the pacific rim the treatment to transfer to the partnership or to the people agree trying to congress well during sleep very kind indeed the knowledge of such much with the president is a tough from the alternative the terrorists would see should secure its funding the rabbit down the hole cut the budget cuts a bit of it by coming out of this treaty and but it didn't need to do because they could never see the cuts of it but something else came to the engine back. because the chinese tire minister not to dismiss the focus enough yet. this week at radio one the to point out some suspected in a new movie program discovered the signing into the studio side it was. totally bad for you bill but if you treat legit why can't we know the facts and that it it is strange that it's being negotiated behind closed doors away from reporters and cameras we look for the failure that people are just too damn attached to their sovereignty intact meaning we have to be in secrecy that speaking of us secrets have you found it would snow to trade or to do that we're there to try to rush the functions like that

somebody in the pacific rim treatment to transfer to the partnership or to the people agree trying to congress well during sleep very kind indeed the knowledge of such much with every citizen from the alternative media coverage would see should say care is funded the rabbit down the hole somebody gets a bit of it spike up to twenty years but it seems to become a conspiracy that took it like something else into the engine back up live in power because the chinese tire minister but he dismissed the guy because the focus you know b.s. . it became a deal like the to point out some suspected in a new hollywood movie program just to get the signing into the studio side it was. totally bad trying to build it and the treaties legit why can't we know the facts and that it it is strange that it's being negotiated behind closed doors away from reporters and cameras but we look for the failure that people are just too damn attached to their sovereignty intact meaning we have to truly be in secrecy and that speaking of u.s. secrets have you found it would snowden the trader who defected we're going to try to ru

support of somebody in the pacific treatment transpacific partnership or to the people agree to congress well the story put to sleep very kind indeed the knowledge of such much keep up with the president is to be from the alternative media coverage once he should say care is funded the rabbit down the hole the budget cuts a bit of this coming out this week yes but it seems to me to become a conspiracy that took it like something else into the engine back to midnight because the chinese tire minister maybe just maybe they got the focus enough. this week at radio one coming up pointing out some suspected in a new hollywood movie program discovered the signing into the suicide of oh. totally but it's true you go back to the treaties legit why can't we know the facts and sit it is strange that it's being negotiated behind closed doors away from reporters and cameras we look for the failure that the people are just too damn attached to the internet that there might be sovereignty intact meaning we have to be in secrecy and that speaking of u.s. secrets have you found it would snow detroit or the d

prosperity in the pacific rim the treatment to transfer the partnership to the people agree trying to congress well the during sleep very kind indeed the knowledge of such much with every citizen from the alternative the temperature in secret security fund of the rabbit down the hole somebody gets a bit of it by cutting out this tweet yes but it seems to me to become a conspiracy that tempted by something else into the engine back up live in power because the chinese tires have been a tsunami dismantling the focus enough. it became a deal like the to the point that some suspected in a new hollywood movie program just to get the signing into the studio side it was. totally but it's true you go back to the treaties legit why can't we know the facts and sit it is strange that it's being negotiated behind closed doors away from reporters and cameras we look for the failure that the people are just too damn attached to their sovereignty intact meaning we have to be in secrecy and that speaking of u.s. secrets have you found it would snow to trade or that we're going to try to rush the functions like tha

because she's going around congress the way the president is going around congress. >> well, you would. and you heard congressman gowdy suggest some ways that they might. but if the executive branch can really go around congress to get its own funding for these programs, it's really kind of an alarming extension of executive power, and a sub version of the way the separation of powers is supposed to work. >> you're a law professor. what do you think of the power grab and all of the executive orders? although they say this person hasn't used as many as others, do you think that these are different? >> i do. so it's -- >> how? >> well, it's not a matter of a number of executive orders, there's nothing wrong with an executive order in itself, but these executive orders are flatly inconsistent with statutory text, with what the acts of congress tell the president to do. perhaps the clearest example is the suspensions of obamacare. so the statute could not be clearer about the date when it kicks in. and the president has on his own motion says he's going to enforce it a year later, and now

