mort zuckerman, eliot spitzer and ar rana huffington. an august panel, i might say. ow you all have opinions on this. i'm going to start with you, mort. you say when it comes to unemployment, we are worse off than we actually realize. >> yes, because the real unemployment rate is close tore 18% than it is to 9%. the reason for that is the average length of unemployment now is 40 weeks. the number that you referred to, the 9.1% put out by the government, the so-called headline unemployment number, they only count people who have applied for a job in the last four weeks. when you've been out of a job for 40 weeks, you don't apply for a job every four weeks. if you measure it by another government stas tick, they measure people who have applied for a job in the last six month s which makes more sense, the unemployment rate is 15.9%, almost 16%. you referred to the quality of jobs. the fact is in each of those months and indeed for the last 2 1/2 years since president obama's been in office, not a single net permanent job has been created. in the last month, they announce

our buddy mort zuckerman does. >> those people not paying taxes, that 51%. they will trade. >> i want to go around the table before we go to a break. yes or no, given the factf oh the headline we heard this morning about what the white house is preparing to do to get a little bit here. should the repibbs give a little bit? assume yes. yes. should they give a little bit on the tax issue? >> keep the commitment to the american people. >> oh, lord. >> run for office again. >> this guy can't get him -- you can't pin him. >> but he represents -- this is good. you're a little outnumbered today, pat, with joe being on. we want to hear what you have to say. >> i take the interesting thing, saturday night in nobu in east hampton, when he was trying to make his way with the more liberal female set, he was singing a very, very different story. that's all i'm saying. >> rock star. >> tax increases for everybody. he was the toast. he was the toast. >> good lord. up next, former president bill clinton pits his advice on the debt ceiling debate. one of the top stories in t

back with us on set we have sam stein, mort zuckerman, who is so bored. >> hanging out with paul mccartney his business is in the droll drums. michael steele, and in washington, former governor howard dean. >>> with the deadline looming just 11 days away, president obama is expected to hold a town hall on the deficit in maryland today, it comes amid reports that the president and the house speaker, john boehner, are advancing towards a last-minute deal, news that has some democratic leaders in an uproar. at issue, a plan that would reportedly save $3 trillion over the next decade through steep cuts in spending but offers no specific tax increases. concerns about entitlement cuts are prompting many lawmakers to say the house's so-called cut, cap and balance plan will fail in the democratic-controlled senate. harry read has moved up a vote on the legislation to today instead of tomorrow but not before blasting the bill on the senate floor. >> i think this piece of legislation is about as weak and senseless as anything that has ever come on this senate floor, and i'm not going to waste the se