me to discuss this is question dorsey director of external and government affairs at the economic policy institute christine thanks for coming back on the show but what is congress doing right now if you can you honestly if you saw me one positive thing of the congress is doing to really create jobs other than i don't know allowing businesses to continue enjoying all those tax breaks or slashing abortion funding and all that stuff you know unfortunately anything positive to deal with creating jobs in this country is really left off soon as we made this pivot to being all about the deficit once that dominated talk in congress and from the white house quite frankly we haven't done anything to deal with the enormity of the jobs crisis that you talked about fourteen million people unemployed and if you really look at some other indicators the legal market is in a lot worse shape and that the fact that we haven't had any results from congress will be disappointing now i just wonder too we're waiting for jobs numbers for the month of may to come out on this friday but if we just look at the first four m

now economic policy making in the new russia is very similar to what it was in the old soviet union a study by a research group at the gaidar institute for economic policy says it worth cases growing state expenses are pounds extra or revenues but harris from business news europe magazine explains it it just amplifies the need for reform. in the beginning united states through a big push where you spend heavily on infrastructure you get that was promised turning you put some money in the system but then once you get mr green shoots of free and rise in the state needs to step back and nurture business and let's ignore state spending that's about tax credits and maybe code something he wrote or see coming into more. rushes at that station or is transitioning down to the state spending and it needs to nurture business and is not very good at it but the state if we still thinks in terms of the big question was you know we just put more money in the economy. that will that will lead to any more inflation or more imports that we want to be rid of just cause your economy seems. let's take a look at the markets. lower as opec members gather

economic policy making in the new russia is very similar to what it was in the old soviet union a study by a research group at the gaidar institute for economic policy says in both cases growing state expenses are balanced by extra well revenues but an heiress from business news magazine explains it just provides the need for reform. in the beginning you need the states to do a big push where you spend heavily on infrastructure you get with the promise turning you put some money in the system and then once you get this sort of green shoots of free and arise then the state leaves step right and nurture business and that's no space spending that's about tax codes and labor codes in europe you see cutting its trade in my view russia is at that stage now where it's transitioning out of the state spending and it needs to nurture business and it's not very good at it if we still thinks in terms of the big push you know we'll just put more money in the economy as i said it will that will lead to any more information and more import so we want to give you any growth and just cause you economic problems . so you get the markets now and we

economic policy making in the new russia is very similar to what it was in the old soviet union a study by a research group at the institute for economic policy says in both cases growing state expenses balanced by revenues but errors from business news europe magazine explains it's just just need to reform in the beginning united states through a big push where you spend heavily on infrastructure you get with congress turning you put some money in the system but then once you get this in the green shoots of . then the state needs to step back and business and that's not state spending that's about tax cuts and maybe some bureaucracy cutting it. rushes at the station or worse transitioning out of the states when he needs to manage a business that is not very good at it but the state that we still thinks in terms of the big push you know we'll just put more money in the economy. that will lead to it will be more information and more imports and we want to make. just cause or economic problems but is broadly seen as part of the merging brics countries together with presidential india china and south africa but it's growth is

because of its policy making in the new russia is very similar to what it was in the old soviet union a study by a research group at the institute for economic policy says in both cases growing state expenses are balanced but extra oil revenues but as from business news your magazine explains it's just. a far. in the beginning you need the states through a big push where you spend heavily on infrastructure that was promised turning you put some money in the system but then once you get this sort of green shoots of free and price then the state needs to step back and nurture business and that's not state spending that's about tax credits and labor code so bureaucracy cutting it down red tape in my view. is a station hours transitioning out of the state spending and it needs to nurture business and it's not very good at it it's a definite still thinks in terms of the big push you know just put more money in economy and i said well that will lead to will be more inflation and more imports so we want to give you any growth just cause or economic problems russia's border is seen as part of the nurturing brics countries together with brazil india

you know the policy making in the new russia is very similar to what it was in the cold in the old soviet union a study by a research group at the gaidar institute for economic policy says in both cases growing state expenses are balanced but the extra oil revenues that arris from business news your magazine explains it just after the need for reform. in the beginning you need the states through a big push or you spend heavily on infrastructure you keep it was almost turning you put some money in the system but then once you get this sort of green shoots of free enterprise then the state needs to step back and nurture business and that's nor state spending that's about tax codes and labor codes and bureaucracy coming in firmer it's right in my view and russia is at that stage now as transitioning mounts of the state spending and it needs to nurture business and it's not very good at it this way if we still think sometimes of the big membership was you know we just put more money in the economy and this is the one that will lead to many more information more imports and we want to give you any growth just because your economy problems. let's take a look at th

