schlesinger. he talks to schlesinger often on the phone and often has breakfast with him. the result, aides say, is that mr. ford is going to have a real appreciation of mr. schlesinger and his abilities. the bottom line of it all is, if mr. ford does become president, he is expected to ask mr. schlesinger to stay on as the chief of the pentagon. and mr. schlesinger is expected to stay. >> if he becomes president ford, his attitude all along has been that, on the economy, he goes along with the chairman of the federal reserve, the board, mr. arthur burns, in believing that one way to bring the economy under control is to cut back very severely in government expenditures, except for the pentagon. he believes in maintaining a strong defense, regardless of cost presumably. >> that is right. now he -- the budget time and time again on capitol hill. one thing that people at the pentagon were talking about today is, they expect the pentagon to have a bigger voice at the white house. they expect more direct contact between the secretary of defense on a face-to-face basis with pre

the store sereported by richard schlesinger. >> reporter: they call him the blade runner. oscar pistorius the champion sax*fouth african athlete who overcame the loss of his lower legs to perform at the highest level on high-tech prosthetic limbs. >> oscar pistorius is going to win t.. >> and now he's called the defendant. >> the stunning murder case against the blade runner. the media track star -- >> reporter: pistorius is charged with murdering reba steincamp in a fit of rage. he claims he shot her accidentally, fearing a home invasion. >> i believed there was a threat to my life. >> his lawyers argued pistorius was suffering from an anxiety disorder. but a court ordered psychological evaluation found no evidence that pistorius was mentally impaired. >> it should be great. will it be a world record? >>reporter: athletes and experts know this kind of mad adulation. >> pistorius has set a world record. >> reporter: can change a person for better or worse. >> you get treated differently. you get more things handed to you, and you have a greater feeling of invincibility, th

all right jill schlesinger, thank you. >> thank you jill. >>> it is 5:42. they waited for hours never got to see this guy. paul mccartney last week. a lot of frustrated fans demanding refunds after all the chaos at the stick. now why the concert promoter says they're not going to get it back. ,, it makes me happy to go on the computer. i like feeling smart. internet essentials from comcast has brought low-cost internet access to over 1.4 million low-income people at home. internet essentials helped me progress in my schoolwork. it helped my grades move higher. today it's the largest broadband adoption program in america. it helped me a lot. comcast. helping to bridge the digital divide. ♪ is launching a new flexible >>> planning on parking in the montclair district in oakland? well the public works department is launching a new flexible parking pricing program there today. there will be four different tiers of parking rates from $1 to $2.50 per hour for prime locations. >>> wild car stunts stopped traffic on oakland streets and freeways over the weekend. th

segment on tuesday about the financial health of social security, cbs news business analyst jill schlesingerndated with viewer questions. >> yeah. we need more, jill back now with answers about a system that's still confusing and confounds a lot of americans. jill, so what were some of the most popular questions you got? >> reporter: first of all, let me thank everybody who wrote. i really appreciate that. if you do have questions about any segment, jillonmoney.com. people still don't know what it takes to qualify for social security benefits. a lot of people asking questions about how long they need to work. you need to work at least 10 years. the age at which you draw benefits varies when you were born. so before 1938, your full retirement age is 65. 1938 to 1960 it rises uncement tally. after 1960, you can retire in 1967. another is whether people should take benefits early. if you have 10 years in the system you can claim as early as 62. but remember, your benefit will be permanently lower. for some folks that's as much as a 25% hit to their income. it could also affect a nonworking spou

okay, cbs news business analyst jill schlesinger, thank you. >>> it is 5:41. of people gathered to say their final good-byes to a missouri teen killed by a police officer. coming up after the break, the new evidence that could be a game changer in the investigation. >> plus, president barack obama giving the okay for surveillance flights overseer just but does this mean military action there? we have details straight ahead. ,, ,,,,,,,,,,,,,, packed a saint louis churchr two aftershocks from the na quake. the first was a magne 3-point-9 at 5-30 a-m cented 2 miles from amer >>> the usgs has just confirmed two aftershocks from the napa quake, the first was a magnitute 3.9 about 5:33 this morning just about 10 minutes ago. that was centered two miles from american canyon and a 2.7 shortly after that and we have had several calls into the newsroom from people who felt all of that rumbling. we are going to bring you any updates as they become available and right now, on the usgs website a third one has been registered at 5:37 which is just a short time ago, 1.9. so

richard schlesinger sat down for some questions and answers. >> i believe in what i call the americanmine outcome of your life. >> he may or may not like to hear this. but paul ryan sure looks and sounds and writes like he's running for president. he's out with a new book "the way forward." the title could be a campaign slogan. the. >> the whole purpose of this book to to say i also don't like the direction the country's going so what leaders ought to do is say, here is how to do things differently. >> it's the store rear of a small town guy with big ideas and his journey from theox to the spotlight. that begins in his ho janesville, wisconsin. >> this is a v problem. >> ryan is 44 now has been in congress for almost eight terms. his upbringing ingansville has become part of his political his book, he talks about having to grow up discovering his father dead in the house from a heart attack. ryan was just 16. >> sort of at that moment i decided that i'm going to either sink or swim. i'm going to step it up, be there for my mom, mi grandma not wallow in self pity because of the un dad.

let's find out from cbs news business analyst jill schlesinger. a warning to all the investors out there. so jill, what is it? >> reporter: well, you know, this is very interesting because as stock markets are rising, there is evidence that americans have not fully recovered from the recession. now, despite those big market gains, a recent report revealed median household income adjusted for inflation was just under $54,000. that's 3.1% lower than incomes were at the end of the recession. now good news, income has ak sell raid in the past three years. hopefully as the economy improves we'll see wage growth. just because the market is going up doesn't mean you're feeling better. >> this current bull market is impressive, though, right? >> reporter: absolutely. the s&p 500 is up 195% since bottoming out in march 2009. it makes it the fourth best bull market since 1928. in terms of both the duration and the magnitude. now, here's the problem. that strength is a little worrisome. we haven't seen a 10% correction in over three years! so this is a frame