reading your book "upheaval" the should be required reading for the president and all members of congress. wellone. lou: contact us on our social sites. lou@loudobbs.com follow us on twitter and go to the facebook page. free copies of "upheaval" to all offers of the comments we read on the broadcast. have a great weekend. good night from new york. y diculousness.. from fashionhat flies off the shelves. and you...rent from national. because only natnal lets you choose any car in the aisle... and go. and only national isanked highest in car rental customer satisfaction by j.d. power. (natalie) ooooh, i like your style. (vo) so do we, business pr so do we. go national. go like pro. iprise asked people a simple question: in retirement, will you outlive your money? uhhh. no, that can't happen. that's thing, you don't know how long it has to last. everyone has retirement questions. so ameriprise created th exclusive.. confident retirement approach. now you and your ameripise advisor can get the real aners you need. well, knowing gives you confidence. start building y your confident retirement today.

finished reading your book "upheaval" the shou be required reading for e president and all members congress. wellou: contact us on our social sites. lou@loudobbs.com follow us on twitter and go to the facebookage. free copies of "upheaval" to all offers of the comments we read on the broadcast. u have time to shop for car insurance today? yeah. i heard about progressive's "name your price" tool? i guess you can tell them how much you want to pay an gives you a rangef options to choose from. h? i'm looking at it right now. oh, yeah? yeah. what's the... guest room situation? the "name your price" tool, making the world a little more progressive. i ke prilosec otc each morni for my frzero heartburn.n. becat wohoo! [ male announcer ] prilosec otc is the number e doctor recommended frequent heartburn medicine for 8 straight years. one pi each morning. 24 hours. zero heartburn. il: it's friday. do you e the republican ngressman is? they seem to be -- on the debt ceiling. now on hittingthe rof. they're focused on winning later this year they given up the fight to reign inspending at all this year. a $1

how important is it for congress to resolve the issue for the economy? >> well, here is what i think. it is unclear about how the debt limit generally affects people. it could raise interest rates. there is never a good time to threaten not to pay u.s. bills. but at this point we have got an economy that i'm describing as like humpty dumpty. it could go over the wall. we have seen some weakness in this economy. it is totally irresponsible for congress to be the entity, the body, the force that will cause our economy to call down again by leaving this matter unresolved. so, i think it is -- you know, americans are uncertain right now. they are looking to congress to say can you please not hurt the economy. it would be nice to help the economy. so, i think we are in a tenuous time this is a bad time for this debate to be coming up again. >> we both will be watching. thanks very much. >> we will have live coverage of the jobs report tomorrow at 8:30:00 a.m. eastern time here on al jazeera america. >>> leading republicans say don't expect much progress on immigratio

. >> but what does this mean as far as aipac's level of clout with the white house and congress? >> well jane, it does not mean that aipac has lost any real ground. however, it now is aware that it is not the only game in official washington. there is another organization called jstreet that has taken a much more liberal or progress tack on us-israeli relations and has been able to find allies here on capitol hill and within the white house. there is more of a willingness to give other people who say that not everything that israel does should be accepted without question; that honest discussion can lead to a stronger relationship, and so that's part of what is going on here; that there's now another lobbying organization that has been exerting its muscles. it doesn't mean that aipac isn't an organization that members of congress in particular can afford to ignore, but what you see here is perhaps a morrow bust and more complicated discussion about u.s. support for israel taking place here in washington. >> okay, rosiland jordan reporting there. >>> in in iran it's cold weather rather th