it's not a policy making in the new russia is very similar to what it was in the old soviet union a study by a research group at the institute for economic policy says in both cases only state expenses are balanced revenues but hours from business news europe magazine explains it just up the powers than it are for from the beginning you need the states to do a big push where you spend heavily on infrastructure problems turning you put some money in the system and then once you get this sort of green shoots of rice then the state needs to step back and business and that's not state spending that's about tax credits and maybe some bureaucracy. rushes about station or worse transition with the state spending it needs to nurture a business that is not very good at it if he still thinks in terms of the. woods but nobody. said it will lead to any more information or imports are going to be really just cause or economic problems. russia has often been criticized for its red tape overburdening foreign business daniel thornley global business consulting believes it's not for many other parts of the world. i think political risk in russia is globa

because of a policy making in the new russia is very similar to what it was in the old soviet union to start a study by a research group at the gaidar institute for economic policy says in both cases growing state expenses are balanced by oil revenues now but arrows from business news your magazine explains it just amplifies the need for reform. from the beginning you need the state to do a big push where you spend heavily on infrastructure you get there with the promise turning you put some money in the system and then once you get this green shoots of free and rice then the state needs to step back and nurture business and that's not space spending that's about tax codes and made some europe or c. coming at them or take my view russia's at that station i was transitioning out of the states when they released an urgent business and it's not very good at it but they say that we still thinks in terms of the big push you know we'll just put more money in the economy i said well that will lead to will be more information and more import so we want to give you any growth and just cause your economic problems and that's all from me in the business team here an

the economic policy institute's andrew fieldhouse says the market isn't buying it either. >> the major forecasters, the people who are being paid for real economic advice, would all disagree with this. >> reporter: congress's own congressional research service examined studies that found countries that cut their deficits grew faster. instead, the c.r.s. found deficit cutting was only successful in creating jobs in countries that began the cutbacks with very low levels of unemployment. the report concludes: "reducing the deficit while the economy is still fragile and well below full employment would likely involve further contraction." but former bush administration economic policy expert andrew biggs says the type of spending cuts also matter. infrastructure cuts are likely to hurt growth, but cuts in government paychecks or entitlement programs might encourage more people to work, boosting growth. >> there is a lot of moving parts here. i am not strong proponent that cutting spending in recession is going to give you a burst of growth, but it is the best policy we should make for the

great job or start a great company are going to be seriously in the hole according to the economic policy institute the us economy currently has one job for every five applicants meanwhile a business for bankruptcy attorney ninety littman is surging half of his clients are unemployed degree holders drowning in debt anyone going to college essentially is gambling once again from an investor's point of view right now the way the dollar is the way inflation is going and the way the job market is a college education just isn't a good investment and not a good return on your money even economics professors on the inside like richard wolfe say in sleeving students to banks is a disaster for america's economic viability the future of any country in the world economy these days the pens first and foremost on the quality and the quantity of. crane and new young workers and the major institutions that produce that or the colleges and universities you're pricing them out of being able to do that. today i had to pull my no longer serves as a guaranteed passport prosperity for americans in the meantime the numb

white house task force on the middle class prior to his still white house he worked for the economic policy institute was the deputy chief economist at the u.s. department of labor currently he's a senior fellow at the center for budget and policy priorities and given our nation's current economic problems he's the man to talk to it's one pleased to welcome in the studio here dr jerry bernstein thank you tom thanks for joining us a pleasure. and first of all just a personal question if i may. many musical prodigies were also mathematical privacies you know it's a great example there's a math the music you started out music how did you end up you know to me. i'm not sure if you know. new music is just a huge part of my life it always has been. it was very drawn to music early on but interestingly i think there is a connection there i always liked math and statistics and ultimately being a musician i think in another wrinkle here is being a musician i felt i wasn't really doing enough on kind of the political economy side of life i was brought up in a household where if you're not part of the solution

