big picture, ali velshi, how does this affect the economy?> it used to be when the economy kmi was level, if you gave a tax cut, that was money they generally used to stimulate the economy. the problem we have right now is this influx economy where some are worried about losing their job, even though the situation is improving, losing money in investments, they're not getting it in their houses. so it's unclear what people do when they have a tax credit. the tax credit disappears, is that money they won't spend? are people living close to the bone? we saw say fairly successful black friday so folks are spending. all of this is to say, bottom line, it's relatively unclear what people would do with $1,000 or $1,500 today. >> i don't know they're getting it, but they're spending it. >> which is a wonderful thing. we just saw the thnumbers on friday. i think cyber monday and black friday were wonderful. the number was almost the psychological bit to be below 9%, now 8.6%. >> it's a big deal. >> but it's the seasonal jobs, once it dries p up, are

. >> i'm ali velshi welcome to a special edition of "your $$$$$." in chicago at c mulch e, the floor of the chicago board of trade where all sorts of things are traded, real money changes hands. i'm joined by great guests. terry savage, personal finance editor of the chicago sun times. diane swonk, old friend, chief of messere, aux financial. >>> we're talking about the middle class. who represents the middle class in this country. the democrats are trying to make the point with speeches by president obama in the last couple of weeks. democrats are the party of the middle class. republicans are the party of the rich. republicans obviously are struggling with that themselves. david, what's your sense of how republicans are thinksing themselves and who in this country represents the vast majority of people, the middle class. >> i don't think anybody is doing a very good job of it of the president gave a speech in kansas a week ago in which he tried to stake out this ground. he gave a very good assessment of problems facing middle class americans. his

ali velshi, christine romans.ave you guys here. >> you actually have a book signing, is that the deal? we'll talk about the book in just a minute. let's talk about the u.s. markets and how they're going to relate to this credit warning. >> everything matters. what's happening in europe really matters here. it's the biggest destination for u.s. goods. if there is a recession or worse in europe and it doesn't get it together, that means american factories will close. s&p are worried about recession and also political will in this area to get things fixed there. it will mean treaties and a lot of compromise by people right now who preferably don't agree. >> that's the last thing we want to hear, american companies closin closing. >> these are people who buy what few goods and services we put out. the s&p, anybody reading a paper or watching the news will know that there are problems in europe. the fact that s&p says it will downgratd some people, i would be surprised if the market reaction is so exaggerated to that.

. >>> but next, cnn's ali velshi joins us in trying his hand at something we found in life magazine.sen is my patient. i spend long hours with her checking her heart rate, administering her medication, and just making her comfortable. one night britta told me about a tradition in denmark, "when a person dies," she said, "someone must open the window so the soul can depart." i smiled and squeezed her hand. "not tonight, britta. not tonight." [ female announcer ] to nurses everywhere, thank you, from johnson & johnson. just a second. just, just one second. ♪ what are you looking at? don't look up there. why are you looking up? ♪ get outta the car. get outta the car. ♪ are you ok? the... get in the car. get in the car! [ male announcer ] the epa estimated 42 mpg highway chevy cruze eco. from spending time together, to spending your lives together, chevy runs deep. >>> just ag eight days before the iowa heir caucuses, it's now ron paul who finds himself at the top of the polls and on the front page of the des moines register today. they're asking the big question of the political world,

>>> i'm ali velshi. welcome to a special edition of "your money." we' we're at chicago as the cme group, the chicago board of trade where all sorts of things are traded, real money changes hands around here. i'm joined by great guests. terry savage, personal finance editor of the chicago sun times. diane swonk, old friend, chief of messirow financial. joining me from washington, cnn contributor and conservative columnist david from, the host of the fromme forum and former speechwriter for george w. bush. thank you for being here. the one thing we're going to be hearing about in the next 12 months, david i put it to you, a gop set of primaries, looking for a candidate, talking about the middle class, who represents the middle class in this country? the the democrats are trying to make some speeches that the democrats are the party of the middle class, republicans the party of the rich. the republicans struggling with that themselves. david, what's your sense of how republicans are positioning themselves and who this country represents the vast majori