my voice both within congress and because i have a national platform of some kind outside of congress as well to use whatever power that i have in terms of audience nationally to talk about these things in a way that makes more people wake up and more people ask their congress people and their candidates around the country what of what's going on with these drones i don't think the average person even realizes abbi the power of these things they will they can know who you slept with what you just logged onto on your computer what room you just walked into and they are coming and you know the same this same government that has had to it been forced to acknowledge in a state spying tells us in relation to drones not to worry because they are going to have to adhere to all privacy laws state federal and local americans who listen to this are god following we just need to to continue the buzz it's like you create with your show a lot of voices are out there now i think something's already rumbling and i just believe that these voices need to also be represented in a less ok in a city like mine so

and we have now what is called an administrative government in which the congress as well as the intent of congress to do so-and-so passed on to some agency and the agency makes up regulations and rules that become law and if you violate that, you're against the law. that's wrong. it should go to the congress. we have a whole system that is wrong. >> i have to go because wayne has agreed with juan in two of the three blocks so far, we're going to have to leave it there. my head is spinning. thanks to michelle fields and juan williams for joining us this week. >>> coming up snowed in and sick of it. hey, global warming crowd, i got a message for you and you're not going to like it! then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old. i'm going have to rethink this thing. it's hard to imagin how much we'll need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement. ♪ >>> what do i need to know

and we have now what is called an administrative government in which the congress as well as the intent of congress to do so-a-so passed on to some agency and the agency makes up regulations and rules that become law and if you violate that, you're against the law. that's wrong. it should go to the congress. we have a whole system that is wrong. >> i have to go because wayne has agreed with juan in two of the three blocks so far, we're going to have to leave it there. my head is spinning. thanks to michelle fields and juan williams for joining us this week. >>> coming up snowed in and sick of it. [ female announcer ] who are we? we are thinkers. the job jugglers. the up all-nhts. and the ones who turn ideas into action. we've made our passions our life's work. we strive for the moments where we can s, "i did it!" ♪ we are entrepreneurs who started it all... with a signature. legalzoom has helped start over 1illion businesses, turning dreamers into business owners. and we're here to help start yours. turning dreamers into business owners. (vdiculousness...siness pro. y from fashionhat fl

they should be embarrassed at the fact they are the least productive congress in the history of the country. >> yes, welle the most reasonable person in the room. he's fighting congress because he's trying to close the income gap, trying to get people back to work, trying to create jobs, trying to get them health care, trying to do all the things that the american people sent him to washington to do in 2008 and 2012, and yet the message still hasn't gotten to congress. >> well, hopefully they'll get it. if they don't, he has his own message. jonathan, thank you so much. that does it for me. you can find us on facebook and tweet us @msnbcdisrupt. i'll see you back here next weekend at 4:00 p.m. eastern. until then, have a great week. you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪ i just served my

americans, that means you, think about president obama's threat to use his pen and his phone to bypass congress well according to the latest fox news poll 74% of you think a u.s. president using executive orders to get around congress is not how our government is supposed to work. the poll also showing when asked to set aside the views on how the government is supposed to work. 60% disapprove of president obama using executive action to go around congress. joining us our political panel, washington examiner chief political correspondent byron york. the hill's elise viebeck. what do you think of these numbers? >> i don't think it's a surprise at all. remember the "the washington post" poll last month that found 63% of the people said they did not have confidence, little or no confidence and palm to make the right decisions for the president's future. why would those people then want him to take unilateral actions? the other thing is people really don't like unilateral government. when -- in 2008 when the voters gave the whole will government to the democrats, in 2010 they turned around and took part