one economist at the liberal economic policy institute says the gop is playing chicken with a freight. >> they're behaving like children. they're not getting their way so they're refusing to act. but it's incredibly irresponsible and they better come to their senses before august 2nd. >> reporter: the doomsday scenario has many folks worried. >> terrified. >> we'll lose our credit rating, next time we need to borrow, nobody will give us money to borrow. >> reporter: but republicans are holding the line arguing the $14 trillion u.s. debt is a drag on the economy, hindering job growth. they're demanding billions of dollars in spending cuts before signing off on raising the nation's debt ceiling by another $2.4 trillion. if you're going to raise the debt limit, the spending cuts should exceed the debt limit. >> reporter: republican lawmakers met with the president in what's been described as a frank discussion, but so far no deal. there are americans who agree that the binge spending needs to stop. >> i don't think the debt should be raised anymore. i think we need to stop spending as mu

according to the economist with the economic policy institute, and i quote, federal, state, and local government save between $10 and $78 for every dollar invested in the auto industry restructuring plan, end of quote. the value of our investment in the auto industry becomes even clearer when we consider the cost, according to the center for automated research, even a 50% reduction in the operations could have reduced personal income by more than $275 billion over three years, resulting in a loss of more than $100 billion in state and federal tax revenues. the federal government investment saved hundreds of thousands of jobs and gave them a new lease on life. the committee will hear today from one of the principal architects for our investment, mr. ron bloom. i welcome his testimony. i also welcome the testimony of our other witnesses, former congressman vince snowbarger, dan ikenson, mr. thomas kochan,d miss dalmia and bruce gump. delphi in 2005 filed for bankruptcy and took over the company's pension plan. gm agreed to top up the pension of delphi unions. meaning they will receive t

one economist at the economic policy institute is saying the gop is playing chicken with a freight trainy are behaving like children. they are not getting their way so they are refusing to act. but it's incredibly irresponsible and they better come to their senses before august 2nd. >> the doomsday scenario has many average folks worried. >> we're doomed. i'm terrified, to be honest. >> we're losing the credit rating. next time we need to borrow, nobody will give us money to borrow. >> reporter: but republicans are holding the line, arguing the $14 trillion u.s. debt is a drag on the economy hindering job growth. they are demanding billions of dollars in spending cuts before signing off on raising the nation's debt ceiling by another $2.4 trillion. >> the fact that if we're going to raise the debt limit, the spending cuts should exceed the debt limit and otherwise it will serve to cost jobs in our country. >> reporter: republican lawmakers met with the president in what has been described as a frank discussion but so far no deal and there are agreements that it needs to stop. >> i just t

the economic policy institute estimates that as of the fourth quarter of 2010, the recovery act had created or saved up to four million jobs and as many as five million full-time equivalent jobs. the nonpartisan congressional budget office estimates that through the end of 2010, the recovery act had raised the real inflation-adjusted gross domestic product by as much as 3.5%. so to those who said the recovery act didn't do anything, that's nonsense. that is absolute nonsense. it did a lot. but here's the problem: the shot in the arm provided by the recovery act is now winding down. in the absence of further federal assistance, many states are making deep budget cuts and layoffs of public employees. listen to this: in texas, governor perry has proposed to cut education funding by a staggering $10 billion in texas. new york city, mayor bloomberg has proposed laying off 6,000 teachers. total state and local government layoffs since august of 2008 have been nearly 500,000. if the federal government follows suit with massive short-term spending cuts, the prospect of a a double-dip recession will

he's michael mandel, chief economic strategist at the progressive policy institute. >> president obama is always talking about the importance of innovation. in a recent speech in pittsburgh, he promised, "to help make sure america remains in this century what we were in the last, a country that makes things, a country that out- builds and out-innovates the rest of the world." yet, while obama praises innovation, his regulators seem to be following a search and destroy mission against some of the biggest innovators in the economy. for example, the federal trade commission just opened an antitrust inquiry into google, a company whose innovative accomplishments are the envy of the whole world. unlike many other large american multinationals, google is investing billions in the united states and creating jobs here as well. the number of american jobs in the internet publishing and web search industry, of which google is the leader, has grown by 45% over the past four years. why would we want to pull them down? meanwhile, the food and drug administration has been slowing down the approval o