ali velshi joins us explain what this means, straight ahead. >>> shocking images of clergy attackingng up. we'll tell you what caused this biblical brawl. brad, where we going? just a second. just, just one second. ♪ what are you looking at? don't look up there. why are you looking up? ♪ get outta the car. get outta the car. ♪ are you ok? the... get in the car. get in the car! [ male announcer ] the epa estimated 42 mpg highway chevy cruze eco. from spending time together, to spending your lives together, chevy runs deep. you know, typical alarm clock. i am so glad to get rid of it. just to be able to wake up in the morning on your own. that's a big accomplishment to me. i don't know how much money i need. but i know that whatever i have that's what i'm going to live within. ♪ ♪ >>> ali velshi is anchoring erin burnett "outfront" and is coming up at the top of the hour. afghanistan chose china, not the u.s., which seems surprising to me but not to you. >> no, because what we've seen around the world is china's being much, much more aggressive than the united states is in terms of sec

my handle is @ali velshi. from all of us on "your money" and at cnn we wish you a very happy holiday and new year. >>> from hollywood to helping humanity, trading glitz and glamour, forgiving and grace. >> that's the great part of being in the position i'm in. we can actually make a difference and really, really help people. >> big stars. >> to be able to use that voice. it would be a pity if you didn't use it for some sort of good. >> big giving. >> i love this work. anybody that was given the gift that i was given by the american people, you'd be crazy not to do it. >>> hello and welcome to a cnn special presentation. "big stars big giving". i'm elena chou. as we celebrate the holidays this season we also remember this is the season of giving. just ahead we'll talk to some of the biggest stars of hollywood the world of politics and a man many call an international treasure. superstar jennifer lopez. it was a scare with her newborn baby thane spired her to help other children around the world. singing sensati

ali velshi has spent time on the bus. two week, new hampshire primary. who's on top of the latest poll there? >> reporter: new poll out yesterday, on christmas day, from "the boston globe." look at this. it is still mitt romney's state to lose, i guess you could say. the front-runner for about two years. remember, the former massachusetts governor from the neighboring state. number, at 39%, far ahead of gingrich and paul. there's jon huntsman, lower double digits. placing all his money on new hampshire, alina. >> if republicans hope to gain control of the senate in 2012, they better support dick lugar for a second term. who says that? dick lugar. he's facing a race. he tells candy crowley he believe as tea party win in the republican party could set the party back in a big way. >> the republicans running for re-election ought to be supported by people that want to see that majority. to the majority of tea partier, you can understand that, too. >> so i know what you mean is, you think that you have the best chance of keeping this seat republican? that's w

is it ali velshi?tes after the hour. [ nadine ] buzzzz, bzzzz, bzzzz, bzzzz, you know, typical alarm clock. i am so glad to get rid of it. just to be able to wake up in the morning on your own. that's a big accomplishment to me. i don't know how much money i need. but i know that whatever i have that's what i'm going to live within. ♪ ♪ >>> 22 minutes past the hour. "minding your business" sears says it will close as many as 120 sears and kmart stores. the ceo says the company is trying to reduce expenses after disappointing sales for big-ticket items. >>> the final week of trading for 2011 begins in just over an hour. the dow and the s&p 500 are trading lower right now and nasdaq futures are up slightly. two key economic reports are due out this morning at 9:00 a.m. the case schiller home price index for october is released. most analysts are expecting consumer confidence to hit a five-month high and home prices to be declining at a slower rate. >>> if countrywide handled your mortgage, you might have

going to check out my new book, it's called "how to speak money" i've written it with my friend, ali velshile at bookstores as well

i'm ali velshi along with alina cho this morning. we're glad you're here alina. a handful of people who's been into north korea and very familiar with the region. >> i am and i have to say quite a shock. he had been sick since 2008 officially. had suffer add stroke there, but i think it came to a shock to a lot of people including south korea and we do begin with this breaking news thinking morning. some hope, some fear and lots of uncertainty. people are reacting worldwide to the death of north korean dictator kim jong-il. his 17-year reign of power is over. >> this came late last night on north korea television. delivered by a weak tv anchor having trouble keeping it together. take a look. [ speaking in foreign language ] >> now, this, what you're looking at, is the last known image of kim jong-il released by state media, north korea said he dysart of a heart attack. he was on a train when he suffered. only 69 years old. >> the country announced what it calls a great successor to the so-called dear leader. his son, third son, kim jong un, who is said to be eith