>> well, my predecessor, chairman bernanke, routinely advised congress to address long-term budget deficit issues, thought it was critical, as i do, to the long run well being and functioning of this economy. but to avoid cuts in spending or increases in taxation that would diminish the ability of the economy to recover. so there are ways of addressing long-term budget deficits and wouldn't weaken the recovery, and i share his view. >> thank you very much, mr. chairman. i yield back. >> gentleman yields back. that chair now recognizes the gentleman from new mexico, mr. pearce, for five minutes. >> thank you, mr. chairman. thank you, chair yellen, for being here. congratulations on your nomination. >> thank you. >> one of the articles refers to you as the champion of main street, and i think it's a senator brown of ohio says she will be a fed chair that gets out and sees the real economy more and talks to people. i had submitted a request for mr. bernanke to come to the district, and we would host a town hall together. i am still waiting on pins and needles for him to answer. maybe i'm givi

vote for it well congress women aren't going all women aren't going to vote to change a system whereby they're currently getting elected that's the problem with reform the people who have to pass the reform or the people that are in power because really no reform. you recently said that you thought. that president obama was hated i think there are some people who are so forward rosebel i know was hated and yes circles no i do think is racial i think for some people it is and you know we can't be naive there are there are people that just can't accept the fact that we have an african-american president obama's sure some people like him because he's so yeah and that's yeah i don't think anyone really disagrees i'm not saying overwhelming number of people don't why is he hated it's not rational and i think it is because of that race because they just don't think people ought to meet that just think about it when have we ever had a president well he's not one of us he doesn't he's not an american citizen he's not

investigation -- and i know you said the office -- should congress try to test this and see if they have authority so that basically members don't escape? >> well this is my defense lawyer speaking, leaving congress is no small matter. to the extent that someone motivated, stimulated to leave congress because of an ongoing inquiry, that's a fairly dramatic act of -- >> shurks keeping the benefits, might be keeping their pension. shouldn't congress have the ability to investigate an exmember and perhaps penalize them on the pension, you know, something like that? >> there are laws now if you are convicted of certain high crimes and mismeans like bribes and gratuities, you can forfeit your pension. the types of things that have been the subject of ethics committee complaints, the code of conduct, has generally not been viewed as rising to that level. >> it is interesting to me that a lot of the ethics investigations stem from misuse of campaign funds. and these days, it is sort of hard, i think sometimes, to figure out what is a political expenditure, what is a government expenditure, what is a personal expenditure. do we need more clarity in the

and to work with congress as well. adoptions that congress can live with. that? think they can do if not, what happens then? >> we have been in touch with that group and land on meeting with them to give our input on how to move forward. are computer scientists, government officials, and others who think it is feasible to shift to others and be as feasible as it is today. we hope that will be a solution. our program and the statute underlying it expires in june of next year. does not act, the whole program will go away. collects you do not think there is enough support in the congress? >> i cannot predict that. a lot of members of congress have raised concerns about this program. be an approachll of stopping metadata collection of americans, shifting that to a more privacy protected, more focused approach. keepingaid you think this data in the hands of the phone companies, either with the current retention requirement or something a little bit longer, would be as effective and efficient as the way the system works now. how effective and efficient is the system? t

melissa: you're depending on congress. wellplease come back and let us know how it's working out. >> thank you very much. >>> coming up. she better aside. brittany better watch her back. there's a new headliner steam rolling through las vegas. and he means business! it is all coming back to us here on money. meat loaf is next. at the end of the day, t all about money. ♪ ♪ ♪ ♪ melissa: of course you know who that is. meatloaf one of the best-selling artist of all time. this month he returns to las vegas with his rock tails and cockkails live show. a portion of the ticket sales are going to help music program in las vegas school. joining me now is grammy award winning actor and artist meatloaf. welcome to the show. >> thank you very much. it's my pleasure to be here. melissa: i've got to ask you -- >> i'm on fox business. melissa: yes you are, damn it! the -- for whatever reason. i feel like you have an opinion about the marijuana segment. what did you think about that? good idea, bad idea? legalizing marijuana? >> you know, i do

