next "newsmakers" with adam smith. then current and former president take part in the ceremony for the george w. bush library. then the life of mary todd lincoln. us from capitol hill is adam smith, the ranking democrat on the house armed services committee. >> thanks for having me on. >> joining me is jim michaels of usa today. with the situation continuing, we want to turn to jim michaels for our first question. >> the administration says it is likely that the assad regime has used chemical weapons against their own people. previously the obama on said it is the bottom line. >> that is the question. they are trying to decide you use the weapons. there is a bit of a divide on that. is seems likely that by whom and under what circumstances we will have to determine. what do we do about it backs the president said it was a red line. my thing is how we are conscious of how we respond. i do not want to commit u.s. forces to syria. i think that being able to secure the weapons is difficult. but our international partners a

. >> >> joining us from the -- adam smith. he is the ranking democrat on the house armed services committee. nike for being with us on "newsmakers." michaels fromjim "usa today," who joins defense issues. congressman, the situation continuing to develop in syria, we want to turn to jim michaels for our first question. itbid ministration now says is likely that the asad regime in syria has used chemical weapons against their own people. previously, the obama administration had said that the use of chemical weapons is a red line. what happens next? 64 thousandhe dollars question. they are confirming exactly who use the chemical weapons and still confirming the intelligence. in thee's a bit of a buy intelligence community. and then, like you said, what do we do about it? the quest -- the president did say that it was a red line. but it is important that we be cautious about how we respond. i don't want to commit u.s. troops and u.s. forces to syria. i don't think that would be a wise use of our resources. i don't think that being

frequency traders holding it for less than two seconds we used to make things in this country for adam smith wealth of nations seven hundred seventy six. his whole point was that the wealth of a nation is what it makes the example that a year. it was a tree limb on the ground has no intrinsic value other than perhaps to nature but if you apply human labor to it and carve it into an axe handle you know have something that has wealth and that becomes part of the wealth of the nation at least for the couple of generations until it you know deteriorates and we used to make things in this country and finance used to be this boring green eyeshade bankers hours the banker lived in the middle class neighborhoods. what happened once we took our foot off the neck of wall street it became a gigantic casino again now it was this ninety nine and two thousand the commodities futures modernization act but actually stories are only wildly arts in the late seventy's with carter proceeds during reagan's excel or rates during the clinton administration and then all the things that you did discuss that created

after all that's how we humans progress you know when we interact with one another we you know adam smith's invisible hand we both end up benefiting from it so let's go back to you know basic classic economic principles and let every currency compete against one another while competition breeds growth versus central planning which kind of greed you know more stagnation i think that's a fair statement i've always said that i mean i can debate people on that point but i want to back to this idea we have about a minute or so left the big trend of the day is this confiscation now in cyprus they've just taken the money out of a bank accounts with m.f. global jamie dimon j.p. morgan they did it on the institutional level stole a billion dollars jamie dimon just said look i'm a gangster he can't do anything about it now there is another form of confiscation which we see in the u.s. and in the u.k. it's called quantitative easing right in my wrong to say that talking about there you are because you're taking wealth you're taking purchasing power away from individuals who hold those currencies you k

host: more of that conversation takes place on our news makers program with representative adam smith. the ranking member of the armed services committee. here on 10:00 a.m. and 6:00 p.m. this coming sunday. in other domestic news, this is from "the new york times," senators talk about the long-term health care rollout. the chairman of the appropriation committee on health care said he was extremely upset with mr. obama's decision taking money from -- host: also senator max chairman of the finance committee said last week that the administration deserved "a failling grade for its efforts to explain the efforts. i can just see a huge train wreck but after hearing the white house on thursday he said he was encouraged and praised young people getting signed up for health coverage. continuing with what we are talking about when it comes to information from the white house about the use of chemical weapons in syria. again, your chance to call us on one of our lines. host: in ohio. up next, analytically on our independent line. hi. caller: how are you? i'm a little bit nervous. first-time c