i'm alina cho along with ali velshi. so glad you're with us. >> good morning.000 in your pocket, for next year, fuhgedaboudit. set to block a two-month extension of the tax. lawmakers scrapped a vote in the middle of the night. house speaker john boehner expects the bill to fail saying his members are against kicking the can down the road. minority leader pelosi blamed rogue republicans for getting in the way. here's both sides. >> our members do not want to just punt and do a two-month short-term fix where we have to come back and do this again. we're here. we're willing to work. >> it's just a radical tea party republicans who are holding up this tax cut for the american people, and jeopardizing our economic growth. >> here's what the in-fighting could cost you when you start getting the holiday bills. if congress can't reach a dealish americans earning $50,000 a year would be hit with a $1,000 tax hike in 2012. joining us from capitol hill, the chairman of the house republican congress. congressman hensarling, thanks for being with us. >> good morning. >> ta

. >> and i'm ali velshi. good to see you again. haven't been here a while but come back into much news. >> tell me your abu dhabi -- >> in case you missed it, republican front-runner newt gingrich must have felt like everyone was ganging up on him because they were. calling the palestinian "an invented people." >> this is a propaganda war in which our side refuses to engage and we refuse to tell the truth while the other side lies and you're not going to win if you're afraid to stand firm and stand for the truth. >> you stand firm and speak for the truth but you don't stand for israel. if bb netanyahu what's to say what you say, let him say it. >> and the leading to one of the evening's most spirited exchanges. >> let's of candid. the only reason you didn't become a career politician is you lost to teddy kennedy in 1994. >> now, wait a second. wait a second. now wait -- >> i mean -- >> all right, cnn's deputy political director paul steinhauser joins us from des moines, iowa this morning. paul, nice to see you. romney's offer to ma

ali velshi and christine romans. >> we love to be introduced like that. >> fix this for us.ou look at what's happening overseas and a lot of people think how does this impact me directly? but this could undermine our recovery here in the united states. >> people often say how does it affect my credit card, my mortgage? more importantly, if europe were to fail, we could go back to the stone ages. this is the biggest client in the world for us. they're the same size as amer a america. the eurozone is the say as the american economy. >> if it goes into a recession or worse, some say the worst case scenario is even worse for the region, that means american factories close. look at the headwind. imagine the headwind if the american economy -- we're just starting to have a hiring pickup, just starting to see markets showing more stability. >> just start to go see people go shopping. >> how much time do we have about of it all comes back? >> this s&p downgrade thing doesn't mat thor all that much largely because we already know europe's a problem. it's like the u.s. downgrade. it w

. >> be sure to watch "your $$$$$" with christine romans and ali velshi every saturday and sunday atm. eastern. >>> it was an interesting night for college hoops, to say the least. this is how the xavier/cincinnati game ended. it was almost reminiscent of the 2004 basket brawl between the indians and pistons. we'll talk about it, next. today, investors want retirement planning on their terms. i want to work with people who are objective. how about a plan with my name on it? can we start with realistic goals, please? show me how to keep more retirement money in my pocket. now and down the road. those are my terms. then this is your place. td ameritrade, where millions of investors plan for retirement on their terms. [ male announcer ] trade commission-free for 60 days. plus get up to $600 when you open an account. let me get you a free tank of gas -- how's that sound? progressive saved me money, and i'm saving you money. [ chuckles ] now these guys are protected with progressive. come on around. we'll fill up your tank for you. free gas! 5 more inches. now you're lined up for some fre

if you want to know more about the topics we cover here, don't forget about my new book with ali velshi. it's called how to speak money. it's a guide to all of these issues affecting you no matter how old you are. have a great weekend, everybody. >> we are at the top of the hour. the senate is getting to work getting some something done for you. you're seeing a live pictures of a debate going on on the senate floor. what happened minutes ago is they voted to extend that payroll tax cut. if they had nop not, that would mean if it's not extended, your paycheck will go up january 1st. they have passed it. that's good news. still, the house has to pick the it up, as well. still, we're not done. much more in just a moment on capitol hill. also, this is a brave marine. but this time, b he's pretty brave to ask the first lady of the united states to the ball. he asked her out. we'll see how this is played out. also, for keyby bryant, we know how this is going to play out. his wife, vanessa, has now filed for divorce. details on why in just a moment. but from the cnn center, this is your saturd

