.

it's. just. it's just so. wealthy british style. why not. find out what's really happening to the global economy with meit's concert a no holds barred look at the global financial headlines tune in to cause a report on our.

welcome back i'm speaking with economist and instructor a new school university max fraud wolf max let's move on to greece there are massive riots all week as the greek parliament passed another austerity measure to pave the way for a bailout number two well the new york times is reporting today that quote

a quarter of all greek companies are going out of business since two thousand and nine and half of all small businesses in the country say they're unable to meet payroll the suicide rate increased by forty percent in the first half of two thousand and eleven nearly half the population under twenty five is unemployed and max is this disaster capitalism at work. i mean this is only ambiguously a disaster this is a sort of accelerated greek depression shock being delivered to greece we've never really seen anyone cut their way to prosperity in fact this is reminiscent of the least successful most painful and often politically destabilizing programs associated with the i.m.f. structural adjustment policies all over the developing world in the one nine hundred seventy s. and eighty's and one had kind of hoped that by the ninety's we had learned our lesson in fact even the i.m.f. had often begun the process of discussing the mistake in nature of trying to force a country that obviously can't pay back creditors at the cost of denying its future

its most vulnerable citizens in its youth the opportunity to succeed and of course pay for a functioning social safety net we've never seen anyone cut their way of prosperity and the cuts being pushed through and greece sent the country into something like your receivership and are fairly savage in terms of their political impact their physical impact on the population and of course their political impact which we literally see alumina in the night sky in the form of burning buildings around the parliament every time one of these parliamentary push through votes pretty much yields to the pressure from the troika of the european commission the european central bank and the international monetary fund max how does the republican vision here in the united states of balanced budgets and cutting spending correlate with the greek austerity program. it was pretty hard to imagine any government imposing austerity program as harsh as the one being pushed on the greeks internally without an external pressure that being said i think we should be watching greece and to

a large extent ireland which we talk about in the u.k. which we talk about last even if they're less severe as the ghost of christmas future if we follow the sort of scrooge approach to try to balance this budget you simply can't cut your way back to prosperity you need growth you need opportunity and casting off a generation of young people their dreams their aspirations their educations and offering them no opportunity i mean greece is pushing through one hundred fifty thousand more public sector job cuts across the board double digit wage cuts for people we've already seen two rounds of these this is now the third attempt to cut your way to strain and the last two attempts to cut your way to strengthen greece savage and this one produced a deteriorating economy which is now contagion is sort of skipped the border and is sending a signal greece is clearly being made to punish as an example to other countries and the idea here is do what you're told to go and up suffering what greece is suffering so it's a demonstration of fact it's nasty.