there is a huge part of america that is not parsing john cochran or paul krugman or you.esperate for wage growth. when you look at a classic i slm classic monetary theory, econ 101, which you teach wonderfully, how do explain the real economic effects that we have now? how do the fold into where is the wage growth? >> how do i think about the lack of wage growth? >> yeah. >> we have not had a sustainable recovery yet. that is why we need to pursue further stimulus. >> can the fed generate economic growth? >> i think certainly with the right monetary policies they can. to talkry premature now about hiking in 2015. >> it is our twitter question of the day. are you more confident today than you were five years ago? thank you so much. tweet us. >> good morning, everyone of them ruble much stronger. if you are in russia, what do you do with it? in the last hour, oil has given it up. on west texasw intermediate. it's "bloomberg surveillance." >> oil sterling to hold its gains at this hour. earlier this morning, prices were moving higher for the second straight day. saudi arabia

let's bring this forward to the arts debate between paul krugman and john cochran -- they totally disagreen one of the great themes this year is where is the info structure spending? structure spending a keynesian program or just common sense? >> i think it is common sense. the founding fathers did give the government the right to build coastal roads. -- postal roads. i am just playing devil's advocate here. of the big problems i think in economics, and this is financial, not academic, if you can, cigarette, it is like supreme court cases. i can to you was someone is going to say about a certain subject before it even comes out of her mouth. >> absolutely. feels like freshwater economists and saltwater economists figuring out who gets the credit for the u.s. and u.k. ofpaul krugman, who is one the most respected -- and i read him all the time -- he wrote a blog post called jean-claude yellen recently saying that the fed is going to make a policy mistake by raising rates next year, but he also believes that my third policy has almost no effect at the zero lower bound. the new fed, the new p

john. >> he said that, but i think that was his sales pitch. >> reporter: who's next. >> barbara cochran.favorite christmas gift. >> reporter: a brother and sister team from brooklyn, new york. pipcorn popcorn. >> it's delicious. all-natural and you guessed it, mini. >> that night, they took three employees, converted to ten employees, and they'll have at least 30 employees this time next year, because their business is booming. >> reporter: two more waiting. >> hey, how are you? >> reporter: you got your one thing. it came from these parents. >> the number of times women say, show me every product not made in china. >> this is one of them the child will drink the juice down to the last drop. >> it's true. >> reporter: they can make 5,000 cups a day. last but not least. >> hi, david, lori greiner from shark tank. >> reporter: her one thing -- >> check this out. >> reporter: he's showing us what's inside. >> it's a bed inside. >> reporter: it's selling. >> might be the ultimate gift this holiday season. >> they slapped it with a big sold out sign. >> reporter: tonight, five sharks, five id

cochran. the last one who is just retiring from the house, john dingell, and 12 members of the public. senator domenici, who may join us later, was on that commission. but in the end, the commission could not reach consensus. instead, its final report was a compilation of competing proposals. but the two cochairman advance their brave proposal as it related to social security, raising the retirement age to 70, a cut in the social security payroll tax with the money redirected into mandatory private accounts and adopting price indexing among other changes. although the group was not able to agree to any policy recommendations, the commission found budgeteers to be a milestone in forming policy for the future of the nations policy. i can also make the argument it is even more difficult today than it was 20 years ago. i will now turn this over to my friend and fellow colleague bob bixby who i have labored with in these vineyards for many years. he served here at the bipartisan policy center on the debt reduction task force that i can say did reach consensus in 2010 but none of them were e

cochran. the last one who is just retiring from the house, john dingell, and 12 members of the public. , who mayi us later, was on that commission . but in the end, the commission could not reach consensus. instead, its final report was a compilation of competing proposals. but the two caret -- the two cochairman advance their brave proposal as it related to social security, raising the retirement age to 70, a cut in the social security payroll tax with the money redirected into mandatory private accounts and adopting price indexing among other changes. although the group was not able to agree to any policy recommendations, the commission found budgeteers to be a milestone in forming policy for the future of the nations policy. itan also make the argument is even more difficult today than it was 20 years ago. i will now turn this over to my friend and fellow colleague bob inby who i have labored with these vineyards for many years. he served here at the bipartisan policy center on the debt reduction task force that i can say did reach consensus in 2010 but none of them were elected officials at

serving the majority, current majority leader, harry reid, anded that cochran, 10 congressmen, the last one who is house,tiring from the johnll, and 12 members of public. minici was on that commission, but in the end the reachsion could not consensus. its final report was a compilation of competing proposals. but the two cochairmens advanced have to sayld and i rather brave proposal toticularly as it letted social security, and featured raising the retirement age, if can believe it to 70. cutting social security payroll redirectede money interest mandatory private accounts, and adopting price indexing, among other changes. although the group was not able to any policy recommendations, the commission considered by us old budgeteers to be a milestone on putting on the policy agenda the future of the nait's entitlement that challenging few is still very much with us today, as we will discuss later. i could also make the argument it's even more difficult today was 20 years ago. i'm going to now turn this over to my friend and fellow colleague, bob bixby, who i have these vineyard for many years. served her at the policy center

cochran. tim congressmen, the last one who is just retiring from the house, john dingell and the 12 members oflic. senator domenici is they join us later was on that commission. but in the end, the commission couldn't reach consensus and instead its final report was accomplished in the competing proposals. both the two cochairmen advanced their own bold and rather brave proposal on social security and raising the retirement age to 70, cut the social security payroll tax with the money redirected into mandatory private accounts and adopting price indexing a mother among other changes and although the group wasn't able to agree on any policy recommendations the commission is considered by the old budget to be a milestone in putting on the policy agenda for the future of the nation's entitlement programs. and the challenging future is very much still with us today as we will discuss later. i could also make the argument that it's even more difficult today than it was 20 years ago. i am now going to turn this over to my friend and fellow colleague who i have labored with for many years. he served