johnson pursued kennedy's economic proposals and pushed the tax plan through congress. how wellperfectly. business week, which isn't exactly a liberal pro-kennedy publication, said it probably was the most successful tax cut in history. it came out of the textbooks. it went back into the textbooks as the fiscal measure that came closer to carrying out what people had projected for it. that was a tax cut that worked. the economic policies of the kennedy-johnson administration had stimulated demand, creating growth in the economy. business was booming. jobs were plentiful, unemployment near an all-time low. but many observers, including the president's council of economic advisors, were concerned about the appearance of inflation as the economy heated up. [james duesenberry] but in 1965, the real aggregate demand was rising at an annual rate of nearly 8%. it was continuing to rise into 1966. that produced the high-capacity utilization, the ring raw materials prices, and the decline in unemployment accompanied by labor shortages. many economists felt a tax increase would take money

and political demands that he faces from congress? >> wellms to me that his focus on getting the fighting stopped and get something political process under way in the right one. my own advice would be we better find a mediator or a group of people who can bring the sort of stature to ukraine to bring the opposition and the government to the stable. >> who would that be -- >> to get some kind of negotiation. >> well, my own candidate that no one seems to talk about osce. they're the chairman in the office, the swiss, they have performed these kinds of functions in the past. and they inclusive of all the nations of the euro atlantic region, including the united states and russia. that, to me, is a pretty good start. >> all right. cam bass dore james collins, i wish we had another ten minutes. so informative. thank you for your perspective. >>> coming up, we're going to talk about the president's week with our power panel. and get their take on governor chris christie still taking questions from constituents. 70 minutes. no questions on the lane

and we have now what is called an admistrate government in which the congress as w well as the intent of congress to do so-and-so passed on to some agency and the agency makes up relations and rules that become lawnd if you violate that, you're against the law. that's wrong. it should go to the congress. we have a whole system that is wrong. >> i have to go because wayne has agreed with juan in two of the three blocks so far, we're going to have to leave it there. my head is spinning. thanks to michelle fields and juan williams for joining us this week. >>> coming up snowed in and sick of it. whata' beenreadingbraydon? how old are you? three and you can read? yes let's see pictures, pictures, pictures, pictures there's a boy riding a bicycle into the forest you can read too grandpa! (laughing) ♪well it's always better when we're together♪ ♪yea it's always better when we're together♪ >>> what do i need to know f next weekend, wayne, first. >> take a look at h-o-l-i, i'm hot on the technology stocks in this market. >> thank you very much, wayne. how about you, jonathan, what are you wea

where they ear not trying to in that moment desperately solve an incredible crisis created by congress. >> wellthink you're right there. i think there should be good lines of communication. i think it's terrible every time house speaker john boehner talks to the president, he has to go back to his caucus and make it seem like he had an argument with the guy. half his caucus doesn't like the idea of civil conversation with this particular president in the white house. so maybe that was a bold, brave move on the part of john boehner to sit down and be civil with the president. but i still look at the agenda they put out and also the agenda that exists in washington now. and i see very little room for any -- you know, for productive conversation, for real movement. and i think that's largely because, you know, boehner doesn't have a party to really represent in terms of negotiations. representative camp is going to put out the tax reform plan tomorrow, but before he even does that, mcconnell today said is tax reform is dead. >> ezra, can you quickly run us through tax reform? i know dave camp was

paul ryan said he's doing the work of congress. well, that's because congress isn't doing its job.ourage the president to encourage doing executive orders. we're going to meet with him tomorrow as a caucus and i hope his position like that continues. it's clear that republicans are not going to work with him. >> i want to dig deeper into executive orders because republicans are taking issue with president obama using those powers. here's house majority leader eric cantor. >> the white house continues to really thumb its nose up, if you will, at the congress. the president in the state of the union address did it flat out. he said, when congress doesn't work with me, i'll just go do it myself. and again, that's part of the problem in this town. >> you heard what the congressman said there. does he have a point? is there more the president could do to reach out to republicans? >> you know what, i don't think he has a point because i think the president has bent over backwards for five years attempting to work with republicans. even taking their ideas and putting them forward and then