. >> on "newsmakers," washington congressman adam smith, raking member of the armed services member, talks about boston bombings and information sharing among security agencies. here is a portion. >> at this point, i think it is fairly later that chemical weapons were used. i am not 100% confident of that. but based on the various intelligence reports we have being sortedt is out is used by home, how excessively, and what situation? how did it come to pass? was the assad regime giving a direct order to its military to use these millet -- to use these chemical weapons or did it happen in some other way? the details are murky. the confidence level seems pretty high that chemical weapons were used at least to a limited extent. newsmakers" sunday at 10:00 a.m. and 6:00 p.m. eastern on c- span. josh stokes of daniel hand high school in madison, connecticut, is the grand prize winner in this year's c-span student camp competition. he makes the case that unemployment should be the president's top 40 in 2013. >> hi. come to my hometown of madison, connecticut, and you might find it hard to b

. ♪ next "newsmakers" with adam smith.hen current and former president take part in the ceremony for the george w. bush library. then the life of mary todd lincoln. us from capitol hill is adam smith, the ranking democrat on the house armed services committee. >> thanks for having me on. >> joining me is jim michaels of usa today. with the situation continuing, we want to turn to jim michaels for our f

in a rational discussion and the italian renaissance in florence, venice, economics began with adam smithis not sure. if you look back 500 years at the history, you discover every economically developed nations got that way practicing some kind of protectionism, not just the united states, but the developed colonial countries like canada, australia and then he turned back europe the first industrialized countries. the u.k. turned aggressively towards free trade in the mid-19th century, but prior to that they'd been one of the most protectionist countries in europe. it may miss mercantilism, which is a phrase you may have heard if you crossed paths with economic history at any point. there is a myth promoted by free trade to mercantilism was kings wanted to word perils of gold in the basement of the palace. that's not what it's about, though i have to observe a lot of gold is the only way to expand the money supply. so hoarding gold is not these people. we talk about expanding the money supply with the fed. mercantilism was a systematic velocity and it goes back 500 years of how to manipul

that provided a tailwind for me besides graham and todd were the champions of capitalism, like adam smith, who have helped me to flourish. that's from mario gabelli. he says, things will change in this market. when do you expect that to happen? the bottom line is, going forward, how do you make money in this market, knowing that you had a great tail wind going into where we are right now. >> that may be dissipating right now. >> the tailwind will dissipate when the tailwind dissipates. again, i have great respect for the guys who run hedge books, who in bull markets are probably only going to be up 6%, but in down bear markets, where stock prices go down 40, will be up 6%. >> but here's the point, though, on that, dennis. i get what you're saying on that. those are the guys that are able to pay attention, close attention to the market and make some money for your investors in those very risky hedgefunds. but what about the average investor, who would look to a warren buffett or a bill gross or, you know, a jack vogel, and try to emulate their style of investing. are they still going to be

with your tweets, calls, and e-mails, followed by this week's "newsmakers" with representative adam smiththen the dedication ceremony for the george w bush presidential center. headlines inday's your calls, tweets, and e-mails, followed by former fbi investigator david williams on the fbi's investigation into the boston bombings. then a roundtable discussion on news from the week from capitol hill, the white house, boston, and syria. later, a look at the u.s.-russia relationship with william pomerantz of the woodrow wilson center. "washington journal" is next. ♪ good morning and welcome to "washington journal" on this sunday, it will 28, 20 13. last night washington media, politicians, and celebrities gathered for the annual white house correspondents association dinner. we would like to get your thoughts this morning on the relationship between the press in dc insiders. here are the numbers to call -- you can also find us online. send us a tweet by writing @cspanwj. or join the conversation on facebook by looking for c-span. you can also e-mail us journal@cspan.org. the white house corre

and because as adam smith said, specialization makes economies work better in states with more undocumentedskilled workers make more, work more hours and overall productivity has grown 10%. yes, undocumented have lowered wages for citizens without high school dim palomas ploems, undocumenteds are easy ma liplated. employers wouldn't with able to pull down all wages via undocumenteds. but the unintended damage they do to the working class makes it easy for politicians to d demagogue and demonize. nothing binds like a common enemy. it's easy to paint immigrants as part of the job and entitlement problem and worse, part of a scary future where white americans are no longer the minority, no longer the majority, and thus no longer in power. but studies show hispanic immigrants are becoming americanized just as previous waves of italian and irish and other immigrants did. allowing those immigrants to come into the center of american life, just as allowing blacks and women and gays to enter the center of american society has been empowering for america economically and spiritually as well. the ide

