caioning sponsored by wpbt mickey mouse a hannah montanare joiningorces wi spiderman and ironman in a dealorth$4 billion. theye not the ly ones teaming up. >> susie: when it cometo a second smulus package, more and more economistsay it just doest add up. but there's no consensus when it comes to proects for inflationd the timing of a recovery. >> you wouldn't want to pull the rug from american families trying to buy a house and from the financial system tha only now is looking at a stabilizing usingactor. >> paul: that's wt some

experts say would hpen if uncle sam stopped buying mortgage-backed securitys. we'll ok at options f reducing the fed snding spree. >> susie: daysfter anuncing a new schule for its green liner boeing announces a major management shake-up. details in tonight's stock in theews. >> pau i'm paul kangas. >> susie: and i' sus gharib. is is nightly busess repo for monday august 30.

>> sie: good evening, everyone. the gornment needs to stop spending money on the u.s. economy. that's the conclusion toy fr a new poll leading economists conducted by t nationalssociation of business ecomics. acrding to the rvey, 76% of those economists donot believa second stilus package is necessa. saying the economy is now beginning to recover. stead, they say the u.s. government should cut spending ov the next two years. scott gurvey has details. >> rorter: the economists

poed were generally supporti of currentiscal and monetary policy. but guard about prospts for the fure. fo out of five say e governmenttimulus programs have add to g.d.p., but ree out of four don't believe a second stimulus package is needed. on economist think the current imulus package is enou. >> we've only aocated... we've allocateless than a third of it. th administration desned is thing to be a time-release caule. expecting that expeitures wod go onnto 2010 and continue to give som support to the economy. so ia way we ve a sond stimulus packagelready in the books. >> reporte whether or not it is needed, oneconomist believes more stimulus is somethingpoliticians will be unable to resist. >> i thinkhere's a very good chance thawe will ge another stimus package i don't thinit's going to be ywhere near as large as the february 2009 package. d it may be tacked to other measures such as another

tension of unemploent been anyshat then gets combined with some other meases in the r-up to t 2010 mid-term electis. >> reporter: othe issue of inflatn the nabe and oth econists are split. some believehe stimulus and budget deficitmake inflation inevitable. hers say the fed caneep it under corol. >> therere a number of instrumes that we have to exert reraint. there's no rl limit to that so if they need toxert more restraint they can aolutely do tha i think the... this whole bate that the fed wld be, you kn, unable to fight an inflation threat is mewhat misguided in my view. >> reporter: there is also little aeement on the rength of the recovery and even onts timing. ny economists say the watch the labor markets forey sis. >>e'll see a littlemore use ofpart-time labor. we'lsee the woreek expanding. those are this we wantto watcfor.

becauswe typicly ask people to rk longer weeks before we hire new peopl as we start getting into recovery. reporter: we'll see that information on friday in the august employment port. scott gurvey, nitly business report, new york. >> sus: a big merr monday on wall strt. running e gamut from ergy to entertainment. firstaker hughes auying b.j.services in a dealworth $5.5 billion both firms are energy service companies and the move is a way to eand their range of products inrospects around the globe. the second big dea, spiderman is becoming theewest resident of the house of the mouse. walt disney is buyg marve entertainment for abou $4 billio theurchase brgs a slew of wellnown film characters under the disney umbrella including spiedy, the x-m, captain america d the fantastic four it's the biggest media deal for disney since it bout pixar animation studios back in 2006. it also the first big media al since the global

financialrunch. analts say it's anotherign that confidce is returning to the marketplace. small that revival of big takeov activity by disney could not couer a6% plunge in the market as wal street opened wh a sharpell-off. an hour in trading the dow fell nearly 100 points while th nasdaq st 30 points. the marketmproved a bit ov e next several hrs on better than eected reading on midwest business tivity. t after the big august rally, profitaking prevailed and stoc ended broadly lower. the dow industrial arage closed off 47.92 at 9496.28. the nasdaq composite wasff .71 ending at 2009.06. stanrd and poors 500 lost 8.31 a 1020.62. in the bond market, t ten-year note rose 13..

>> susie: i you're cheating i don't your taxes the i.r. is going to roll out another weapon in s arsenal to cat you. yourortgage. the agency i going to look at mortgagenterest dat in tax returns and compare to data from banks. the i.r.s. saysit could be losing more than a blion dollars a year throu those crks. reconciling the twsets of numbers uld turn upens of thousands of people who aren' reporting or who are derreporting their actual income. small. >>aul: many of those mortgages are owneby une sam. the federal reserveas spend a trillion dollars to propup the mortgage marke this year. expes say bernanke plots an

