the people at the top are an ever changing team picture. >> dave: and rick unger that is a beauty of the american system, whether democrat or republican who is in charge, we do have the flexibility. people who are billionaires, one year and the next are not, and you have new billionaires? >> yes, that is... that is swell, but talk about misleading numbers. look, you guys want to blame the president, because ceos are taking all of the up side and putting it into their pockets? >> dave: no, he has had a chance to turn the economy around and hasn't. >> instead of rewarding a workforce where the productivity is skyrocketing, i don't understand how you blame that on the president. >>... the worst recovery since 1948. >> we have an economy that is totally dependent on government borrowing and the fed printing money and as john point out, it has done nothing but destroy the dollar and we have no jobs. >> dave: on that happy note, gang, we have to go. one month from today, could decide whether america goes bankrupt or not. what is happening that day? we'll tell you, we report, you decide. qu

. >> rick unger taking up all of these points. you are holding up one side . taking all in account how do you respond. >> i am going to awarted one point to vick toria in the damage to senior. that is an excellent point. steve, the roaring '90s under clinton happened in the first term and he did not lower the capitol gains taxes until the second year in the second term when a republican congress forced him to do it. he did it begrudging. >> it is like the soviet arguing history. the economy slowed down when he put tax increase and not enough to help george bush. and company started to roar . clinton put the tax increases in and we go in a recession nearly. he slowed the recovery down and 95 and 96 it got back on track again. >> emac. i know people dump on bush. but job rates grew under bush. >> that's true. and absolutely, david. and going back to clinton. the '93 tax hike it brought in only a third of what they expected it to be. and the cuts in capitol gains and death tax. i don't want our tax money and warren buffet or george soris money wasted and middle i

we'll in with steve forbes and elizabeth mcdonald and rick unger and john. >> and steve, a qualifier or disquaffer. >> huge qualifier it means that people are trying to get ahead. and that means less taxs and regulation and a sound dollar. romney lived through it and obama has not and why the economy is stalled today. being a capitalist is a qualifier for job as president. >> it is not a disqualifier. i don't have a problem. and equipped with a balance sheet is what it took to be president of the united states. we can grab bernie madoff and let him run for office. bernie madoff was a crook and mitt romney is not a crook. i am not suggesting he is a group. but he is easy with the balance sheet and not qualified to be president. >> romney put it on the table when he talked about how he created 100,000 job in bain capitol. they are not there to create jobs. that is perfectly fine and it is okay to make a profit for the investors, but suggesting that he was a great job creator. he opened the door to the discussion. i don't think that that smart. but he created the situation. it is not on

it we are delighted to have as our guest am a david unger. david is someone who makes a living by expressing opinion. the editorial opinion of "the new york times." he has been on the editorial board of the times for more than 30 years. and if you have ever read a times editorial about the military, foreign policy, or international finance. there is a good chance that david had a hand in it. he has brought a historian straining to journalism, having earned a phd in history from the university of texas at austin, and his provocative new book, "the emergency state: america's pursuit of absolute security at all costs", offers a broad historical perspective that survey is seven years of u.s. security policy to argue that the united states has gone terribly awry trying to make itself save. david's basic point is that the institutions we have built and policies we have established to ensure our national security were originally designed to fight not cmac germany and waged a cold war against the soviet union. they weren't conceived to protect us aga

this were called to the intersection of stanley unger please and mendocino place just before midnight and found a man in his car with gunshot wounds to his upper body. he was rushed to the hospitals where he was pronounced dead. investigators have no suspect and have so far not publicly identified the victim. >>> two suspects wanted for impersonating police officers now in custody this morning after a police chase ends in this messy multicar crash. the chase ended yesterday evening on south dakota avenue in northeast. that is where the suspects plowed their black suv into three other cars sending several people to the hospital. >>> a budget deal struck in maryland's special session in the state capital. it raises income taxes on 300,000 tax payers. the house of delegates passed it by a vote of 77-606789 now, single filers who earn more than 100,000 dollars a year and those who file jointly making $150,000 will pay more. >> income taxes are going to go up. i hate to have to say it but it is only on the highest earners. i hate to say that too because it starts at $100,000 and in this ar

wealthiest nation on earth, i believe the united states has a moral obligation to lead the fight against unger and malnutrition and to partner with other -- hunger and malnutrition and to partner with others. >> at the nato meetings coming up and protestors will most likely meet there as well. demonstrators are gathered just outside of camp david. fox 5's tom fitzgerald reports. >> reporter: fairmont, maryland, population 6,000, but this weekend that number is going up. ahead of the g-8 economic summit this small town in western maryland is as close as anyone who is not invited to catch david will get to camp david -- camp david will get to camp david. >> we're used to presidential visits. they occur all the time. >> reporter: corporal jason west of the frederick county sheriff's office says beefed up federal, state and local law enforcement are ready for any protests. >> there may be more than this. there may be no more that show up. regardless we are prepared for whatever situation arises. >> reporter: so far, though, the protestors have left fairmont's locals unimpressed. >> just protecting

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his wife marion unger is bus. part of your message is get the message out. that is a village. what is it like? it looks horrific. >> it is. it is run by prisoners. and the prisoners that are the bosses in this prison are the ones that have the longest prison terms. this is seniority. there is an average of one month. classified as suicide. people falling under the knives. it is true that you can get anything that you need there with a right amount of money. but part that have is what is dangerous that you can also -- you have to buy your security and the shakedowns are normal there. and jacob doesn't speak spanish. this is another thing he is there alone even though he is with $35 iii,500 people he spends 22 hours a day in a cell. he tries to stay away from everyone. the worst part he is an innocent man. he didn't do anything wrong and he proved that in a court of law. >> in the court when went before a judge, the judge said that he was free to go. >> yes. >> and then within days, they had actually put him back in prison? >> yes. >> what happened? >> we don'

let's turn to laura unger and jake zamanskn. thanks for be here.i'm curious when you think about the regulatory implicatio implications, volcker has not been completely written and we don't know how it will ultimately going to be effectuated, meaning how the fed and sec will look at the issue. how will this change things. >> well, it will certainly raup the discussion around risk and proprietary trading and what it means. but it sounded to me from the limited facts that i know that this was a macro hedge in favor of the economy and the economy has been slipping. and as the trader tried to unwind his position, he started losing money. but in terms of the actual implementation of volcker, i think will they're still sifting through the comments at this point and behind the scenes with the examiners, the banks will start coming up with a plan, a good faith plan of compliance with volcker. and i think they'll begin parsing through their pop trading books and their market making activities to figure out which bucket those activities go into. >> does this