workers on federally funded construction projects be paid no less than according to the economic policy institute, the differences in labor costs that this makes are insignificant, average labor costs including benefits and payroll taxes are roughly one 1/4 of construction costs. thus, if there's an increase in overall construct cost due to higher wages it likely would be modest, to the point in many cases of being virtually undetectable. and in fact davis-bacon in assuring that fair wages attract skilled workers, this might actually mean that the work is completed at a higher quality and in less time. this amendment flouts the basic concept of wage fairness. at the exact time we're trying to get people back to work across the country, is this house going to vote to drive down the wages of workers who do business with the government on the theory that it might cost a little less money on construction projects? and are we going to strong arm the states and say they can't uphold the labor standards they've adopted in their own right? i strongly recommend a no vote. the house has spoken repeatedly o

in town to give a speech at the stanford institute for economic policy research. >> when you launch technologythis, you want to ill listen to your customers and be able to intervene very quickly if there is anything that they are not satisfied wishing leaf has been the pet project. critic point out however that electric vehicle still face up hill battle. eric president of the car lab helps auto makers plan and design new vehicles. he talked to us by skype. >> as much as all of us want vl electric car the battery aren't prime time in vehicle and they don't look like they are going to be for at least the next 10 or 20 years. >>reporter: range in cost still major factor. leaf and other electric vehicle face another issue. major study will get under way soon to look into a possible fire hazard with lift um battery used in electric vehicle. nissan in the process of a building new automobile an battery production facility in tennessee ready at the end of next year. when it opens it will greatly speed up delivery and l production of the electric vehicles. at establish ford, abc 7 news. >>> pl take yo

institute dealing with health policy issues. he previously was the senior health economist of the joint economic committee. you strict of health policy studies at the cato institute, a chief economist with the competitive enterprise institute and also serve on a national advisory council for the agency for health care research and equality so we are very like to welcome tom miller who also was a former broadcast, sports broadcaster with the wildcats. welcome, tom. [applause] >> thank you very much, grace-marie, jim, bob and all the other folks that are respected institutions and harpercollins for making this wonderful book, rocket possible. i'd like to thank the obama administration, the last congress for making this necessary, i don't want to. so let's just continue our collective -- our books written to provide you with a firm foundation understanding of the serious consequences of the unaffordable care act, or a.k.a. tca for americans and injuries slices of life. i think we did it in a clear and accessible manner at least my co-authors did. but there's always a bit of the bill murray groundhog day experi

kevin is a senior fell sexow director of economic policy studies at the american enterprise instituteor public policy research. before joining a.e.i., he was a senior economist at the board of governors at the federal reserve system, an associate professor of economics and finance at the grass roots school of business of columbia university. he was a policy consultant at the treasury department during the george h.w. bush and clinton administrations. he served as an economic advisor to george w. bush 2004's presidential campaign. and as senator john mccain's chief economic advisor during the presidential primary. he also served as senior economic advisor to the mccain presidential campaign. he is a columnist for national review. he earned his ph.d. in economics at the university of pennsylvania. doctor, welcome. our fourth panelist today, chad stone, a chief economist at the center on budget and policy priorities, where he specializes in the economic snals of budget and policy issues. dr. stone was the acting executive director of the joint economic committee here in 2007, and before

kevin hassett is a senior fellow and director of economic policy studies at the american enterprise institute for public policy research. before joining the aei, he was a senior economist at the board of governors, federal reserve system and associate professor of economics and finance at the graduate school of business at columbia university. dr. hassett was it was a consultant to the treasury department during the george h. w. bush and clinton administration. he served as economic adviser to the george w. bush 2004 presidential campaign and senator john mccain's chief economic adviser during the the 2000 presidential primary. he also served as the senior economic adviser to the mccain 2008 presidential campaign. he's a columnist for the national review. dr. hassett earned his ph.d. in university pennsylvania. welcome. our fourth panelist today, chad stone is the chief economist at the center on budget and policy priorities where he specializes in the economic analysis of budget and policy issues. dr. stone was the acting executive stricter of the joint economic committee here in 2007 and be