. >> at you thought about this in the context of arthur's schlesinger's american politics? >> to the extent there is also richard hofstadter too. is that what you mean? yes. there is a middle narrow to say paranoids and hofstadter's work is excellent but focuses on a particular more limited frame and historical, but very much i think there is a congruency between the two. >>

here is richard schlesinger of 48 hours. >> my eye is drawn to this.o say. >> >> if you judge your books covers to be just a bit blah, then this man can change everything. >> your books are crying out to you from the shelf read me. >> he is to a library what a taylor is to a suit. >> he can custom design libraries tom look like this orwr >> or this. >> i have met painters, i have met people who use all sorts of media, but never books. >> i think that is one of the things that intrigue me is nobody had done anything with books. >> from his workshop in boulder colorado thatcher wine custom tailor libraries all over the country. >> this is a paper book cover it is printed to look like leather. >> he has always loved box and not just for the words. >> when you look at a book, how do you -- i hate to say this but how do you judge it? >> don't use that phrase. >> i probably look at books pretty differently from other people and -- >> reporter: how? >> i look at the whole object really. the cover design, the book jacket design, the proportions of the book, yo

. >> at you thought about this in the context of arthur's schlesinger's american politics? >> to the extent there is also richard hofstadter too. is that what you mean? yes. there is a middle narrow to say paranoids and hofstadter's work is excellent but focuses on a particular more limited frame and historical, but very much i think there is a congruency between the two. >> i recently told a retired american diplomat that i was reading the biography of karl marx, and his -- he said i wouldn't admit it if i was reading it. however, he later listened to me tell him why. i think the panic is in the minority. i think free speech and education makes the difference. what do you think? are you in the majority or not? >> i don't think they're in the majority. if they are in the majority we would be looking at something like germany in 1934. it doesn't take a majority to create a lot of violence and death and destruction and payne. education up to a point is a factor, but some very highly educated people have expressed very panicked thoughts. maybe they are availing themselves but

. >> cbs news business analyst jill schlesinger says investors should stick to their game plans and not let's motions take over. she's across the pond for news london. jill, good morning to you. >> or good afternoon, i guess. >> yeah, yeah. >> reporter: yes, this is great i good it to sleep late here. >> jill, there does than the seem to be as much celebrating of these new records why is that report report you know, everyone likes to see retirement accounts rise but there is evidence that many americans have not fully recovered from the recession yet. so despite stock market gains a recent report reruled that median income for all households when it adjusted for inflation was just under $54,000. that is 3.1 percent lower then incomes were at the end of the the recession. now little bit of the good news incomes have accelerated in the past few years so as the the economy improves we should see better wage growth. >> current bull market is impressive though, right? >> reporter: oh, absolutely, s and p500 has rallied get this about 195 percent since bottoming in march 2009. that makes it t

. >> cbs news business analyst jill schlesinger has the store friday new york.e has answers about the problem and program that still confuse's lot of people. jill, what are the most popular common questions. >> i got dive bombed with e-mails after our segment on tuesday. people still don't understand what it takes to qualify for social security retirement benefits. so let me remind you, you have to have work at least ten years, okay, buthhe you can draw benefits it varies and that depend on when were you born. were 1938 your full retirement age is 6 rises incrementally. born after 1960 the age is 67. the other big question that i have been receiving is about whether people should take their benefits early. now assuming you got those ten years in the system you can claim benefits as early as age 62 but remember, big caveat there the benefit is permanently lowered for the rest of your life. for some folks as much as 25 percent less and that could also affect a non-working spouse who is planning on claiming half of your benefit. on the other hand if you delay your

cbs analysis jill schlesinger is here. good morning. why has it gotten harder?this is just your housing costs. about 30% attributed to housing. there's food education. i'm really preaching to the choir to parents. you know all of these expenses. >> yeah. >> they do add up. and what's pretty remarkable is that as these expenses have increased there are some areas that have gone up way more than others. health care has doubled. and we noticed child care costs up dramatically as well. >> and are those long-term trends continue ogg on that same path? >> well they are long-term trends that we've seen. because if you look at health care we know those costs have gone up dramatically. let's go back to 1960. right we go way, way back. and we say what was the cost of health care then? it's doubled now. then we look at the child care costs which have gone up some 2% back in 1960. get this it's now 18%. so that's why, if you look in today's dollars the cost of raising a kid in 1960 $200,000. that's 20% less than today. part of the problem is that household income has actual

despite the advice of kissinger and schlesinger, he said let's get as much as we can, material to israeled israel. that laid the basis for the camp david accords, as low one and oslo two in even december of 2000 by decisions he made, support israel but save face for sadat. that laid the basis. >> did he ever look back and say anything to you, just looking back atwater gate and say why did i do that? >> no. it was -- clearly mistakes were made. if there's any moral that comes out of it, make sure you have next to you a good counsel, a wise counsel, not the first discussion on the tapes there. his counsel wasn't helping him there. his counsel is the person to say, mr. president, you can't do this and make that opinion stick. that's what he didn't have. if he had that good counsel next to him, it would have been a different outcome. >> ed cox, the son-in-law of former president richard nixon, thank you for being here. >>> what sets michelle obama apart from hillary clinton? we'll have the answer straight ahead. we never thought we'd be farming wind out here. it's not just building jobs here