exit strategy from allthe crit-support programs the mortgage market may behe hardest to leave. darrenersh reports. >> reporr: here's the using pop quiz. if the federal reseah stopped bung mortge-backed securities right now, how much high would mortgage rates be? a, a little higher. b, a lot gher. or c, so high i don't really want to nd out. thcorrect answer, says mortgage exrtguy, is c. >> it's gues mating but at ast probably a full percent hier than they are now. nobody reay knows. the fed jump into the market when there was concern there weren't going to be enou investor in there. so, we don't kn what it's like and nody really wants to try it. >>eporter: the fed has alreadyought more than one trillion dollars in mortge- backed securies this year. virtlly all of the new housing debtssued in 2009. he says the fed will need to keep buying mortga debt well into next year when the central bank mayegin to wea

the market from this government subsidy. >> y start dialing back a litt. you see wh the pact is. are her invesrs stepping up to th plate touy the stuff? are rates suddenly shooting up? >> reporter: along with the housg market itsel, phil, a form treasury onomist, sa the last thinghe federal reserve wants is to strangle the long-awaited turn- around in housin >> you woun't want to pull the ru from american families. trying to buy a hou. anfrom the financial system that only no is lookinat a stabilizing housing sector >> reporter: andhere's another challenge for the fed's ex strategy. it buying almost a the debt issued byhe government- controlled mortgag giants fannie mae and freddie mac. congress is good to overhaul the government-sponsod enterprises or g.e.s for short. at's a fact that is not lost onhe markets. >>t's going to be difficult for the fed to stop proding that liquidity f housing finance unl we and uil private investors understa

thfuture of the g.s.e.s. >> reporter: the fed hasold some o its mortgage deb to invests but still carri half arillion dollars on i books. which prests a political problem. doug elliott studies the financial crisis forhe brkings institution. he expes anyone makingis orer living from housing will not be happy to see the fed leave the maet. and will make that clear to membs of congress. >> if sebody stops by and leaves you $100 on your doorstep eve week, you may not needhe money but you want theto keep doing it. reporter: one thing is certain. th federal resve won't be able to leave the housing market until investorsregain their faith in mortgagdebt. and that y still appears a long way away. darren gersh,ight lee business report,ashington. >> susie: a leadi republican lawmaker says he doesn't think a health care reform paage willinclude government-run option. but iowa senarharles grassley say he'still hopeful a al can be worked out toverhaul the hlth

ca system. he toldhe a.p.today he thin a final plan wouldbe smaller than fir expected. grassley'sne of six lawmers trying to work out a compromise over health care. he says not everyone in that group opses a public option buthe reality is such an opon may just not hapn. >> susie: it looks like apple is about to show se the fruit of its labors. the company will hold a mia event next weeknd is expeed to roll out aew line o i-pod media players but as is typical for the firm, apple is refusing to comment on the specifics. observers say look for new

touch-and-nano model probably with digital or video cameras on board. anothebig question for next tuesday's even wil ceo eve jobs make a apeernls. as you know, paul, jobs has returned to apple ter a long medical leave. paul: i he shows up susie it wld be his first plic appearance sce then. let's see what was making public ace pees in our stocks in the ws tonight.

disney is going to acque a

comic book giant for $30 a share cash. that deal isworth just abo $50 a share for marvel. let's have a look what that stock did day.

those are the stocks the news tonight. susie. >> sus: paul, oil prices tumbled almost 4% today on those worries >> susie: paul, l prices tumbled almost 4% today, o rries about china's economic recovery. in new york ading, october crude tures fell $2.78 to $69.96 barrel. ina is the world's second rgest oil consumer, and unti e recession hit, its appetit for fuel wasriving economies around the globe, includg cambodia. as ryan maelzer reports, the glob slowdown has raised doub about cambodia's plans to tap recent fin of oil and gas. >>eporter: strong demand from the u.s. and e.u. had been keeping cambodia's sewing chines working at full tilt. but in theast year, garment ports to those markets have slumpe costing thousands of workers their jobs. arjun goswami of the asi developmenbank says it's a hu blow for a country that still reliesn foreign aid for close toalf the government's budget.

>> thiis an open economy, it's a small economy,nd it's not very diversified, there have been serious iacts. >> reporter: with toism also hit hard, cambodia had hopedt wod start to see revenues this year from the country's firs ever oil and gas finds the waters off cbodia's coast are estimated to conin about two billiobarrels of oil-- small by global standard but significant for e of the world's least deveped countries. subbu bettadapura of csultancy frost and sullivan warnshat extracting cambodia's resees will be challengg. >> they are noin a big reservoiwhere you can go in and tap them. they are in varioupools, so theris a technical challenge for companies to gin and try to monetize these reserv. >> reporter: cvron has been the most active company in exploring cambodia's oil potential. evron is not saying how much oil it believemight be in its

offshore bck or when it might start commerci operations. a company okesman says chevron still has toammer out legal d financial frameworks with the cambian government, and those are serious shortcomgs a country that ranks among e most corrupt in asia. eleanor nichol othe watchdog group global witness has sdied cambodia nascent energy and mineral sectors. >> what you have is two sects operating in wt is effectively a regulatory vacuum with no blic or parliamentary oversight. also, what we've sn happen previously in the forestry sector is that money generat from logging and extractioof that resource ver reached the state coffs, and we want to try and avoid a duplicatioof e same patterns occurring again in t oil and mineral ctors. >> reporter: commerce mister am prasidh rejects those concerns. >> ware not going to use this money pump corruption or to