adam smith ofman washington, the top democrat on the house armed services committee is our guest thiseekend on "newsmakers." he discussed how the house and senate approached syria and how they seem to differ. [video clip] >> on the house side, we have been more cautious about the notion of this being a horrible situation and what can we do? we are not in a position to go in there and fix the problem. it is a lesson learned in iraq and afghanistan. u.s. military might alone does not automatically solve and make a peaceful situation. we have limitations. u.s. has been involved in providing humanitarian aid in working with jordan and other partners in the region to figure out what we can do to help the legitimate rebels. that is a tough question. we don't want to be arming al qaeda. i think there is openness on the house to potentially working with partner nations, to arm the right set of rebels and figuring out who that is remains elusive. i think it's a more cautious approach. for all the rhetoric out of the senate, when it comes down to specifics, what should we do? you talk about a n

watch this interview with adam smith at 10:00 a.m. and 6:00 p.m. eastern on c-span.lmpleght this weekend on c-span, before saturday night's white house response dinner, we'll show collected dinners from the past three administrations. starting saturday at 3:00 p.m. eastern and our live coverage of this year's dinner starting with the red carpet arrival at 6:15. the dedication of the george w. bush museum. >> an act of faith. i dedicate this library with unshakable faith in the future of our country. honorable lifetime to lead brave and noble as the united states. god bless. >>> sunday morning at 10:30. c-span booktv this weekend, twice awarded the bronze star donovan camp bell, the leading of part of american history tv sunday at 4:00. they convened a hearing to exam how drought affects water supply and the energy sector. witnesses from the interior department and the national oceanic and atmospheric administration offered recommendations on how to mitigate the impact of drought on community. >> the meeting will come to order. senator mor cow i sky is trying to juggl

this week on "newsmakers," our guest is congressman adam smith, the top democrat on the house armed services community -- committee. he talks about chemical weapons use in syria, the boston marathon bombings, and intelligence sharing. watch sunday at 10:00 a.m. and 6 p.m. eastern here on c-span. i went in. i walked into the kiosk. report. am bob ney to the guard came up and said, i knew one of your campaign managers in ohio. i said, ok. i got in there, the guard said, you have some hate mail. is waiting on you. they gave me the mail. you go through the most embarrassing part of the stripped-down. then i got into the intake, walked into prison, down into the courtyard, and the warden -- i will not use the language i use my book -- the warden told the man that was supposed to walk me around to get away from him. i sat there not knowing where to go, what close to get, here in these new close, like pajama pants. one other prisoner said, where is your ex court -- escort? i said a little guy in a suit yelled some foul language. he took me in the back of the laundry room. i walked in. a man is sitt

rational discussion in the italian renaissance between a myth out there that economics began with adam smith it's really not true, but what you discover, if you look back 500f the history, you discover every economically developed nation got that way practicing some protectionism, not just the united states, but also the other developed colonial countries like canada, australia, even south africa, strangely enoughing and then you turn back europe, first industrialized country, the u.k. turned aggressively to free trade in the mid-19th century, but prior to that, they were the most protectionist country in europe. there's a phrase that you may have heard if you cross the paths with economic history. there's a myth out there promoted by free traders that mother tiles was about kings who wanted to horde barrels of gold in the palace. i have to observe having gold is the only way to expand thonepp s are based on gold. the gold is money supply. we talk about expanding money supply with the fed. they wanted a lot of gold. mother tilism was a systematic philosophy back 500 years of how to manipulat