congressional showdown over something like the debt ceiling, he's in a much better place and so is the congress. >> wellere's really no tangible contrast between democrats and republicans on obamacare as far as the policy because the republicans haven't put forth a significant set of policies to fix obamacare just yet. the key is with boehner and the republicans, they know from last fall how bad they looked in the polls coming off that debt fight and the government shutdown, and they knew they couldn't repeat it. they know that everything rests on their ability -- >> still going to vote for. it still had a caucus saying we want to do that again. to say that while they have learned their lesson -- >> basically they did. >> the leadership did, right? >> it was politics 101. boehner said i'm not going to go down with this small tea party minority in my caucus just to lead us to another government shutdown. i'm not going to do it in a mid-term election year. we have good enough numbers of doubt and questions among the electorate around obamacare so we're going to campaign on that. they are not going to touc

>> well, we put into effect the allowance that congress included in dodd-frank to exempt treasury securities. >> well, no, that's treasury securities. i'm asking about sovereign debt, which was excluded from the volcker rule. written into the language of dodd-frank is exclusion of u.s. sovereign debt, not the exclusion of other sovereign debt. i would call this a lack of enthusiasm from you. >> time of the gentleman has expired. the chair now recognizes the gentleman from massachusetts, mr. capuano, for five minutes. >> thank you, chair. thank you for being with us today. i have a couple different areas i'd like to pursue. in your confirmation hearing, you made a comment, at least it's reported you made a comment, addressing too big to fail is among the most important goals of the post-crisis period, which on some levels i would agree. though i happen to think we did address a fair amount of it. i also accept chairman bernanke once said, which is reality is in perception. the perception is we haven't done enough. therefore we have to do more. i'm just wondering if you have any thoughts on ho

and that is that is constitution also applies to congress as well as the president. what's going on right now is that a minority of the congress is using its obstructionist powers, which are quite considerable as roger points out to actually try to shut down government. that's really what was going on in the case of refusing to confirm appointees to the national labor relations board so it didn't have a quota so it couldn't do its business. they were trying to shut down the government. and in those circumstances, it's up to the president to make sure that the government doesn't get shut down. that is actually exactly what the framers foresaw that the president should have the means -- the constitutional means of self-defense to do to prevent encroachment by the legislative branch. and that's also in federalist 51 and in other federalist papers. so i think we have a president here exercising his authority just as the framers intended for it to be exercised and very much in the interest of the nation. guest: no one wants to shut down government. we simply want to bring

there is still supposed to be an affirmative vote of the current congress. wellwe understand this is the ruling class involved here and we don't want to have to take tough votes of this is why we do but let's look at how far that has been expanded. we have gone from automatic social security which is set by rule by congress. we now have the affordable care act which is entirely an entitlement. so let's think about the insurance subsidies. we really don't know how much it's going to cost so we will set the rule of how much the individual has to pay and then we have an unlimited not constrained by any known economic area bull funding every thing on top of it as entitlement. well, i can sort of see tangentially how that might be -- but we also have another entitlement that shows how far we have pushed this concept of no need for congressional appropriation. it's the risk quota. so here we have congress not even saying how the risk quarter is going to be funded and entirely be made up like presidents and at the end discretion of the president. we have this nondiscret

well i think it's a relevant i would advocate for most members of congress having not much more time in office because the people are ready for a huge change there's a shift in the american awareness and the polls are saying very strongly that it's time you know to replace every member of congress and democrats republicans alike john john f. kennedy wants you know let's not seek the republican answer or the democratic answer but the right answer and the right answer is a lot of independents are going to be running for office i want to actually get to that a little bit later but as i understand it in two thousand and twelve then senator jim de mint proposed a similar amendment that would place limits on how long members of congress could serve the senate overwhelmingly rejected demands measure voting seventy five to twenty four against it so is there any reason to believe a term limit bill would pass now in two thousand and fourteen considering the state of congress today. well term limits the way i look at it they don't even really help us because people who run for office if they're