. >> tiffin hassert is a senior fellow and tutor of economic policy studies at the american enterprise institute for public policy research. before joining the aei commission was a senior columnist of the board of governors with federal reserve system and an associate professor of economics and finance at the grassroots school of business at columbia university. dr. hassert was a policy consultant during the george h. w. bush and clinton administration. he served as the economic adviser to the george w. bush 2004 presidential campaign and as the senator john mccain's chief economic advisor during the 2002 primary. heels after served as the economic adviser to the mccain 2008 presidential campaign and is a columnist for national review. dr. hassert earned his ph.d. in economics at the university pennsylvania and dr. hassert. welcome. our fourth panelist today chad stone is the chief economist at the center on budget and policy priorities where he specializes in the economic analysis of budget and policy issues. dr. stone was the acting its ticket to the editor of the joint economic committee here

kevin is a senior fellow in the director of economic policy studies at the american enterprise institute for public policy research. before joining a.e.i., he was a senior economist, the board of governors, the federal reserve system, and associate professor of economics and finance at the school of business of columbia university. he was a politics consultant at the treasury department during the george h.w. bush and clinton administrations. he served as an economic advisor to the george w. bush 2004 presidential campaign and as senator john mccain's chief economic advisor during the 2000 presidential primaries. he also served as senior economic advisor to the mccain 2008 presidential campaign. he is a columnist for "national review." he earned his ph.d. in economics at the university of pennsylvania. dr. hassett, welcome. in our fourth panelist today, chad stone, is a chief economist at center and budget priorities where he specializes in the economic analysis of budget and policy issues. dr. stone was the acting executive director of the joint economic committee here in exetch and bef

economic policies and all the same economic mistakes that led to this situation of the first place and most markedly i think the biggest problem right now is the emergence of the same international financial institutions that have been bankrolling the mubarak and ben ali regimes are now reemerging to bankroll the new emerging tunisia and you imagine egypt with a lot of money and a lot of debt and a lot of central plans in washington for a giant a comic. projects that will supposedly bring about economic transformation in these countries i'm very skeptical of that happening and i think that it's more likely that we're going to see a repeat of the same structural problems that these are the sort of initiatives have created in those countries previously and will continue to create for a while now their revolution in cairo is pretty sophisticated and the people on the ground seem to be following day minutiae of this pretty closely what about the idea of are really revolutions just keep revolting again and again until they get a right i think the majority of people in egypt on under no illusions that their revolution is over i think this is what most people in egypt and tunisia continue to say they've remo

policy priorities. we're also joined by kevin hassett from the american enterprise institute, where he is the economic policy director. thank you both for coming to talk about jobs and job creation. bob greenstein, what is the of job stagnation? guest: we did not have a normal recession. we had a financial crisis. history suggests that when there are big financial crises it takes much longer to recover. basically, employment fell off a few years ago. we are now gaining jobs each month, but that such a slow rate that the unemployment rate is not coming down much. in addition, the housing market is still very weak. there are problems internationally. we're part an international economy and there are issues in europe and elsewhere. and the stimulus that was enacted in 2009, that is feeding how now. it is putting a drag on the economy. one other factor, state budgets have to be balanced even in a recession. they are laying off people right and left. in the last 18 months, 350,000 jobs lost in state and local government. those people lose their jobs and do not spend as much. it has a ripple effect. other people l

institute for international economics. mark weisbrot is co-director of the center for economic policy and research. he studies international economic issues. welcome to you both. let's just start with the broad question-- for debt-strapped countries, like greece, do austerity-- a combination of tax exphikz deep spending cuts, does it work? >> it's painful. there's no question about it. you're seeing that right now in greece, but sometimes, unfortunately, it's unavoidable. you can argue about the pace of the austerity, perhaps find a better way to do it, have more financial support from outside the country but when you're in the wagz greece is in, it's very hard to find an alternative that doesn't involve austerity. >> warner: mark weisbrot. >> i think there are always alternatives. if your unemployment has doubled and economy is expected to shrink just as much next year as last year and you're making massive budget cuts and tax increase. there is an alternative. >> warner: are you saying it doesn't work? >> yeah, it doesn't work. i think simon would agree and most economists would say in the short

and president of the earth policy institute it over fifty books on our planet and the environment his most recent is titled world on the edge of an environmental and economic collapse but our environment the midst of turmoil and uncertain future ahead he's the man i want to listen to that's why it's an item pleased to have here in the studio with me. welcome to the program my pleasure it's actually not done. ok lester brown who caused it and i got honorary degrees together once an ohio state really and he of course being an actor wouldn't have a ph d. and i have a had research institute for thirty five years would have in reality bill cosby does have a p.h.d. in education university of massachusetts i don't have a school for the record right it's great that we have but but your books i would say in fact it was in a book or article you wrote who we will feed china when i was writing last starvation sunlight but it was an article that became a book that that book so deeply influenced my thinking and in the writing that is that you have influenced so many people in so many ways over so many years. but anyway we have a feeling of global civilization. what indi