. >> we've got to relearn adam smith?ally it's going to be easier to understand how the private sector brings prosperity versus government? why do we need digital geniuses? >> because washington has always been in the bubble. 300 million americans, 2.2 billion people around the world connected to the web. young people now, this is the medium. these young people as first generation are the voters, the the equities, the folks that are driving the economy. and they want to see government that really acts the same way that a business does. what we should be demanding in the business, faster, better, cheaper, almost until it's free. and our expectation of services and excellent from our providers is really, really high in the consumer space. >> we talked about this yesterday with jonathan bush. he was talking about the transparency coming to how medicare and medicaid programs are paid and how that will create competition. when you talk about looking to entrepreneurs and trying to empower them, what do you mean? what does washi

. >> [inaudible conversations] >> this weekend we spoke with congressman adam smith, the top democratn the house armed service committee. he discussed how the united states should respond to intelligence reports. >> what do we do about it? the president did say it was a red line but my big thing here is that would be cautious about how we respond. i do not want to commit u.s. troops and u.s. forces to syria. i don't think it would be a wise use of our resources. i also think that being able to secure the chemical weapons that are in syria come extraordinarily difficult is possible at all. so we're going to have to have very serious conversations with partners in the region. international partners about how we proceed. because what has not been said by the administration at any point beyond the red line is what that means. what will they do? what is the best response? personally, i urge caution. we do not need another war. >> you can see this entire interview with congressman adam smith the top democrat on the house armed services committee sunday on c-span. newsmakers is at 10 a.m. an

this sunday, we talk with congressman adam smith, the top democrat on the armed services committee.e joins us to discuss the latest news out of syria that the government likely used chemical weapons against opposition forces. this point, i think it is fairly clear chemical weapons were used. i am not 100% confident of that, but based on the intelligence reports we have seen. what is still being sorted out inby whom it was used and what situations. how it came to pass. who got hold of the weapons. regime giving a direct order to the military or did it happen in some other way? the details are still very murky. the confidence level seems high that chemical weapons were used in some circumstances. >> you can watch the entire interview with ranking member adam smith this sunday at 10:00 eastern and again at 6:00 eastern on c-span. obamar today, president spoke at the annual hala for planned parenthood. he talked about women's health care and ways to make it more affordable. this is about 20 minutes. president andthe mrs. obama traveled to texas to be with the families who lost loved one

adam: sandra smith thank you. >> a quarter till, as we do at this point, every many minutes time to head stock exchange this time ben wil wills joining us, how do you explain this market? >> it is difficult, you need to back yourself away ffom your trading screen, realize this market is in a normal correction phrase, dramatic volatility throughout the week led by economy data and movement in commodity market. when you look at it you will see you have seen dramatic money flows out of commodity market, some has been finding its way into equity market, like telecoms, a defensive issue for many, it has paid off yesterday and today. but in overall picture, market is going through a healthy albeit volatile, movement to the down side, resetting. i think there is a likelihood dow jones become near 14,000 mark before the correction is over. against that is not a reason to panic or get upset, the work is not coming to an end. i believe major market industries will be higher by the end of the year, but like you trim a rose bush that you want to continue blossom. stock market has to do the same thin

. >> >> joining us from the -- adam smith. he is the ranking democrat on the house armed services committee. nike for being with us on "newsmakers." michaels fromjim "usa today," who joins defense issues. congressman, the situation continuing to develop in syria, we want to turn j

adam: sandra smith at cme. thank you very much.: we'll have the fed minutes here, wednesday, 2:00 live. you don't want to miss that quarter past the hour. time to check on the markets. nicole petallides still on the floor of the new york stock exchange. i'm not going to ask you about greek parade, i know you talked about it last hour but it was really cute. your do you is positive. >> two points. maybe i should focus my eyes over here. take a look, we have the dow in positive territory after we were down 67 points earlier today. just brings us back to the back and forth action we've been seeing. look at general electric which confirmed it is buying lufkin for about $3.3 billion in cash. 38% premium. there is the stock up almost 38%. so obviously that's right in line with what would be expected. this adds up to, ge string of acquisitions they are doing. this will beef up their oil and gas business. so that is good news for ge. they're paying 88.50 a share. the stock has pulled back a little bit, lufkin. we're seeing lufkin hitting a