believe a term limit bill would pass now in two thousand and fourteen considering the state of congress today. well term limits the way i look at it they don't even really help us because people who run for office if there are term limited out they just run for a higher office or even a lower office so it's another trick and thinking that this is going to help fix things when in fact it's the people in office that are making these a may not good laws and making it just are not steering our world in a good direction right now we have way bigger issues than term limits you know like election fraud the media lisa simply voter fraud is an issue it's really not selection fraud we have you know the close. close source software and and all these different things to gerrymandering to the electoral college and so on and we the people will rise throughout the united states of america in the world to take our government back so these issues are so really not that i'm. a distraction christine i do want to ask you about something that durbin has said in two thousand and twelve when the senate was voting on this

congress is having a bunch of hearings on this. there's a lot of hot air in washington on this topic, but are they going to do anything? >> reporter: wellcongress as it often does in the situation, you're right. they hold hearings, issue press releases, release bill and show the constituents they're working on the problem. as you note there are more hearings tomorrow. it is an election year. they are likely doing less than it did last year. it can be a difficult political sell this issue. you're calling for increased regulation for retailers and considered company -- credit card companies. as long as there are no more major breaches this year perhaps it is dice down. if you get another one there could be greater call to push if through. we're right on the edge on this one. it might be slow enough they won't get done. gerri: i don't know if you can count on not having anymore breaches. i don't know. >>> well, our next guest actually testified at today's hearing talking about solutions protecting consumers' bottom lines. a policy counselor for union. i saw you testify. you were dynamite today at that hearing. great job. i want to talk to

>> it is a possibility that congress could consider as well. >> would that help the policy that congress can't reach? there is more that congress can do depending on what congress's priorities are. >> thank you. >> gentlemen yields back his time. i want to thank chair yellin for her generous cooperation with this committee today. we thank you for your stamina. you may have to use it on thursday as well. i understand that you will be appearing before the other body. again, we thank you for your testimony. we will excuse you at this time. the chair will declare a five minute recess coming up next the house debate and then we hear from janet yellen. a look at the privacy and civil testifying ond government surveillance programs and data collection. that is on c-span. i think every first lady brings their unique perspective to this job. if you did not, you could not live through it. i think, to the extent that this came natural to me, at any level, i would never thought that living in the white house would feel natural, it is because i try to make it me. i tried to bring a little bit of mich

has the run of our entire economy. >> well, this is an exemption that has been granted the federal reserve that's central to our independence for decades by congress and -- >> we've changed a lot of policies trying to make it more transparent and accountable. i'd like to think that government gets less corrupt every day, not more corrupt. >> well, i don't believe that the federal reserve is in any way corrupt, and i believe that the confidence of markets in the federal reserve and in our monetary policy making would not be enhanced by that type of audit. >> by knowing -- by historically being able to audit things that every other agency is subject to review for but you should not be -- let me get over to baso 3. starting in 2003 the recovery ratio will require enough banks to have net cash outflows for 30 days. the problem is that baso 3's definition includes the solve voern debt of countries like portugal, ireland, italy and spain. don't you think that that's like leading sheep to slaughter? >> well, we have designed a rule in the united states that would have stricter definitions to minimum. >> so you think that that's not the same as rating age

a big moment for the president and republicans in congress as well if this issue is taken up the table before the deadline. >> you mentioned the 60 votes. there is the texas editor ted cruz. he says there is a problem with this and may try to drum up the works. works.up the >> he objected effectively to the legislation getting a simple majority, up or down vote. this is just a procedural vote, so that is why we have to clear the threshold. ted cruz is opposed to this. if he thinks this legislation should come with some strings attached to do with the larger -- atnd deficit problem, the end of the day, john boehner decided it was better to fight in the midterm election over other issues like obamacare and the economy overall. that is why he effectively through in the towel in the house. the question is how many republicans will join democrats in the senate. is atl us exactly what stake for both parties in this debt ceiling debate. --y do not want a recall replay of the fall, do not want a government shutdown. americans by and large blame republicans of the partial shutdown of the govern

