elizabeth mcdonald is doing great reportog this. this is a gat -- gnat on the back side of the elephant. our government is spending 1.3 trillion more than they will talk n and we are worried about a retreat for employees. >> emac. it was not just one retreat. you broke the store tore about the palm springs thing for interrence and went on and on. and the reason for the retreats awn was to bring in many federal agencies and tell them how to spend money and buy chevy volts. that is where it turns into billions. >> yeah. the gsa was for policing on the spending on airline tickets and conferences . the president want to raise taxes when we have scandalous waste and abuse going on in the gsa. i say get rid it i am not burn down the government. cvc, for example does a great job. but the gsa didn't unload the real estate that it is sitting on. trillion bucks it could have mad for taxpayers. it is incompetent and i say break tup. >> you will not reform government that is big as this one. the only answer in terps of reform is to shrink it. >

elizabeth mcdonald joins us. tell me how grim is this? >> it is pretty grim. unemployment rate with college grads is highest in 11 years as you just pointed out. it's grim because the college grads are coming a work force where full unemployment rate where so many layoffs have been hitting the u.s. economy. full unemployment is at 15%. so these college grads are taking jobs that will not be able to cover the cost of their tuition which continues to soar. getting jobs as bartenders or retail clerks. this comes at time when college tuition is up about five times since 1999 when household incomes have been stagnant since then. >> i have looked at college tuition. some of them, a lot of universities like stanford and yale and harvard. they have endowments. harvard is $20-30 billion. they are assaulting on money while they charge these high tuition rates? >> that's right. the endowments are size of wall street hedge funds. tuition rates are gouging american families. and tuition goes to cover basically donald trump's real estate empire college administrators a runn

what is going on here, elizabeth mcdonald tells us. >> reporter: you have to have 50 million.a: that's all. >> reporter: that's right, jenna. the question is i'd like to have those problems too the banks are saying this is a growing area of business to offer psychological counseling to the wealthy. wells fargo is offering services of a shrink to handle any anxieties with suddenly becoming rich or passing on the money to heirs. wells fargo is joining citigroup and merrill lynch in offering these services, jenna. it is a growing tend. you know what is interest being is that the banks are saying, look, not everybody inherits wealth. in fact one study says that eight out of ten of the euber wealthy earned their wealth starting out in the middle class. jenna: the catch is the 50 million. >> reporter: the catch is the 50 million. at merrill lynch you have to have at least 10 million. the one thing that one banker said that is really interesting, it's easier to talk to your children about sex than finances. i don't know, it's easier also to bring up the fact that you may have a probl