.>> during an interview newsmakers, representative adam smith was asked what the u.s.id it was a red mind but my big thing here is that we be cautious about how we respond. i do not want to commit u.s. troops and forces to syria. i don't think that would be a wise use of our resources. being able to secure the ismical weapons in syria extraordinarily difficult, if possible at all. we will have to have very serious conversations with partners in the region about how we proceed. what has not been set by the administration be on the redline is what that means. what will they do? what is the best response? i urge caution. we do not need another war. >> of the transportation is the --ic of this documentary public transportation is the topic of this documentary a student some farragut middle school in knoxville, tennessee. they look at the financial and environmental benefits of a national high-speed rail system. out of 802 middle school injuries, they are first prize winners -- middle school entries, they are first prize winners. >> picture no traffic, happy citizens just b

newsmakers" with washington congressman adam smith sunday at 10 a.m. and 6 p.m. eastern on c-span. following senate action on thursday, there was a vote to end furloughs that were blamed for the delay of flights. is the floor debate on the issue. it is under an hour. >> the purpose of this transfer authority is to restore reliable and safe service and the air traffic system by reducing or eliminating employee furlough days. i think we agree that the faa and the administration has handled the sequester poorly. the faa has negotiated in bad faith with the faa employees, the airlines, flying public, and the congress. the administration has played shameful politics with sequestration at the cost of hard-working american families. as i have often said, this is no way to run a government. the congress is stepping in to correct the problems, created by the administration's inaction. we are taking this step because of the mismanagement of this important function for the safety of all americans who fly and on behalf of the commerce that depends on a reliable air system. we are taking this a

smith. i think that stands out. >> nobody writes about john adams without consulting paige smith. is a foundation for writing about it. what is remarkable to me was that the adams papers had just been opened to the public at a time when he started writing his book, and yet, they were so thoroughly researched. >> it was the first thing i read in graduate school. it was my introduction. >> the caller was nice to mention your books. i want to show some of them. we're hoping people be intrigued enough to read more. "abigail adams: a writing life." "my dearest friend: the letters of abigail and john adams." can you dive right in and get a sense of the person? >> yes, you might need a little bit of historical context, the letters are personal. in some ways, they are timeless. the talk about problems that people have today, concerns that people have today. but the political context, but the intimacy. but your book is excellent because of the footnotes and you take people into it. abigail's letters had been in print and she has been read since 1840 when her grandson's first published an e

smith, thank you. the selling begets selling. adam: talk about that.e listening to leland might be a great opportunity to get back in they're saying the chinese economy not down and out just yet. tracy: absolutely. adam: coming up with mortgages 10% down or less are on the rise. could we be looking at another housing crisis? gerri willis will explain why. tracy: as we head out to break let's look at some of the winners and losers on the s&p 500. there are winners. sprint-nextel no surprise on news of a deal. plus life technologies also thanks to merger monday up 7.4%. we'll be right back. tracy: a lot of red on the screen. wal-mart, microsoft, procter & gamble green. everything else very, very red. let's ha head down to the floorf the new york stock exchange. lauren simonetti standing by. the major averages again hovering near the lows. selling off, that is what is weighing the most on the dow down 186 points right now believe it or not off of the lows down more than 200 moments ago. as you can see jcp down 1.85% of this was a stock that was up for mos

tracy: sandra smith, thank you very much. >> thank you. adam up the consumer financial protection bureau wants to he no how you use your credit card and if you overdraw your checking account. what the heck are they looking for? we have the answer. tracy: let's look at winners and losers on the s&p 500. we're talking about it. it is testing lows of peabody energy corp, charles payne favorite up 7.2%. we'll be right back. >> taking a look at the dow theory and you can see a lot more red than green. let's head to the floor of the stock exchange. nicole petallides standing by. little bit of a slowdown to the downside. nicole: i am taking a look at a name like a real winner, taking a look at automation, u.s. auto dealers group, you see it is up 2% but better than expected profit and that is the best quarterly results and increased demand for new and used cars, revenue rose 12% above what analysts estimated. great news for auto nation pushing it to the upside and keeping a close eye on american express, first quarter profit rose 2% and beat the st.'s