>> the possibility congress could answer as well. >> would that help stimulate the economy in a way that maybe monetary policy cannot reach? >> certainly we have a set of tools that are limited. there is much more that congress can do, depending on what the priorities are of congress. >> thank you. >> the gentleman yield back his time. i want to thank chair yellen for her cooperation, generous operation of the committee today. >> we also thank you for your stamina. you may have to use it thursday as well come as i understand you will appear before the other body. again, we thank you for your testimony. we will excuse you at this time. the chair will do clear a five-minute recess pending the seating of the next panel. the committee stand in recess. >> on c-span this morning, u.s. house debate before the boat -- vote to raise the debt ceiling. live at 7:00 eastern, washington journal. wednesday we are live from the british house of commons for prime minister question time. this morning, members of the privacy and civil liberties oversight board testified before the senate judiciary to many

congress. i will turn over the charlie. >> thank you. [applause] >> well, thank you, diane, for that generous introduction and thank you all for inviting this year. for me speaking to a room full of economists is like social climate. i am one of the few people that can say that. i look around and see a number of friends. anyway, in washington -- most people, like, live here. they watched politics like it is sports and watch individual races like their fantasy football or rotisserie baseball is something. and i am sure they find it entertaining. i think i used to feel that way, but then, you know, less so these days. what is really important? i think the governing configuration after this election and what his 2016 going to look like? and at least for this next election -- into a certain extent for 2015 and 16 you can make for assumptions. number one, the house is going to stay in republican hands, and you can put a number. ninety-five, 90 -- at 99%. well, whenever. ninety-eight. what the hell. extremely high probability of the house was a republican, numbe

these are not likely to stay well for congress who don't want to be seen taking a i way military benefits. they hope to save millions of dollars in the bent gone budget. the a-10 was designed to take out soviet tanks and are seen as obsolete in today's security environment. the triple trimmed down military would no longer be able to fight two major wars at the same time. it would night one while trying to maintain a second until it was necessary to fight it. some fear it could harm national security. they are planning to fight back. we will come back to you. >> steve sent any live for us, thanks. >>> dale ernhardt why are is ta -- dale ernhardt, jr. is taking a victory lap. >> he snapped a 55 race losing streep to capture his second daytona 500. >> trying to explain what that feeling is to people. i have been trying to tell people for ten years what it felt like and it is hard to put it into words what winning this race really means to you. >> there was a rain delay and they aired last year's race. that's when jimmy johnson says he was inundated text messages offering him congratulations.

>> did president obama try to go around congress, try to rally the public, and then get congress to exceed? >> well, he's lost leverage, so he doesn't really have a lot of choice. the healthcare law rollout was really such a big disaster, but he's not in position to try to force congress to do anything and use pressure that way. so he's got executive order as an option. but even those ideas, like pat said, small ball. even the minimum wage increase he's proposing for federal workers is only going to touch a fraction of people. most already make above that level because of other laws in federal government hiring. it's not going to do anything for the rest of the population. job training. that's something the republicans have already put on the table in congress. democrats have rejected. some of these other initiatives really are small ball. notice immigration reform. he said very little, because he knows the republicans are already working on that. that truly, as eleanor said, would probably be his biggest victory if anything like that is accomplished this year. otherwise, i think you are right at t

that student debt places on our college students and our economy and call on congress to address it. the core facts are well known to every family in america. in recent decades, college costs have skyrocketed. adjusted for inflation a young person today pays 300% of what her parents paid just 30 years ago. millions of young people, the only way to cover this tuition cost is to take on huge debt. the average student loan balance among 25-year-olds who borrow has grown by 91% in just ten years. total outstanding student loan debt stands at a staggering $1.2 trillion, and it's getting