encourage corruptionbut the money proper managed, properly monitore and properly spent in the right places. >> reporter: camboa is still hoping the oil will art flowing by 22. analyst bettadapura says the timingould end up being a blessing. >> if theyait a little longer till oil prices pick up,hen ey are going to get much higher returns, and you ed to consider the facthat the lifespanf this field is only ten years. >> reporter:he government estites it should reap at leashalf a billion dollars a year from oil angas, a huge boost to its revenues,hich barely toppeone billion dolls last year. rianaelzer, cambodia. >> susie: the wod's biggest retailer is getting even bigger. wal-mart has added almos million new items on its weite. the shops call the wal-mart marketace. unless consumers buytems from a specific group of other retailers.

the additional vendors will expand wal-mart's produc in areas like home goo, apparel, toys a baby items. anhing bought from the marketplacoutside retailers will be handled through wal-martom's checkout proces but the retailers themselves will manage otr serces like shipping, customer service and returns. >> paul:ash-strapped reade cut wn on their news stand magazine purchases durin the first half of the year. the decreas led to a 12%drop in sing copy sales compe ed with the me period a year ago. most large circulation magazines saw slight declines inoverall u.s. circulati while some posted small gains. the figures were released today by the audit bureau of circulatns. won's magazines were among the hardest hit during recession single cop sales fall more than subscriptions becae consumers are likely to refrain from impulse bu. tomoow meet some of the people who makup the s million uneloyed americans

as we kick off our series "once upon a job." >> susie: a fmer trader has been ordered to stand tri. jerome curve was fired last year after the french bank said he was involved in $7 billioin unauthored trade. he is charged with fraud and brea of trust a could fac ve years in jail. head allegedly been making roe trade for yearsy the me the company final discovered i >> reporter: it oks like the chicagcubs have hit a me ruin court. a bankruptcy judge hasleared the y for theaseball team to be sold the family of financ tom rickets. it's a dea with an $845 million price tag andncludes controof wrigley field and stake in comcast srts net. e bankrupt tribune company selling the team a other asts to raise cash.

>> susie: here's aook at at's happening tomorrow. august auto sales e released, along withhe institute for supply management's manufacturing foaugust and july constructiospending. tonight's commentatosays when it comes to turng around the economy, washiton lawmakers cat do it alone. thprivate sector must pitch in. he's douglas holtz-eakin

present of d.h.e. consulting and former directoof the congssional budget office. >> recent weeks haveeen a lot of prosing news about the economy. conser confidence is up, housing ices show signs of reversing a threyear slide, sales of both neand older homes are increasing, anthe stock mark continues to reach new highs for 2009-- a well and good. but we a a long way from a sustained recovery. what will it take? first and foremost, the financial ctor will have to continue to heal itself. we have seenmprovements in credit conditions, but bks continue to fa. sml businesses will be at the heart of a rebound, and they remain starved forredit. the housg market turnaround will have to be real, and no just an artifact ogovernment stimulus likthe $8,000 tax crit for first-time buyers. consers will have to spend enough-- not hand ov fist, but enough to build a undation for businesses to ramp utheir purchases on new equipnt, new technoloes, and new buildings. in short, the privatsector will have take the lead. but that doesn't mn that washington doesn't have mo work to do. it does-- hardork.

it'sot hard to spend $900 billion in stimulus. but recoveryill not be sustained if thrtened by a toxic miof higher interest rates, currency instability,nd inflation, and that ishe threat posed by th administration's plan to brow trillion over the next ten years. the hard work-- cutting fedel spending a raising more revenue-- comes next. let us hope coress and the admistration do not dela i'm doug holtz-ein. >> paul: recping today's market action, stocks d the day lower investor concerns about an economic recovery. the dofell almost 48 points, and the nasdaq lost 19. to learn more about the sties tonight's broadcast, to wat our streing video and to take part in our daily bl, go to "nightlyusiness report" on pbs.org. you can also email us nbr@pbs.org. >> susie: and finally, nt monday mks the nation's 127th observance of labor day. the first one, back in 1882,as in new york city, a rade of about ,000 workers organized by the cpenters' union.

within theext decade, more th half of the country's stes had some kind of labor day, although ere was no set date for it, so congress established labor day as a feral holiday in 1894, and president grer cleveland signed it into l. and we know, pl, it's the fit monday in september, which also n traditionally marks the end of the summer holiday seon for many amerins. >> paul: and my, many happy parents wah their kids go backo school. >> susie: that right. its the beginning of back to school. >> paul: right. >> sus: that's "nightly business rept" for friday, aust 28. i'm susie arib. good night, everyone, and ha a great weekend. yo too, paul. >> paul: and you as we, susie. i'm paul kangas, whing all of you e best of good buys. ightly business report" is made possible by

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