adams. we have two guests at the table, richard norton smith and meet amanda matthews. she is at the massachusetts historical society where she is a research associate for the adams papers. ms. matthews, we learned there was not much documentary evidence about elizabeth monroe. how about louisa catherine adams, what exists? >> quite a wealth. she kept diaries intermittently. she wrote autobiographies and memoirs. there are hundreds and hundreds of letters of hers. we have her thoughts and feelings from her point of view, both reflective and contemporary as the events were taking place. >> another suggested that in her research she saw louisa adams as the first modern first lady. do you agree with that contention that she developed a sense of self? >> in some ways she has her own cause. she works with the washington female orphan asylum, so in that way it's somewhat modern having this cause that she was involved in and she does work politics in her parlor in such a way as to help win the presidency for her husband in her own way. >> well, richard norton smith, explain to

adam, thank you very much. lori: let's talk about commodities. prices are down nearly 7% year to date. will gold be able to regain its shine? sandra smith. sandra: really interesting trade going on here with gold. a lot of the big wall street firms, despite this run-up in prices today, gold up, this is a long turned downward trend that we are in. this is according to citigroup, also goldman sachs joining. citi private bank says it is getting out of its goal position altogether. they are getting out of the gold trade. it looks like there could be further room to the downside. lori: natural gas hitting a 20 month high. >> natural gas is the best performer on the cme group. more than a full percent. we have colder than normal temperatures rolling across the united states. a lot of folks in the east coast are pumping up the heat. you also have a report out from the energy administration reporting a 14 billion drop-down in natural gas supply. that was not as big as expected, but still a significant drop-down and supplies. that is the highest price that we have seen for natural gas in nearly two years. lori: great perspective. sandra, think yo

subjects included presidents john quincy adams, martin vanburen, house speaker henry clay, senator and statesman daniel webster and more man leader joseph smith. as one former colleague said, he wrote with such immediacy, you might think he had lunch with martin vanburen. the subject that interested him the most, though, was none of those great figures but andrew jackson. at least ten of professor rimney's books were about jackson, including an influential three-volume biography, the third volume of which won the national book award in 1934. andrew jackson was the embodiment of the new american. he was quote an orphan and talented and raised himself to the highest office in the land. he personified what the american dream is all about, that it's not class or money or bloodlines that are rewarded in america, but rather the ability of each individual to achieve something worthwhile in life, end of quote. professor rimney did not excuse jackson for his backward views on slavery or women's rights or his harsh treatment of native americans. he regarded jackson as admirable because -- quote -- "he believed in this union. he believed in this country

. >> congressman adam smith, the top-ranking democrat on the house armed services committee, is our guest this week on "news makers." he talks about reports of chemicals weapons used since syria. >> what do we do about it? the president did say it was a red line, but my big thing is we be cautious about how we respond. you know, i do not want to commit u.s. troops and u.s. forces to syria. i don't think that would be a wise use of our resources. i also think that being able to secure the chemicals weapons that are in syria is extraordinarily difficult, if at al possible. we're going to have to have very serious conversations with the partners in the region, international partners about how we proceed, because what has not been said by the administration at any point beyond the red line is what that means, what will they do? what is the best response? personally, i urge caution. e do not need another war. >> watch more about syria, the boston marathon bombings, and other defense issues today at 10:00 a.m. and 6:00 p.m. eastern on c-span. >> in democracy, the purpose of public office is not

this week on "newsmakers" our guest is congressman adam smith from the armed services committee. he talks about reports of chemical weapons use in syria, the boston marathon bombings, and intelligence sharing' across intelligence agencies. in democracy, the purpose of public office is not to fulfill personal ambition. elected officials must serve a cause greater than themselves. the political wind blows left and right, polls rise and fall, supporters come and go. but in the end, leaders are defined by the convictions they hold. deepest conviction, the guiding principle of the thenistration is that united states of america must strive to expand the reach of freedom. >> the dedication of the bush presidential library and museum, sunday morning at 10:00 30 eastern on c-span. >> now testimony from the head administrator in charge of implementing the affordable care act or that he talks about progress of state health insurance exchanges and the need to be ready by october 1 and the cost of health care premiums. from the house energy subcommittee, this is just over .wo hours are >> goo