. >> be sure to watch your money with christine romans and ali velshi every saturday 1:00 eastern and00 p.m. eastern. imagine... one scooter or power chair that could improve your mobility and your life. one medicare benefit that, with private insurance, may entitle you to pay little to nothing to own it. one company that can make it all happen ... your power chair will be paid in full. the scooter store. hi i'm doug harrison. we're experts at getting you the power chair or scooter you need. i didn't pay a penny out of pocket for my power chair. with help from the scooter store, medicare and my insurance covered it all. call the scooter store for free information today. >>> listen up. you want to know about this. how about this for holiday cheer. you can really eat food that you love over the holidays and stay in shape. you can eat more. >> can you? >> and lose weight. that's what mark mcdonald says. he's the ceo of venice nutrition. he's the author of a "new york times" best seller "body of confidence." here's here to explain. here's the book. right? i saw you on chelsea lately. all

good evening, i'm ali velshi sitting in for erin burnett "outfront" tonight. newt sinking and santorum rising. newt gingrich plunging from his top spot down to fourth place. former governor rick santorum doing just the open sits. he surged from single digits into third place. mitt romney now leads the pack with 25% and there's another new poll out of new hampshire where the nation's second contest in the race for the gop nominee will be held one week later on january the 10th. mitt romney dominating his opposition there. he's at 44%. rivals ron paul and newt gingrich trailing 17% and 16% respectively. let's go right to political correspondent joe johns. he's on the ground in iowa. joe, this is a bit of a shocker. santorumizi santorumize santorum rising as much as he has. this is a guy that's been to every county in the state and he still couldn't get that endorsement. what has done that this for rick santorum? >> reporter: ali, i've got to tell you, a lot of people thought that santorum was underperforming in the state of the polls for a long time. he's been t

ali velshi got a chance to speak with j.w. marriott and arne sorenson, the company's president.they talked about the new age of travel and how their company is responding. >> let's talk about you and hotels. you love the hospitality industry. what's different about it from when you worked in the company with your dad over those 40 years that you were ceo to today? what's the same and what's different? >> well, what's the same is taking care of people. we take care of our associates so they'll take good care of the customers and the customers will come back. we're providing a good room, a good bed, a nice check-in experience. boy, it has sure gotten to be complex. the internet has made it complex. the use of the computers has really changed the chowhole sce. the globalization of the industry has been huge and tremendous. we're now in 72 countries. we had ten new countries on the board the other day we were looking at hotels in. it's really become a very big and complex and global company. >> arne, one of your big challenges is not just that globalization, which i know you and oth

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i'm ali velshi sitting in for erin burnett. the iowa caucus is just eight days away. republican presidential candidates have just over a week left to prove to iowans that they're the first to win the nation's contest held on january 3rd. polls show the race there is still very much up for grabs, but there was only one candidate out today with an official campaign event and it wasn't one of those top three. it was rick santorum and he went hunting with an important guest. our senior congressional correspondent dana bash joins us now with more. who is this special guest that got rick santorum out on a campaign event today? >> he's congressman steve king, a very prominent republican from the state of iowa whose endorsement is coveted big time. he didn't endorse santorum today and i spoke with him by phone as he was driving in the car, ali, to this hunting event with rick santorum. he told me he'd planned to endorse months ago. he wanted to back one of these candidates to try to have a big impact in the iowa caucuses and he still to this day, eight day away, he says he ca

