market is saying we recognize that you're a fool and we're crashing well this quote comes from alan blinder a professor at princeton university and he's a former vice chairman of the fed and he said through operation twist bringing he is throwing sticks and stones and peashooters and b.b. guns and whatever he's got at that we could khana me in the effort to make marginal improvements i don't expect any miracles from it and frankly neither do they so max we see to set off and we see this junk shot over and over in the last two or three years as the whole financial system collapses but as all of our systems class and saw the junk shot and the gulf of mexico with b.p. we saw the junk shot in fukushima the junk bonds have been replaced with actual junk from the junk yard and the problem is this operation twist which for viewers who may be joining us late this is an attempt by the fed to force down long term interest rates by selling the short term paper usually it's the other way around so that's why they give it the same twist why because interest rates are zero already so they're digging deep

one of the witnesses was alan blinder who used to be vice chairman of the federal reserve when alan greenspanas chairman. let's be serious about health care costs in this country, medicare and medicaid and addressing health care costs. we won't get a handle on the deficit. thanks for your testimony. we are doing q&a like this. you said earlier if we don't do it in about health care costs, we are playing around the edges. he said that is right. what would be your advice? what should we do? he said i'm not helping the economists. here is my advice. i urge you to find out what works. that is all he said. find out what works. more of that. and i said to correlate that would be finding out what to do after that. i think the same is true across government as we deal with a budget deficit. we are happy that it is down. only $1.3 trillion by the end of the year. but the red ink as far as we can see everything we do we have to look through a prism that says a way to get a better result for less money or a better result for the same amount of money. i would ask you today to talk about some of the thing

finance committee, the subject of the cheering was deficit-reduction and one of the witnesses was alan blinderho used to be the vice chairman of the federal reserve when alan greenspan was the chairman, and the church of the testimony and said unless we are serious about the recent health care costs in this country, medicare, medicaid, and finding addressing the of care cost said we are not really going to get a handle on the deficit all the witnesses finish this is the money during the q&a like this, and came to me and said you said earlier if we don't do anything about health care costs that's the 800-pound gorilla in the room and we are playing around the edges and he said that's right. what will be your advice, what should we do? he said on not helping congress. he teaches at princeton. he says here's my advice i would urge you to find out what works. do more of that. that's all he said. find out what works. do more of that. so i guess to correlate to that would be to find out what does not work and do less of that. i think the same is true across the government as we deal with the budget

finance committee, the subject of the cheering was deficit-reduction and one of the witnesses was alan blinder who used to be the vice chairman of the federal reserve when alan grenspan was the chairman, and the church of the testimony and said unless we are serious about the recent health care costs in this country, medicare, medicaid, and finding addressing the of care cost said we are not really going to get a handle on the deficit all the witnesses finish this is the money during the q&a li this, and came to me and said you said earlier if we don't do anything about health care costs that's the 800-pound gorilla in the room and we are playing around the edges and he said that's right. what will be your advice, what should we do? he said on not helping congress. he teaches at princeton. he says here's my advice i would urge you to find out what works. do more of that. that's all he said. find out what works. do more of that. so i guess to correlate to that would be to find out what does not work and do less of that. i think the same is true across thgovernment as we deal with the budget def

finance committee, the subject of the cheering was deficit-reduction and one of the witnesses was alan blinder who used to be the vice chairman of the federal reserve when alan greenspan was the chairman, and the church of the testimony and said unless we are serious about the recent health care costs in this country, medicare, medicaid, and finding addressing the of care cost said we are not really going to get a handle on the deficit all the witnesses finish this is the money during the q&a like this, and came to me and said you said earlier if we don't do anything about health care costs that's the 800-pound gorilla in the room and we are playing around the edges and he said that's right. what will be your advice, what should we do? he said on not helping congress. he teaches at princeton. he says here's my advice i would urge you to find out what works. do more of that. that's all he said. find out what works. do more of that. so i guess to correlate to that would be to find out what does not work and do less of that. i think the same is true across the government as we deal with the budge