i'm ali velshi. as 2011 draws to a close we're all about 2012 right now. diane swonk, mesirow financial. you're an economist yet you've been called upon to be a political strategist to understand what it is that's going to happen in 2012. tell me where you sit right now is 2012 going to be a better year economically than 2011? is there going to be economic growth? are we possibly headed into further stagnation? >> well, you know, the political strategist side of things i've never had to look so much at politics to figure out where the economy was going. i tell you, it's like watching the keystone cops. it's ridiculous. going forward we do have momentum carrying us into 2012. we hope we don't lose it because of political ineptitude. that's what would kill it. we have a lot of icebergs ahead. we hope politicians are better at navigating turbulent water than the titanic. a glimmer of hope in the labor market. looks like the situation bottomed out after things fell apart last spring and the summer. we're seeing momentum return to job hiring. some momentum but

i'm ali velshi sitting in for erin burnett. the iowa caucus is just eight days away. republican presidential candidates have just over a week left to prove to iowans that they're the first to win the nation's contest held on january 3rd. polls show the race there is still very much up for grabs, but there was only one candidate out today with an official campaign event and it wasn't one of those top three. it was rick santorum and he went hunting with an important guest. our senior congressional correspondent dana bash joins us now with more. who is this special guest that got rick santorum out on a campaign event today? >> he's congressman steve king, a very prominent republican from the state of iowa whose endorsement is coveted big time. he didn't endorse santorum today and i spoke with him by phone as he was driving in the car, ali, to this hunting event with rick santorum. he told me he'd planned to endorse months ago. he wanted to back one of these candidates to try to have a big impact in the iowa caucuses and he still to this day, eight day away, he says he ca

if you want to know more about the topics we cover every week, read my new book with ali velshi, "how to speak money." now back to cnn saturday for the stories making the news. have a great weekend, everybody. >>> another alleged child sex scandal involving a well known sports program. this time, the head of the amateur athletic union is accused of sexually abusing two boys years ago. >>> controversial remarks from newt gingerich, the party's country front-runner called the middle east peace process, quote, delusional. and a live picture for you from arlington cemetery where a wreath laying ceremony is taking place to honor our american heros. and we honor you, all of you families that are with us. good morning to you from the cnn headquarters in atlanta. i hope this morning has been good to you so far. let's get right to those allegations of sexual abuse. two men tell espn that the head of the amateur athletic union sexually abused them in the 1980s. the men tell the sports network they were playing for robert bobby dodd's aau basketball team when he molested them. there's been no dm

." >> number 2 on our >> good evening, i'm ali velshi sitting in for erin burnett "outfront" tonight. newt sinking and santorum surging a brand-new poll out of iowa and it has stunning, new numbers. the former front-runner, newt gingrich, plunging from his top slot, down to fourth place. former pennsylvania senator rick santorum doing the opposite, he surged from single digits into third place. mitt romney now leads the pack with 25%, and there's another new poll out of new hampshire where the nation's second contest in the race for the gop nominee will be held one week later on january the 10th. mitt romney dominating his opposition there. he's at 44%. rivals ron paul and newt gingrich trailing 17% and 16%, respectively. let's go right to political correspondent joe johns. he's on the ground in iowa. joe, this is a bit of a shocker. santorum rising as much as he has. he was out there with representative steve king on the hunting trip. king did not endorse him on that trip. it made people wonder, we're so close, this is a guy to every county in the state. he still couldn't get that en

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good evening, i'm ali velshi sitting in for erin burnett "outfront" tonight. newt sinking and santorum surging a brand-new poll out of iowa and it has stunning, new numbers. the former front-runner, newt gingrich, plunging from his top slot, down to fourth place. former pennsylvania senator rick santorum doing the opposite, he surged from single digits into third place. mitt romney now leads the pack with 25%, and there's another new poll out of new hampshire where the nation's second contest in the race for the gop nominee will be held one week later on january the 10th. mitt romney dominating his opposition there. he's at 44%. rivals ron paul and newt gingrich trailing 17% and 16%, respectively. let's go right to political correspondent joe johns. he's on the ground in iowa. joe, this is a bit of a shocker. santorum rising as much as he has. he was out there with representative steve king on the hunting trip. king did not endorse him on that trip. it made people wonder, we're so close, this is a guy to every county in the state. he still couldn't get that en